How to Become the next Bill Gates

We all want to be successful in our lives!                                                                                               We have a lot of ideas in our mind that I will do this and that and while thinking about these such things we often copy the idea of the people whom we take inspiration from like I will start a Big Tech company just like Bill Gates. But the thing we forget is that if we want to do something like these people we have to do something entirely new like them. Hope you understand my point. Let me elaborate a little more. Steve Jobs was the first person to think about the idea of a PC for everyone. Let’s imagine Mark Zuckerberg was inspired by him and also wanted to do the same thing as him but did he start a company same as Apple. You all know the answer. So the thing is if we want to do something the same as people like Bill Gates, Steve Jobs, or Elon Musk we have to do entirely different things from them.

But! what valuable company is nobody building?                                                                              Every correct answer is necessarily a secret. Something important and unknown, something hard to do but doable. If there are many secrets left in the world, there are probably many world-changing companies yet to be started. So how to find the secret?

Ask Questions and try to unleash secrets

Indeed, we can only get answers if we ask questions. Secrets about people are different: they are the things that people don’t know about themselves or things they hide because they don’t want others to know. So you can start by thinking that what secrets are people and nature not telling you. Take the example of UBER-it’s idea now appears to be simple but if it was why didn’t it come to everybody's mind. The same can be said for Airbnb or OYO. There are lots of ideas still hidden from us. You just need to find the right perspective or vision to unleash it.

Ask yourself:

• Are you at the right place where you can find any secret?
• Are you with the right people who can help you in finding it?
• Do you have enough knowledge to recognize the idea if it’s exactly present in front of you?

If your answer is NO to any of these questions, you need to start taking action immediately. If you feel you don’t have enough knowledge immediately start reading a good book. If you are not surrounded by the right people immediately change your company and so on. . .

So as I am an optimistic person, I believe that you have found the secret that will help you to become the next Bill Gates or first (your name). Here are some tips that we can take from them to turn our idea into a product to make fortune just like them and change people’s lives.

Always start small (small change)

A lone genius can create an Excellent piece of art but can never create an entire industry. If you want to revolutionize the entire industry firstly start by creating a small thing that you are good at and then step by step move towards a big thing. The point is to try to capture a market where you have the least competition and or even can have the monopoly. The bigger the market the more the competition.

Every startup is small at the start. Every monopoly dominates a large share of its market. Therefore, every startup should start with a very small market. Take the example of Facebook. Firstly the app was only designed for Howard students and then expanded to other Universities and was then launched on a larger scale. In my opinion, if from starting Mark Zuckerberg tried to launch it on a world level he wouldn’t be successful. Once you create and dominate a niche market, then you should gradually expand into related and slightly broader markets.

Provide 10x more value!

If you want to escape from the competition your product or the service must be 10 times better than the competitors. Take the example of Macs- there were computers before but apple just made them 10 times better and become the world’s largest company. It’s the same for the iPhone, there were mobiles present before but apple just made them 10 times better. It’s the same for Facebook, Windows, Google, and all other successful companies worldwide. Amazon made its 10x improvement most visibly. It offered 10 times as many books as any other bookstore.

The ideology of competition

The more we compete the lesser we gain. Yes! that is true in the field of business. We try to compete, internalize its necessity and enact its commandments; and as a result, we trap ourselves within it and start cutting profits to be better than the others and in the way harm, ourselves as in business keep making profits is the most important aspect.

Become a creative monopoly- it means new products that benefit everybody and sustainable profits for the creator. Competition means no profits for anybody, no meaningful differentiation, and a struggle for survival. If your business is in competitive equilibrium, the death of your business won’t matter to anybody; Some other competitor will always be ready to take your place. In the real world economics theory, every business is successful exactly to the extent that it does something others cannot.

It’s a saying that all happy families are alike but all the unhappy families are different in their way. Business is the opposite. All happy companies are different: each one earns a monopoly by solving a unique problem. All failed companies are the same: they failed to escape competition.

Advantage of being the last mover

We all have probably heard about the “ first-mover advantage”: if you’re the first entrant into a market, you can capture significant market share while competitors scramble to get started. But in reality, being the first mover is a tactic, not a goal. What matters is generating cash flows in the future, so being the first mover doesn’t do you any good if someone else comes along and unseats you. So it’s much better to be the last mover-that is, to make the last great development in a specific market and enjoy years or even decades of monopoly profits.

“You must study the endgame before everything else.”

Don’t Disrupt!

Try not to damage the existing players in your field (if any are present). Rivalry causes us to overemphasize old opportunities and slavishly copy what has worked in the past. It will do more harm than benefit as they will also start attacking you and no matter how careful you are they are going to break you in some way. Instead, collaborate with them which will benefit you both as winning is better than losing, but everybody loses when the war isn’t one worth fighting.

Last but not the least, always keep in mind that you are not a lottery ticket. Keep in mind that victory awaits him who has everything in order. A startup is the largest endeavor over which you can have definite mastery. You can have agency not just over your own life, but over a small and important part of the world. It begins by rejecting the unjust tyranny of Chance. You are not a lottery ticket.

“Shallow men believe in luck, believe in circumstances. . . . Strong men believe in cause and effect.”