Valuable Lessons from Billionaire U70!

Bill Gates, the American billionaire and entrepreneur, is famous for co-founding Microsoft and dropping out of Harvard at the age of 19. He had a strong belief that computers would become a widely-used technology worldwide. Today, Gates is the 5th richest person in the world, with a net worth of $153 billion according to Bloomberg.

In the tech world, there are many stories circulating about the billionaire U70, including one related to a TV host and a blank check. During an interview, Bill Gates was asked the frequently asked question, “What is your secret to success?” Instead of answering right away, Gates took out a blank check, signed it, and handed it to the host, asking her to write down the amount she wanted. The host was surprised by this unexpected action and quickly declined, reiterating her initial question.

Undeterred, Gates handed the check back to the host, who once again refused. This time, Gates tore up the check and replied, “My secret to success is never missing an opportunity, just like you did. You could have become the richest TV host in the world.”

From this story, we can learn that opportunities are not always readily available. Therefore, it is crucial to seize them quickly to avoid regret later on.

In another interview, Bill Gates shared some other tips for success:

1. Maximize your time

If you want to accomplish something, don’t wait for tomorrow, next week, next month, or next year. If you don’t enjoy your current job, look for another one as soon as possible. If you want to start a business, come up with ideas and plan to make them a reality. Don’t waste a single minute, as it is each individual’s most valuable and irretrievable asset.

Of course, it is important to strike a balance between personal life and work. In a recent speech at Northern Arizona University, Bill Gates admitted that when he was young, he did not believe in vacations, weekends, or even coworkers.

“Don’t wait as long as I did to learn this lesson. Dedicate time to nurturing relationships. Rest when needed. Be comfortable around those around you because they need rest too,” he stated.

Bill Gates presenting a blank check to a TV host

2. Save

British mathematician John Littlewood developed “Littlewood’s Law of Miracles.” According to this law, in everyone’s life, a miracle will happen about once a month. The same law applies to unfortunate events. Any difficulty can occur in our lives.

Therefore, Bill Gates advises everyone to save as if they were a pessimist to prepare for unforeseen circumstances. Assume that what you have today could be lost tomorrow. Like Gates did with Microsoft, remember to save enough money to live for at least six months if you suddenly lose your source of income.

3. Invest

Investing here does not simply refer to investing in the stock market, real estate, or any business venture. You can also invest in yourself to increase your value.

Investment legend Warren Buffett shared in a video in 2018, “An easy way to increase your current value by at least 50% is to improve your communication skills, both in writing and speaking. If you have poor communication skills, it’s no different than ‘winking at a girl in the dark’.”

4. Keep everything under control

Microsoft’s current success is built on Bill Gates’ management style. The billionaire is effective at managing multiple projects simultaneously, answering multiple phone calls, and participating in various conversations.

Bill Gates admits that he is always haunted by the fear of missing the next big contract or something significant in a project. Therefore, he always finds ways to keep everything under control and never misses an opportunity.

5. Stay calm and decisive

A good manager accepts bad news calmly because fear is useless. Bill Gates advises, “Don’t lose your calm; eventually, every problem will be resolved, whether it is easy or not. Losing control will certainly be detrimental to problem-solving.”

6. Don’t rest on your laurels

Bill Gates believes that success is sometimes deceiving and can be lost at any time. “When you succeed, don’t rest on your laurels. Instead, set new goals and strive to achieve them,” he says.

In his book “The Road Ahead,” published in 1995, Bill Gates wrote that failure often teaches us more about success than actual success. Furthermore, success can be dangerous, as it can tempt smart people into thinking that they cannot fail.

“Success is a terrible teacher. It seduces smart people into thinking they can’t lose,” he wrote.

According to Inc and Entrepreneur, Bill Gates has shared these valuable lessons on success. So, let’s learn from the experiences of a billionaire and apply these lessons in our own lives.

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