One of India’s most successful business tycoons Dhirajlal Hirachand ‘Dhirubhai’ Ambani serves as a role model for many aspiring entrepreneurs who wish to follow his footsteps to start their own company.
On his death anniversary, let’s remember the iconic businessman whose leadership and innovative skills helped him climb the ladder of success and produce the world’s largest shareholder families.
Here are some qualities of the great businessman that made him feature on the Forbes magazine as one of the richest men in the world:
(Image Courtesy: BBA)
#1. A Great Visionary
Businessman Dhirubhai Ambani had begun his company Reliance Trading Corporation with a vision to translate the trading company that imported polyester and exported spices into one of the biggest firms. Within 14 months of his work, the business leader created history for holding a world record in setting up a 10,000-ton polyester yarn plant. Not many can achieve their vision that early!
#2. An Eye For Opportunity
The business tycoon was always on a lookout to grab the best opportunities that come by his way. One such example is the case of convertible debentures. After convincing the government of the legitimacy of convertible debentures, he issued six series of debentures to raise money. With this, he converted the non-convertible debenture into a great financial tool.
(Image Courtesy: Outlook)
#3. Innovation At Play
Did you know at a time when participation in the Indian capital markets was mostly limited to a small group of influential people, Ambani brought first-time retail investors by raising an initial public offer of 2.8 million equity shares of Rs 10 each at par. He managed to convince over 58,000 people with a promise to convert their investment into good returns. To the surprise of many, he fulfilled his promise.
#4. Determination Towards The Mission
Ambani did not believe in the concept of ‘meeting demands,' but rather emphasized on the notion of ‘creating demand.' He would produce a large volume of polyester in the market to get people to like the product and endorse it, leading to greater demand. That’s how the revolutionary leader worked to increase his business.
(Image Courtesy: Business World)
#5. Effective Communication Skills
Dhirubhai was an excellent communicator. The evidence to this is the large public gathering, with thousands of people coming out to attend the annual shareholder meeting. As many as 30000 middle-class investors participated in the meeting held at Cross Maidan to hear the visionary talk about the profits made by the company and the returns its investor will get because from that.
#7. A Man With Risks
Dhirubhai Ambani has often won accolades for the risks he took to excel in his business. From the evasion of government taxes, import duties to raising public investment, the businessman played with risks to augment the growth of the company. The confidence with which he handled the business operations and the manipulative techniques adapted to convince the government enabled him to win the situation.
(Image Courtesy: Outlook India)
#7. Not A Quitter
A leader is an individual who does not bow down to the situation and look for solutions to rising from the fall. Dhirubhai Ambani faced many such situations that could have pulled him back, but he did not let it hinder his growth. Right from his early days when the man had no money during Mahashivrathris, he used to sell ‘ganthiya’ and earn some money. He ever worked at a petrol pump and an oil company before he formulated his own business.
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