5 SUCCESS MANTRAS OF ADITYA VIKRAM BIRLA
Aditya Vikram Birla was the founder of the ADITYA BIRLA GROUP, an Indian Conglomerate with current turnover of $48.3 billion.
Mr. Aditya Birla was one of the first truly international businessmen that India had. Under his leadership, the group companies became market leaders, not only in India, but also in South East Asia. Some of his group companies include : Ultratech Cement, Hindalco, Grasim, Vodafone Idea, Indo-Thai Synthetic etc.
It was mainly due to his efforts that the Aditya Birla Group became one of the top three business houses of India along with Tata and Reliance.
So, what was the secret of his phenomenal success?
#1: Dream BIG : Right from a very young age (when he was studying in MIT), Mr. Birla had made up his mind that he wanted to do something REALLY BIG in business. Although he was the grandson of legendary businessman Mr.G.D.Birla and the son of Mr. B.K.Birla , he did not want to rest on their laurels, and CREATE something on his own. And so, he set up various businesses in South East Asian Countries where he was out of the influence of his father and grandfather, and made them into HUGE success.
#2: Focus: Mr. Birla was focussed on certain businesses, mainly commodities like Cement, Textiles, Chemicals, Aluminium, Carbon Black, VSF etc. He had in depth knowledge of these businesses and was determined to be the top player in each of these businesses. It was due to a concentrated effort over the years, that his companies became market leaders in each of these segments.
#3: Remain Calm: One of the most appreciated quality of Mr. Aditya Birla was that he was a very balanced and calm person. It was very rare that he behaved impulsively. One such occasion was when he was in a factory meeting at 3 o’clock in the night. Suddenly, there was a fire in the boiler in their factory located opposite the premises in which he was having the meeting. There was a panic in the staff. But, Mr. Birla was calm and composed. He told them that the management of that unit will take care of that problem. And, they should continue with their meeting without any distraction.
#4: Decentralisation: This was one of the hallmark practices of Mr. Birla. He used to select the best talented people and delegate the tasks to them. For example, the head of a factory was given certain targets for a period of six months, like production capacity, cost of production, profit margin etc. This was then reviewed after the specified period and further targets were set for the future. Mr. Birla had full faith in his A-team and did not interfere in their day to day working. This was the reason he could scale up his businesses to unprecedented levels.
#5: Daily P&L A/c: This was another hallmark practice of Mr. Aditya Birla. Everyday, he got the daily Profit and Loss Statement for every unit of each of his companies ON HIS TABLE. This kept the CEOs/Senior mangers on their toes. It is said that finance is the lifeblood of any business. And, one who can control finance and people is sure to achieve success in business.
So, which of these success mantras do you like the best, and would like to implement immediately in your business? Please let me know in the comments section below. Thanks.
(Note: You can also watch the video on Five Success Mantras of Aditya Vikram Birla below)
