Being at the right place at the right time is always an advantage. When successful entrepreneurs seize the opportunity and become successful, they often credit their fortunes for their successful ventures. But it’s not always their fortune that works out for them. Many of them have had failed ventures before even starting up that one single successful venture. Often it turns out to be things like determination, commitment, perseverance and goal orientation are the attributes that these entrepreneurs have which help them towards achieving their goals.
Bill Gates is an example of this. From the outer perspective, it may look like he was at the right place at the right time. But he too had to face hardships and had to overcome these obstacles. He faced competitions as well and only “good fortune” wouldn’t have been enough to get him through all these obstacles.
Initial days of Microsoft: Tackling challenges
Before Microsoft became a huge success in the 80s, Bill Gates never imagined that it was even possible. He struggled with self-confidence and feared that it would end up in failure. He wasn’t even planning to start Microsoft; initially he wanted to be a professor of Mathematics. But his friend Paul Allen persuaded him to pursue Computer Programming and to leave his comfort zone. They were both working at a software company in 1974, when they had the idea of doing something different. Taking this decision required a serious mental shift. They had to drop out from their universities and pursue something that was uncertain. They were thinking about turning from mere academics to a manager, a CEO, and most of all, a leader.
Seizing opportunity instead of waiting for luck
After the initial risk they took, Bill Gates was still tense as he watched his idolized companies fail one by one. Two examples of these companies would be Digital Equipment and Wang. These two were one of the top companies at the time and both of them faced bankruptcy. All of this led to him being cautious in the way he ran business. He was always careful not to hire too many people and end up going over the budget. He used to worry how he would be able to pay for these people if Microsoft didn’t generate enough money. But he managed to make things better after he realized delegating works and resisting micromanaging was the way to go. He had to resist himself from perfecting the works of his peers. And when he did, the company began to make large profits. And by the time he was 30, Microsoft had already become one of the biggest companies in the world.
Learning from challenges and working accordingly
Things were risky for Bill Gates. Those early days taught him a vital lesson, which is why even when things were risky he held onto things and his plan with firm determination. He believes that feeling challenged that early in his career really helped him shape his company better and let him become successful.