Mukesh Ambani, chairman of Reliance Industries, recently shared a powerful message for aspiring entrepreneurs: “If you want to start a business to be a billionaire, you are an idiot.” Instead, he emphasized the importance of building businesses that aim to impact a billion people, with wealth as a byproduct rather than the primary goal. This philosophy, inherited from his father and Reliance founder Dhirubhai Ambani, has been the guiding principle behind Reliance’s remarkable journey and success.
The Legacy of Dhirubhai Ambani: Vision Beyond Wealth
Dhirubhai Ambani’s vision was clear from the start — business success comes from fulfilling the needs of the people, not merely chasing profits. Mukesh Ambani explained how his father believed that focusing on societal impact creates a better chance of success. The idea is to build businesses that improve the lives of millions or even billions of people. Wealth, in this context, follows naturally but is never the sole objective.
Reliance’s North Star: Impact-Led Business Strategy
Mukesh Ambani described Reliance’s approach as “impact-led”, meaning every business decision and strategy is aligned with creating large-scale societal benefits. This vision has remained constant even as Reliance has continuously reinvented its business model every few years to adapt to changing markets and technologies.
Talent and Clarity: The Pillars of Innovation
Ambani stressed the importance of having clear goals and acquiring the right talent to drive innovation and achieve impact. At Reliance, the process starts with identifying where to get the right people to fulfill the vision and then empowering them to innovate and execute effectively.
Taking Calculated Risks: The Jio Story
One of the most illustrative examples of Ambani’s philosophy in action is the launch of Reliance Jio in 2016. This telecom venture was described by Ambani as the biggest risk Reliance has ever taken, involving a $25 billion investment of his own money. Despite skepticism about India’s readiness for advanced digital technology, Ambani was confident that digitizing India would transform the country and be worth the risk even if the financial returns were limited.
Surviving the Worst-Case Scenario
Ambani’s risk management principle is to think through the worst-case scenario and ensure the business can survive it. Only after this assessment does he proceed with bold moves. This mindset helped Reliance Jio disrupt the telecom sector, making India the world’s largest mobile broadband consumer and drastically reducing data costs, benefiting millions across urban and rural India.
Lessons for Indian Entrepreneurs: Focus on Impact, Not Just Money
Mukesh Ambani’s message resonates strongly in the Indian entrepreneurial ecosystem:
Start with a vision to serve and impact people at scale. Success will follow when the business solves real problems for a large population.
Do not get distracted by obstacles; focus on your goals. Ambani believes that focusing on hurdles leads to failure, but focusing on the vision helps overcome challenges.
Build a strong institutional culture based on integrity and accountability. Ambani emphasizes sincerity and transparency, encouraging leaders to “look employees in the eye” as a symbol of trust and responsibility.
Reinvent your business strategy regularly to stay relevant while keeping your core mission intact.
Conclusion: Building Businesses for India’s Future
Mukesh Ambani’s leadership philosophy offers a blueprint for Indian entrepreneurs aiming to build sustainable and impactful enterprises. His father’s legacy of creating value for society remains the “North Star” guiding Reliance’s journey. By focusing on impact rather than just wealth, embracing innovation, managing risks prudently, and nurturing the right talent, Ambani has demonstrated how businesses can thrive while contributing to India’s prosperity and transformation.
This approach is not only relevant for large conglomerates but also serves as an inspiring lesson for startups and emerging businesses across India, encouraging them to dream big — not just in terms of money but in terms of meaningful impact on society.