Preface: “If you’re not passionate about what you do, it will reflect on your work and your performance, and eventually, stop you from achieving your full potential.” — Quote from Michael Dell of the “Michael Process”
The “Michael Process” – A Case Study (Segment VI)
His father was a stockbroker and an orthodontist; his mother was a money manager. The genius of the “Michael Process” yes, Michael Dell was ambitious from first grade. So where is the “Michael Process” right? At the early age of eight, Michael was already dreaming about his career in business. Attending Herod Elementary School in Houston, Texas, he made serious endeavors to earn his high school diploma by passing an equivalency exam from a testing company he persuaded to give him the opportunity.
It was four years later until his business career began at the age of twelve, embarking on a mail order stamp and baseball cards trading business, he earned $2,000. Two year later, at fourteen, he obtained an Apple II and invested weeks learning how the computer worked. Following those early years, at the age of sixteen, Michael worked as a marketing executive for the Houston Post making cold calls. Creating a process of identifying top prospects who would purchase, he hired his high school buddies to leverage the department. That year he earned more than his school teacher with a taxable income of $18,000.
“In the next seven years, Dells business venture climbed at a dizzying rocket pace to list his company among the Fortune 500. Dell was the youngest CEO every to achieve the accomplishment.“
After graduating from high school, at eighteen, Michael started his career in computers, working from his dorm room at University of Texas. Declaring he wanted to compete with IBM, his passion for business drove him to dream big. The market data indicates IBM and IBM clones sold in 1983 exceeded 1.3M units. Registering the name “PC’s Limited” with his cash trove from marketing he was insightfully prepared for the market opportunity. A year later (without a college degree) he departed University of Texas to work at his new business “Dell Computer” full-time.
With his developed marketing acumen, Dell sold his hand built computers with one year of free service and a warranty. Soon he had hundreds of happy customers. In the next seven years, Dells business venture climbed at a dizzying rocket pace to list his company among the Fortune 500. Dell was the youngest CEO every to achieve the accomplishment. Dell is quoted as saying “If you’re not passionate about what you do, it will reflect on your work and your performance, and eventually, stop you from achieving your full potential.”
“Within twenty-five years after its IPO, Dell Computer stock soared 87,000 percent, creating 2,700 millionaires including secretaries and executives when Michael Dell led the $24.4B sale of his company. It all started with a dream to compete with IBM.”
Years after endeavoring to complete high school at the age of eight, Dell said “One of things I benefited from when I started this business was that I didn’t know anything. It was instinct with no preconceived notions. This enabled me to learn and change quick without having to worry about the status quo, like some of my bigger competitors.” [Author’s note: he must have simply blazed his own path very successfully to reach the Fortune 500 listing.] Built with top talent from Harvard and Stanford with an eighteen-hour work day culture, Dell Computer business management was demanding and bottom-line oriented.
“When you wake up [each day], are you pumped about your day, or are you hitting the snooze button every ten minutes? Tiny as it may seem that may mean all difference between failure and success.”
Within twenty-five years after its IPO, Dell Computer stock soared 87,000 percent, creating 2,700 millionaires including secretaries and executives when Michael Dell led the $24.4B sale of his company. It all started with a big dream to compete with IBM.
Along with the “Michael Process”, Dell encourages entrepreneurs to dream big, and do it with integrity, character and love. “When you wake up [each day], are you pumped about your day, or are you hitting the snooze button every ten minutes? Tiny as it may seem that mean all difference between failure and success.” Dell is one of the richest tech entrepreneur, and his journey is rich with business experience and learnings. In addition to the history of the “Michael Process” Dell has a great story for any ambitious entrepreneur(s).