Do you know how to convert a startup into a billion-dollar company? Learn it from Michael Dell
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Founder and CEO of Dell Inc., Michael
1. Scarcity of capital drives innovation: Dell believes companies with an abundance of capital have a propensity towards not doing too well. According to Dell, the worst thing can happen to a company is abundance of fund. “Scarcity of capital drives new thinking and abundance of ideas, while abundance of capital does not," he said.
2. Learning from one’s own mistake: Dell said learning from one's mistakes is crucial to grow as an
3. Make the most of the available resources: When an entrepreneur starts his venture, he does not enjoy any reputation. He has limited resources, so he should make the most of the resources available and should find some like-minded people who can work with him.
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4. Value skills and hire right talent: There's always a dearth of good talent and Dell values skills and hiring the right talent suited for it above all. As for himself, he tackled this issue by hiring people with skills that he did not possess. "What are all the things that I don't know anything about? Now let's try and find people that can do those things; and surround myself with people that are very talented and knew things that I don't," reminisces Dell.
So be it a tumultuous transition from public to private through a $24.4 billion buyout deal — the largest technology buyout ever — or dealing with investors like
(Image: Reuters)
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