8 Secrets of Michael Dell’s Extraordinary Business Success

0
621
8 Secrets of Michael Dell’s Extraordinary Business Success - TaskQue Blog

“You don’t have to be a genius or a visionary or even a college graduate to be successful. You just need a framework and a dream.” – Michael Dell – American Businessman and Investor

One can easily imagine Michael Dell’s personality and attitude when one reads about his journey to the success he achieved. He had a dream of starting a computer firm and make it big in the industry and join the ranks of hotshots like HP, IBM and Compaq. But there are no free lunches and short cuts towards becoming a real success in this world. You have to work really hard to achieve the kind of success he has had.

When he began working on his dream by establishing a firm by the name of PC’s Limited. In 1992, Dell became the youngest ever CEO of a Fortune 500 company. Quite an achievement but it wasn’t a fluke. He worked vehemently to the point that in 2001 Dell Inc. zoomed by Compaq by becoming world’s No. 1  computer systems provider. And then last year, in 2016, Dell joined hands with EMC to become Dell Technologies. This move has been dubbed as the biggest technology integration in history.

All these milestones that Dell has achieved over the years will definitely make the entrepreneur inside you wonder how achieving such feats is even possible. So, what does it take for one to become so prolific and extraordinary? To answer this question, I’ve compiled a list of secrets behind Dell’s insane success. Every point is preceded by one of Michael Dell’s quote so that you can have an insight about his philosophy and the way he approaches different situations.

1. What Matters the Most

“There are a lot of things that go into creating success. I don’t like to do just the things I like to do.  I like to do things that cause the company to succeed.”- Michael Dell

That’s just another example of doing things the Michael Dell way. With constant market and business intelligence and the focus on activities that enhances competence, he never gets tired and that’s the first secret of his success. It was through constant analysis that Dell successful launched its own range of printers.

2. Follow Your Heart

“I do believe that you must find something you are passionate about and follow your interests – not what others tell you.”

Another quote from Dell about how to spot opportunities for improvement. But to be successful like him, you need to spot the opportunity and then create an environment to leverage that opportunity and make it happen.

3. It Isn’t About Getting Rich Quickly

“First of all, don’t start a business just because everybody else is doing it or it looks like it’s a way to make a lot of money. Start a business because you found something you really love doing and have a passion for.”

You can easily conclude from the above quote that just by merely jumping on the bandwagon concerning a latest trend won’t get you anywhere. Furthermore, as an aspiring entrepreneur, you need to create an environment that is not reliant on an individual’s contribution but where people work together for a cause that is dear to their heart, not something that is hip and happening but won’t get you anywhere.

4. Disrupt Coz Innovation Isn’t Enough

“There are many sectors of technology in the IT industry. To create a real breakthrough, you have to do something which has never been done before or you have to do it in a way which is dramatically better than something that’s previously been done.”

The entire marketing and sales department need to come up with an innovative mindset. Dell, Inc. was based on this idea so that every product bears the genius stamp of Michael Dell all over it. By researching the market, you will be able to foresee what the market needs and how you can fill the void to come up with an innovative product.

5. Delegate Responsibility

“First, if you try to control things, that’s self-limiting. The easiest way to think about this is that if all the decisions inside an organization had to roll up to the center of the company or to one person, it’s a massive bottleneck.”

Michael Dell knew how important it is to make everyone onboard. One person alone cannot handle everything even if he is owner of the company. His secret was to surround himself with employees who were smarter than him and then talk to them about any issue or problem. That’s how he rectified even the biggest problems in a matter of days.

6. Failure Eventually Begets Success

“I would say a few things. First, don’t be afraid to make mistakes. That’s how you learn.”

While businesses in general do not tolerate failure, Michael Dell didn’t indulge in such practices. He always gave the liberty to his employees, especially the R&D team to come up with new ideas. Although the cost of R&D is great, that’s how you come up with a novel idea completely backed up real market data and launch a product/service on this basis.

7. Constant Learning

“Continuous learning is also important.”

It’s one habit all great leaders and innovators possess. Michael Dell is no exception as he made sure he learned new things while dealing with the daily routine operational matters. Dell visited those companies that impressed him so that he can learn how they work and incorporate a new aspect in Dell Inc. That’s how he succeeded admirably in making Dell a firm that is always open for new ideas.

8. Commitment to Family

“I think we make a priority to bring balance into our lives. To me, family is very important. So, if you look at my schedule, one of the things I realized a long time ago is that there is a limit to how much productive work you can actually do in a given week.”

That’s one aspect that Michael Dell believed in firmly since he started his company. He always believed in the work-life balance to make his employees happy. He knew that only in this way employees work optimally and with full commitment resulting in the progress of the company.

Final Word

Michael Dell’s success secrets are his working ethics. That’s why he saw amazing success in a short period and his remarkable success over the years. From modest beginnings to one of the biggest technology companies in the world, his journey wasn’t an easy one. He had a clear vision about what he wanted to achieve and the rest is history.

If you think something can be added to make this post even better, be sure to share your comments/feedback in the comments section below.

LEAVE A REPLY