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Everybody is familiar with Apple and Microsoft along with their founders and former CEOs, Steve Jobs and Bill Gates. With the vision and hard work of these brilliant individuals, Apple and Microsoft are now two of the world’s largest tech companies.

Articles, reports, books, and films reveal and detail Jobs’ and Gates’ riches, their companies’ profits and net worth, and other statistical data about their enterprises. But their influence in business, technology, and popular culture is undoubtedly widespread and immeasurable. So for entrepreneurs like you, who are looking for wisdom and inspiration, here are some valuable lessons from these two leading tech visionaries.

5 Lessons From Steve Jobs:

1.Don’t Stop Innovating

Apple is known as one of the most innovative companies ever built. Thanks to Steve Jobs’ vision, wisdom, and creativity. For him, it’s important to continuously introduce new products and upgrade the existing ones. Even cancer didn’t stop him from thinking, doing, and bringing technological innovation. No wonder, Apple has built and is still achieving success by improving and reinventing what’s already there.

2. Trust Your Instincts

One of Steve Jobs’ most striking traits is that he always made intuitive decisions. For him, instinct plays a major role in running a business. He never resorted to outside polling or market research to determine product directions. He had the foresight, belief, and confidence that if he liked something, the public would, too. Based on the performance of Apple products in the market, Jobs was most probably right.

3. Focus On Products, Not Profits

Apple is committed to creating cutting-edge, engaging, user-friendly, and helpful devices in the market. With a lean product portfolio, the company is able to focus on the few products it owns, making sure that it provides great overall user experience. With those objectives, Jobs knew that the customers will be satisfied. And when they are happy with the products and service, profits will follow.

4. Surround Yourself With The Best Talent

Steve Jobs was a true visionary and a certified technological genius. But his success can also be attributed to the extremely talented people he surrounded himself with. He knew what he was good at and at the same time recognized what he cannot offer. Jobs brought in A-level talents to help him in areas he’s not really good at. He expected and got them to do great things. And as a result, the company flourished and succeeded.

5. Learn From Failure

In the mid-1980s, Steve Jobs walked out of Apple after a bust-up with the company’s then-CEO. But instead of retiring, he founded the computer company NeXT and bought studio animation firm Pixar. And although Apple has failed to beat Microsoft at market share, it has beaten all PC manufacturers in terms of profits. When it comes to revenue and shipment, Apple has become the world’s biggest and most successful smartphone manufacturer!

5 Lessons From Bill Gates:

1. Take Risks and Persevere

Bill Gates was once quoted as saying, “Business is a money game with few rules and a lot of risk.” Building and running a business involves a lot of risks. But you’ll never know if something will work if you don’t give it a try. For Gates, the biggest risk was when he dropped out of college to co-found Microsoft with his friend, Paul Allen. And with his perseverance and expertise, Microsoft became one of the world’s top software companies while he became the richest man in the world.

Taking risks also holds true when the company was just starting to develop Windows. The first two versions didn’t fare well. But they persevered and finally launched Windows 3.0 in 1990, which brought the company significant success.

2. Think Ahead

Bill Gates has always been known for his incredible vision. Throughout the years, Microsoft beat out the competition because they were always thinking one step ahead. Gates maintains a vision of the future and is always looking for the bigger and better things. When he retired from Microsoft in 2008, he shifted his focus on his philanthropic efforts through The Bill & Melinda Gates Foundation, which is now making a big impact on the world’s future.

3. Learn From Unhappy Customers

Over the years, Bill Gates and Microsoft also had their fair share of unhappy and unsatisfied customers. But instead of taking this as something negative, Gates learned from the experience. He says, “Your most unhappy customers are your greatest source of learning.” The company continues to learn and use the customers’ insights and feedback to improve its products.

4. Use Time Wisely

For Bill Gates, time is very valuable so we should use it wisely. “No matter how much money you have, you can’t buy more time,” he once said. This is why he always prioritizes the tasks he thinks are the most important. He also makes sure that he takes the time out to communicate with the people closest to him.

5. Look Past Success

One of the greatest business and life lessons we can learn from Bill Gates is to not let success distract you and get into your head. It’s natural that we reflect on our successes and learn from them, but make sure that it doesn’t cloud your vision and judgment. He was even quoted as saying, “Success is a lousy teacher. It seduces smart people into thinking that they can’t lose.” For Gates, it’s best to always stay humble.

Steve Jobs and Bill Gates are two of the wealthiest, most successful, and most influential individuals that revolutionized the technology of the modern age. Their rivalry has been told and debated too many times. But what really matters is their exceptional work on the brands they helmed. Fast forward to today and we are still benefitting from their business acumen. Learn from their wisdom, proven strategies, and characteristics and you can lead your business to success, too!

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Check out Infographic: Business Lessons from Tech Visionaries summarizing the lessons we can learn from Steve Jobs and Bill Gates!

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