||Like it? PLEASE +1 it! Thanks!|
Lesson #2: Grab the opportunity whenever you can
Mallya is a businessman who sees an opportunity and takes it, whether or not it is going to be profitable in the short term. He makes his decisions based on promise and potential, not on timeframes and bottom lines. Where did that lesson come from?
"I remember in 1977 when Morarji Desai was prime minister of India, he advocated prohibition for all of India, and obviously the values of all liquor companies and breweries collapsed," Mallya recalls. "My father actually went out and acquired these companies at pretty cheap values, which propelled UB into being a significant player in the industry. So he bucked the trend and had the guts and the foresight to buck the trend.
"I remember having asked him why he was doing it, and he said government revenue depends too much upon this industry, particularly at the state level, and we are very large contributors. So prohibition has never succeeded anywhere in the world, not even in the United States. It's not going to succeed in India, and so I'm going to decide to grab the opportunity when I can."
Because of his father's example, Mallya is relatively fearless when it comes to following his gut instinct, even when it flies in the face of common sense. For instance, after acquiring Aid Deccan, India's largest low-cost carrier, Kingfisher Airlines became the country's largest airline. But Mallya wanted to expand, and not in the way that everyone else was doing it.
"Going overseas is natural, there's huge growth," he says. "And while everybody else wants to emulate the established carriers of Europe and the Far East and the Middle East, I decided that the future was in non-stop ultra-long-haul travel. We're going to fly from Bangalore to San Francisco non-stop, Bangalore to New York John F. Kennedy non-stop, and of course Bombay-London is a given."
Similarly, he placed orders for the A380 aircraft despite several problems that led many of his competitors to avoid it. "I bought the A380 because I believe in the A380," he says. "I know they've had delivery problems, but that's not uncommon for any new aircraft that's so different and so revolutionary in terms of technology. So while there's a delay on one hand, I have to say the A380 to me still demands an extremely compelling, profitable proposition."
For Mallya, the promise is always in the proposition.
Related ArticlesThe Gravity of Failure
Whats In It For Them
What value do you bring to your customer's table?
Who Is Your Proud Family?
Three Marketing Lessons from Realtors
Great Ideas for Work at Home Moms
Lesson #5: “Hard times are an opportunity for growth”
Frustrated Network Marketer - Needs vs. Wants
I'm Not Interested
Entrepreneur – How Not To Have A Bad Employee?
Build It and They Willl Come?
What Does Your Gut Say?
To Infinity and Beyond! - Human Resource Latest Trends
Lesson #5: Trust Your Gut
You Coach but Do Your Salespeople Follow Through?
Why Use Feedburner for Feeds
Are You A Network Marketing Pit Bull, Lab Or Mix?
Take a Risk Like Tammy Faye- How To Do Business With Color
Selling swimming pools is the same as selling what you sell
Liven up eLearning course to engage learners with funny quiz
Home > Famous-Entrepreneurs > Vijay Mallya > Lesson 2 Grab the opportunity whenever you can > Google +
Free PDF Download
Vijay Mallya Quotes
By Vijay Mallya
Related Forum PostsDan Kennedy Marketing Methods
Re: How do you stay motivated as a startup?
Re: Student Business Plan competition huge prizes submit NOW!
Re: Buy An Established Affiliate Marketing Website
Another favorite quote
Share this article. Fund someone's dream.
Share this post and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
By: Evan Carmichael
By: Evan Carmichael
||Like this page? PLEASE +1 it!|