10 Aggressive Decisions that Helped Indian Entrepreneurs Succeed
9. Lakshmi Mittal: Whatever He Touches Becomes Steel
Mittal is a perfect example of rags-to-riches story. His father used to work for several mills and later was hired by a Calcutta-based firm to manage their business. Meanwhile, Lakshmi started doing his college and also helped his father in business. After graduating he joined his father’s company full-time.
Most Decisive Moment: Both enjoyed the success they got, but became discouraged with the way Indian Government controlled the private investments in large steel projects. So, the father and son duo decided to leave India and begin a steel company outside India. In 1976, with $15 million investment money they gambled and bought an obsolete steel company in Indonesia. Surprisingly this trade paid them off and they never looked back from that point, buying up steel mills that were operating at a loss, and turning them into profitable enterprises. This earned Lakshmi Mittal the title “Turnaround Specialist”.
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