Thousands of stories are told about how children inherit wealth from their parents, but not many are told where the children take their parents dream and turn it into one of the largest and most profitable companies in the world. When one looks at the path that has been trodden by Mukesh Ambani, the challenges become as visible as the feats. And, they co-exist in equal measures too.
Located in South Mumbai, his skyscraper home Antilia has been rated as the world’s costliest residential property by prestigious Forbes Magazine. He held the position of the richest Indian for 6 years.
If you ask Mukesh Dhirubhai Ambani to share his secret of success, he may say really few words. Because the man is among those who are ‘doers’, and not a ‘talkers’. He will not spend time pepping people up, or saying big things about his success formula since he believes everything that happens to you is a direct outcome of the ‘understanding’ you have about your business environment.
Here are the 10 success lessons from Mukesh Ambani -“Wealthiest Man in India” for the entrepreneurs,
1. Let your work speak for itself
The quote by Israelmore Ayivor is apt for Mukesh Ambani. The 59 year old likes to be keep a low profile in the social circle, or so it seems to be with the media at least! He isn’t keen on social dos and neither is he voicing opinions on important economic issues at events such as the World Economic Forum. But still, he is one of the most talked about personalities in the country.
Ambani’s focus has always been his business and this entrepreneur is credited for the creation of the world’s largest petroleum refinery at Jamnagar in Gujarat besides other successful ventures.
2. Have a dream
Mukesh believes having a dream and working towards it is the most essential thing for any business to identify its niche space. Words may sound hollow when one speaks of a ‘dream’ but, really how can a business take shape without a concept and a dream that would show the road ahead?
3. Trust all, but depend on none
Ambani in an interview had said that he did not want “people carrying their wisdom in notebooks as if it some kind of secretive operations”. While he has a trusted team of a few people, who have played a pivotal role in the growth of his empire , Ambani has always emphasized on the importance of being involved in one’s own business.
When it comes to work, Mukesh Ambani knows nothing can match the aspects of perseverance and self-learning. Trust is something, but being prepared for all kinds of emergencies is what keeps the company going – he knows it well.
4. Risks give greatest lessons
Ambani once said that the person who doesn’t take risks will not have major growth in their life. And yes, he proved it from the start of his career. But his risks are calculative, like adventure-seeker and not like a gambler. He knows his goals and will chase them to their logical end.
5. Trust your gut instincts
There have been several controversies concerning Mukesh ‘a rich man without a heart’ owing to his splurging of money on building his house Antilia and investing in IPL cricket team. However, Mukesh does what he deems right and mostly, it so turns out that it is the ‘right’ thing to do.
6. Be hungry, be impatient
Success eludes those who rest in the middle of a run. You gotta recharge your batteries, agreed. But, don’t time it right in the middle of a competition that’s hotting up. Markets wait for none, so be on your toes. Resting time is when the market slips into slumber.
7. Don’t panic, stay strong
Mukesh Ambani joined his father’s business at a very young age. And while he was still in the process of learning the nuances of the business, he lost his uncle and his father’s business partner Rasikbhai in 1986, followed by Dhirubhai Ambani’s stroke within five months of his uncle’s death. Ambani then had take his father’s place and steered the company forward at a time when India was still a land of Licence Raj.
8. Credibility carries high premium
Whether your team needs you, or your competition – be there on both occasions to give your fullest. Understand, innovate and prepare for the future. He believes that credibility is something that needs to be safe-guarded beyond cash inflow and outflow.
9. Keep your eyes wide open
Mukesh Ambani keeps his eyes wide open when it comes to hunting for new ventures. It always pays well to understand your surroundings. You may have created a niche product. But if there is a better product in the market that’s going to outdo yours, you better pull up your socks and sit down to improve your skills.
10. Build a team
Be there for your team. Trust the professionals. Learn, learn and learn. It’s never too late for that. When you build teams that are trustworthy, every moment you spend with them contributes directly to revenue of the company.