Quote

I believe that you have to understand the economics of a business before you have a strategy, and you have to understand your strategy before you have a structure. If you get these in the wrong order, you will probably fail.

Michael Dell

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Michael Dell
Age: 59
Born: 1965
Born: February 23
Businessman
Computer Scientist
Entrepreneur
Financier
Houston
Texas
Michael Saul Dell
Probably
Wrong
Understand
Business
Economics
Order
Strategy
Believe
Fail
Structure
Failing

More quotes by Michael Dell

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Collaboration equals innovation.
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There is no better catalyst to success than curiosity.
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I had to give it a full go and see what happened.
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Recognize that there will be failures, and acknowledge that there will be obstacles. But you will learn from your mistakes and the mistakes of others, for there is very little learning in success.
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I'm pretty active anyway, but I'm also competitive.I used my Fitbit as an example of the innate power of data to turn information into insights and actions.
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Whether you've found your calling, or if you're still searching, passion should be the fire that drives your life's work.
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There's always an opportunity to make a difference
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You don't have to be a genius or a visionary or even a college graduate to be successful. You just need a framework and a dream.
Michael Dell
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I always knew I wanted to run a business someday.
Michael Dell
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Anything that can be measured can be improved
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You just have to change. To be successful, what you have to do is have an acceptance of risk and you have to be pretty explicit about that, because if you don’t accept risk, you don’t get any innovation. And that means part of risk is you have to accept failure because not everything works.
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By questioning all the aspects of our business, we continuously inject improvement and innovation into our culture.
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From the time I was 7, when I purchased my first calculator, I was fascinated by the idea of a machine that could compute things.
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Don’t be afraid to fail. Get out there and experiment and learn and fail and get a rate based on the experiences you have. Go for it and when you go for it you’ll learn what you’re capable of, what the potential is, where the opportunities are, but you can’t be afraid to fail because that’s when you learn.
Michael Dell
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We've found that customers are very open. They'll tell you what's going on, what's working and what's not. They're looking for help.
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People ask me all the time, 'How can I become a successful entrepreneur?' And I have to be honest: It's one of my least favorite questions, because if you're waiting for someone else's advice to become an entrepreneur, chances are you're not one.
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We were always focused on our profit and loss statement. But cash flow was not a regularly discussed topic. It was as if we were driving along, watching only the speedometer, when in fact we were running out of gas.
Michael Dell
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I have no doubt that in the future, wearable devices like Fitbit will know my blood pressure, hydration levels and blood sugar levels as well. All of this data has the potential to transform modern medicine and create a whole new era of personalized care.
Michael Dell
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Don't spend so much time trying to choose the perfect opportunity, that you miss the right opportunity.
Michael Dell
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If you want to sustain excellence over a long time, you'd better come up with a system that works well. Anyone can sprint for a little while, but you can't sprint for forty years.
Michael Dell