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What made Dhirubhai Ambani a Business Genius? | Business Case Study
We all know that Dhirubhai is one of the greatest businessmen in the history of India! But very few actually know in depth as to what were the business strategies that made Dhirubhai Ambani the most successful businessman of his generation! Did you know that back in the 1960s, India was one of the most difficult places to do business! Let alone venture capital and digitalisation, the underworld in India was extremely powerful, there was a stigma around business in the country, and if you still had the courage to enter the trading industry, even if you wanted to buy a pair of shoes from another country, it would take you anywhere between 3 months to an entire year and that too with a 100% tax!! Cherry on the cake, even Income tax was as high as 88%! But even during this tough times, with no money, no connections and with a 10th grade degree, dhirubhai grew Reliance at such a rapid pace that in 1970 while Reliance generated a revenue of 4.9 crores Rupees, by 1972 it was 12.7 crores by 74 it was 30.2 crores by 76 it was 62.8 crores by 78 it was 120 crores and by 1980 it touched an 240 crores Rs!!! So do you realize, in just 10 years, Reliance grew by 48 times to become one of the largest companies in the country! So the question is, Even in such difficult conditions, how did Dhirubhai Ambani go from a petrol pump employee to becoming the biggest Business magnate in India? What were his business strategies that made him so rich and so successful? How did he manage to grow so fast in spite of super tight government regulations? And most importantly, what are the business lessons that we need to learn from the iconic rise of Dhirubhai Ambani?