Michael Dell ON: Dreaming Bigger Than Your Goals & How to Play Nice But Win | Summary and Q&A

Summary

In this video, Jay Shetty interviews Michael Dell, the chairman and CEO of Dell Technologies, about his journey from founder to leader. They discuss various topics, including risk-taking, early jobs, dropping out of college, work-life balance, and building a great company. Michael shares insights and advice based on his own experiences, and provides valuable lessons for aspiring entrepreneurs and leaders.

Questions & Answers

Q: What was Michael Dell's first job and what did he learn from it?

Michael Dell's first job was as a dishwasher in a Chinese restaurant when he was 12 years old. He quickly moved up to become a waterboy and then assistant mater d'. From a young age, he learned the value of hard work and the importance of taking on new responsibilities. He also used his earnings to pursue his passions, like collecting stamps and investing in stocks and currencies.

Q: Did Michael Dell ever consider finishing his degree and how would his life have been different if he had?

Michael Dell did not consider finishing his degree after dropping out of college. He believes that if he had graduated, his life might have taken a different path, possibly becoming a doctor as his parents wanted. However, he doesn't have any regrets about his decision to drop out and pursue his entrepreneurial ambitions. He saw an opportunity in the emerging PC market and took the risk to start his own business.

Q: Did anyone challenge Michael Dell's belief in playing nice but winning in business?

Michael Dell's philosophy of playing nice but winning has always been ingrained in him since childhood. While he has encountered people and situations that may have advocated for a more ruthless approach, he has always maintained his belief that you can achieve success without compromising your values. He believes that maintaining ethical standards and treating people with fairness ultimately leads to long-term success.

Q: What is the biggest risk Michael Dell has taken in his career?

From an outsider's perspective, people might say that some of the biggest risks Michael Dell has taken include dropping out of college, taking the company private, and doing a large tech acquisition with significant debt. However, he personally didn't see those as risky moves because he believed in the opportunities and had confidence in his ability to navigate through them. He always carefully evaluated the risks and believed in the potential for success.

Q: Has Michael Dell experienced failure and how has he learned from it?

Michael Dell acknowledges that failures are an inherent part of success. Throughout his career, there have been failures and challenges, but he sees them as opportunities for learning and growth. Failures have led to valuable lessons and have often paved the way for new innovations and improvements. He emphasizes the importance of quickly learning from failures, correcting mistakes, and constantly reimagining and innovating.

Q: What is the significance of the title of Michael Dell's book, "Play Nice But Win"?

The title of Michael Dell's book, "Play Nice But Win: A CEO's Journey from Founder to Leader," reflects a philosophy instilled in him since childhood. His parents taught him the idea of playing fair and treating others with respect while also striving for success. It encapsulates the balance between being ethical and determined to succeed. It represents a guiding principle that has shaped his leadership journey and the culture of his company.

Q: How does the entrepreneur mindset differ from the employee mindset?

Michael Dell believes that the entrepreneurial mindset is characterized by a willingness to take risks and a sense of personal responsibility. Entrepreneurs are often willing to work long hours, wear multiple hats, and make sacrifices to bring their vision to life. On the other hand, employees may have a more structured approach to work and may seek stability and security. Ultimately, whether one chooses to be an entrepreneur or an employee depends on their risk appetite and personal goals.

Q: How did Michael Dell find a balance between his professional and personal life?

Michael Dell acknowledges that achieving work-life balance is challenging, especially when starting a business. In the early stages, he focused heavily on work and put in long hours. However, as his company grew and became more established, he deliberately made time for his family and personal life. He created boundaries, such as not working on weekends, and made efforts to spend quality time with his family. He believes in the importance of relaxation, exercise, and getting sufficient sleep to maintain a balanced and fulfilling life.

Q: What are three key ingredients to creating a great company and a great place to work?

According to Michael Dell, three key ingredients to building a great company and work culture are an inspiring mission, opportunities for personal growth and success, and fostering inclusivity. An inspiring mission helps employees feel passionate and motivated about their work. Providing opportunities for growth and success creates a sense of fulfillment and ensures that employees can reach their full potential. Fostering inclusivity allows for diverse voices and ideas, leading to stronger teams and a more innovative work environment.

Q: What are Michael Dell's thoughts on the concept of balance in life and work?

Michael Dell agrees that achieving perfect balance in life and work is a myth, especially when starting and running a business. He believes that work-life balance is not realistic, particularly in the early stages of building a company. However, as the business matures and processes are established, there is a diminishing return to working long hours. It becomes important to find a sweet spot where one can make a meaningful impact without sacrificing personal well-being. He also emphasizes the importance of relaxation, play, and taking breaks to maintain a healthy work-life integration.

Q: If Michael Dell could create one law that everyone in the world had to follow, what would it be?

Michael Dell believes that everyone should be grateful for what they have and take responsibility for their own lives. Being grateful helps cultivate a positive mindset and appreciation for one's blessings. Taking responsibility empowers individuals to take control of their destiny and not blame others for their circumstances. By embodying gratitude and self-determination, individuals can create a better world and achieve personal happiness and success.

Takeaways

Michael Dell shares valuable insights from his journey as a founder and leader. He highlights the importance of taking calculated risks, learning from failures, and maintaining ethical values in business. He emphasizes the need for an inspiring mission, opportunities for personal growth, and fostering inclusivity in building a great company. Michael also encourages individuals to find their own balance between work and personal life, create boundaries, and prioritize self-care. Ultimately, he believes that being grateful and taking responsibility are keys to personal and professional fulfillment.