Commonly known as Indian steel magnate with Net Worth $12 Billion in 2016, Lakshmi Mittal is the Chairman and CEO of the world's largest steelmaking company, ArcelorMittal. Here are his top 10 rules for germinating startups:-
Knowledge is the key- He personally believes that if you have knowledge, ambition, focus and if you are determined use it to grow. Knowledge is power in simple words knowledge is the key to success.
Take bold decisions- It's your decisions that differs you from others. The decisions that you take need to be very transformative and it has to succeed. Bold decisions are not easy and free from risk so before taking them you have to apply your full experience, see and analyse through the situation and risk. One can only make a step change in their career by taking such big, bold decisions.
Be responsible- A company's long term success directly depends up on being responsible. Being responsible not only provides you with more opportunities but it also builds a good reputation and a sense of belongingness towards the company.
Don't set high goals- Laxmi never sets high goals for himself. He believes to work in present and try to achieve that very target. His goals keeps on changing as he proceeds in life. One should not set high goals to avoid disappointment rather should focus on small targets and its completion ultimately leading to big milestone as a whole.
Seize the opportunities- Opportunities don't come everyday. For being successful one should make and derive the maximum out of the present opportunities available in front. Opportunities serves as challenges, which are very important for the growth and diversification of any firm.
Prove your critics wrong- Critics are the people who shows the reality and tells you about the mistakes. In this competitive world only those firm achieves milestones who learns from their mistakes and take critics in positive sense.
Dont lose focus- The most important rule for success is to maintain your focus. Being focus on what you desire will only lead to your growth as an individual and startup as a whole. Being focus here means taking any sort of steps small or big but towards the path of success.
Get experience- Nothing is more beneficial than the experience one poses. Experience does not come by education but it can only be acquired by continuously working, sharing and learning from others experience.
Lead by example- For motivating and inspiring everyone, it's your duty to lead by example. True leader never gives commands to his team but lead by doing things what he wants others to do.
Do things differently- For survival, stability, growth and diversification one should always do things in one's own manner or differently from others. In such competition a firm's growth directly depends there focus on core activities, doing the same work,task, activities but in different manner that what makes the difference.