"I realized that the computer market was very inefficient.
The mark-ups were incredibly high over the cost of materials
and the service was very poor."
Visionary, leader, entrepreneur, boss and manager are several descriptive words for Michael Dell of the billion-dollar company, Dell Computer Corporation. He has been honored with titles such as "Entrepreneur of the Year", "Man of the Year", "Top CEO in American Business" and has also graced Fortune Magazine's Top Ten Most Powerful People. Not bad for a college dropout, eh?
A former medical student aspiring to be a doctor, he built computers in his dorm room as a hobby. In 1984, with $1,000 and an extraordinary desire to succeed, Michael Dell founded the Dell Computer Corporation. Twenty years later his company boasts revenues of over $43 billion dollars and is considered the largest online commercial computer seller in the world.
Mr. Dell's success does not come about because he manufactured a product everyone "needed".
He manufactured a product everyone "wanted". He distinctive method of marketing computers was to sell directly to the consumer and taking out the middle man (retailer). His unique and innovative practice: "its products are not manufactured until after they've been ordered...to [the customers] own specifications." His "hobby" now makes his company over $40 million per day. The one-man operation out of his dorm room has grown to over 47,800 employees in thirty-four countries. Now Michael Dell is considered one of the forty richest men under the age of forty.
Its not enough to be the CEO of a major corporation, he also serves many committees such as the U.S. Business Council, Computer Systems Policy Project and the International Business council. He is also an IT governor of the World Economic Forum. To add to his outstanding list of...