KEY LESSONS FROM BILL GATES ABOUT MONEY

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These 5 Things About Bill Gates Are Hard to Believe, but Actually Make  Total Sense | Inc.com

Who is Bill Gates? Who doesn’t know…?

The name Bill Gates is a very popular name; the richest man in the world. He was born in Seattle, Washington, on October 28, 1955. An American businessperson, software developer, and philanthropist. He is one of the best-known entrepreneurs and pioneers of the microcomputer revolution of the 70s and 80s. Together with his childhood friend, Paul Allen, he co-founded Microsoft which ended up later as the largest personal computer software company.

Since 1987, he got included in the Forbes list of the world’s wealthiest people from 1995 to 201. In October 2017, he was surpassed by Amazon founder and CEO Jeff Bezos who had an estimated net worth of US$90.6 billion compared to Gates’ net worth of US$89.9 billion at the time.

Bill Gates life is interesting and fully packed with many lessons for young adults who desire to be rich. Let’s take a look at a few money lessons from the life of Bill Gates.

People are Money

In a Netflix series interview, Bill Gates is asked the question; “What was the worst day of your life?” Gates a very composed and reserved man who seems at ease answering all sorts of questions, takes this one a little different. He squints, looks down and appears to be thinking, but not really. Then he hesitantly speaks; “The day my mother died.”  

One would have expected that Brainy Bills would pick a more “money” scenario but his choice highlights a truth that has unfortunately been ignored over the years. Money flows through people; the people you meet, the people you miss, the people you love and even the people you hate. 

Money flows through people; the people you meet, the people you miss, the people you love and even the people you hate. 

People die; whether your favourite people or not favourite people. Some of them will die before you do and nothing will ever bring them back. Every one of us has limited time. But when it comes to making people’s time here count, we might have even less. Gates reminds me of the fact that people and money are two inseparable variables.

Take bold steps

Do you know that Microsoft’s big breakthrough came from Bill Gates telling a white lie? In 1975, Bill and his childhood programming buddy, Paul Allen, were looking for a way to turn their shared computer hobby into a career. So, Bill called up a computer company called MITS and told them that they had created a BASIC interpreter for their microcomputer, the Altair 8800. Of course, MITS was interested in seeing a demonstration of the software but the problem was that the software existed nowhere. Hurriedly, they developed one and luckily were able to make the sale. One month later, Microsoft was founded.

Roy Ash, co-founder of Litton Industries said: “An entrepreneur tends to bite off a little more than he can chew hoping he’ll quickly learn how to chew it.” When you push yourself to deliver more than you’re known for you’ll go further, faster in your business ventures and increase in your business is an increase in your profit. More profit, more “money”.

By the way, I’m not asking you to lie to your potential clients.

Do your Ideas; Don’t Talk too Much

There was a time in the early 8o’s when Bill Gates and Steve Ballmer travelled around the country teaching about how graphic interfaces were the operating systems of the future. Unfortunately, nobody believed them, even computer companies! They told them that graphic interfaces would be too slow and difficult to write the software for them. In fact, when Microsoft announced in 1983 that it was developing Windows, there was no enthusiasm for them.

However, in 1984 when Apple launched the Macintosh, attitudes changed. This was the first commercially successful computer with a graphical user interface (GUI). Microsoft was able to release Windows 1.0 in 1985, just a year after the Mac’s success because they had actually started developing the software two years earlier.

Own your ideas and do them whether people get it or not. Great ideas have died because people did not believe in them. Don’t be a victim of that. Whether or not people see you as crazy, it is better to start developing it now so that you’ll be prepared to launch out when the time is right and time and chance falls in place.

Tiny Drops of Water Makes a Mighty Ocean

There is nothing that was overnight

Bill Gates

Perhaps, you think that Windows 1.0 was a huge success? Let me tell you, it wasn’t, neither was Windows 2.0 too. It wasn’t until 1990, when Microsoft launched Windows 3.0, that they made a significant success. This success was a big moneymaker for the company and it sold over 10 million units in just two years. Now, you don’t need me to tell you how much breakthrough Microsoft has had and how much money it has fetched Bill.

Nothing comes overnight. Don’t give up on your ideas. When you start and do not get the first outcome you have expected, put in effort into identifying and solving the problem until you eventually breakthrough. Forget all the get-rich-quick schemes and phoney investing advice you hear. It takes continuous tiny drops of water to form a mighty ocean. Focus on hard work and long-haul investing. 

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