Michael Dell : A Successful Entrepreneur

Michael Saul Dell was born on February 23 1965. He is an American business    magnate, investor, philanthropist, and author. He is known as the founder and CEO of Dell Inc., and also one of the world’s leading sellers of personal computers (PCs). He was ranked the 41st richest person in the world on 2012 Forbes list of billionaires, with a net worth of US$15.9 billion as of March 2012.

In 2011, his 243.35 million shares of Dell stock were worth $3.5 billion, giving him 12% ownership of the company. His remaining wealth of roughly $10 billion is invested in other companies and is managed by a firm whose name, MSD Capital, incorporates Dell's initials. On January 5, 2013 it was announced that Michael Dell had bid to take Dell Inc. private for $24.4 billion in the biggest leveraged buyout since the Great Recession. Michael Dell founded one of the world's most well-known computer companies from his college dorm room.

ENTREPRENEURIAL TRAITS IN MICHAEL DELL

INITIATIVE

Initiative is a way of looking at problems or situations from a   fresh perspective that suggests unorthodox solutions. Initiative also can be stimulated both by an unstructured process such as brainstorming, and by a structured process such as lateral thinking. Michael Dell founder of Dell Computer is known as a initiative.

Michael Dell spent much of his Houston childhood hanging out in computer stores. At age 15, he famously broke down a brand new Apple II computer and rebuilt it, just to see if he could. Being in an optimal state of mind Michael Dell could generate new ideas. His contribution to the computer world, however, was born not from his technical background, but from his ability as Initiative man to see that what needed improvement were not just the computers themselves, but the way in which they were sold. 

The process of exploring multiple avenues of actions or thoughts by Michael Dell has made the company recall of four million laptop batteries after a series of reports of those batteries catching fire and stiff competition from Gateway in the mid-1990's. However, Dell's successes far outweigh its setbacks. The company's entry into the printers and servers market was seen as a huge gamble. It has been a notable win for Dell.

In 2004, Dell stepped down as CEO of Dell but remained chairman of the board. The company's lacklustre performance led to him to return as Dell's CEO in January of 2007. Despite the tough economy, Dell continues to thrive. In the first quarter of 2009, Dell shipped 3.9 million PC's in the U.S., and 8.7 million PC's worldwide. On average, Dell ships 140,000 systems per day. Twenty-five years have since passed since Dell started his company by sifting through stacks of computer parts, but he is no less involved today in running the business than he was back in 1984. Some might see that as a fault, but doing things his own way has managed to work out pretty good for Dell so far because Dell has the ability to be creative.

All of the statements above prove that Michael Dell is well known as an initiative man which is his ability to think of original, diverse and elaborate ideas.

ETHICAL CONSCIOUSNESS

Micheal Dell began in 1984 with a simple business insight. He would sell directly to customers and build products to order. In one swoop, Dell eliminated the reseller’s markup and the costs and risks as sociated with carrying large inventories of finished goods. The formula become known as the direct business model, and it gave Dell Computer Corporation a substantial cost advantage.

Michael Dell is a ethical consciousness in the case in direct business like Dell, ethics with customers is the one more important. Beyond the mechanisms Dell company have for sales and support, Dell have to set up a number of forums to ensure the free flow of information with the customers on a constant basis.

Beside that, the senior technologist share their views in where the technology is heading. This also shows how Dell conscious on ethics with another senior technology. There are also breakout sessions and working groups in which Dell engineering teams focus on specific product areas and talk about how to solve problems that may not necessarily have anything to do with the commercial relationship with Dell. The relationship in the corporation like “Dell engineering” shows that there also use the ethical consciousness in their work.

Dell also try to help their customers understand what the flow of new technology really means, how it will translate into specific product. Dell try to help the customer anticipate whats happen and be ready. This relationship ethical consciousness make Dell company very famous with among their customers.

 FORESIGHT

Michael Dell of course can’t be separated from the business and electronics. At a young age, his interest in both these fields growing up cause he can’t wait to start a business that is based electronics. His foresight was evident when at the age of 12 he started a small business selling stamps and achieved a profit of $ 1,000. As a result, he became more determined to continue the business with selling newspapers. Due to his work hard in the early stage, he managed to buy a BMW car at the age of 16 as a reward for himself. This is achieve because he is a foresight person.

His knowledge of the intricacies of the business resulting from the sale of stamps and newspapers, at the age of 19 years, he has set goals and strategies for the future as he have foresight. He knows and is sure to follow his foresight for making the right decision. Furthermore, when he was 15, his parents bought him an Apple’s computer. However, he did not use the computer, but he disassembled all the components in the computer to see how it works. Finally, he re-assembling all the components of the computer and it works.

He continued his studies in the medical course where it is far from the scope of the business. However, he still runs the business while at the University. At the University, he sells hard disk to friends and through other contacts. In addition, he has also acquired an IBM computer and makes improvements by adding additional memory and disk drives and sell it at a price 10% up to 15% less than retail prices. Finally, he managed to register the name of his own company in the State of Texas with a capital of $ 1,000. This shows that he is foresight when he started his company just with a few employers.

Dell quit his medicine study to pursue his dreams. And when the business progressed, he was moved to a small office and hired several workers to take orders and manage the machine. Dell was the first person that introduced direct sales method in the IT industry. He believes that he is able to compete with traders selling other computer programming at a lower price as he wish it earlier when he was a young.

In 1983, he changed the company name to Dell Computer Corporation and making it to the public. His company has grown and is recognized by the rest of the world, with manufacturing facilities, partnerships and subsidiaries in Asia, Europe, Latin America and Australia. Dell Computer Corporation has been listed in the Fortune 500 list of largest companies in the world. In fact, he himself was also listed as the youngest CEO of a Fortune 500 company.

Finally, even though he succeeds in his life but he still has a foresight to develop his company more. Dell knows if he follows his foresight and aim, he was able to succeed.

VERSATILITY

Just like other successful entrepreneur, Michael Dell also started with almost nothing in his hands but all are in his head. He just a person with full of versatility in his life. He is a very committed guy because when he created a plan, he will attain it with full strength. Just because of his self believeness he just sold the stamps and made his $1000 at the age of 12.Most people can’t earn enough money to buy BMW at the age of 16.But,Michael Dell did the great thing.

Moreover, Dell Computer Corp. has remained so successful because of his versatility. He always belief in constantly rethinking his company’s operations. While looking for ways to expand his fledgling start-up, Dell concluded that computer would soon become an important commodity for everyone. He just thinks about the price and delivery only. He realise that he could buy the components and assemble the whole PC himself more cheaply. From this we can identify that one of the reason for Michael Dell’s success is his versatility.

In addition, in 1998, Michael Dell changed the firm’s name to Dell Computer Corporation and took the company public. Soon the company went global, with manufacturing facilities, partnerships, and subsidiaries, in Europe, Asia, Australia and Latin. By 1992, Dell computer had entered the fortune 500 list of the world’s largest companies. By the age of 27, Michael Dell was the youngest CEO ever to lead one of the 500.He just achieved this success because of his versatility.

In a nutshell, Michael Dell is a successful entrepreneur with a lot of good habits. One of the most important traits that he used is versatility. His ability in whatever he is doing for his business. Even when want to take any decisions also he belief and trust that his decision will give him success in his business field. And therefore he achieved all this success in his life.

INTEGRITY AND RELIABILITY

As we know, people who have a sense of integrity and reliability will be honest and trustworthy about the future as always positive in life. Michael Dell portrays integrity and reliability when he realized that the PC world is still young in the world. He seized the opportunity to create and sell a computer that allows Dell to achieve a good profit.

In the beginning, Dell began to sell his products in the dorms at the University of Texas. Dell sell his computers to people he knew in an effort to continue to thrive in the future. He made ​​the sale without using a middle man. His products have been named as PC Limited.

Michael Dell also thinking of ways to make it easier for customers in the business. So, he has sold on-line and via the Internet. So he does not need a large space such as a store for the stock. Customers can also ask the computer specifications they want. His emphasis, however, was not just on good machines, but strong customer support and cheap prices. This make the customers trust in him by his honesty.

Although regarded as wealthy, he is not stingy to help people grieve by doing well to others. He also thought about the future of people who cannot afford their life. Therefore, the welfare of which he did was committed more than $ 650 million to children's issues and community initiatives in the United States, India and South Africa. In 2002, Dell received an honorary doctorate in Economic Science from the University of Limerick in honour of his investment in Ireland and the local community and for his support for educational initiatives. This show how much the community reliable to Dell.