Updated: Jan 30
Mr.Mukesh Ambani, the most successful business tycoon of India who achieved a lot in his field because of his determination, hard work and will power. In this blog, we would like to know about India’s richest man The Mukesh Ambani. Most of us know about his success, wealth, companies, his huge home and what all are served in their weddings and who attend their wedding but very few people know about their success secrets. This blog is about his business secrets If you want to be successful in your business, then you should learn about how he thinks and what all runs in his mind while taking decisions. As per Anand Mahindra, Mukesh Ambani can make the below statement true "Kar lo Dhuniya Mutti Mein"
The person who can give tough competition to Jeff Bezos and Amazon is Mr.Mukesh Ambani
If you are serious about your business, follow the beautiful marketing strategies applied by Mukesh Ambani that you can apply and be successful. We should also understand that there are positive and negative aspects of every human being but we should learn good things and keep going. Before learning about his success, if you want to know about his childhood, schooling and education then click on the below link
The Six success secrets of Mukesh Ambani are listed below
Success Secret No 1: Organization Structure Should be like a centipede
Centipede has many legs almost equal to 100, organization structure should be in the same way so that even if it doesn’t have 2 to 3 feet, there will be no change in the speed of centipede. The same should be followed in the organization. Most of the entrepreneurs generally trust a person, train them, give them time but the employees leave the organization and start a business on their own or join competitors. Centipede structure is the best structure that Mr.Mukesh Ambani follows. We have to build the organization in such a way that it should not be a vehicle that has 2, 3, 4 or 6 wheels but should be like a centipede. You can make an organizational structure like a centipede by following SOP (Systematic Operating Procedure or Standard Operating Procedure). You can make people dependent on business into process dependent by implementing SOP means Standard Operating Procedures.
If you want to gain a basic knowledge of organizational structure, then click on the below link
All the companies of Mr.Mukesh Ambani are SOP oriented that follows step by step procedure and everything is documented. Whoever follows the document, they will get the expected result. Then only the company can grow faster and business can run on an auto mode.
If you want to quit your job and start a new venture of your own, then the below link will help you to understand the market
Success Secret No 2: Set real goals
People generally say to set big goals so that if you are able to achieve at least 30% of it will be really good. The short form for it is called BHAG (Big Hairy Audacious Goal)but you should set realistic goals. The problem with BHAG will be when you set the goal, you will be very excited and feel like achieving them but if you are not able to move towards to your goal, you feel like it is impossible to achieve your goals, deviate from your goal and lose focus from your goal. An Example of BHAG is a 21-year- old entrepreneur thinks that he could make his company grow to 5 to 10crores value in one year or a person with 100kgs think that he will reduce 20kgs in one month. There are people who achieved them but the probability of achieving for the first time is less. Mukesh Ambani has announced the launch of Jio in 2014 AGM but he has launched it much before. It is a commitment that you make to yourself. When you set your goals and achieve them, then that is the commitment of you with your team and your team with you. If you are not able to hit your goals, then it will turn into a bad habit of not hitting the goal. Don’t set BHAG goals but set realistic goals and hit them. That is very important because if you set realistic goals, then you are into your comfort zone.BHAG goals are far away from your comfort zone and you cannot stretch more but you can always stretch little above your comfort zone.
Success Secret No 3: Welfare activities
There are 2 methods of welfare activities. First is like Tatas who give 30% of their earnings to charities and second is to give a product at a price that is very minimal and looks like a charity. Just like Jio plans. Earlier we used to get 4000 bill amount on the internet now it has decreased to Rs 500 to Rs 700. There are 2 ways to give fish to eat for a person who is starving one is give fish to eat or show the person how to find a fish that is exactly the second way. Mukesh Ambani gave in two ways giving a mobile for Rs500 during Rcom and now giving a plan for Rs.500.By this, he is giving strength to a common man and equal opportunity. This is also a way for welfare, great value plus a low price is also a kind of welfare.
This is how a business runs these days. As an entrepreneur, you should always try to be responsible towards society and try to contribute your part for its welfare. Click on the below link if you want to know the kind of social responsibility that you can contribute.
Success Secret No 4: No Cabin Policy
There are no cabins in the plants where Mr.Mukesh Ambani does not go regularly so that he can spend more time on the floor and interact with people and check their problems. A successful entrepreneur should exactly know how the work is going and if the results are good or bad. This is possible only if he goes to the floor and see what exactly is happening on the floor. There is a Japanese term Kaizen which means continuous improvement. If a person is doing the same kind of work on the floor, it is difficult to get new ideas but if a leader checks the same he could get better ideas as he is not working regularly and seeing in a new angle and this is how new ideas will come out and there will be more chances of continuous improvement. The same concept is followed by Mr.Mukesh Ambani, Kaizen’s process of Toyota. It is equally important to be secluded and get creative thoughts and be on the floor and focus on improvements. If there is no improvement in work and if is going in the same way, then you should understand that you are going down because any competitor will work hard to improve his efficiency and reduce costs.
As an entrepreneur, there are few activities that you should do in order to run your business smoothly, Click on the below link to know about the daily tasks of an entrepreneur
Success Secret No 5: Relationship and trust is the bedrock of life
India’s richest man also says that money is not important but the relationship is more important. This may be the reason for giving Anil Ambani Rcom which Mr.Mukesh Ambani has developed during the property settlement in 2006 as he gave more value for the relationship. There was a 10 years gap of no competition and after 10 years history has repeated with JIO. Mukesh Ambani even today spends quality time with his family every Sunday and do not take any calls as he understands the value of a relationship. One more thing which he does very well is to trust us as believing the right people is very very important. You should always have a power team. Your lawyers, CA, Architects and each and every professional like a business coach. There should be a strong team and you should trust them and you should also know why you trust them. That is the power of an entrepreneur to have the right kind of people and have right kind of relationship.
We also have a blog of comparison between Mr. Anil Ambani and Mr.Mukesh Ambani their thoughts and their success secrets.
Click below to know more
When we are talking about relationships, we should also know that Mr.Mukesh Ambani used to respect his father a lot and he used to go to office from 8th and 9th Standard with his dad as he wants him to come with him and Mr.Dheerubhai Ambani never focused on Mukesh Ambani grades but focused on overall development.
Now learning number 6 from Mr.Mukesh Ambani is out of the box marketing
Success Secret No 6: Out of Box Marketing
Mr.Mukesh Ambani has launched Jio on 28th December that was the Birthday of his father Mr.Dheerubhai Ambani, which was internal and not for public but he invited Sharukh Khan, AR Rahma n and Ranveer Kapoor. People thought it was an official launch and everyone started asking for Jio as everyone wants free internet but it was an internal launch and not for the public. In this way, the craze for Jio has increased as people will not accept free as they might think there may be problems. Mr.Ambani has increased curiosity in the public and then he launched officially in 2016 September and distributed more than one and a half crore connections.