'Be afraid of our customers': Meow's Brandon Arvanaghi shares Jeff Bezos' video clip
Cash management for startups -- Meow -- CEO Brandon Arvanaghi on December 29 shared one of Bezos' interview where the latter can be seen sharing his experience while competing with a big firm in his initial days.
PremiumWith most entrepreneurs get scared during the initial phase of setting up businesses, it was similar for Amazon CEO Jeff Bezos too, but he overcame and that has become a success saga since then.
When small startups get grilled and pushed down by big firms, examples of how Jeff Bezos stood his empire are given to the people.
Cash management for startups -- Meow -- CEO Brandon Arvanaghi on December 29 shared one of Bezos' interview where the latter can be seen sharing his experience while competing with a big firm in his initial days.
ALSO READ: Jeff Bezos shares note from a couple who bought 2 shares of Amazon in 1997. Read full text here
Arvanaghi gave example of Barnes & Noble which opened their online store in 1997 and had 30,000 employees. Also, the firm had a sales of $3 billion against Amazon's $60 million. But, Amazon crushed the B&N.
In the interview clip shared by Arvanaghi Bezos could be heard saying, "When we were tiny and we had limited resources and headlines were very negative about Amazon and the one that's most memorable was just 'Amazon.toast'."
Adding on, Bezos said, "I called an all-hands meeting which was not hard to do with just 125 and we got in a room… because it was so scary for all of us, this idea that now we finally had a big competitor that literally everybody's parents were calling and saying, you know, are you okay, it's usually the moms calling and asking their children, 'Are you going to be okay?'" Bezos continued.
"So and I said, look, you know, it's okay to be afraid but don't be afraid of our competitors because they are never gonna send us any money. Be afraid of our customers and if we just stay focused on the and instead of obsessing over this big competitor that we just got, that we'll be fine," he added further.
There are various videos that are being circulated globally to inspire entrepreneurs to not give up.
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