Motivational Story of Dhirubhai Ambani
Dedication and hard work can make even a high school drop out, one of the world’s richest man. Dhirajlal Dhirubhai Hirachand Ambani, Padma Vibhushan, Indian businessman and founder of Reliance industries.
The great businessman Dhirubhai Ambani was born in 1932 in Chorward, Gujrat. His father was a school teacher, but unlike his father, he had no interest in formal education.
At very young age, Ambani started showing his leadership skills. He was elected as General Secretary of Junagarh Union, while he was studing in school at Junagarh.
In his opinion, education was not necessary to be rich. He left his school and started selling snacks.
In 1948, at age of 16, because of poor financial condition and his father’s poor health, Dhirajlal Ambani went to Aden, Yemen to earn money. He started working on a petrol pump. Then he started working as clerk in Besse and Co. for ₹300 per month.
Apart from clerical job, Ambani kept on working part time for extra income. Which left him with more money than his friends. He wanted to start his own business to become rich.
Because of his hard work, Dhirubhai got promoted to post of manager. While doing his job, he learnt accounting and bookkeeping. He developed his understanding and skills of trade, export, import, marketing and distribution, dealing with insurance and banking companies. After working for 2 years in Yemen, he left his job. With a vision of starting his own business, he came back to India.
In India, with his cousin Champaklal Damani, he started business of export and import of spices and polyster thread and the Reliance commercial Corporation was born. Although, his family didn’t support his decision of doing business, but he trusted his great business sense.
Ambani took huge risks in business. He exported spices and sugar in bulk at very low price, keeping very low margin with himself. He understood the market and started importing polyster, which was cheap, shiny, glossy and new thing in India. Soon Indians started preferring polyster over cotton.
They started with office of just 350 square, with only 3 chairs, 1 table and one telephone. Soon his company started yeilding turnover of 10 lakh per annum.
In 1965, both brothers ended their partnership because of differences in their business mentality and style.
Within one year, he started his own Reliance Textile Industries Pvt. Ltd. in Maharashtra. In the same year, he also started a synthetic fabric mill to produce best quality of nylon in Gujarat. He started travelling to Gujarat every weekends to check out the factory work.
Ambani wanted to produce nylon with best quality within minimum time and cost. He offered his quality fabric at low price to wholesellers. But no wholeseller touched his fabric, fearing him entering their exclusive club. For four months, all the fabric kept pilling up in Reliance warehouse. Ambani didn’t accept the defeat. He started travelling across the city, retailer to retailer with car full of his fabric convincing them to sell his produce. He offered them his fabric at zero initial payment. He asked them to pay him only when his products get sold out. His charisma and risk taking attitude impressed retailers. Soon his fabric brand ‘Vimal’ became famous in market, without any promotion or advertising.
In 1975, he received nod of excellence from world bank.
In 1977, company held its initial public offering (IPO). And they got seven times oversubscription of issue. He promised his dealers that he will be sole bearer of losses, but the profit will be shared.
With time, Reliance diversified it’s business into different sectors like telecommunications, power, energy, retail, infrastructure, textile, information technology, logistics and capital market.
Ambani had spirit of being best. He didn’t like the idea of being on second number. He started from grassroot level and made Reliance Industries largest conglomerate in India and first Indian company to feature in list of Forbes 500.
AsiaWeek magazine featured him among Power 50 – the most powerful people in Asia – 1996, 1998 and 2000.
In 2000, he was voted as “Greatest Creator of Wealth in the Centuries” by the poll conducted by the Times of India.
He was awarded by “Economic Times Award” for lifetime achievement for corporate excellence.
The legendary businessman took his last breath in 2002, leaving his legacy behind. He transformed himself from clay to steel with his hardwork.
In 2002, postal stamp was released on Dhirubhai Ambani by Indian post.
He was named “Man of 20th Century” by FICCI (Federation of Indian Chamber of Commerce and Industry).
In 2016, Government of India awarded him with Padma Vibhushan, second highest civilian award of India.
Dhirubhai Ambani revolutionized the Indian capital market and shaped culture of equity in indian market. Unlike other big businessmen, he took care of interest of even small retailers.
Ambani’s zeal to grow, his understanding of market and concern towards his each and every stakeholder made him different and successful. He believed in thinking big, thinking fast and thinking ahead, because ideas are no one’s monopoly. You just need to dream big, stay committed and put all your efforts to achieve it.
Source : Internet