Michael Dell revolutionized the personal computer industry by skipping the middle man and selling directly to the customer. He also innovated PC manufacturing by developing a process to mass-produce individually made-to-order computers. He then enabled customers to order these personalized computers directly online. His innovations in manufacturing and distribution have made him one of the most successful businessmen of our time.
How It Started:
Michael Dell, born February 1965, started the road to success out of his University of Texas dorm room in 1984 with just $1,000 and an idea to provide affordable personal computers to college students. Dell is now Chairman and CEO of his company with a net worth of over $30 billion. Dell sells primarily direct to the customer to avoid middleman mark-ups.
Dell Computer Corporation:
Dell is the world's largest PC manufacturer, growing from $6 million annual revenue to over $40 billion in only sixteen years. It employs over 40,000 people in over 170 countries worldwide. Dells product line has diversified to includes not only PCs and network servers, but storage systems, printers, hand-held computers, MP3 players, and televisions, plus a wide selection of computer services. Dell is the largest online computer retailer, selling an average of $30 million a day.
In 1992 Dell became the youngest CEO ever to earn a ranking on the Fortune 500. Dell has also been recognized "Entrepreneur of the Year" by Inc. magazine, "Man of the Year" by PC magazine, "Top CEO in American Business" by Worth magazine, and "CEO of the Year" by Financial World and Industry Week. Dell Computer is also Fortunes "Americas Most Admired Company" and #3 globally.
Michael Dell is the author of Direct from Dell: Strategies That Revolutionized an Industry. The book includes the story about his rise to the top and also his business philosophy. Not even the age of forty and Michael Dell is one of the richest people in the world.