An example of entrepreneur that have the perceptiveness is the founder of Amazon.com, Jeff Bezos. He was the youngest-ever senior vice president at Wall Street investment banker D.E Shaw & Co. Jeff had plan to expand the business of electronic retailing while he was making six-figure salary. He wanted to create his own company on internet. In four year time, the Amazon.com (virtual bookstore) created by Jeff became the template for how e-commerce businesses should be run. Jeff Bezos first got the idea to run an internet enterprise in 1994. While surfing the Internet in search of new venture for D.E Shaw & Co to invest in, he came across the statistic that Internet usage was growing wider and wider day by day. Bezos immediately recognized the fast growing of internet user can develop a huge market for his online business at the same time.
Bezos drew up a list of potential products that might be sold well online including CDs, computer software and books. After reviewing the list, he choose books as the product he going to put in his online business because he realized that even the largest bookstore only could stock less than hundred thousand books however a virtual bookstore could offer millions of titles.
Bezoc and his family moved to Seattle and started his new business. In nearly a year, Bezoc and his another five employees learning how to source books and setting up a computer system that would make Amazon.com user-friendly. In 1995, Amazon.com opened to public and calling itself ‘‘Earth’s Biggest Book Store’’ with more than 1 million titles to choose from.
Amazon.com had grown into a company of 100 employees and had racked up more than 15.7 million dollar in sales by September 1996.
(Logo of amazon.com and Jeff Bezos)
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