Mukesh Ambani’s Reliance Jio has shaken the telecom market. The man has started a price war among big telecom companies. Business tycoon, Mukesh Ambani is the richest man in India, and has a net worth of $23.3 billion.
He runs the third most profitable company in the country, Reliance Industries Limited. Also, he has businesses in energy, petrochemicals, textiles, natural resources, retail, and telecommunications.
While speaking at the Nasscom Leadership Forum in Mumbai, Mukesh Ambani shared the golden words his father taught him about business when he was about to enter this competitive world. He said,
Treat your investors’ money even more carefully than your own money. And secondly, you cannot do anything without the right team – these two are non-negotiable for me.
Ambani recalled the first business lesson that his father taught him and said,
The first piece about entrepreneurship was taught to me by my father after I returned from the US. I asked him for my roles and responsibilities and my job, and he told me if I want to do a job, I have to be a manager.
Recalling his father’s words he said,
An entrepreneur will figure out what to do.
Business tycoon, Mukesh Ambani, pointed out that finding your true passion can take you up towards success.
It’s not solving problems, but it is finding the problems. Once you find the problem, then you solve it.The third thing that I learnt, and which we have now institutionalised at RIL, is that you have to create societal value.
You have to solve a problem that actually does good in some way. That has to be the objective and financial returns are actually a by-product. If you focus only on financial returns, the chances are that you will not really become great and solve your own passion.
talking further he insisted over the power of the right team, he said,
It is very important to align the team passionately to your own vision. And finally, an entrepreneur is always positive. He is an optimist. There are lots of cynics and negative people around, but entrepreneurs spread positive energy.
The RIL Chairman laughed, saying that failure is a part of any business and said that all of them come with something to learn from.
Never get disheartened by failures. Learn from them, but never give up.
If you want to do something big in life, then you should make note of these words of wisdom!