From humble beginnings to setting up a software empire, his empire has changed the world as we know it and made him worth $89 billion when he stepped down as CEO.
One of the most popular entrepreneurs of all time, Bill Gates is better known as the prodigy who started the technology revolution by launching a software company after dropping out of Harvard in 1974.
His success at Microsoft has earned him the title of one of the richest men in the world. We’ve put together a few of his leadership lessons that we believe can help your business grow
#1 Do not get distracted by success
Bill Gates has said “Success is a lousy teacher. It seduces smart people into thinking they can’t lose”.
It is but human to get carried away by success, especially when it comes easily, and keeps coming. But that’s not the case with Bill Gates. He never allowed his success to cloud his business judgements. He lacks overconfidence and understands that success cannot supersede business ethics. Yes, he does attribute his initial success as the stepping stone for future triumphs, but he was always prepared for the psychological challenges that success can bring.
#1 Have a vision
Gates never let his role at Microsoft define him. He dreams big, and he dreams beyond the immediate. He kept beating competition because at every point, he kept dreaming bigger and beyond and stayed a step ahead of the rest. He has a rich philanthropic life and that also contributes to his success in his primary career. He is more involved in society at large than just as a software supplier, and that makes it easy to follow him as a leader.
#1 Doesn’t hurt to rate yourself a little higher
Did you know that the contract that established Microsoft was proposed in the air? When Bill told Micro Instrumentation and Telemetry Systems (MITS) that he could develop an interpreter for microcomputers, he was overrating himself; he had never done that before. But he was ready to go the extra mile to get it done. Gates and his partner, Allen, worked hard to get the interpreter ready within a few weeks after MITS expressed its interest in their proposal. The result of that effort today is Microsoft.
#1 Be ready to embrace failure
You’ve started your business to be successful, but entrepreneurship comes with its set of challenges. Too much success, for too long, can make anyone complacent and even arrogant about their abilities. Remember that no one is invincible and you should always be prepared for rough patches. Don’t let those bog you down. Instead, get back up, dust yourself and learn from them.
#1 Value time
Gates has said, “no matter how much money you have, you can’t buy more time”. He values every minute of his day and plans his daily activities to ensure the most important tasks never get left undone. He will not attend meetings that don’t really need him. He is immensely successful today, but he knows that he has the same number of hours as everyone else, and has still retained the same value for time as before.
#1 Do your own thing, and be good at it
Every one of us starts with inspiration; some of us even continue to be inspired throughout our careers. However, remember that there is a thin but distinct line between being inspired and trying to replicate what someone else has done. Find your own brand voice and identity to ensure that you stand out among competition.
Gates joined a computer club at 13 and he realised he’d found his calling. He spent hours teaching himself how to program, and with his dedication and foresight turned his passion into a billion-dollar business, something that not many people had believed was possible at that time.
#1 Stop feeling sorry for yourself
“Life is not fair; get used to it.”, Bill Gates. Let’s face it; things are not always going to go your way. And not everything is in your control. You might make a mistake, or the industry might suffer a slowdown. There are very few companies that have grown without facing their share of serious problems. What matters is how you respond to this crisis. Use the negative situation as a learning curve and look for ways to control damage. Perhaps your business can adapt to the situation and come out of it better and stronger.
#1 Care for other people
Bill Gates’ leadership role is not limited to his success alone or that of his team members, but he works hard to ensure that others grow too. His leadership comes through very strongly in his philanthropy and humanitarianism efforts. To sustain his goals, he, along with Melinda Gates, founded the Bill and Melinda Gates Foundation, an organization focused on saving lives and improving global health. He believes that his life’s accomplishments would mean less if his energy and talent cannot be used to improve other lives and society at large.
You might have noticed that all the leadership lessons are marked #1. (Did you just go back to check?) That’s because we believe every single one of these points is a valuable instruction and neither one can be rated better than any other. What do you make of these? Do write to us and tell us which one resonated with you the most.