“Great achievers are driven, not so much by the pursuit of success, but by the fear of failure.”
– Larry Ellison
I think we all are aware of the existence of Oracle- an American multinational computer technology corporation with hundreds of branches spread across the world. It is one of the world’s most successful tech companies, making its founder-Larry Ellison, one of the most revered personalities in the field of technology.
Born in New York City in August 1944, the 75-year-old is a college-dropout-turned-billionaire who is believed to have inspired the character of Tony Stark in Marvel movies, played by Robert Downey Jr.
Considered the “flamboyant billionaire,” Ellison had a keen interest in building new computer design systems and moved to California from Chicago to materialize his vision. Later in his life, he established Oracle and has an impressive real estate portfolio. According to Forbes, Larry has a net worth of 12,480 crores USD making him one of the richest entrepreneurs on the planet.
Despite acquiring massive success in the technology field, Larry’s journey to success hasn’t been the easiest. Between 1985 and 1990, Oracle was on the brink of bankruptcy, overtaken by emerging tech brands.
So, how did Oracle manage to overcome this brief period of loss? What methods did Larry use to salvage this colossal mistake?
Don’t worry! We have all the answers that you are seeking.
Table of Contents
4-important principles that Larry used to drive Oracle to success
Test your limits
When running a business, you have to churn out consistent results. The moment you slack off, your opponent is ready to snatch that first place. Larry insisted on achieving that top position and staying there for as long as one can. He ensured that Oracle is the world’s biggest and most successful database software provider. They did so by coming up with new ideas and constantly reinventing themselves.
Make your own rules
A king never abides by someone else’s rules. Only a pawn does that. Larry understood that the journey to success is only viable when you play by your own set of rules. Larry Ellison encouraged his subordinates to break the rules, look beyond the stereotypical norms and create their destiny.
Retirement is not an option
If you look at successful business persons like Bill Gates, Larry Ellison, and even Jeff Bezos, you will realize that they never speak about retiring. Even at the senile age of 76, Larry acts as the executive chairman of Oracle. That’s the type of dedication we often read in texts or give speeches about. Larry’s love for his company stands strong even in 2021. As a result, his financial assets keep on increasing.
Hire the best employees
A subpar leader chooses candidates with the best credentials, whereas, a wise leader chooses a team with the best chemistry. In the current economy, hiring qualified staff is very important. So employers need to hire staff that fit the company’s vision best. A candidate belonging to Ivy League colleges may not be suitable for the job, whereas a candidate with minimum education may drive the most profit to the organization. Ultimately, it all boils down to the leader’s decision.
Conclusion
“When you live your life in different ways, it makes people around you become uncomfortable. So deal with it. They don’t know what you are going to do.”
— Larry Ellison
“Ellison has a passion for winning. Whatever challenge life may bring before him, he is determined to navigate it with a smirk on his face. The man is ruthless when it comes to business. He had once said that he considers Genghis Khan as his inspiration, which is evident in every move he makes. He squashes every opponent in the market without mercy, making him a fearsome business tyrant”- concludes India’s favorite Astro Strategist™ Hirav Shah.
Feature Image Credit
Ilan Costica, CC BY-SA 3.0, via Wikimedia Commons
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