Dhirubhai Ambani, founder of the Reliance Industries, was no ordinary leader. He was a man who gave management a whole new “ism”.

There is a new “ism” that I’ve been meaning to add to the vast world of words for quite a while now. Because, without exaggeration, it’s a word for which no synonym can do full justice: “Dhirubhaism”.

1. Dhirubhaism No 1: Roll up your sleeves and help.
2. Dhirubhaism No 2: Be a safety net for your team.
3. Dhirubhaism No 3: The silent benefactor. This was another of his remarkable traits. When he helped someone, he never ever breathed a word about it to anyone else. There have been none among us who haven’t known his kindness, yet he never went around broadcasting it.
4. Dhirubhaism No 4: Dream big, but dream with your eyes open.
5. Dhirubhaism No 5: Leave the professional alone! no supervision, no policing. In fact, the only direction that he gave me, just once, was this: “Produce your best.
6. Dhirubhaism No 6: Change your orbit, constantly!
7. Dhirubhaism No 7: The arm-around-the-shoulder leader. He would instantly put his arm around people & proceed to discuss the issues at hand as we walked. With that one simple gesture, he managed to achieve many things.
8. Dhirubhaism No 8: The Dhirubhai theory of Supply creating Demand. He was not an MBA. Nor an economist. But yet he took traditional market theory and stood it on its head. And succeeded.
9. Dhirubhaism No 9: Money is not a product by itself, it is a by-product, so don’t chase it.

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There are many college and school dropouts who have amassed a huge amount wealth. Here are some college dropouts who went on to become billionaires. . .

The billionaire college dropouts list shows that a combination of qualities like vision, determination, hard work, business acumen, ability to spot an opportunity and turn it into a winning venture, leadership and motivational skills, etc is more important than a college degree.

 

1. Bill Gates - Founder Microsoft.
2. Steve Jobs - Founder Apple.
3. Dhirubhai Ambani - Founder Reliance.
4. Carl Icahn - Leading Global Investor (Leading a shareholder revolt to unseat Yahoo’s Board).
5. Li Ka-Shing - Chairman of Hutchison Whampoa and Cheung Kong Holdings.
6. Subhash Chandra - Founder of Zee TV and the Essel Group.
7. Roman Abramovich - Russian businessman best known for owning the UK’s Chelsea Football Club.
8. Ralph Lauren - Fashion King, Chairman and CEO of Polo Ralph Lauren Corporation.
9. David Geffen - Founder of Geffen Records and Dreamworks SKG.
10. Lawrence Joseph Ellison - Co-founder and CEO of Oracle Corporation.
11. Gautam Adani - Chairman Adani Group, one of India’s largest export & trading houses.
12. Andrew Carnegie - Industrialist and steel tycoon of yesteryears.

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There is a misplaced sense of romance about entrepreneurship.

If you want to be an entrepreneur in order to become wealthy, my suggestion is, don’t. There are very few entrepreneurs I know who succeeded without a long period of financial struggle, belt tightening and personal sacrifice. More often than not, success will take longer in coming than you think. There will be times when at the end of the month there will not be enough money to pay the office rent and employee salaries, but you will somehow scrape though.

There will be times when you yourself will not be able to take home a salary for months. There will be years on end when you will be financially the worst-off person in your batch from business school.

During these years, you will need to make compromises on your lifestyle—the house you are able to afford, the car you drive, the holidays you take, the restaurants where you eat and the schools your children go to.
And all this without any guarantee of success, in search of the big idea, hoping for venture capital funding— years without any light at the end of the tunnel.

To read the entire article please click on this link.
http://www.livemint.com/2008/08/14022048/Entrepreneurship-it8217s-a.html

Author: Sanjeev Bikhchandani,
Co-founder of Info Edge India (Naukri.com)
Published in: http://www.livemint.com (The Wall Street Journal)