8 Business Lessons You Can Learn from Bill Gates

Bill Gates is one of the most respected entrepreneurs of our time. Best known as the co-founder of Microsoft and one of the richest men in the world. He has inspired many entrepreneurs and even Stevie Jobs relied on Bill Gates to save Apple. Since leaving Microsoft he has dedicated billions of dollars in philanthropy with what some call controversy or conspiracy theory around his work on vaccines. He is truly a living genius in my opinion. I have been a student of his for years and with this post, I wanted to share lessons we all can learn from Mr. Gates.

Think Ahead

If you want to keep ahead of your competition, regardless of what field you are working in, you need to keep preparing for and predicting the future. Bill Gates is renowned for his futuristic vision, and Microsoft always kept one step ahead of any of their nearest competition. This even continues with his philanthropy work.

Value Time

Time truly is one of the most important resources we have in our lives. Bill Gates stated that regardless of the money you have, it is impossible to buy back time. Don’t waste your working hours away, and think wisely about how you are spending every hour of your day.

Innovate Fast

In our ever-changing world, it’s essential to keep up with the constant updates and changes to technology. In a world that is full of new start-ups, you need to always move faster than your competitors. This is how Bill Gates thrived in the business world. He always focused on continuous innovation, which is apparent with Microsoft. Bill Gates stated that it’s often a cultural issue, not just a technical one. You need everyone within your company to be on board with moving as fast as they can within their job role.

Take Risks

Bill Gates always recommended that aspiring entrepreneurs should think outside the box and always try to take a new path. By tapping into new business areas, success is available in any field. When Microsoft first came into our world, no one knew about computer software. By taking a big risk, this is when you have the chance to win big.

Learn From Failures

Mistakes can act as a lesson to all of us, and Bill Gates is a big believer in this. Instead of sitting around upset about an error, learn from your mistakes and move on. Bill Gates famously said; “It’s fine to celebrate success but it is more important to heed the lessons of failure.”

Persistence

Following on from making mistakes, to succeed in business, you will need to have a lot of patience to persevere through the good and bad times. His co-founder of Microsoft, Paul Allen, always praised Bill Gates’ perseverance. He wouldn’t give up until he reached the result he was looking for.


Focus on Unhappy Customers

While it’s easy to speak to happy customers, take time to understand and listen to those disgruntled ones. Instead of trying to argue back and tell them they are wrong, know that you can learn so much from them. Take into account any feedback they are giving you, as it’s a cheap and easy way to adjust and improve your product or service for the future.

Never Give Up

If you want to succeed in business, you must never give up at the first hurdle. Failure and mistakes are a natural part of any entrepreneurial journey. Did you know that before Microsoft was launched, Bill Gates and Paul Allen started a company called Traf-O-Data? It was a big failure, causing a lot of debt for Gates. However, with persistence and perseverance, he created Microsoft, and we all know how that story went!

What other lessons can you add to this list?


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