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Dell stock hit a three-year low last month. What did Michael Dell do? He spent more than $17,000,000 of his own money buying almost 3,000,000 shares. The stock rose and Dell made more than $2,000,000 on paper.
And you don't go from 22 years ago starting with, in a dorm room to a 56-billion-dollar company without, eh, you know, some challenges along the way. But I think I wouldn't trade our position for any company in our industry. I think our company is quite strong and we 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.
Their laser printer product line, particularly, is gonna go through a massive expansion over the course of the summer.
Dell plans to displace 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 can not physically leave with them, rather orders take place online or over the phone.
A Dell spokesman says the larger stores will allow customers to view its entire line of products rather than just to sample. Dell isn't banking on in-store purchases to refuel its growth, but it is possibly banking on international opportunities.
96% of people that we wanna sell our products to don't live in America , so, you know, we wanna sell our products to everyone. You know, we're gonna continue to grow, I think the company will, will, eh, has enormous opportunities, you know, we're in a 1. 4-trillion-dollar market. Ah, we have the leading position in our industry.
With this 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 that. . hehe~you know a lot of people going to business, and they are, they are 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 ah, you know, most importantly to, to, to listen and look for breakthroughs and, you know, ideas that, that haven't been, haven't been out there.
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