From Elon Musk to Mark Zuckerberg, Jack Ma, Bill Gates they are the most successful people in the world. The most successful people we hear of today have had their struggles. Whether dealing with their poverty, broken home, or maybe failed businesses. These people have proven “IMPOSSIBLE IS NOTHING”. There are some successful people in the world maybe you didn’t hear about them. If you want to motivate yourself importantly read this article to get knowledge about a glorious success story of a fashion entrepreneur. He is The Billionaire AMANCIO ORTEGA the richest man from Spain.
How It Began For Billionaire Amancio Ortega
Amancio Ortega was born on March 28th, 1936. Amancio Ortega was the youngest four of children. He was born during the civil war in a small village from pain. His village name was Busdong De Arba. This village had less than one hundred citizens and was located in the northern Spanish region. His family was extremely poor. The family was living to depend on his father’s job at ta the local railway station. They lived in a railway quarter. And to survive that situation, his mother had to work as a housemaid. Little Amancio saw his mother plead for credit at the local store many times because they were unable to afford essential foods and items.
Things got so hard that he dropped out of school and started working when he was fourteen. This is very tough luck for a 14-year-old boy. His first job was as an assistant and deliver products. From that company, he learned how to make clothes. apart from working hard as a teenager, Amanio had a passion to roam around the town with his bicycle. His brain has generated astonishing business plans while he was roaming with his bicycle. He understands early that to earn a big amount of money one must give the customer fully satisfied services. By his 16 Amancio was already planning to discover the desire of targeted customers. Most importantly, he was researching how to meet the customer’s demand.
First Step To Success
A perfect opportunity presented itself in the 1950s. However, Amancio created an opportunity to experiment with his idea in Galicia. He started a co-operative for a poor community. He gave jobs to poor women from the community. Amancio was producing products including babywear, nightgown, and lingerie. There is two most important business essence. Firstly, wealth is created by solving human needs. Secondly, the employee gives their best when they treated right.
In 1963, after gaining about 10 years of experience in managing several co-operatives. Amancio founded a company named CONFESIONES GAO. With the help of local successful serving co-operatives, he was able to offer fast production clothing. Importantly, Amancio Ortega introduced the business to his family. In that era, he was working to bring new fashion to his customers. However, His brother Antonio Ortega was appointed to work on commercial issues. And his sister Josefa Ortega was working on bookkeeping. Rosalia Mera, who later become his wife in 1966 and also the silent owner of the company.
Zara – Dream Project Of Billionaire Amancio Ortega
When Billionaire Amancio Ortega established some factories in Spain, Amancio opened a store brand in A CORUNA in 1975. The store was named Zobra. This name was influenced by a movie named “Zobra Le Grec”. It was his first wife’s favorite movie. After some time he changed his company name to the popular Zara today. Within the next fifteen years, he opened lots of Zara outlets in some cities in Spain. In 1998, Ortega opened a Zara outlet in Portugal. Apparently, he found the production cost in Portugal was the cheapest. But in Spain, he was spending more to run his outlets.
In 1999, the store expanded in America. And the Zara was also frequently expanding London. In the 1990s the brand pushed for international expansion. Massimo Dutti and pull & Bear in 1991, Stradivarius in 1994, Bershkha in 1998, and Oysho in 2000 founded by Amancio Ortega. Inditex expands their shop in more than twenty-five countries before 2020.
His core business principle is involved giving the customer what they wanted and as fast as possible. Furthermore, the brand refreshes its garments stock twice a week. For example, Zara was famous for its fourteen thousand unique designs to develop annually. Going by his rule, new orders are to be received within a forty-eight-hour time period.
Other Business Of Billionaire Amancio Ortega
Amancio’s wealth is not derived only from his fashion brands. Billionaire Amancio Ortega’s business portfolio includes massive investments in real estate worldwide, gas, tourism, and banks.
Charity Of Billionaire Amancio Ortega
Billionaire Amancio Ortega and his wife (Rosalia Mera) together founded a foundation called Paideia foundation. It was founded in 1986. This successful foundation had received a lot of awards because of its amazing works since its reception. He has another nonprofit organization called Fundacion Amancio Ortega.
According to Forbes, Amancio Ortega is worth almost 77 billion dollars and he is the eleventh richest person on earth.
Four Important Lessons To Learn From Amancio Ortega
- Speed Is Everything
Amancio was strict about maintaining deadlines and time. He doesn’t like wasting time on stupid things. He once said that traveling a longer route to avoid a traffic jam is a professional decision. It doesn’t matter how much fuel his car consumes. More importantly, you cannot waste your time in a spot. Because we are living in a fastest growing world. People want things right now. However, if you can’t provide fast service to your customer, your competitors will knock you out of the business. For example – Zara refreshes their stocks twice a week.
- Be Obsessed Over What Your Customer Want
Without potential customers, your company would not survive in the top place. Consequently, you should know your customer’s tastes. Royal Inditex customers know the best day to pick the items from the new collection. For example- Each employee of Zara is trying to keep an eye on selling trends, client requests, and style. This is why the Inditex corporation has become a global fast-fashion retailer.
- Never Stop Innovating
If you or your employee are not innovating new for your customers. There is the quote for you ” FAILING TO INNOVATE IS LIKE DIGGING IN EARLY GRAVE”. Because without innovation sooner or later your business will die
- Build A Solid Team
Zara factories look like a machine. Hundreds of solid amazing designers and analysts work together on the same floor. The designer creates four models a day. Moreover, without a solid team, your brand or company will not survive in 2021.Just in case if you want to know about Writing Style Cloning.