About Bill Gates

The author, philanthropist and investor Bill Gates, co-founder of Microsoft Corporation. It is also one of the world's wealthiest people. His parents William Gates and Mary Maxwell Gates were born and raised in the U.S., Washington. In 1973, Bill Gates entered Harvard University for a degree. He revealed himself to be interested in computers at Harvard. Gates and the university colleague Paul Allen turned their attention away from computers (Bill Gates, 2017). They also spent a great deal of time writing and developing program concepts. Their passion for programming magnified every day despite challenges from the institution that ignored their talent by allowing them minimal time to work with the computers. Thus, it is the passion for computer programming that influenced Gates to start his business in producing a computer program, Microsoft operating systems.

From Gates experience, following ones passion is what new entrepreneurs need to consider when starting a business. A new entrepreneur needs to be positive and consistent in what they need in life. He or she should venture in what they believe to be good in and start 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 start his business (Bill Gates, 2017). In addition, Gates advices new entrepreneurs never to give up on their dreams. If he had given up because of poor attention given to his talent, Gates would not have been one of the prominent businessmen today. According to Gates, an entrepreneur should focus on what they love irrespective of circumstances to realize his or her dreams.

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Gates experienced a major failure in his business within a year of establishing Microsoft Company. His company suffered a great financial crisis because of using pirated software causing him huge financial losses. Despite the challenges, he never gave up; he continued pursuing his goal amidst oppositions 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 companies accuse Microsoft of not only acquiring every market it enters, but also employing aggressive business tactics. According to Gates, an entrepreneur should focus on the future and not the immediate challenges. One should always stay ahead of trends to be successful.

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. In addition, he did not spend any of 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.

Gates relied on external source of income to start his business. While studying at Harvard University, Gates and Allen provided programming services to Computer Center Corporation. He raised approximately $20,000 and $10,000 from Computer Center Corporation and Bonneville Dam respectively to start his business. Similarly, he made more money for his company by selling small software products to different firms (Bakshi, 2016). Based on this, Gates believes that an entrepreneur starts small and eventually grows. A good entrepreneur should start by selling what they have to others to generate capital to establish a business.

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Bill Gates started his Microsoft Company with money he earned from the products he sold to different firms. The company is associated with the production and selling of operating systems for computers, devices keying data to the computers 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 have in order to run.

Microsoft 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. Gates also build a strong customer base by developing products people need and solving a problem in the market. He ensured the Microsoft windows was functional, usable, effective, and meet customer needs well and with effective customer service and warranty, he ensured customers were happy 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 in one business enabled Microsoft to establish a foundation that influences its success today.

Gates attributes his success to passion. He loved computers from childhood and ventured in a business relating directly with his passion. His desire to know more about computers influenced his production of a program that defines his business. Bill Gates is the richest person in the globe. He derived his richness from his business. His business has been prominent since 1970s and there is high likelihood it will remain productive in future since it’s constantly evolving to ensure all the customers are satisfied. Gates also distributes leadership to other employees, a factor that will facilitate the success of Microsoft Company in the future.

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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