Michael Dell was part of the growth of personal computing in the eighties by creating the Dell computer Corporation which now goes by the name Dell Inc. Dell has progressed to be an investor, an author, a philanthropist and one of the richest people in the world.
Michael Dell’s estimated net worth is $22.4 billion.
Dell has always had the type of mind that likes to pick things apart and find solutions to problems.
These are the skills that made him a billionaire.
Michael Dell’s Early Life
Michael Dell had a strong work ethic from an early age. Aged just twelve, Dell took a job doing the washing up in a local restaurant so he could save up money to build his growing collection of stamps. A few years later, Dell took a summer job selling subscriptions to the Houston Post and it was here where he began to work on his business mind.
Selling the subscriptions involved making calls and instead of just mindlessly picking up the phone, Dell analysed his results. He noticed that people who were in the process of building a life in the area were much more likely to buy a subscription. Acting on his findings, Dell collected the details of people in the area who were buying a house or getting married. The result of this inspired action was Dell’s amazing earnings for a high school kid at the time of $18,000!
Michael Dell harboured a growing interest in new technological advances and aged fifteen he bought an Apple computer with the goal of dismantling it to see how it operated.
Dell was still a student when he started a small business developing and upgrading personal computers. He eventually became a registered vendor so he could bid on contracts he knew that he would win because he didn’t have the running costs of a computer store.
At the start of 1984 Dell acted on the idea that a manufacturer selling personal computers directly had many advantages over the retail route that involved middlemen. Dell registered the company PC’s Ltd which was run from a condo, selling $70,000+ worth of PC’s and PC upgrades. In May of the same year Dell was forced to relocate to a bigger premises as well as incorporating the company to become Dell Computer Corporation. Dell employed less than ten people and the capital required to fund the new venture was only $1,000.
It was at the age of twenty seven that Michael Dell became the youngest CEO to feature in Forbes Magazine’s list of top 500 corporations. In 1996 Dell launched the online sales part of his business and soon reached internet sales of $1 million per day! By 2001 Dell had earned the title of the largest creator of personal computers on the planet.
Michael Dell’s Philanthropy
Michael Dell has always believed in giving back and as a result set up the Michael and Susan Dell Foundation with his wife in 1999. The foundation spends time helping city education, children’s hospitals and family economic stability as well as many other charitable causes. By the end of 2009 the foundation had donated more than $650 million to community work and children’s issues in the United States and around the world.
“A bunch of guys sitting around trying to decide what we want to have done with our money after we’re dead, that’s not a very good idea, forget all that. We’re going to do this while we’re still here and get it right.” Michael Dell
The foundation have given more than $65 million worth of grants to medical organizations associated with the University of Texas: The Dell Children’s Medical Centre, The Dell Paediatric Institute and the Michael and Susan Dell Centre for Advancement of Healthy Living. They are also responsible for funding a new Computer Science building at the University’s Austin location.
It hasn’t all been plain sailing for Michael Dell and his company in recent years. The company had to front a bill in excess of $300 million to repair faulty machines, which led Dell to lose its badge of honour of being atop of the computer production industry. Not one to shy away from a challenge, Michael Dell returned as CEO in 2007. Results have been mixed but Dell remains persistent.
In the summer of 2010 Michael Dell encountered more controversy when he settled $100 million worth of charges of accounting fraud. The charges alleged that Dell Computers stated higher than actual earnings which in turn misled investors.
With the typical persistence and positive mindset of any billionaire entrepreneur, Dell took the company private again. He used a private equity firm and Bill Gates‘ Microsoft to launch the buyout of all of Dell’s outstanding shares. This led to what became one of the largest buyouts in recent times with the deal valued at around $24 billion.
It is inspirational how Michael Dell has managed to create this new chapter for his company. Although there are still challenges to face he continues to take progressive action.
“Passion should be the fire that drives your life’s work.” Michael Dell
Michael Dell’s Success Story
Michael Dell has combined innovation, passion, persistence and a focus on solution finding to become a Billionaire. It was a curiosity coupled with hard work that ignited an entrepreneurial fire within Michael Dell a young age, a fire that will never go out.
As this passion continues to grow, Dell uses all of his skills, abilities and mindset to overcome any challenge or controversy and remains committed to making a positive difference in lives less privileged than his own.
From a Condo to the world, the Michael Dell story teaches us that no dream is too big and that any idea that we have can take us further than we could ever imagine as long as we take action on it.
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By investing your time and effort in networking, you will gain more business through the relationships you make
Are you completely new to networking?
Then this article is a great place to start. Networking isn’t hard on paper…you go along to online and in-person meetings, make new connections and build relationships, and those relationships lead to more work so you can grow your business! The challenge is that in reality, it isn’t quite so straightforward, as our emotions get involved and make things much tougher.
It’s incredibly common for nerves to creep in and to feel overwhelmed and apprehensive when it comes to networking – even when it isn’t new to you. But how can you become more successful at it, feel less self-conscious, and make networking work for you and your business?
Here’s a few tips to help you embrace every business networking opportunity you get, so you can grow your business and achieve your goals.
Rock up with confidence
If you want to keep those nerves at bay and ooze confidence at networking get-togethers, you’ll need to downplay it rather than seeing it as a big occasion. Try not to put pressure on yourself and see it as a casual meet-up with a bunch of people with similar goals to you. To help you relax in the run-up to the event, be sure to set achievable goals and expectations before you go.
Keep your chin up and your goals in mind – positivity is key. One easy goal for your first networking meeting is very simply to speak to one other person and see where the conversation goes. Introduce yourself and your business, but take the time to listen to their story, too. It’ll only take a few minutes and will be over before you know it, so it’s nothing to fear. You may even enjoy it and want to speak to a few more people, too!
Where to go networking
If you’ve never been networking before, it might not be very easy to find a group – but only because there’s so much choice and you don’t know where to start your search! Groups come in different sizes and styles, so it’s important to find one that suits you and your business. Informal, formal, big, small… the choice is yours.
For your first meeting, start small to ease yourself in – a big group could prove too daunting, and stop you from feeling comfortable enough to get involved. After all, you want to make a strong first impression!
If you’re wondering which group to opt for in the long-term, give a few a go! Get a feel for them, speak to as many people as you can, and see which one suits! You’ll know when a group feels right for you, and you can see where those all-important relationships are most likely to be built. If a group doesn’t feel like the right for you, give a different one a go.
Get more leads and referrals
This will happen for you, as long as you put the effort into building those relationships. If you take the time to get to know people, and then check in with them and support them, they’ll see you as a trustworthy and reliable contact who they can call on. And when they feel that way, those leads and referrals you’re looking for will come a-knocking.
Once you’ve made relationships with people who you trust, and they’ve had a positive experience working with you, you can even ask for referrals! But don’t rush this, as you don’t want to inadvertently push people away or try and force the relationship along too quickly.
When you do get an opportunity to work with someone you’ve met at a networking group, go above and beyond to offer more value than they’re expecting, as then, they’ll be much more likely recommend you and introduce you to more of their contacts!
Grow your business
By investing your time and effort in networking, you will gain more business through the relationships you make, and you will be able to grow your business.
We know that it’s not easy, going networking for the very first time. And that’s why we want to give you all the advice and tools that you need so you can walk in with confidence and make the most of the opportunity.
2023 is just around the corner, and you have the chance to make it the year you make networking work for your business. And the benefits could be incredibly amazing for your business, just like they have been for ours, and many business owners we have worked with over the years.
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