Ambani: A success story
Ambani is the life of 'Dirajlal Hira Chand Ambani' popularly known as Dhirubhai Ambani: A Success Story.
This book explains how he was born in a poor family and became India's biggest businessman with perseverance and lofty ideas.
Ambani
Ambani was born in Gujarat and moved to Aden (now Yemen) due to poverty to work and with his fighting spirit and desire to achieve many new endeavors.
He wants to start a business in India with the money earned there. He takes the risk.
Brave decision
One of the most important reasons for Ambani's success was a bold decision. His confidence that he can.
Doing what others hesitate to do.
What can be done to cut costs when embarking on new ventures? It is his thinking that has brought him to great heights.
If everyone is a forward thinker, Ambani is a backward thinker. Asian example, special.
Backward Integration
Suppose Ambani runs a tea shop.
The store is profitable, but Ambani, thinking that milk costs too much, buys a cow and milks it to sell it, thinking that he will get extra profit.
He gains profit by buying cows and increases their number. An entrepreneur succeeds in that too.
Tea powder is expensive and not of good quality.
So, what if we make our own tea powder on a small scale?! He starts that too and then expands it greatly.
Self-sufficiency
He is self-sufficient by producing the raw materials required for his business and does not depend on others for his production.
Ambani initially started by importing polyester fabric, then what if he manufactures it himself?! He thinks and prepares and succeeds.
Then he started producing the raw materials needed to make polyester one by one and finally came to its final raw material, petroleum industry and became self-sufficient.
Issue of stock
When he borrows from others for his business, he realizes that he spends a lot of money on interest.
That means he thinks that others are taking the fruits of his hard work.
So, by issuing shares in his company, he makes people as shareholders, makes them feel like bosses and gives them profits and makes huge profits for himself.
Underlying all the above activities and successes is how to reduce costs? It is his thinking.
Emphasis on exports
Ambani preferred to reduce imports and increase exports. He always continued his efforts.
He was interested in the country India and trying to make it a great industrial country.