Elated at Jio’s 100 Million Customer Base, Mukesh Ambani Reveals the Factors Important for Business Growth

Reliance Jio’s unprecedented success has led to the brand creating a large-scale impact on the Indian digital sector. Chairman of Reliance Industries Limited (RIL), Mukesh Ambani has been overwhelmed by the response that the telecom subsidiary has garnered within a few months of its commercial launch.

Mukesh Ambani’s views on Jio’s growing customer base

At the Nasscom Leadership Forum, 2017, Mukesh Ambani expressed his amazement at Jio’s rapid growth in terms of its subscriber base, which has now crossed the 100 million mark. He stated that the company’s target was to acquire close to 100 million customers within a short period. However, he added that no one imagined that the company would reach its target in only a few months.

Reliance Jio made its initial entry with a soft launch on 27th December 2015. This rollout of data services was restricted to RIL employees. Later on, these facilities were made available to customers from 5th September 2016. With regard to customer acquisition, Mukesh Ambani revealed how the Aadhar card-based e-KYC system enabled Jio to draw a massive number of customers each day, an achievement not many can boast of.

Massive increase in customers in the shortest time

Customers may subscribe to the Jio network through verification of their Aadhar card numbers, which is a quick and convenient procedure. The company had recorded over 50 million users on its network within only 83 days of its launch, wherein 6 lakh subscribers were being added to its customer base each day.

Reliance Industries Limited had mentioned Jio’s approximate number of subscribers when it announced its quarter three results, revealing a customer base of 72.4 million as of December 31st, 2016.

Mukesh Ambani’s ideas on making a business succeed

At the Nasscom Forum, Mukesh Ambani stated that in order to succeed as an entrepreneur, it is important to handle the investors’ money more carefully than one’s own. He also added that having the right team is crucial to the success of any business. Mukesh Ambani personally considers these two aspects to be the key factors responsible for driving an enterprise. At the forum, he shed light on his entrepreneurial journey and the factors that contributed to his success. He also made a reference to the first lesson in entrepreneurship that he learnt from his father. According to him, an entrepreneur must first find the problems that he is passionate about and only then proceed with solving the same. Besides, in his view, solutions to problems should have a positive impact on the masses and their resulting financial returns should only be given secondary importance. This aspect, he stated, has been institutionalized at RIL.

Mukesh Ambani emphasized on learning for failures instead of being discouraged by them. He believes that an entrepreneur should be optimistic and help the team realize his own vision in order to achieve a common goal.

Summary

Mukesh Ambani spoke about Jio achieving its target of 100 million customers and the important factors responsible for a successful business at the Nasscom Forum.

Advertisements

Tags: , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: