Michael Dell is one of the most reputed and well-known IT professionals in the business world. He is amongst the pioneers when it comes to personal computing and is the founder and CEO of Dell Technologies Inc, which is one of the world’s largest technology infrastructure companies. Throughout his career, Michael Dell has made sure that we can learn so much from his life.
The top three lessons that we can learn from Dell’s extraordinary life are as follows:
1. Believe in your Idea
Michael Dell started with a low-key attitude and was working more like a freelance person assembling PCs and then selling it. He later thought of why not start his own business as he knew that there was much profit in selling a complete personal computer to the target market. It was like a big gamble because, at that time, he had to deal with HP and IBM to make a niche for himself in the market. But he took the gamble and started the company as PC’s Limited and later changed it to Dell Corporation Limited.
It was 1984 when Michael Dell started his company as PC is limited, and in 1992, his company was part of the Fortune 500 list. This was quite an achievement for such a company with no background and financial assistance from a big group. He even had no prior experience in the retail market, but he knew the PC assembling, project management methodologies, and hardware related issues inside Out. And that helped him to come up with a solid plan and executed it perfectly.
2. Never Lose Hope
At the start of 2001, Dell became the largest selling PC company in the world, surpassing Compaq. But soon, the effects of the dot com bubble burst started hurting IT companies really badly. The terrorist attack of 9/11 triggered the bubble burst, and eventually, the majority of the IT companies who saw a boom from 1998 to 2002 fell from their highs, went bankrupt, or were sold to meager prices.
At the start of 2002, Michael Dell knew that even after the Dotcom Bubble burst, there were ample opportunities for IT companies to make a mark in the market. The growth of the PC market started to rise again, and as a leader in the PC market, Dell maintained its position for a number of years. In the wake of the failure of several top IT companies like Lycos, eToys, and InfoSeek, several companies panicked and sold off their shares to anyone willing to pay a good price. But amongst a few companies, Dell resisted.
Michael Dell knew that his idea of personal computers is one of the best in the market, and it will rise again. And he was right. Within a few years, Dell again led the market for several years as the number one PC and laptop selling vendor in the world. Even still, dealt is a respectable name in the IT infrastructure market and sells a number of laptops and other products worldwide. After the merger of EMC Corporation and Dell Inc in 2016, Dell Technologies Inc. was founded, and its yearly revenue last year was over 90 billion US dollars.
The above number is a testament to the fact that brand Dell never faltered leadership styles and decisions of his made Dell a force to reckon with in the IT industry.
3. Take Unusual Steps for your Development
In 2013, Dell surprised the market by announcing that his company was going private again. He bought back all the shares of a company from the market, and the company went private again. This was a bold but smart move from Michael Dell, and there was a big reason behind this. The company observed not enough sales and growth among many markets off late at the end of 2012. So, the board of directors of Dell decided to listen to the advice of Michael Dell and took the company private.
In 2018, after the successful restructuring of the company away from the public eye, Dell announced that Dell Technologies was coming back to the market as a public company. The process was completed successfully in the same year, and Dell Technologies is working just like any other company in the market and doing it successfully.
Final Word
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