Bill Gates: A Successful Entrepreneur
Bill Gates is a co-founder, blogger, philanthropist, and investor of Microsoft Corporation. He is also ranked among the richest people in the world. He was born and raised by his parents, Mr. William Gates and Mrs. Mary Maxwell Gates, Washington, USA.
Influenced by Passion for Technology
In 1973, Bill Gates entered Harvard University to pursue a degree program. He expressed his interest in computing at Harvard. Gates and Paul Allen, a classmate he met at the university, turned their attention to computers (Bill Gates, 2017). They spent a lot of time writing and introducing program-related concepts. Their passion for programming magnified every day despite challenges from the institution that ignored their talent by allowing them minimum time to work with computers. Thus, it is the passion for technology that influenced Gates to start his business in producing Microsoft operating systems.
Following One's Passion
From Gates' experience, following one's passion is what new entrepreneurs need to consider when starting a career. A new businessman needs to be positive and consistent in what he or she needs in life. The person should venture into what they believe to be good at and begin from anywhere. Gates had no capital when he started his business. In fact, he renovated old technology and assisted other companies to raise money to lead his business (Bill Gates, 2017). In addition, the co-founder of Microsoft Corporation advises new entrepreneurs never to give up on their dreams. If he had surrendered because of poor attention given to his talent, he would not have been one of the most prominent businessmen today. According to Gates, entrepreneurs should focus on what they love irrespective of circumstances to realize their dreams.
Overcoming Challenges for Long-Term Success
Bill Gates experienced a major failure in his business within a year after establishing Microsoft Company. His corporation suffered a great material crisis because of using pirated software causing huge financial losses. Despite the challenges, Gates never gave in pursuing the personal goals amidst oppositions even from his parents (Bakshi, 2016). Gates has also received criticisms in succession from many technology companies such as Apple Computer, Opera, and Microsystems (Bakshi, 2016). These organizations accuse Microsoft of not only acquiring every market it enters but also employing aggressive business tactics. According to Gates, an entrepreneur should concentrate on the future and not the immediate challenges. One should always stay ahead of trends to be efficient.
Avoiding Distractions
Looking forward is the secret behind achieving long-term success. Gates continued working on his strategy despite accusations that his company was a monopoly in addition to numerous court cases. He did not give room for any distraction from missteps and barriers on the way. Moreover, Bill Gates did not spend his time contending with those who fought his success through baseless litigations (Rampton, 2016). Thus, a new entrepreneur should focus on the laid strategies and avoid being distracted by minor mistakes and noise from other people, including competitors.
Starting Small and Growing
Gates relied on external sources of income to start his business. While studying at Harvard University, Gates and Allen provided programming services to Computer Center Corporation. They raised approximately $20,000 and $10,000 from Computer Center Corporation and Bonneville Dam, respectively, to start their business. Similarly, Gates earned more money for his company by selling small software products to different firms (Bakshi, 2016). Based on these matters, Microsoft co-founder believes that an entrepreneur starts small and eventually grows. The good entrepreneurs should begin by selling what they have to others to generate capital to establish a business.
Microsoft's Success and Customer Loyalty
Bill Gates started his company with money he earned from the products he sold to different firms. The corporation is associated with the production and selling of operating systems for computers, devices keying data, including mouse, and the current renowned operating system "Windows" or Microsoft operating systems. The company generates billions from selling "Windows" together with other operating systems (Bakshi, 2016). Windows is an operating system that a computer must possess in order to run.
Microsoft Corporation is a monopoly company associated with the production of operating systems. It is as a result of this monopoly that Gates managed to build a successful customer base for its products. Bill Gates also built a strong consumer base by developing products people need and solving a problem in the market. He ensured the Microsoft Windows was functional, usable, effective, and met customer demands well and with effective customer service and warranty. In turn, customers were happy, satisfied, and loyal. All companies that use operating systems depend on Microsoft to produce their products and services for the consumers (Bill Gates, 2017). Thus, venturing into one business enabled Microsoft to establish a foundation that influences its success today.
Bill Gates' Success Formula
Gates attributes his effectiveness to passion. He loved computers from childhood and ventured into a business relating due to his predisposition. Gates' desire to know more about computers influenced the production of a program that defines his business. Therefore, Bill Gates is considered to be one of the richest persons globally. His business has been prominent since the 1970s, and there is a high likelihood it will remain productive in the future since it's constantly evolving to ensure all customers are satisfied. Gates also distributes leadership to other employees, a factor that will facilitate the success of Microsoft Company in the future.
References
Bakshi, P. (2016). Bill Gates and his success story. Retrieved from https://www.techuntold.com/motivational-success-story-of-bill-gates/
Bill Gates. (2017). Entrepreneur. Retrieved from https://www.entrepreneur.com/article/197526
Rampton, J. (2016). How Bill Gates became a leadership legend. Entrepreneur. Retrieved from https://www.entrepreneur.com/article/250607
