Are you considering improving your entrepreneurship or life skills? Of course you do! Here are some tips from none other than the world’s most respected businessman and philanthropist – Mr. Bill Henry Gates.
Bill Gates is best remembered as the former college guy who sacrificed everything to see his small startup idea blossom into the world renowned Microsoft. Today, Microsoft is the largest IT company in the world and chances are that you are reading this article on a computer or phone system that has been made by this great company. Mr. Gates is currently the second wealthiest individual in the world with a net-worth of Sh7.9 Trillion.
You would certainly love to know what the world’s most successful entrepreneur has to say about making decisions, running a business, investing and more.
Lessons 1: On personal growth
While it is good to celebrate success, Bill cautions people not to allow themselves to get caught up in their success. Do not think that just because you have landed your dream job that you can relax and stay at the top. Do not think that just because things are going well now that you can take a back seat as you enjoy the ride to the top. Be wary of an enemy called “average”, don’t get stuck in a comfort zone.
Listen to what Bill has to say:
“Be wary of success. Success is a lousy teacher. It seduces smart people into thinking they can’t lose”
Lesson 2: On starting a business and making sales
People don’t buy a product because it has got a great logo or a low price. They buy because they have got a problem and they are convinced that the product will solve it. In other words, the most difficult part of running a business isn’t opening up a big shop in the streets. It is providing a great solution to an actual problem…and that’s what Microsoft does with each and every piece of technology they launch. If you can think of coming up with a business that solves an existing societal problem, then the job of growing it will be relatively simple.
And Bill Gates sums it up very well:
“If you show people the problems and you show them the solutions, they will be moved to act.”
Lesson 3: On making decisions
There’s no need to make the same decision twice. So before you actually make a decision, be sure to take a broader look at it. You don’t want to be wasting time going back and forth retracting some of your original decisions. Be decisive – and once you make a decision be ready to be bound by the consequences of its outcomes. According to bill, If you’re not firmly decisive, it interferes with your execution and capacity to grow.
And in his own words, Bill says:
“Going back and forth on decisions you’ve made not only interferes with your execution, but also your motivation to believe in your intuition in the first place.”
Lesson 4: On mistakes and failure
While Gates remains one of the most successful entrepreneurs on the globe, he has made his fair share of mistakes in the recent past. Interestingly, he believes those mistakes were vital to making him the successful man he is today.
In his own words, the guru says:
“It is fine to celebrate success, but it is even more important to heed the lessons of failure”.
In other words, if you make a mistake, don’t dwell on it, learn from it but keep your eyes on the prize.
Lesson 5:On handling customers
Over the years, Bill has made many of his customers unhappy. Anyone who has seen their laptop crash understands this. But as much as people love to complain about Ms Windows, they continue to use it. Since 1990, Microsoft Windows has been the world’s primary operating system and today 82.5% of computer users in the world use it.
The reason is plain simple: Microsoft continues to act on customer feedback to improve their products…and the attitude starts with Bill Gates himself who was once quoted saying:
“Your most unhappy customers are your greatest source of learning.”
Entrepreneurial Learning
Bill Gates’ career has been highlighted by his incredible vision. Microsoft remains a top company in the world largely because they always look one step ahead, to the next revolutionary idea. And herein lies the most precious lesson that we can borrow as entrepreneurs – if you want to get ahead in business, think ahead.
