Sundaymail Editor
Jeff Bezos has a message for budding entrepreneurs: Be ready to take big risks and fail.
Bezos delivered the message at Amazon’s
Re: Mars conference in Las Vegas after he was asked what advice he would give to anyone looking to start their own business. At the time, Amazon was one of the most profitable public companies in the world with a market value of nearly US$860 billion.
Two years later, the e-commerce giant had more than doubled in value when Bezos announced his plans to step down as CEO on July 5 — the same date the company was incorporated.
“Take risk. You have to be willing to take risk. If you have a business idea with no risk, it’s probably already being done,” he said at the 2019 conference.
“You have got to have something that might not work. It will be, in many ways, an experiment.”
Many of those experiments will fail, but “big failures” are a necessary part of the journey toward success, he said.
The CEO has long been known for his cutting-edge business ideas, from using AI-powered systems to monitor Amazon employees to creating Blue Origin, one of the world’s first space tourism companies. Bezos founded Amazon in 1995 with just 10 employees.
Now, the company is one of the world’s biggest employers, with a headcount of about 1,3 million full-time and part-time workers.
At the conference, Bezos said that in addition to taking risks and failing, entrepreneurs must also be passionate. —Business Insider.
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