Michael Dell's Advice to Entrepreneurs

Dell stock hit a three-year low last month what did Michael Dell do he spent more than $70 million of his own money buying almost 3 million shares the stock Rose and Dell made more than $2 million on paper you don't go from 22 years ago starting in a dorm room to a $56 billion company without uh you know some challenges along the way but I think I would trade our position for any company in our industry I think our is quite strong will continue to grow Dell's turnaround strategy includes cutting prices on computers okay what

is your name sir and spending Millions to improve customer service it also ended an exclusive partnership with Intel and for the first time will use AMD chips in select servers some customers believe AMD delivers a higher quality more powerful product these are not the only changes our laser printer product line particularly is going to go through a massive expansion over the course of this summer summer Dell plans to display such products and others in two giant retail stores opening in Texas and New York this year like its roughly 160 smaller kiosks customers will be able

to touch gadgets but cannot physically leave with them rather orders take place online or over the phone aell spokesman says the larger stores will allow customers to view its entire line of products rather than just a sample Dell isn't banking on instore purchases to refuel its growth but it is possibly banking on International opportunities 96% of the people that we want to sell our products to don't live in America so you know we want to sell our products to everyone you know we're going to continue to grow I think the company will will has enormous

opportunities you know we're in a$ 1.4 trillion dollar market uh we have the leading position in our industry with his company on top but fiercely fending off the competition what advice does Dell offer to those looking to succeed and follow in his footsteps be willing to experiment and fail you know you know a lot of people go into business and they're they're looking to never make any mistakes that's not the way to succeed you have to be willing to try things experiment ask a lot of questions don't be stuck on any one position and uh

you know most importantly to to to listen and look for breakthroughs and you know ideas that haven't been haven't been out there