When Jeff Bezos came up with the idea of creating Amazon.com, he didn’t expect it to be so popular and successful as it is now. It was 1994 when Jeff has decided to launch his unique project and blow up the mind of the boring internet market. In that same year, there was an interesting article published by the New York Times that raised the question: “Has the Internet been overhyped?” The main statement of this article was that almost 20 million people were using the Web. However, some experts tend to believe that the number is highly exaggerated, and many companies had wasted their funds on online projects.
That did not stop Bezos to launch his project, and he was more optimistic about its prospects than those experts were. The main object of the determination was only the type of business with the most potential.
During that period, US Supreme Court has ruled an important decision concerning mail-order businesses. In a few words, companies that did not have a physical presence in a state were absolved from sales taxes if their main activity was a mail-business. After a deep analysis of such companies and their activities, Bezos made a list of the opportunities that could be a progressive step towards launching his project. He decided to go with the book business.
The important factor in launching such potential project was moral support from his family. After he determined all small aspects of the project, he set up shop in his garage in Seattle, and came up with the name Cadabra.com, referring to the famous phrase of many magicians. A bit later, it was changed to “cadaver.”
The renamed project has started immediately, and it offered books for sale. The number of first orders was enormously high. As Jeff pointed out many times since then, from the first days of launching his project, he knew that it would become “huge.” Moreover, with each month it only proved how big and successful this project is.
The first results were amazing, since Amazon sold many books around the world, including States, bringing in $20,000 in sales per week by the end of 1995. The online factor was also a big advantage to increase the sales of merchandise. The founder also predicted the appearance of so-called competitors or rivals, but he immediately decided how to keep his business on track. The successful move was to rename his project again, underlining how huge and good it is, so he came up with the idea of “Amazon.” Later, he focused on changing the initial idea of his project and made the biggest store in the world.
The number of people on the internet was only increasing, and Bezos this time invented a motto for Amazon: “Get Big Fast.”
Even though the bubble of dot-com was destroyed, it did not change the fact that Jeff’s idea was the main factor of the increased internet population. Now, Amazon not only offers to buy CDs or books but also increased its products to the wide range. In 2004 and 2005, Amazon has shown amazing results in revenues, beating its records from $6, 9 billion to $8, 5. The latest years only increased the overall profit of Jeff Bezos’ idea, reaching the unbelievable number of revenues of $88, 8 billion.
This story can only motivate people to know and learn how it is important to pursue the goals and be on the top of a world.
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