Updated: Jul 27, 2020
If you don’t know who Bill Gates is, you might want to reconsider your existence because hello? Do you live in this world? According to Wikipedia, “William Henry Gates III (born October 28, 1955) is an American business magnate, software developer, investor, and philanthropist. He is best known as the co-founder of Microsoft Corporation.” A very humble way to introduce the man. The better way would be, Bill Gates became the world's youngest self-made billionaire in history at age 31. There’s lots of blood, sweat and hard work that he must have gone through, failures and let downs that eventually lead him to his title today. If you’re some young, wild and broke individual looking for some inspiration, Kim Kardashian’s Instagram is not the place to start. She came from a powerful family.
Coming from a well educated and reputed family, Bill Gates had a childhood that some of us would call normal. Even to a point where he was bullied during his early years. Unlike most business men who attain titles during their late forties or early fifties, he got it fairly young. The reason behind that was the fact that he started early. At just 17, he sold his first computer program, a timetabling system, to his private high school for $4,200.
Being the kid that read encyclopedias as a kid, scored a 1590 on the SAT, and dropped out of Harvard law school to focus on his company, Bill Gates is a true example of, “Be nice to nerds, chances are you’ll end up working for one”.
If truth be told, reading up on Bill Gates and his business moves over the years, we believe that he was a natural strategist and was born to be a strategic thinker.
Business Strategies by Bill Gates: A case study
Execution and organization is among one of Gates biggest skill. While running a company he came to terms with the fact that he couldn’t personally run whole areas of a company and therefore, to move on a larger scale he went outside of the company to hire talent with different background and experience.
Thinking ahead is what creates billionaires. You need to think about where you want your product or service to be in the next two to three years or maybe up to eight years down the road. That’s how you identify your priorities and investments. You need to be able to anticipate customer needs. You need to think of tomorrow instead of today. That’s how you will make ground-breaking decisions. You will also need to consider what your competitors will try to do and find ways to counter that. Bill Gates was quick to identify this. With Microsoft, he identified that the source of value was the software and not the computer itself. And therefore he wanted control and Microsoft became the first software product company.
Taking risks is all part of running a successful business. It’s all about how calculated your risk is and how you maximize benefits and minimize losses. Bill Gates made smart bets that costed him big bucks, but were never big enough to cost him his company. Microsoft’s biggest bet was the decision to break with IBM in 1991. This was a huge decision during that time however, Microsoft already had several customers and this was a really big gamble but it didn’t kill the company and therefore they could afford the hit.
Whatever you do, make sure you’re the personal anchor to your business. To better understand this, you start a business that you think will make you good money. You hire experts. Tomorrow, if your business goes down or your workers go corrupt, you’re helpless. What Bill Gates and many other brilliant CEO’s focused on was starting something that THEY were good at. He understood coding and algorithms and software development. He was able to be a solid part of execution when it came to business decisions and strategy. Start with what you know best. If you know what you’re doing, there’s a higher chance of you excelling at it faster than something you’ve hired people to do for you.
It’s worth mentioning that the business world is constantly changing. Who knew social media platforms like Instagram and Tiktok would help people make big bucks. But it’s happening, right? If you’re smart enough you will understand that these strategies will not last forever. The fast changing business world will always require to bring new and smarter strategies that are still relevant a few years down the road and are able to attract the audience now. Look forward, Reason back, learn from the biggest decision and money makers of the world and always be willing to adapt to change. It’s time for you to move out of the world of Bill Gates and move into your humble one. We hope you don’t stay there for too long and your hustle starts from today. Cheers!