homeentrepreneurship News

Here are 9 rules to success from India's richest man Mukesh Ambani

Here are 9 rules to success from India's richest man Mukesh Ambani

Here are 9 rules to success from India's richest man Mukesh Ambani
Profile image

By CNBC-TV18 Mar 7, 2019 10:24:47 AM IST (Updated)

Mukesh Ambani, considered as an extreme innovator and believer in game-changing businesses of the future, is the chairman of $60 billion (revenue) oil and gas giant Reliance Industries Limited (RIL), a Fortune Global 500 company and India's most valuable company by its market value.

Recommended Articles

View All

Ambani, 61, is the richest Indian and ranks 13th on Forbes World's Billionaire list with a wealth of $50 billion. He also revolutionised the telecom sector by launching Reliance Jio in 2016. RIL sparked a price war in India's hyper-competitive telecom market with the launch of 4G phone service Jio.
Here are Mukesh Ambani's 9 rules to success in his own words:
Be Courageous
The first lesson is courage. Nobody has ever achieved anything big in business or in any walk of life without courage. Of course, whenever you do anything big you do feel a little scared but you have got to conquer fear to discover the hidden hero within you. With courage, with self-belief and the can-do spirit, you can overcome any adversity.
Find And Solve Problems
The second piece that I learned is that as an entrepreneur, it's very important to find a problem that you want to solve that you are passionate about. I was blessed to have professor Sharma at the University Department of Chemical Technology (UDCT) (now Institute of Chemical Technology (ICT)).
He would always say I am not going to give you a list of problems and then you can go and work on anything, you find a problem and then I will grade you on the quality of the problem that you find and then I will grade you on the quality of solution that you actually do. So the same rules apply for an entrepreneur that it's not solving problems, it is first finding problems. Once you find the problem, then you solve it.
Work Hard
Put on your running shoes, but remember that personal and professional success is not a sprint but a marathon. We are lucky to be living in a dynamic world where anything is possible but it is important to remember there are no overnight successes you will need to be dedicated, single-minded and there is no substitute to hard work.
Also, remember that in this marathon of life is not a rat race, it is important to achieve our goals but not at any cost.
Serve A Higher Purpose
My father (Dhirubhai Ambani) started RIL with $100. When I joined RIL in 1980, the market value of the company was $30 million or $40 million and in 30 years, the opportunities that were provided by this country has enabled us to create wealth for India.
My father was a big believer that any business that has the sole purpose of making money is not worth doing, it must serve a larger societal purpose. RIL raised all its money from capital markets and from individual small shareholders, so we have created a million millionaires just by investing in RIL out of ordinary Indians and that is the process of creating wealth for the country. Once you create opportunity wealth comes.
Accept Failure
Failures are normal. With all the success that one sees, people even in my own case don't see how many times I have failed before I succeed, they are just a step before you succeed. So never get disheartened by failures learn from them but never give up.
Ignore The Naysayers
Keep your headphones on, fill your ears and minds with melodies of optimism, turn out the critics and the cynics, the naysayers - people who say this cannot be done and treat them as noise cancellation. Dance to your own music and take some risks in life because it is often the risk taker who changes the course of history, who innovates, who creates something the world desperately needs and contributes to the well-being of millions of lives.
Feel Empathy
Empathy means caring and sharing with every human being in our organisation and the world at large, the more we care the higher we grow as human beings. I understand empathy as 'Dil Ki Daulat', it is the wealth of your heart, the more you spend it on others the more wealthy you become.
Make Memories
I think this whole business of making memories - it is such a simple statement but I think it's profound in saying that and particularly now after papa, the only thing that we have of him are his memories and they are very dear to us. Nita used to always say this, that every moment is important and that's what life is all about and I understand what she's saying.
Always Be An Optimist
An entrepreneur is always positive, he's an optimist. There are lots of cynics, lots of negative people around but an entrepreneur spreads the positive energy that's really what I have learnt.
Watch the original video of this interview here.
Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Top Budget Opinions

    Most Read

    Market Movers

    View All
    Top GainersTop Losers