Friday, May 12, 2006

Lessons from Michael Dell's desk

Lessons Learned :-

If you've got a idea, it pays to do something about it.

Sometimes it's better not to ask or to listen when people tell you something cant be done.

With every new growth oppurtunity came a commensurate level of risk.

No matter what your industry, try to identify potential problems early and fix them fast.

Involve your customers early in the development process.

Establish a fluidity and consistency of communications.

The right people in the right job are instrumental to a company success.

You need to embrace an experimental attitude in making deccision.

Make failure acceptable as long as it creates learning oppurtunites.

Delight your customers.

Dont be satisfied in learning only about your industry.... learn as much as you can about your customers previous experience, not only with your competitors, but with other companies as well.

Go beyond selling your product or services, and make yourself valuable to your customers as an advisior.

Speed for market is important for two reason. One is that it creates competitive value that can be shared between buyer and supplier. The other is that when it comes to delivering the latest product - no matter what it is - you're either quick or you're dead.

Dont underestimate the value of information.

Flip the equation: Dont settle for the standard supply/demand relationship. Work towards demand/supply.

Differentiate for the competitive edge.

Learning to thrive on constant change is the next frontier.

Reorient your priorities : Price is not the prevailing factor in the connected ecconomy; as the internet levels the competitive playing field, competitive value is more apt to be found in execution.

Stress personalization, convenience, ease of interaction for your customers.


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