1% chance of coffee

In 1857, at the age of 20, John Pierpont Morgan graduated from the University of Gottingen in Germany and joined the Duncan firm.

One day, when he returned from buying seafood from Cuba, he was passing through the New Orleans wharf when a stranger patted him on the shoulder from behind and asked, "would you like some coffee, sir?" I have it in stock. I can sell it to you at half price. "

"half price? What kind of coffee? " Morgan stared at the stranger in wonder. "Yes." The stranger pointed to a freighter at the port and said, "I was the captain of that freighter. I was commissioned by an American businessman to bring back a shipment of coffee to Brazil, but as soon as he arrived here, he went bankrupt." I am in a hurry to go back to Brazil now. If you can buy this goods, you will save me. I would rather sell them at half price. But I want cash. "

Morgan saw a sample of coffee on the boat, and it was really a good batch of coffee, and the price was so cheap that it was a good opportunity to make money. It's just that if you are penniless, how can you do business with others?

Morgan doesn't want to give up easily. After much deliberation, he decided to take the risk of buying the boat of coffee in the name of Duncan. However, after the telegram was sent back to the company, Duncan's reply was cold and heartless: "never allow transactions in the name of the company, otherwise, you will bear the consequences!"

In spite of this, Morgan decided to win the deal. At this time, he thought of his father, a man who often taught his children not to give up any opportunity. When he brought coffee samples to sell to all his father-connected customers in New Orleans, he was advised to be cautious: "although the price is very cheap, it is difficult to say whether the coffee in the cabin is consistent with the sample." Some business authorities even warned him that with the coffee market so weak, there was only a 1% chance that the business would make money. However, Morgan stuck to his judgment that the Brazilian captain was a credible man and would never give up even if it was a 1% chance.

No matter how worried people were, the elder Morgan did not hesitate to support his son's action: he used all his connections to raise the money for his son. Morgan was so excited that he did a lot of work, and at the introduction of the Brazilian captain, he bought coffee from other ships.

Morgan's adventure proved successful, and soon after he bought the coffee, there was cold weather in Brazil, coffee production was cut and the price tripled, and Morgan made a lot of money.

Because of this bold deal, people were impressed by Morgan. Later, Morgan set up his own business, which allowed him to use his talents, which laid a solid foundation for him to become an American financial giant.

Even if there is only a 1% chance, don't give up easily. Because in many cases, 1% of the possibilities often contain 100% success.

Source: network