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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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I'm a big believer in online communities and in user-generated content.
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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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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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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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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.
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Anything that can be measured can be improved
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If we have 99% [market] share of Ford Company, the question to us is 'How do we improve the customer satisfaction in order to get that additional 1% share?
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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.
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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.
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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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Don't spend so much time trying to choose the perfect opportunity, that you miss the right opportunity.
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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.
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One of the things I benefited from when I started this business was that I didn't know anything. I was just instinct with no preconceived notions. This enabled me to learn and change quickly without having to worry about maintaining any kind of status quo, like some of my bigger competitors.
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I had to give it a full go and see what happened.
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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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One of the things was to create a kind of amnesty environment.
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It had always made sense to me to build a business based on what people really wanted, rather than guess what we thought they might want.
Michael Dell
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There's always an opportunity to make a difference
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Collaboration equals innovation.
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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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