3 Ways to Make Your Business as Big as Gautam Adani’s
From being a Gujarat diamond merchant to one of the world’s richest people, Gautam Adani is a phenomenon. His estimated net worth was boosted mainly by an over-five-fold jump in the market capitalization of his group of companies in the last two years. But what is the secret sauce that caused him to surpass every business person and etch his name in the pages of history? In one of my favorite episodes of Figuring Out Podcast, I had the privilege of speaking with Senior Journalist and educator RN Bhaskar. He is widely famous for covering Gujarat industrialist Gautam Adani, the world’s third richest man. But how did he get there? And does any business build foundations to be the next Gautam Adani?
1. Cashflow is essential
The most common and predictable most people make with their businesses is following market trends. While it is, in fact, essential to offer what the market expects, this is should not be your step one.
Look at your cost. One of the ways Adani is where he’s at is because of ruthless cost-cutting. The market is something you can’t control. But the cost is in your hands. Cost optimization is the oldest trick in the book and still holds as much value. Your profits will be directly affected by informed budgeting and strategic spending decisions, so pool all your focus on cost initially.
2. Don’t go public too soon
The biggest challenge with going public is that the owners tend to lose control of the corporation, and the business is subject to market turbulence. A graver mistake is to go public when you are not profitable. First aim is to be profitable in a private capacity. This will keep your costs down and keep investors happy. Pre-IPO is always less risky and gives everyone a chance to cash out before it’s time to go public.
3. Build strong relationships
Just like no entrepreneur has been able to build massive businesses without collecting debt, it’s also impossible to succeed in a larger capacity without seeking help. You must have heard multiple times that “your network is your net-worth”. At every point of your business, you will need either expert advice or people who can connect you to other experts. If you burn any bridges today, it will come back to haunt you, maybe not immediately, but eventually. Say, you meet with someone with a proposition, and somehow, it doesn’t work out between you two. Make sure that irrespective of what happened, you do your bit and reach out to that person and end things on good terms only.
Love him or hate him, Gautam Adani is putting our country on the map once again. These golden rules are the fundamentals you must follow to make it BIG. You never truly realize your potential until you keep believing and keep trying.
Find many more nuggets of wisdom in the episode of Figuring Out here.
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