Elon musk is one of the most influential entrepreneurs of the 21st century. If he keeps succeeding at this unprecedented rate, history will know him as the man who ushered in the age of electric cars, solar paneled homes, and private space travel.
- Elon Musk was born on June 28th, 1971 in South Africa.
- Musk moved to Canada in 1988 at the age of 17 to avoid service in the South African military.
- Musk earned undergraduate degrees in business and physics from The University of Pennsylvania.
- In 1995, Musk dropped out of Stanford University to found his first company.
- Musk is a twice-divorced father of five.
- Musk’s job is the CEO of Tesla Motors, the CEO and CTO of SpaceX, and the chairman of SolarCity. His 2013 salary is over $78 million.
- Musk’s net worth was estimatedin September 2013 at $6.7 billion.
- Like Warren Buffettand Bill Gates, Elon Musk has pledged to give all of his money to charity.
Companies Started by Elon Musk
Musk is one of only two people ever to found three billion dollar companies.
14 Business & Startup Lessons from Elon Musk
#1 Think Out of this World
“[Elon Musk] is very much the person who, when someone says it’s impossible, shrugs and says, ‘I think I can do it.”
Max Levchin, PayPal Co-Founder
Elon Musk isn’t here just to make companies; he’s here to make history.
His innovations in the auto industry have him being compared to Henry Ford and Jon Favreau famously interpreted Tony Stark (a.k.a. Iron Man) on Musk. The grandiosity of his goals haven’t escaped Elon:
“There was the advent of single-celled life, multicelled life, the development of plants, then animals. On this time scale, I’d put the extension of life to another planet slightly above the transition from life in the oceans to life on land.”
Elon Musk to Inc.
That’s right. Musk just put one of the items on his to-do list on the same scale as the development of sentient life. It’s plausible. SpaceX is seriously planning to be build a greenhouse and eventually a colony on Mars.
#2 Look for Opportunities in Emerging Industries
Musk only starts companies in emerging fields
In 1998, that emerging field was the Internet. Zip2 (and later PayPal) both succeeded thanks in large part to getting in on the ground floor of Internet boom.
Next, Musk identified three more emerging industries and got in on the ground floor on all three. SpaceX (space transportation), Tesla Motors (electric cars), and SolarCity (solar power) have all benefited from the high growth potential and low-competition that comes with being a pioneer.
# 3 The Quality of the Product Comes First
“I’d say stay very focused on the quality of the product. People get really wrapped up in all sorts of esoteric notions of how to manage etc., [but] I think people should get much more focused on the product itself – how do you make the product incredibly compelling to a customer – just become maniacally focused on building it better. I think people get distracted from that.”
Elon Musk, from Rock Solid Finance pioneer new territory.
#4 Be Prepared to Pivot
To pivot in business is to change direction while keeping one foot grounded where you started.
That’s exactly what Elon Musk did when he turned X.com (online bank) into PayPal (a global payment transfer provider). The change rendered X.com totally unrecognizable, but Musk was able to use much of its resources. Those resources included an innovative method of securely transferring money online through the recipients email address, which Musk had developed himself.
The pivot was a gargantuan success: once PayPal became featured on Ebay, its use exploded.
#5 Embrace an Exit Plan
Can you imagine if Musk had stayed running PayPal? He’d still be rich and successful – but there would be no electric sports cars or rocket ships to his name. Thankfully, Musk long ago learned how to extricate himself from his own startups.
In 1995, Musk founded Zip2 (an online city guide) and in 1998 he sold it to Compaq for $307 million. Musk’s portion was $22 million. He was 28-years-old and free to do whatever he wanted.
That meant founding X.com. Again, Musk jumped ship after a couple of years, selling PayPal for to Ebay in 2002 for a cool $1.5 billion. For his trouble, Musk got $165 million in Ebay stock. Now Musk had enough personal capital to start the pair of truly extraordinary businesses that he still runs today.
When you start a business, you should have an end in mind. Michael Dunlop recently wrote about how to make your website your millionaire exit plan.
#6 Invest Earnings into New Businesses
Both times Musk cashed in a company for millions of dollars, he invested at least 45% of his earnings back into a brand new business within the calendar year.
- $10 million of the $22 million Musk made from the sale of Zip2 went to founding X.com (later PayPal).
- $100 million of the $165 million made from the sale of PayPal went to founding SpaceX.
Musk also invested heavily in Tesla Motors (33,076,212 shares) and SolarCity (20,724,991 shares). It’s the ownership of these three companies that constitutes the vast majority of Musk’s $6.7 estimated wealth.
#7 Hire Carefully, Fire Fast
Musk is known to be meticulous about building his staff:
“I think you definitely don’t want to grow too fast. Make sure that every person you hire you really need to hire that person.”
Elon has called hiring people his “biggest single challenge”:
“I have an exceptionally high standard for people that get hired, and especially for SpaceX. We really aspire to hire quite literally the best people in the world at their job. Finding such people is so hard… When we find them, we are generally able to attract them to the company… But the number one issue for me is finding superlatively talented people. I think we’ve been fortunate to find some very, very talented people at SpaceX, but that is always the governor on growth.”
He’s quick and unsentimental when it’s time to correct a hiring mistake:
“One lesson I learned [at PayPal] is to fire people faster. That sounds awful, but I think if somebody is not working out, it’s best to part ways sooner rather than later. It’s a mistake to try too hard to make something work that really couldn’t work.”
#8 Be Your Own Happiest Customer
Musk loves the Tesla Model 6 so much, he’s going to drive in it across the USA next year with his five young sons. On September 5th, 2013, Musk announced via his Twitter: “Just finalized the LA to NY family road trip route in Model S. 6 day, 3200 mile journey with only 9 hrs spent charging.”
This is more than just a great PR campaign to highlight all of Tesla’s new charging stations across the country. By putting himself behind the wheel of his company’s product for weeks on end, Musk will gain first-hand insight into how to improve Tesla’s premiere electric car.
In the case of SpaceX, Musk gets extra motivation for the company to succeed from his desire to one day be a SpaceX customer. The sooner the better: “I don’t want to be doddering around up there, needing a quadruple bypass,” he says. His plan is to be a on a rocket to Mars by 2030, when he’ll be 61 years old.
Many great inventions and businesses start because their creator wanted the product for his/her own use. Income Diary founder Michael Dunlop’s PopUp Domination was originally developed for Michael’s own websites before he turned it into a public product.
#9 Make Failure an Option
“Failure is an option here. If things are not failing, you are not innovating enough.”
Good business decisions are often very safe. But great business decisions are almost always risky.
All of Musk’s business successes have come in emerging industries with a dubious history of turning a profit: the Internet (in 1995), electric vehicles, space travel, and solar panels. Musk knew going in that there was a high risk of failure, but while he never planned on failing, he always had a contingency plan to allow for failure.
For instance, when Musk set about sending rockets into space, he knew that the first rocket likely wasn’t going to succeed. That’s why he invested enough money into SpaceX ($100 million) to “make failure an option” and allow for up to three launches.
Musk also sees failure as an important part of the creative process: “If every time somebody comes up with an idea it has to be successful, you’re not gonna get people coming up with ideas.”
#10 Leadership Requires Putting Yourself Forward
Musk’s leadership was tested like never before on August 2, 2008. It was the day of SpaceX’s third launch attempt and the future of the company was on the line.
The Falcon 1 launch vehicle made it through the first and most most dangerous stage – the one where it actually breaks away from Earth’s gravitational pull. But the rocket faltered soon after and they lost communication. That was it: mission failed
The 300+ SpaceX employees in attendance were heartbroken – and fearing for their very livelihoods – when Musk stepped up to speak to the crowd. Elon revealed that he had already secured further investment in SpaceX so they would be able to continue their mission in case of complications (again, making “failure an option”). At the climax of his speech, he told his employees not what they should do, but what he was going to do: “For my part, I will never give up,” Musk said, “and I mean never.”
Dolly Singh recalls the crowd’s response:
“I think most of us would have followed him into the gates of hell carrying suntan oil after that. It was the most impressive display of leadership that I have ever witnessed. Within moments, the energy of the building went from despair and defeat to a massive buzz of determination as people began to focus on moving forward instead of looking back. This shift happened collectively, across all 300-plus people in a matter of not more than five seconds.”
SpaceX’s very next launch was a complete success. On September 28th, 2008 the Falcon 1 became the first privately built rocket to achieve earth orbit.
Photo by U.S. Army Kwajalein Atoll (USAKA) [Public domain], via Wikimedia Commons
#11 Be Driven to Work Hard
“If you don’t mind things being really hard and high risk, then starting a company is a good idea. Otherwise, it’s probably unwise. It will certainly stress you out. So I think you have to be pretty driven to make it happen. Otherwise, you will just make yourself miserable.”
– Elon Musk
Musk’s work ethic is legendary. “He is a machine,” says Dolly Singh, who worked under Musk as the head of talent acquisition at SpaceX.
Elon is said to regularly put in 100 hours of work week between Tesla and Space X – and he considers this the bedrock of his business success. When asked to give advice to entrepreneurs, Musk offered, “Just work like hell. If other people are putting 40 hour work weeks and you’re putting in 100 hour work weeks, even if you’re doing the same thing, you know that you will achieve in four months what it takes them a year to achieve.”
To aspiring entrepreneurs, Musk doesn’t mince words: if you’re lazy, don’t waste your time starting a business.
#12 Know Your Limits
Musk may be the smartest and hardest working entrepreneur of the 21st century, but even has limits.
Back in 2006, Elon had an idea for a solar panel company. But he knew that if he started it, he would be overextended and unable to give everything necessary to SpaceX and Tesla. So he shared his idea with Peter and Lyndon Rive, who founded SolarCity in July of that year. Musk was the principle investor in the company and has served as chairman of the board since its inception – but he’s kept a safe enough distance so that it doesn’t eat up too much of his time and energy.
Solar isn’t the only industry he sees huge opportunity. Supersonic jets, hyperloops, and virtual reality interfaces have all earned his attention. He’s skimming the surface in these fields, but not diving in headfirst.
#13 Find Your Higher Purpose
Colonizing Mars is much more than a business decision. It’s about the future of the human species:
“I think it’s important that humanity become a multi-planet species. I think most people would agree that a future where we are a spacefaring civilization is inspiring and exciting compared with one where we are forever confined to Earth until some eventual extinction event. That’s really why I started SpaceX.
Musk used to struggle with his purpose until he found out what really mattered for him. He described the realization:
“I always had an existential crisis, trying to figure out ‘what does it all mean?’ I came to the conclusion that if we can advance the knowledge of the world, if we can expand the scope and scale of consciousness, then, we’re better able to ask the right questions and become more enlightened. That’s the only way to move forward.”
#14 Start Businesses that Align with Your Higher Purpose
Musk’s mission to “expand the scope and scale of consciousness” has had him looking beyond simple profit benchmarks to found businesses that are making a global impact for good. Every day when Musk goes to work, he knows he’s helping to reduce carbon emissions, produce renewable energy, and help save the human race in case of collision with an asteroid.
How’s that for motivation?
The first step to leaving a legacy is to answer Musk’s existential question for yourself: “What does it all mean?” When your business is aligned with your purpose, you will work harder, smarter, and better to achieve your goals.
article courtesy ……..https://www.incomediary.com/
Elon Musk: How to Start a Business………….check each of these links……….
By Vanessa Page
2. Warren Buffett: Success Story
Warren Buffett’s name is practically synonymous with his biggest success: Berkshire Hathaway(BRK.A). Warren became an integral part of Berkshire Hathaway in the early 1960s and helped the company expand into one of the largest conglomerates in the world. In 1956, his path to success began to accelerate when he moved back to Nebraska with his family.
Warren Buffett spent much of his childhood in Washington, D.C., where his father was a long-term member of the United States Congress when he wasn’t focusing on his own investment career. Buffett was an active entrepreneur and aspiring investor from a young age. After two years at the Wharton School at the University of Pennsylvania, Buffett completed his college degree at the University of Nebraska in 1950. Inspired by reading “The Intelligent Investor” by Benjamin Graham, Buffett enrolled in a graduate program at Columbia University, where Graham was a professor, obtaining his Master of Science degree in economics in 1951.
Buffett returned to Omaha in 1951, where he founded the investment firm Buffett-Falk & Co., for which he worked as an investment salesman until 1954. He then returned to Omaha and formed the investment firm of Buffett-Falk & Company, and worked as an investment salesman from 1951 to 1954. In these early years of his career, Buffett became close with Graham and with Lorimer Davidson, the Vice President of GEICO insurance, learning a great deal from each of them. The interactions between former professor and student eventually led to Buffett securing a job with Graham’s New York company, Graham-Newman Corp., where Buffett was employed as a security analyst from 1954 to 1956. Buffett would later credit this early experience and Graham’s exacting investment strategy as critical in the development of his own investment abilities and philosophy.
Buffett’s First Partnership
Before working for Benjamin Graham, Warren had been an investment salesman – a job that he liked doing, except when the stocks he suggested dropped in value and lost money for his clients. To minimize the potential of having irate clients, Warren started a partnership with his close friends and family. The partnership had unique restrictions attached to it: Warren himself would invest only $100 and, through re-invested management fees, would grow his stake in the partnership. Warren would take half of the partnership’s gains over 4% and would repay the partnership a quarter of any loss incurred. Furthermore, money could only be added or withdrawn from the partnership on December 31st, and partners would have no input about the investments in the partnership.
By 1959, Warren had opened a total of seven partnerships and had a 9.5% stake in more than a million dollars of partnership assets. Three years later, Warren was now a millionaire and merged all of his partnerships into a single entity.
Feeling a desire to manage his own partnership, Buffett returned home to Omaha to found Buffet Partnership, Ltd. Though Buffett was just 25 years old, the company started with a capital base of around $100,000 (about $900,000 in today’s dollars). Over the subsequent 13 years, from 1956 to 1969, Buffett and his investors experienced a gain of 30 times their value per share. During this time, Buffett also acquired Berkshire Hathaway, an unprofitable textile company headquartered in New Bedford, Massachusetts (1965). Under Buffett’s guidance, Berkshire altered its basic financial framework; it maintained its textile business even despite external pressures to shut down, and Berkshire also became a holding company for a series of separate investments. Buffett Partnership was liquidated in 1969, when he focused his attention on Berkshire.
Buying Berkshire Hathaway
Buffett’s early years with Berkshire Hathaway were incredibly successful. He first bought shares in the Massachusetts company for $7.60 each. Within three years, the price per share had jumped to $19. He moved Berkshire into the insurance sector and eventually eliminated its textile arm in 1985. Following the 1973-74 market collapse, Buffett began to acquire other companies at bargain prices, including substantial holdings in The Washington Post, ABC, and The Coca-Cola Company, among others. Today, Berkshire is a massive conglomerate with total assets above $700 billion, as of June 2018 and nearly 400,000 employees in its subsidiary companies. The company is still headquartered in Omaha Nebraska where Buffett lives in the same home he has owned since 1958.
Berkshire Hathaway (BRK.A) is one of the most valuable companies in the world by market capitalization. It’s Class A Shares have never split and trade for $317,000 per share as of August 30th, 2018. August 30th, is also Buffett’s birthday, incidentally.
Understanding the beauty of owning insurance companies – clients pay premiums today to possibly receive payments decades later – Warren used Berkshire Hathaway as a holding company to buy National Indemnity Company (the first of many insurance companies he would buy) and used its substantial cash flow to finance further acquisitions.
As a value investor, Warren is a sort of jack-of-all-trades when it comes to industry knowledge. Berkshire Hathaway is a great example. Buffett saw a company that was cheap and bought it, regardless of the fact that he wasn’t an expert in textile manufacturing. Gradually, Buffett shifted Berkshire’s focus away from its traditional endeavors, instead using it as a holding company to invest in other businesses. Over the decades, Warren has bought, held and sold companies in a variety of different industries.
Some of Berkshire Hathaway’s most well-known subsidiaries include, but are not limited to, GEICO (yes, that little Gecko belongs to Warren Buffett), Dairy Queen, NetJets, Benjamin Moore & Co., and Fruit of the Loom. Again, these are only a handful of companies of which Berkshire Hathaway has a majority share.
The company also has interests in many other companies, including American Express Co. (AXP), Costco Wholesale Corp. (COST), DirectTV (DTV), General Electric Co. (GE), General Motors Co. (GM), Coca-Cola Co. (KO), International Business Machines Corp. (IBM), Wal-Mart Stores Inc. (WMT), Proctor & Gamble Co. (PG) and Wells Fargo & Co. (WFC).
Warren Buffett’s investments focus on intrinsic value and simplicity.
John Train, author of “The Money Masters” (1980), provides a succinct description of Buffett’s investment approach: “The essence of Warren’s thinking is that the business world is divided into a tiny number of wonderful businesses – well worth investing in at a price – and a large number of bad or mediocre businesses that are not attractive as long-term investments. Most of the time, most businesses are not worth what they are selling for, but on rare occasions the wonderful businesses are almost given away. When that happens, buy boldly, paying no attention to current gloomy economic and stock market forecasts.”
Buffett’s criteria for “wonderful businesses” include, among others, the following:
- A strong return on capital without a great deal of debt.
- An understandable business model
- A realization of profits in cash flow.
- Strong franchises and an accompanying freedom to price.
- Lack of reliance on a singular individual executive.
- Predictable earnings.
- Owner-oriented management.
While Buffett has not authored any books of his own, he is well known among investors as a writer of annual shareholder letters to Berkshire investors. Buffett has consistently impressed with his broad investment knowledge and capacity for storytelling in these 20-page missives. Copies of the annual shareholder letter are available from 1977 onward through Berkshire’s website.
- “Buffett: The Making of an American Capitalist” by Roger Lowenstein (1996).
- “Warren Buffett Speaks: Wit And Wisdom From The World’s Greatest Investor” (1997)
- “The Warren Buffett Way” by Robert G. Hagstrom (2005)
Warren Buffett is worth $87 billion — here are 9 of his best pieces of advice on success
Mar. 20, 2018, 8:30 AM
Billionaire Warren Buffett says building relationships is crucial. REUTERS/Jo Yong-Hak
- Warren Buffett is one of the richest people alive with a net worth of more than $87 billion.
- Buffett is best known as a savvy investor, but his expertise goes beyond the stock market.
- Buffett advises people to continually learn new things and build relationships to be successful.
When it comes to getting rich, Warren Buffett is in a class all his own.
The 87-year-old founder and CEO of Berkshire Hathaway is worth $87 billion. He first became a millionaire when he was 32.
Buffett’s skill and success with the stock market has reaped major benefits and earned him a nickname: “The Oracle of Omaha.”
Unsurprisingly, many people want to be as rich as Buffett. In fact, most people would probably settle for a fraction of his net worth. Thankfully he’s doled out some helpful advice over the years so others can follow his strategies.
Buffett and Berkshire Hathaway notably invest in stocks over bondsand prefer long-term strategies to constant day trading, but it is more than what and how Buffett invests that has made him successful.
Keep reading for nine of Buffett’s best pieces of advice on getting rich.
Play the long game.
Alex Wong/Getty Images
To make money, an investor shouldn’t buy a stock with the sole intention of selling, Buffett believes. You’re in it for the long game.
“Our favorite holding period is forever,” Buffett first said in the 1988 shareholders’ letter.
Buffett only buys stocks of companies he understands and likes, and thinks selling should be done when you need the money and not when you believe it is a strategic jumping off point.
Always learn new things and be humble.
AP Photo/Nati Harnik
Years ago, Buffett gave an entrepreneur some advice over drinks. He told her to learn something every day, confront opportunities, and always be humble. Though it’s not outright investing advice, it’s a strategy anyone in business would be smart to mimic.
Buffett still goes through the newspaper every morning and reads books throughout the day.
“That’s how knowledge works. It builds up, like compound interest,” he says.
Invest your own money.
Pointing to the four times that the value of Berkshire Hathaway plummeted, Buffett explained the trouble of using loans to invest in stocks in his2018 annual letter. A drop in the value of a stock may cause an investor unneeded worry and lead to poor decisions if the money isn’t entirely theirs to begin with, he said.
On the flip side, Buffett said investors with extra cash and no debt have great opportunities when the market drops because they don’t have to worry about paying someone back and can be aggressive with their investments.
Build relationships and treat people well.
When Buffett visited Iowa State MBA students he talked to them about success. The listeners were surprised by how personal his advice was and how Buffett steered clear of technical talk.
One of the students told USA Today that Buffet taught him “you can’t replace the relationships you build and the way you treat people with business knowledge.”
Look to the future, not the past.
Paul Morigi / Stringer / Getty Images
“Of course the investor of today does not profit from yesterday’s growth,” Buffett wrote in 1951.His words are still true decades later.
Buffett’s warning to investors to look for future growth and not be tricked by unsustainable past performance is helpful when choosing investments.
Don’t assume a higher cost equals superior service.
Getty Images / Jamie McCarthy
Buffett has always championed passive investing over active investing.
In his 2017 shareholders’ letter, Buffett warned that sometimes wealthy people waste money by investing with high-cost investment consultants.
“In many aspects of life, indeed, wealth does command top-grade products or services,” he wrote. “For that reason, the financial ‘elites’ … have great trouble meekly signing up for a financial product or service that is available as well to people investing only a few thousand dollars.”
“Both large and small investors should stick with low-cost index funds,” he wrote in a 2016 letter.
Avoid herd mentality.
In 2004, Buffet said, “try to be fearful when others are greedy and greedy only when others are fearful.” In other words: buy low, sell high. This advice from Buffett warns of the danger of following the crowd and giving way to herd mentality.
Buffett’s longtime strategy is to sell stock when the value is high, rather than scrambling to sell when its low and everyone is fearful that it won’t return to its high value.
Know when to cut your losses.
Bill Pugliano/Stringer/Getty Images
Knowing when to quit is an important trait Buffett learned as a teen trying to recoup his losses at a horse track. After losing once, a young Buffett tried to come out even by betting again, only to lose twice as much as his initial investment.
Sometimes, trying to get out of a hole will only get you into a deeper hole and Buffett suggests that you should often consider cutting your loses to prevent further trouble.
Don’t focus too much on the money.
Brendan Hoffman / Getty
Buffett doesn’t want people to focus too much on how much money they have. Being rich is nice, but how you get there — and the people who help and support you along the way — is what matters the most.
“I tell college students, when you get to be my age you will be successful if the people who you hope to have love you, do love you,” he said.
please read carefully important business advice from warren buffet on all these links
Biography of Bill Gates…..
William Henry Gates was born on 28 October 1955, in Seattle, Washington. As the principal founder of Microsoft, Bill Gates is one of the most influential and richest people on the planet. Recent estimates of his wealth put it at US$84.2 billion (Jan. 2017); this is the equivalent of the combined GDP of several African economies. In recent years he has retired from working full time at Microsoft, and has instead concentrated on working with his charitable foundation “The Bill and Melinda Gates Foundation.”
Early life of Bill Gates
His father William Gates Sr was a senior lawyer, and his mother, Mary, served as an executive for a major bank. The family were wealthy but, remembering the challenges of the Great Depression, they encouraged their children to work hard and take nothing for granted.
Aged 13, Gates attended the private Lakeside school. It was here that Gates had his first introduction to computers. He taught himself to programme in Basic, making a simple ‘Tic-Tac-Toe’ game. Gates enjoyed the process of working with computers and arranged with a company Computer Center Corporation (CCC) to spend time on their computers – learning source code, such as Fortran, Machine Code and Lisp.
In 1973, Gates enrolled at Harvard, where he studied mathematics and computer science. However, Gates was more interested in pursuing his own coding, and when he saw an opportunity to found his own company, he dropped out of Harvard without finishing his course.
Bill Gates foundation of Microsoft
Bill Gates founded Microsoft in 1976 when he formed a contract with MITS (Micro Instrumentation and Telemetry Systems) to develop a basic operating system for their new microcomputers. In the early days, Bill Gates would review every line of code. He was also involved in several aspects of Microsoft’s business such as packing and sending off orders.
The big break for Microsoft came in 1980 when IBM approached them for a new BASIC operating system for its new computers. In the early 1980s, IBM was by far the leading PC manufacturer. However, increasingly, there developed many IBM PC clones; (PCs produced by other companies compatible with IBM’s). Microsoft worked hard to sell its operating system to these other companies. Thus Microsoft was able to gain the dominant position of software manufacture just as the personal computer market started to boom. Since its early dominance, other companies have struggled to displace Microsoft as the dominant provider of computer operating software. Programs like Microsoft Word and Excel have become the industry standard.
Bill Gates – Windows
In 1990 Microsoft released its first version of Windows. This was a breakthrough in operating software as it replaced text interfaces with graphical interfaces. It soon became a best seller and was able to capture the majority of the operating system market share. In 1995 Windows 95 was released, setting new standards and features for operating systems. This version of Windows has been the backbone of all future releases from Windows 2000 to the latest XP and Vista.
Throughout his time in office, Bill Gates has been keen to diversify the business of Microsoft. For example, Microsoft’s Internet Explorer became the dominant web browser, although this was primarily because it came pre-installed on most new computers. In recent years, Internet Explorer has seen its market share slip.
One area where Microsoft has never been successful is in the area of search engines. MSN live search has struggled to gain more than 5% of market share. In this respect, Microsoft has been dwarfed by Google. Nevertheless, the success of Microsoft in cornering various aspects of the software market has led to several anti-trust cases. In 1998 US v Microsoft, Microsoft came close to being broken up into three smaller firms. However, on appeal, Microsoft was able to survive as a single firm. Although Microsoft was the dominant computer firm of the 1980s, and 1990s, they are now seen as an ageing and declining company – compared to the more dynamic Google and Apple.
Philanthropic Activities – Bill Gates
Bill Gates is married to Melinda French (married in 1992). They have three children Jennifer (1996), Rory (1999) and Phoebe (2002). With his wife, Bill Gates formed the Bill & Melinda Gates Foundation. Bill Gates says much of the inspiration came from the example of David Rockefeller. Like Rockefeller, Gates has sought to focus on global issues ignored by the government; he also expressed an interest in improving the standards of public school education in the US. He has appeared with Oprah Winfrey to promote this objective. In respect to charitable, philanthropic activities Gates has also received encouragement from investor Warren Buffet, who has given away $17 billion, through the Gates Foundation.
From 2008 Gates has worked full time on his philanthropic interests. It is estimated Gates and his wife Melinda have given away $28 billion via their charitable foundation – including $8 billion to improve global health.
Gates has said that he has no use for money, and will only leave a small percentage of his wealth to his children. In an interview with the Daily Telegraph, Gates states:
“I’m certainly well taken care of in terms of food and clothes,” he says, redundantly. “Money has no utility to me beyond a certain point. Its utility is entirely in building an organisation and getting the resources out to the poorest in the world.” (1)
His main areas of interest in philanthropy have been improving health, and in particular helping to reduce diseases, such as polio which affect young children. He has also given more focus to environmental issues. In 2015, he gave $1 billion to a clean energy project, as he sees supporting new ‘greener’ technologies as a way to help deal with global warming. Asked about the motivation of his giving, Gates replies:
“It doesn’t relate to any particular religion; it’s about human dignity and equality,” he says. “The golden rule that all lives have equal value and we should treat people as we would like to be treated.”
article courtesy ….https://www.biographyonline.net
Top 10 Business Lessons from Bill Gates
By: Nick Scheidies Topics: Entrepreneurship More posts about: Famous Entrepreneurs
Bill Gates dropped out of Harvard in 1974.
In I975, he co-founded Microsoft – a computer software company that would eventually make Gates the world’s wealthiest man. He earned the money by masterfully guiding the world into the era of networked personal computers.
Today, Gates is no longer the world’s wealthiest, but he’s still worth a healthy US$ 59 billion.
He’s retired from his role as Microsoft’s CEO and instead devotes himself full-time to philanthropy through the Bill & Melinda Gates Foundation. Below, you’ll find 10 business lessons from the life of Bill Gates.
#1 Get Lucky
Gates is a very smart man, but he’s benefitted from more than his fair share of dumb luck.
In 1968, Gates was an eighth grader, attending a private middle school in Seattle called Lakeside. That year, the school invested $3,000 in a state-of-the-art computer.
13-year-old Bill joined computer club and was instantly hooked. He and a handful of other enthusiastic students racked up hours and hours on the machine, learning how to program through trial and error. It was the beginning of a journey that would propel Gates to astronomical success.
Here’s where the dumb luck comes in: in the 1960s, very few colleges had computer labs and a middle school with a computer was unheard of. The chances of a 13-year-old having access to a computer were pretty much one-in-a-million.
If Lakeside hadn’t purchased a computer, then young Bill might never have discovered his love for computer programming and he never would have started Microsoft.
#2 Make the Most of the Luck You’re Given
Bill may have been ridiculously lucky, but all the computer time in the world wouldn’t have meant anything if he hadn’t dedicated himself so fully to master it.
Ultimately, it was the thousands of hours of focused labor that made Gates into the type of computer genius who could start a successful software company.
We don’t always recognize it, but each of us is uniquely lucky. Whether through our natural talents, our circumstances, or our relationships with others, we’re all fortunate to have many paths to success in front of us.
Take in your luck for a moment – and then capitalize on it.
#3 Bite Off More than You Can Chew
Microsoft’s big break came from Bill Gates telling a fib.
Gates called up a computer company called MITS and told them that they had developed a BASIC interpreter for their microcomputer, the Altair 8800.In 1975, Gates and his childhood programming buddy, Paul Allen, were looking for a way to turn their shared computer hobby into a career.
MITS was interested in seeing a demonstration of the software. This presented a problem, since the software Bill had promised didn’t actually exist.
Gates and Allen developed it in a hurry, presented it to MITS, and made the sale. They officially founded Microsoft one month later, in April 1975.
“An entrepreneur tends to bite off a little more than he can chew hoping he’ll quickly learn how to chew it.”
– Roy Ash, co-founder of Litton Industries
By always pushing yourself to deliver a little bit more than you’ve proven yourself capable of, you’ll go further, faster in your business ventures.
That said, I don’t recommend that you follow Bill’s lead and actually lie to your potential clients.
#4 Quality Control is Crucial
As Microsoft grew, it began hiring more and more programmers.
Gates had taken on the role of CEO and his job didn’t call for any programming. But that didn’t stop him from reviewing – and often rewriting – every single line of code that the company released.
Bill’s keen eye for detail ensured that Microsoft always shipped quality software. It also made sure that he never lost track of his team and that he was always intimately familiar with Microsoft’s products.
As your business grows, you’ll likely have to hire a team of employees. It may be tempting to just let them work and trust that they’re doing a good job. But your company has a reputation to protect, so take a page from Gates’ book and keep a close watch on your team’s output.
#5 Revolutionary Ideas are Shown, Not Told
Computer screens once displayed just text.
In the early 80’s, Bill Gates and Steve Ballmer would travel around the country delivering seminars about how graphic interfaces were the operating systems of the future – but nobody believed them.
Computer companies told the Microsoft boys that graphic interfaces would be too slow and that it would be difficult to write the software for them. They were less than enthusiastic when Microsoft announced in 1983 that it was developing Windows.
Attitudes changed quickly in 1984, when Apple launched the Macintosh. It became the first commercially successful computer with a graphical user interface (GUI).
All of a sudden, it was obvious to everyone that the wave of the future involved windows, icons, menus, and a pointing device. Within a few years, the market was flooded with graphical OS software. Notable examples include Deskmate, Workbench, and – of course – Microsoft Windows.
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.
If you’ve got a revolutionary idea, don’t worry if other people don’t get it. Start developing it now so that you’ll be prepared when the time is right.
There is nothing that was overnight.
– Bill Gates
Windows 1.0 actually wasn’t much of a success.
Microsoft released Windows 2.0 two years later, in 1987, but it didn’t fare much better. It found moderate success thanks to software – in particular, Excel, Word, and Aldus Pagemaker.
It wasn’t until 1990, when Microsoft launched Windows 3.0, that they found significant success with a graphical operating system. It was a big moneymaker for the company and it sold over 10 million units in just two years.
Microsoft had found the model that would transform them into a computer software giant.
#7 Share Your Vision with Your Team
Just as Gates has seen the advent of the graphical interface years in advance, he predicted the preeminence of the Internet long before the average Joe had a dial-up connection.
By May 1995, Gates was so convinced that the Internet was Microsoft’s future, that he felt compelled to write a very, very long memo to his company. It concluded:
“The Internet is a tidal wave. It changes the rules. It is an incredible opportunity as well as incredible challenge. I am looking forward to your input on how we can improve our strategy to continue our track record of incredible success.”
Gates took the time to write this memo because he recognized how important it was for his whole team to be on board with Microsoft’s mission. The result: Windows 95 came bundled with Internet Explorer.
#8 Marketing is Simple
People don’t buy a product because it’s got a great logo or a low price. They buy because they’ve got a problem and they’re convinced that the product will solve it.
The most difficult part about marketing, then, isn’t coming up with the right tagline. It’s providing a great solution to an actual problem. If you can do that and then demonstrate it, then marketing your solution is simple.
If you show people the problems and you show people the solutions, they will be moved to act.
– Bill Gates
#9 Don’t Learn From Success
It seems obvious that we should reflect on our successes and learn from them. If we can recognize the factors that contributed to that initial success, we should be able to repeat them and repeat our success.
But Gates has argued that success can actually cloud our vision, causing us to become over-confident and unprepared for the new challenges that the future holds.
Success is a lousy teacher. It seduces smart people into thinking they can’t lose.
– Bill Gates
We shouldn’t ignore the patterns of our initial success. But neither should we cling blindly to particular actions or strategies simply because they’ve worked in the past.
#10 Learn from Unhappy Customers
Over the years, Bill Gates has made a ton of his customers unhappy.
Anyone who has stared at the “blue screen of death” understands why.
But as much as people love to complain about Windows, they continue to use it. Windows has been the world’s primary operating system since 1990 and it boasts a stout 82.5% market share as of August 2011.
The reason is simple: Microsoft continues to respond to customer feedback and improve their products. The attitude starts with Bill Gates, himself:
Your most unhappy customers are your greatest source of learning.
– Bill Gates
Bill Gates career has been marked by his incredible vision. Microsoft beat out the competition largely because they were always looking one step ahead, to the next revolutionary idea.
The lesson here: if you want to get ahead in business, think ahead.
Gates was still thinking ahead when he retired from Microsoft in 2008. He told PC Mag that he thought the Tablet PCs, Internet TV, and natural user interface would be thriving in the near future. History is proving him right.
So, if Gates knew what was coming next, why didn’t he stick around to make it happen? Surely, he could have added a few billion more to his bank accounts.
The answer is that, at some point while thinking about the future, Gates started giving more importance to health care, poverty, and education than he did to the next hi-tech gizmo. He’s making a bigger impact on the future through The Bill & Melinda Gates Foundation than he would have made by continuing to run Microsoft.
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Steve Jobs Biography
Steve Jobs (Feb 24, 1955 – October 5, 2011) was an American businessman and inventor who played a key role in the success of Apple computers and the development of revolutionary new technology such as the iPod, iPad and MacBook.
Steve Jobs was born in San Francisco, 1955, to two university students Joanne Schieble and Syrian-born John Jandali. They were both unmarried at the time, and Steven was given up for adoption.
Steven was adopted by Paul and Clara Jobs, whom he always considered to be his real parents. Steven’s father, Paul, encouraged him to experiment with electronics in their garage. This led to a lifelong interest in electronics and design.
Jobs attended a local school in California and later enrolled at Reed College, Portland, Oregon. His education was characterised by excellent test results and potential. But, he struggled with formal education and his teachers reported he was a handful to teach.
At Reed College, he attended a calligraphy course which fascinated him. He later said this course was instrumental in Apple’s multiple typefaces and proportionally spaced fonts.
Steve Jobs in India
In 1974, Jobs travelled with Daniel Kottke to India in search of spiritual enlightenment. They travelled to the Ashram of Neem Karoli Baba in Kainchi. During his several months in India, he became aware of Buddhist and Eastern spiritual philosophy. At this time, he also experimented with psychedelic drugs; he later commented that these counter-culture experiences were instrumental in giving him a wider perspective on life and business.
“Bill Gates‘d be a broader guy if he had dropped acid once or gone off to an ashram when he was younger.” – Steve Jobs, The New York Times, Creating Jobs, 1997
Job’s first real computer job came working for Atari computers. During his time at Atari, Jobs came to know Steve Wozniak well. Jobs greatly admired this computer technician, whom he had first met in 1971.
Steve Jobs and Apple
In 1976, Wozniak invented the first Apple I computer. Jobs, Wozniak and Ronald Wayne then set up Apple computers. In the very beginning, Apple computers were sold from Jobs parents’ garage.
Over the next few years, Apple computers expanded rapidly as the market for home computers began to become increasingly significant.
In 1984, Jobs designed the first Macintosh. It was the first commercially successful home computer to use a graphical user interface (based on Xerox Parc’s mouse driver interface.) This was an important milestone in home computing and the principle has become key in later home computers.
Despite the many innovative successes of Jobs at Apple, there was increased friction between Jobs and other workers at Apple. In 1985, removed from his managerial duties, Jobs resigned and left Apple. He later looked back on this incident and said that getting fired from Apple was one of the best things that happened to him – it helped him regain a sense of innovation and freedom, he couldn’t find work in a large company.
Life After Apple
On leaving Apple, Jobs founded NeXT computers. This was never particularly successful, failing to gain mass sales. However, in the 1990s, NeXT software was used as a framework in WebObjects used in Apple Store and iTunes store. In 1996, Apple bought NeXT for $429 million.
Much more successful was Job’s foray into Pixar – a computer graphic film production company. Disney contracted Pixar to create films such as Toy Story, A Bug’s Life and Finding Nemo. These animation movies were highly successful and profitable – giving Jobs respect and success.
In 1996, the purchase of NeXT brought Jobs back to Apple. He was given the post of chief executive. At the time, Apple had fallen way behind rivals such as Microsoft, and Apple was struggling to even make a profit.
Return to Apple
Jobs launched Apple in a new direction. With a certain degree of ruthlessness, some projects were summarily ended. Instead, Jobs promoted the development of a new wave of products which focused on accessibility, appealing design and innovate features.
The iPod was a revolutionary product in that it built on existing portable music devices and set the standard for portable digital music. In 2008, iTunes became the second biggest music retailer in the US, with over six billion song downloads and over 200 million iPods sold.
In 2007, Apple successfully entered the mobile phone market, with the iPhone. This used features of the iPod to offer a multi-functional and touchscreen device to become one of the best-selling electronic products. In 2010, he introduced the iPad – a revolutionary new style of tablet computers.
The design philosophy of Steve Jobs was to start with a fresh slate and imagine a new product that people would want to use. This contrasted with the alternative approach of trying to adapt current models to consumer feedback and focus groups. Job’s explains his philosophy of innovative design.
“But in the end, for something this complicated, it’s really hard to design products by focus groups. A lot of times, people don’t know what they want until you show it to them.”
– Steve Jobs, BusinessWeek (25 May 1998)
Apple has been rated No.1 in America’s most admired companies. Jobs management has been described as inspirational, although c-workers also state, Jobs could be a hard taskmaster and was temperamental. NeXT Cofounder Dan’l Lewin was quoted in Fortune as saying of that period, “The highs were unbelievable … But the lows were unimaginable.”
“My job is not to be easy on people. My jobs is to take these great people we have and to push them and make them even better.” – All About Steve Jobs [link]
Under Jobs, Apple managed to overtake Microsoft regarding share capitalization. Apple also gained a pre-eminent reputation for the development and introduction of groundbreaking technology. Interview in 2007, Jobs said:
“There’s an old Wayne Gretzky quote that I love. ‘I skate to where the puck is going to be, not where it has been.’ And we’ve always tried to do that at Apple. Since the very very beginning. And we always will.”
Despite, growing ill-health, Jobs continued working at Apple until August 2011, when he resigned.
“I was worth over $1,000,000 when I was 23, and over $10,000,000 when I was 24, and over $100,000,000 when I was 25, and it wasn’t that important because I never did it for the money.”
– Steve Jobs
Jobs earned only $1million as CEO of Apple. But, share options from Apple and Disney gave him an estimated fortune of $8.3billion.
In 1991, he married Laurene Powell, together they had three children and lived in Palo Alto, California.
In 2003, he was diagnosed with Pancreatic Cancer. Over the next few years, Jobs struggled with health issues and was often forced to delegate the running of Apple to Tim Cook. In 2009, he underwent a liver transplant, but two years later serious health problems returned. He worked intermittently at Apple until August 2011, where he finally retired to concentrate on his deteriorating health. He died as a result of complications from his pancreatic cancer, suffering cardiac arrest on 5 October 2011 in Palo Alto, California.
In addition to his earlier interest in Eastern religions, Jobs expressed sentiments of agnosticism.
“Sometimes I believe in God, sometimes I don’t. I think it’s 50-50 maybe. But ever since I’ve had cancer, I’ve been thinking about it more. And I find myself believing a bit more. I kind of – maybe it’s ’cause I want to believe in an afterlife. That when you die, it doesn’t just all disappear.”
Quote in Biography by Walter Isaacson.
Steve Jobs is buried in an unmarked grave at Alta Mesa Memorial Park, a nonsectarian cemetery in Palo Alto.
article courtesy ….https://www.biographyonline.net
Steve Jobs – 7 tips for business success
“People say you have to have a lot of passion for what you’re doing and it’s totally true. And the reason is because it’s so hard that if you don’t, any rational person would give up. It’s really hard. And you have to do it over a sustained period of time. So if you don’t love it, if you’re not having fun doing it, you don’t really love it, you’re going to give up.
And that’s what happens to most people, actually.
If you look at the ones that ended up being successful in the eyes of society, often times it’s the ones who are successful loved what they did, so they could persevere when it got really tough.
And the ones that didn’t love it quit because they’re sane, right? Who would want to put up with this stuff if you don’t love it?
So it’s a lot of hard work and it’s a lot of worrying constantly. If you don’t love it, you’re going to fail. So you got to love it, you got to have passion, and I think that’s the high order bit.”
“You have to be a really good talent scout.
Because no matter how smart you are, you need a team of great people, and you have to figure out how to size up people fairly quickly how to make decisions without knowing people too well.
And hire them and you know, see how they do and refine your intuition. And be able to help, you know, build an organization that can eventually just, you know, build itself, um, because you need great people around you.
We agonized over hiring, we had interviews, they would start at nine or ten in the morning and go through dinner. New interviewee would talk to everybody in the building at least once, and maybe a couple times, and then come back for another round of interviews. And then we’d all get together and talk about it.”
“We went through that stage in Apple where we went out, and we thought, we’re going to be a big company, let’s hire professional management. We went out and hired a bunch of professional management – it didn’t work at all. Most of them were bozos. They knew how to manage, but they didn’t know how to do anything. And so, if you’re a great person, why do you want to work for somebody you can’t learn anything from? And, you know what’s interesting, you know who the best managers are? They are the great individual contributors who’d never ever want to be a manager, but decide they have to be a manager because no one else is going to be able to do as good job as them.”
“We think the Mac will sell zillions, but we didn’t build the Mac for anybody else. We built it for ourselves. We were the group of people who were going to judge whether it was great or not. We weren’t going to go out and do market research. We just wanted to build the best thing we could build.
When you’re a carpenter making a beautiful chest of drawers, you’re not going to use a piece of plywood on the back, even though it faces the wall and nobody will ever see it. You’ll know it’s there, so you’re going to use a beautiful piece of wood on the back. For you to sleep well at night, the aesthetic, the quality, has to be carried all the way through.”
“Marketing is about values. This is a very complicated and noisy world. And we’re not going to get a chance for people to remember much about us. No company is. So we have to be really clear on what we want them to know about us.
Now Apple fortunately is one of the half a dozen best brands in the whole world, right up there with Nike, Disney, Coke and Sony. It is one of the greats of the greats, not just in this country but all around the globe. But even a great brand needs investment and caring if it’s going to maintain its relevance and vitality.
The Apple brand has clearly suffered from neglect. We need to bring it back. The way to do that is not to talk about speeds and feeds. It’s not to talk about MIPS and megahertz. It’s not to talk about why we’re better than Windows.
The best example of all and one of the best jobs of marketing the universe has ever seen is Nike. Nike sells a commodity. They sell shoes. And yet when you think of Nike, you think of something different than just a shoe company.
In their ads they don’t ever talk about the product. They don’t ever talk about their air soles and why they are better than Reebok’s air soles. What does Nike do in their advertising? They honour great athletes, and they honour great athletics. That’s who they are. That’s what they are all about.”
Mark Parker (CEO of Nike) about Steve Jobs and his advice:
“Well, he didn’t call to offer me advice, but we had worked together on Nike Apple collaboration called Nike Plus, we took what Apple knows, what Nike knows, and brought new technology to the market. Anyway, long story short, he said, “hey, congratulations, that’s great, you’re going to do a great job.” And I said “well, do you have any advice?” And he said “No, no, you’re doing great.” And there is a pause and he goes, “well I do have some advice. Nike makes some of the best product in the world, I mean products that you lust after, absolutely beautiful stunning products. But you also make a lot of crap.” He said, “just get rid of the crappy stuff and focus on the good stuff.” And then I expected a little pause and a laugh, but there was a pause but no laugh. And he was absolutely right.”
“Sometimes life hits you in the head with a brick. Don’t lose faith….You’ve got to find what you love. And that is as true for your work as it is for your lovers. Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking. Don’t settle. “
“Death is very likely the single best invention of Life. It is Life’s change agent. It clears out the old to make way for the new. Right now the new is you, but someday not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic, but it is quite true.
Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma — which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.”
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Larry Page biography
- Internet entrepreneur and computer scientist Larry Page teamed up with grad school buddy Sergey Brin to launch the search engine Google in 1998.
Who Is Larry Page?
Born in Michigan in 1973, Larry Page’s parents were both computer experts, so it was no surprise that he studied computer engineering at Stanford University. That’s where he met Sergey Brin. Together, Page and Brin developed a search engine that listed results according to the popularity of the pages, calling it “Google.” Since launching Google in 1998, the company has become the world’s most popular search engine.
Early Life and Career
Larry Page was born Lawrence Page on March 26, 1973, in East Lansing, Michigan. His father, Carl Page, was a pioneer in computer science and artificial intelligence, and his mother taught computer programming. After earning a Bachelor of Science degree in engineering from the University of Michigan, Page decided to concentrate on computer engineering at Stanford University, where he met Sergey Brin.
As a research project at Stanford University, Page and Brin created a search engine that listed results according to the popularity of the pages, after concluding that the most popular result would often be the most useful. They called the search engine “Google” after the mathematical term “googol,” which refers to the No. 1 followed by 100 zeros, to reflect their mission to organize the immense amount of information available on the web.
After raising $1 million from family, friends and other investors, the pair launched the company in 1998. Google has since become the world’s most popular search engine, receiving an average of 5.9 billion searches per day in 2013. Headquartered in the heart of California’s Silicon Valley, Google held its initial public offering in August 2004, making Page and Brin billionaires.
In 2006, Google purchased the most popular website for user-submitted streaming videos, YouTube, for $1.65 billion in stock.
In September 2013, Page was ranked No. 13 on the Forbes 400 list of the richest people in America. That October, he was ranked No. 17 on Forbes‘ 2013 “Most Powerful People” list. As Google’s CEO, Page shared responsibility for the company’s day-to-day operations with Brin, who served as director of special projects for Google, and Eric Schmidt, the company’s executive chairman.
On August 10, 2015, Page and Brin announced the creation of a new parent company called Alphabet to oversee Google and other subsidiaries. Page and Brin were set to serve as the new company’s CEO and president, respectively, with Sundar Pichai stepping in as Google’s top executive.
Autonomous Air Taxi
In March 2018, it was announced that a company personally funded by Page, called Kitty Hawk, had reached an agreement with officials in New Zealand to begin the certification process on a fully electric, self-piloting flying taxi.
Kitty Hawk had been testing its aircraft, nicknamed Cora, over New Zealand since the previous October. With Boeing, Airbus and Uber among the companies looking to break ground in the burgeoning air taxi industry, Kitty Hawk was aiming to have a commercial network of vehicles up and running by 2021.
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10 inspirational lessons from Larry Page, Google CEO, that will change the course of your business
1.‘You don’t need a company with 100 people to develop this idea’.
Do you know what Google, Apple, Disney and Amazon have in common? All of them we born in a garage empty of resources but full of dreams, and this is exactly what you need to have a functioning business: bet on it, believe in your idea and advance with determination to accomplish your goals even though you may not have the necessary resources at the moment.
Imagine if Larry Page, Steve Jobs, Walt Disney or Jeff Bezos had ceased in developing their ideas only due to not having a large number of people to back them. Fortunately for us— and for their pockets—, they didn’t do this.
Extra tip: Don’t let excuses distract you from your goals; it seems obvious but you’d be surprised about how many things can happen when you believe in what you are and what you do.
2.‘Our goal is basically to take the largest amount of information and make it accessible and useful’.
(And it seems like it hasn’t steered them wrong, right?)
One of the secrets to the Google CEO’s success is found in this phrase: he knew where he wanted to go and once you know where you’re going it’s much easier to get there.
Extra tip: Define your company’s purpose in a single sentence to make sure that you really know what you want to do; if you can’t do this it means that your goal isn’t clear enough.
‘When we began the searches, they all told us: boys, it’s going to fail, there are already 5 search engines. We replied: we’re a search engine company, but we’re doing something different’.
Here lies the key: for all the competition you have in your market niche try to look for what makes you different from others and make it your differentiating value.
Don’t forget that competition is healthy and necessary, because without it you won’t be able to improve nor advance; study them and don’t lose sight of them but move fast so you’ll always be one step ahead.
Extra tip: Constantly look to differentiate yourself from your competition by offering something that they don’t have and creating your own brand image.
4.‘Treat people with respect and they’ll return the favor to your company’.
People are the most important asset for your Company, and this is something that you should never forget. If you treat your employees with as much respect as your clients and potential clients, you’ll see how they’ll act the same with your company.
Extra tip: On one hand, reward your employees’ performance when necessary, being as this is shown to increase productivity and helps squeeze out talent. On the other hand, make your business strive for your audience to be happy and it’ll be much easier for these users to become clients.
- ‘If you are changing the world, you’re working on important things’.
In order for your business to function well you have to ensure to resolve problemsand provide needs. That’s why, as said by Google CEO, Larry Page, if you help people you’re doing right.
Extra tip: Search for how your business can help people instead of thinking about the money you can earn. If you do that, the latter will just come.
‘It’s important for a company to be a family: that people feel as if they’re part of the company and the company is like a family to them’.
Work for every employee to feel valued, try to learn their needs and challenges, be interested in them and make every member of your team feel like they’re part of your company. Because if everyone just worked for themselves you’ll be able to reach great heights, but it’s only by working in teams where everyone is happy that they’ll be able to achieve extraordinary things.
Extra tip: Try to reserve some time during the work day aimed at encouraging teamwork and creating cohesion among the members of your team, being as these meetings known to strengthen ties and build teamwork. For example, organize a team outing to enjoy activities outside or promote activities within the company that encourage interacting with other team members.
‘It’s not necessary to go to school to launch a business. I read a whole shelf of business books and that was basically all I needed’.
You would be surprised with the number of people who’ve thrown their dreams of launching their own business aside just for not having gone to college or having a specific degree.
The big business men and women all have something in common: whether they have a degree or not, they’ve never cast aside learning and transforming themselves even if it’s something as simple as reading.
If you want to have your own business, then just concern yourself with learning. In fact, Larry Page once said: “live, learn, love… the important things in life”.
Extra tip: Dedicate a few minutes a day to reading books or even articles that will help you with your business: from how to have a successful business to how to improve the process, how to find the best content for your audience or how to create your own social media strategy . In our blog a few you can read up on this.
- ‘I know it seems like the world is falling apart but in all actuality it’s a great point in your life to get a little crazy. Follow your curiosity and be ambitious with it. Don’t abandon your dreams. The world needs you!’.
This can be summed up in another on of the Google CEO’s famous phrases: “when a dream appears, take it!”.
There’s nothing that produces more satisfaction than accomplishing goals and fulfilling your dreams, so believe in your dreams because they just might be able to feed you for the rest of your life.
Extra tip: The most successful businesses are built on dreams and ideas, so again: allow yourself to bet strongly on what you believe.
- ‘We won’t be able to survive if people don’t trust us’.
In order to get people —in this case your audience— to believe in you, you have to earn it.
Focus on your audience’s needs, have a presence on the social networks where your target public is and carry out various actions focused on gaining the confidence of your potential clients, like for example, offering them quality contentor by having great customer service.
Extra tip: Why don’t you create some type of promotion or contest on socialnetworks that helps you attract traffic and retain your clients? This is a great way of putting yourself out there, interacting with your consumers and generating confidence. Furthermore, there are tools especially designed to facilitate the whole process, like SocialTools.
‘What’s the sentence that sums up how to change the world? Always work on something uncomfortably exciting!’
Comfortability is the worst friend for a successful business to have, so steer clear from it and try to put some effort into every task you do and every objective you pursue. If you’re able to make each day of work exciting and thrilling, then they’ll be no one to hold you back.
Extra tip: Don’t get too comfortable and when you accomplish a goal celebrate! but move quickly to the next. The issue is going to climb Little by Little, thus your business will grow and evolve.
What did you think about these 10 lessons from the brain of Google to apply to your business? In 2012 when Larry Page was the Google CEO, he told his investors: “whatever you can image is possible”. Do you need anything else to start? Put these tips in practice and then tell u show it went!
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