5 Business Lesson You Should Learn From Bill Gates;
1. Move Fast and Keep Innovating:
To stay competitive in saturated startup world, you should move at a faster speed and focus on continuous innovation. This is what Bill Gates did and succeeded, and wants young entrepreneurs to follow his example. Bill Gates thinks that “The most important speed issue is often not technical but cultural. It’s convincing everyone that the company’s survival depends on moving as fast as possible.”
2.Think Ahead of the Times:
In order to stay one step ahead of the competition, you need to predict the future and prepare for it in advance. Success of Bill Gates partially depends upon his futuristic vision. Due to this, Microsoft was always one-step ahead of the competition. Even when he was retiring, he was thinking ahead of his time. In hisexit interview to PC magazine , he predicted that mobile devices, internet TVs, and natural user interface will gain popularity in the years to come and history proved that he was right.
3. Your Time Is Valuable:
Bill Gates always teaches young entrepreneurs the value of time so that they refrain from whiling away their precious work hours. That is why he advises entrepreneurs to pick their battles carefully. Even the richest men in the world cannot buy time as one of his quotes suggests, “No matter how much money you have, you can’t buy more time.” This reflects how valuable time is.
4. Learn From Your Mistakes:
When it comes to failure, Bill Gates suggests that you should accept failure, learn from your mistakes, and move on instead of moaning about it and giving up. One of his famous quotes, “Its fine to celebrate success but it is more important to heed the lessons of failure.” reflects his approach regarding dealing with failures in his life.
5.Take Risks:
Young entrepreneurs should not shy away from thinking out of the box and choosing an unexplored path. According to him, success lies in unchartered territories so entrepreneurs should always be willing to explore untapped areas. His conviction and risk-taking propensity made Microsoft such a hit even when no one knew much about computer software. “If you want to win big, you sometimes have to take big risks.” The words of Bill Gates are a great source of inspiration for entrepreneurs who are willing to take risks to achieve better rewards.
