United International University

Assignment- 01
Course Code: MGT 3229
Assignment title-
“The journey of a successful entrepreneur”

Submitted to:
Jakowan Sir
Lecturer, united International University

Submitted By:
Reaij Hossin Suvo
ID: 111 171 089
Section: A
In the current situation there are so many entrepreneur are trying to do work hard but few of
them get the success. A successful entrepreneur always is a favorite person to others. The most
successful and the number one entrepreneur of the world is Jeff Bezos.

Jeff Bezos is the founder and executive chairman of Amazon. His net worth of more than $200B
as of june 2021. He is the richest person in the world according to fobes and bloombarg. He
graduated from Princeton universitywith B.S.E degree in electrical engineering and computer
science. At the age of 30 he became the 4th vice-president of D.E Shaw& Co. The achievements
of his career make me wonder and he is my favorite entrepreneur.

In 1993, Jeff Bezos decided to establish an online bookstore. In 1994, July 5, he founded the
Amazon in his garage. Bezos initially named his new company Cadabra but later changed the
name to Amazon. In the beginning he invested $3, 00,000 that he got from his parents. In 1997
he raised the fund into $54M. In 2000 Bezos borrowed $2B from the banks. In 2003 Amazon
rebounded financial instability and turned a profit of $400M. He also founded Blue Origin( a
human spaceflight Startup) in September 2000. By this organization he launch the NS-16
mission with his brother mark bezos on July 20, 2021.At this time he has a net worth of $200B.

Bezos knows that every entrepreneur have to take risks to start-up a business. Without risks
there will be no business or entrepreneur. He analysis the risks of his new business Amazon and
warn the early investors that there was 70% chance that Amazon would fail or go bankrupt. In
2018, U.S President Donald Trump accused Amazon and Bezos specifically of sales tax
avoidance, misusing postal routes and anti-competitive business practices. Because bezos
initially transfer $5.5B in India to localize operations throughout the Amazon’s supply chain
routes. By this statement Amazon share price fell 9% that time.

Bezos had a long-term plan for his startup Amazon. He knows every business has some risk and
a successful entrepreneur has to overcome with it so that he can make profit. First three years of
founded Amazon it was known as an online book store, but he wants to expend to other products.
It was his development plan to overcome or secure his business. He took it public with an initial
public offering (IPO). In response he maintained that the growth of the internet would overtake
competition from large book retailers. After that year 1998 he diversified it into the online sale of
music and video. With the Blue Origin he maintain a low profile until it purchased west texas for
launch and test facility for space travel for human and his interest in reducing the cost of space
travel. In few years I think the space travel will e affordable to mankind.

He is the most successful man in the earth now. In my view some reason Bezos has become so
successful because he had patience for his business. He waited for first three years then he
developed the Amazon from online book store to variety of products store step by step. He also
develops his other organization Blue Origin 2006 to 2021 and recently he and his brother mark
went to the space by their own space flight. He is successful by his decision and his interest on
these businesses.
The journey of Jeff bezos as entrepreneur is full of experience and success. At his first stratup
with Amazon he knew that a new kind of a product (online book store) launched is full of risk. It
could be a loss project for him if it didn’t work as he thought. But we have to take risk to become
a successful entrepreneur and he did that so that he is the richest person on the earth. I learn that
take challenges or risks with a good decision and plan it will get me success.

Yes, I want to become an entrepreneur like Jeff Bezos. He is the most successful entrepreneur.
Some of his characteristics that may I pose within myself.

➢ Bezos is very knack for innovation. So I need to be innovate

➢ He is very hardcore realist. Reality is so hard and we have to accept it for the good so do
I.
➢ What he did in his life by planning. So I always form a plan for every step for my
business.
➢ Everything that an entrepreneur has to take risk. Without risk there will be no success in
business. I have to take the risk to become a successful entrepreneur.