Yesterday, I was listening to Stephen Swartzman, CEO of Blackstone Inc.
Blackstone Inc is currently valued at over 145 billion dollars.
He said that when he started, he sent letters to 500 persons for funding and partnerships.
These 500 persons were not strangers.
They were people he knew.
All of them turned him down.
I know your mind is trying to say ‘friends will not help you and all that’.
But, that’s not my focus.
Imagine a small business owner who just started an idea.
He had the courage to market his business to 500 persons.
500!
He go the first rejection, 2nd, 10th, 300th and up to 500th.
Yet, he kept going.
He didn’t stop to think to himself that this his idea must be ridiculous for 500 persons to reject it.
The law of average is a leveler in any endeavor.
Work is not work until it is graded in VOLUMES.
Drawing from personal experiences in entrepreneurship, the story of Stephen Swartzman’s perseverance really resonates with anyone starting a business or pursuing big ideas. I remember when I first launched my own small venture, rejection was a daily part of the process. Like Swartzman, I approached people I knew—friends, family, and colleagues—hoping for support or partnership. Most turned me down, sometimes more than once. The initial sting of rejection felt discouraging, but it also became a motivating force to refine my approach and deepen my belief in my concept. What I learned is the importance of viewing rejection not as a verdict on your idea but as a natural filter in the journey toward success. Swartzman’s experience sending letters to 500 acquaintances—and receiving universal rejection—is a powerful example that persistence at volume matters. Each ‘no’ carries lessons and helps you develop resilience. Furthermore, this story highlights the often overlooked power of networks. These 500 people were not strangers but part of his circle, which suggests that even the closest connections may hesitate to invest or partner initially. That’s normal. Sometimes, the value of persistence lies in gradually changing perceptions and demonstrating commitment over time. In my own path, I found that maintaining confidence despite setbacks, continuing outreach on a large scale, and learning from every interaction made all the difference. Rejections became data points guiding strategy improvements rather than failures. The ‘law of averages’ Steven Swartzman refers to perfectly captures this reality: success often depends on consistent effort and volume, not just a single lucky break. For anyone launching a startup or pitching an innovative idea, embracing this mindset can transform how you handle obstacles. Consider preparing to engage many people, expect and accept rejection as part of the process, and focus on the gradual build-up of credibility and support. Over time, persistence combined with learning can lead to outcomes that seem improbable at the start but become achievable through relentless effort.
