What can we learn from Bill Gates, the world’s richest man?

Inspiring Stories

15 April 2019

What can we learn from Bill Gates, the world’s richest man?

  • Posted by Awfis Editorial

From humble beginnings to setting up a software empire, his empire has changed the world as we know it and made him worth $89 billion when he stepped down as CEO.

One of the most popular entrepreneurs of all time, Bill Gates is better known as the prodigy who started the technology revolution by launching a software company after dropping out of Harvard in 1974.

His success at Microsoft has earned him the title of one of the richest men in the world. We’ve put together a few of his leadership lessons that we believe can help your business grow

#1 Do not get distracted by success

Bill Gates has said “Success is a lousy teacher. It seduces smart people into thinking they can’t lose”.

It is but human to get carried away by success, especially when it comes easily, and keeps coming. But that’s not the case with Bill Gates. He never allowed his success to cloud his business judgements. He lacks overconfidence and understands that success cannot supersede business ethics. Yes, he does attribute his initial success as the stepping stone for future triumphs, but he was always prepared for the psychological challenges that success can bring.

#1 Have a vision

Gates never let his role at Microsoft define him. He dreams big, and he dreams beyond the immediate. He kept beating competition because at every point, he kept dreaming bigger and beyond and stayed a step ahead of the rest. He has a rich philanthropic life and that also contributes to his success in his primary career. He is more involved in society at large than just as a software supplier, and that makes it easy to follow him as a leader.

#1 Doesn’t hurt to rate yourself a little higher

Did you know that the contract that established Microsoft was proposed in the air? When Bill told Micro Instrumentation and Telemetry Systems (MITS) that he could develop an interpreter for microcomputers, he was overrating himself; he had never done that before. But he was ready to go the extra mile to get it done. Gates and his partner, Allen, worked hard to get the interpreter ready within a few weeks after MITS expressed its interest in their proposal. The result of that effort today is Microsoft.

#1 Be ready to embrace failure

You’ve started your business to be successful, but entrepreneurship comes with its set of challenges. Too much success, for too long, can make anyone complacent and even arrogant about their abilities. Remember that no one is invincible and you should always be prepared for rough patches. Don’t let those bog you down. Instead, get back up, dust yourself and learn from them.

#1 Value time

Gates has said, “no matter how much money you have, you can’t buy more time”. He values every minute of his day and plans his daily activities to ensure the most important tasks never get left undone. He will not attend meetings that don’t really need him. He is immensely successful today, but he knows that he has the same number of hours as everyone else, and has still retained the same value for time as before.

#1 Do your own thing, and be good at it

Every one of us starts with inspiration; some of us even continue to be inspired throughout our careers. However, remember that there is a thin but distinct line between being inspired and trying to replicate what someone else has done. Find your own brand voice and identity to ensure that you stand out among competition.

Gates joined a computer club at 13 and he realised he’d found his calling. He spent hours teaching himself how to program, and with his dedication and foresight turned his passion into a billion-dollar business, something that not many people had believed was possible at that time.

#1 Stop feeling sorry for yourself

“Life is not fair; get used to it.”, Bill Gates. Let’s face it; things are not always going to go your way. And not everything is in your control. You might make a mistake, or the industry might suffer a slowdown. There are very few companies that have grown without facing their share of serious problems. What matters is how you respond to this crisis. Use the negative situation as a learning curve and look for ways to control damage. Perhaps your business can adapt to the situation and come out of it better and stronger.

#1 Care for other people

Bill Gates’ leadership role is not limited to his success alone or that of his team members, but he works hard to ensure that others grow too. His leadership comes through very strongly in his philanthropy and humanitarianism efforts. To sustain his goals, he, along with Melinda Gates, founded the Bill and Melinda Gates Foundation, an organization focused on saving lives and improving global health. He believes that his life’s accomplishments would mean less if his energy and talent cannot be used to improve other lives and society at large.

Conclusion

You might have noticed that all the leadership lessons are marked #1. (Did you just go back to check?) That’s because we believe every single one of these points is a valuable instruction and neither one can be rated better than any other. What do you make of these? Do write to us and tell us which one resonated with you the most.

Creating community in coworking: The importance of networking and collaboration

Inspiring Stories

31 May 2024

Creating community in coworking: The importance of networking and collaboration

  • Posted by Awfis Editorial

Consider this scenario: you pull yourself away from the dull light of your laptop at home, needing human interaction. Instead of deadly silence or fluorescent-lit boredom, you walk into a hive of pulsating activity. Freelancers with computers gather around a whiteboard, and a graphic designer laughs with a content writer.


This, my friend, is the magic of a successful coworking space. It’s more than simply a shared workspace; it’s a hub for connection, collaboration, and the kind of energy that drives both personal and professional development. Here’s the secret ingredient: the coworking environment.

This vibrant network of people from various backgrounds becomes the throbbing core of any outstanding coworking space. It’s where accidental discussions create game-changing ideas, and solopreneurs join a supportive network that serves as a launchpad for aspirations and an infinite source of inspiration. Unlike traditional office cubicles, coworking spaces bring together a diverse range of skills and viewpoints, producing a community co-working environment in which people actively collaborate rather than simply coexist.

Understanding Community in Coworking Spaces:

Imagine a place where the barista recalls your coffee order and a friendly face gives assistance with a technological issue. That is the charm of a vibrant community office space. It’s a location where relationships extend beyond professional courtesy. It’s about being part of a supportive network that serves as a springboard for new ideas and a source of inspiration.


Coworking facilities, by definition, foster a sense of community. Unlike typical offices, where interactions are frequently limited to colleagues, coworking facilities bring together a diverse range of individuals. Freelancers, entrepreneurs, and remote workers all interact, creating a unique ecosystem of skills and perspectives. This group collaborates, not simply coexists.


The Power of Networking in Coworking Spaces

 The importance of networking cannot be emphasised. Coworking spaces offer unprecedented opportunity for making relationships. Networking opportunities abound, whether it’s a casual talk in the common area, participation in organised events, or joining industry-specific interest groups.

These relationships can lead to productive collaborations, strategic partnerships, and even useful mentorship possibilities. Consider a graphic designer interacting with a content writer for a collaborative project, or a seasoned entrepreneur advising a new startup founder. The opportunities for growth within a successful coworking community are limitless.


Fostering Collaboration Among Coworkers


A strong coworking community is not formed overnight. Creating a collaborative environment demands a purposeful effort. Here are some approaches to make this happen. 

Organise Regular Events: Host workshops, networking mixers, or social gatherings to get people together and break the ice. These gatherings allow participants to demonstrate their skills, learn from others, and develop rapport.


Embrace open design: Instead of isolated cubicles, aim for open floor patterns with collaborative workspaces. This creates a more collaborative environment, enabling spontaneous brainstorming and knowledge exchange.


Facilitate Mentorship Programmes: Connect experienced experts with those seeking advice. This not only encourages knowledge transmission, but also generates a sense of community and belonging.


Utilise Online Platforms: Set up an online forum or social media group where members can communicate, share resources, and stay informed about upcoming activities.


Building Strong Relationships in Coworking Communities


Building solid ties within your communal work space is critical to maximising its potential. 


Here are a few tips:


Be approachable: Strike up a conversation with other users, identify yourself, and express genuine interest in their work.


Offer Assistance: Do you have knowledge in a specific field? Offer to help a fellow member who is suffering with a related task. Remember that rising tides raise all boats!


Participate actively: Participate in events, conversations, and workshops. The more engaged you are, the stronger your connections will be.


Be a good listener: People appreciate those who genuinely listen. Pay attention to others’ problems and provide assistance whenever available.

Overcoming Challenges in Community Building


Building a successful coworking community is not without its hurdles. Here are a few hurdles and ways to get through them:


Interest Diversity: Catering to everyone’s interests might be tough when you have such a diverse group. Conduct surveys and collect member input to customise events and projects to their specific requirements.


Shyness or introversion: Not everyone thrives in social situations. Provide a mix of social and solitary work locations, and encourage networking opportunities that cater to various personalities.


Maintaining Momentum: Keeping the community engaged demands a consistent effort. To keep things interesting, plan regular events, launch new projects, and aggressively solicit member feedback.

Conclusion

In today’s increasingly computerised world, human connection is still vital. Coworking spaces provide a unique opportunity to create a thriving community co-working environment that encourages networking and collaboration. Coworking spaces may become hotbeds of invention, professional development, and long-lasting friendships by cultivating a welcoming and collaborative environment. So, instead of isolating yourself through remote work, embrace the power of community. Your neighbourhood coworking space is full of opportunities for collaboration.

5 things that every startup can learn from Shahrukh Khan’s journey

Inspiring Stories

25 August 2021

5 things that every startup can learn from Shahrukh Khan’s journey

  • Posted by awfis

Bollywood and Shahrukh Khan have long been synonymous. From stage plays in his early career to 80 iconic Indian films and global stardom for over more than a decade – the Indian actor, producer and television personality has made waves in every sphere of entertainment. But, every now and then, one will often find him reminiscing his modest roots.

If you’re launching your start –up, then you’re also most likely to find yourself in times of struggle and despair. But guess what? Even the King of Bollywood has been there and done that. Here are some of the most inspiring life lessons coming straight from the Superstar, that will help you “hang in there!”

Lesson 1: Sail away from your comfort zone

“Being brave means being shit scared all the way. But, don’t let your fears become boxes that enclose you. Open them up, feel them and turn them into the greatest courage you are capable of. I promise you, nothing will go wrong. But if you live by your fears, everything that can possibly go wrong will go wrong and you won’t even have done the Funky Chicken.”

Lesson 2: Embrace the madness in you

There’s no such thing as “normal”. That’s just another word for lifeless. Madness is an absolute prerequisite to a happy and successful life. Don’t ever treat your little insanities as if they are aberrations that ought to be hidden. Acknowledge them and use them to define your own way of living the only life you have. All the most beautiful people in the world, the most creative, the ones who led revolutions, who discovered and invented things, did so because they embraced their own idiosyncrasies.”

Lesson 3: Don’t panic ever – just be positive

“When life hits you with all the force of its resplendent rage, the Rolls isn’t going to give you comfort. A friend’s grace will, and if you can’t find resolution as easily as you would like to, don’t panic. Everything evolves as you go along. Even disasters eventually resolve themselves. Give life the space to move at its own pace, pushing it ahead only by way of being kind to yourself when you are hurting or in despair.”

Life lesson 4: Ignore the naysayers

“All the names you give yourself, or those that others call you, are just labels. You are not defined by them, no matter how flattering or uncomplimentary they are. What defines you is your heart. And I say this out of experience because if I was to go by what all I am called on Social Media I would be an old desperate manipulative that has been star who swings both ways while making crap movies, and these are just the good mentions.”

Lesson 5: Stop whining and start moving

“Whatever it is that is pulling you back, it’s not going away unless you stand up and start forging your own path with all your might in the opposite direction. Don’t attach yourself to either sadness or happiness, they’re both going to change with the same certitude. Take them with the ephemeral spirit of their impermanence and manage them with a healthy dose of good humour.”

Here’s what you need first – a office space, co-working space in Qutab, New Delhi or business centre in Koramangala, Bengaluru , where you can kickstart your startup.

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#FAQatAwfis: Who Is My Ideal Target Audience?

Inspiring Stories

25 August 2021

#FAQatAwfis: Who Is My Ideal Target Audience?

  • Posted by awfis

Q1. What is my first step at targeting audiences?

It’s important to create a “why us” value proposition for your product. Be ready to stay in test and refine mode, as you move forward. Many startups and entrepreneurs get so caught up in their business plan and trying to execute it, they forget the most important aspect, which is the market. It is important to move out of your cubicle and office space and go out and discover more.

Q2. Do I start small or look at the bigger market?

You definitely need to start with the smallest group possible. It may seem contradictory to many who are starting a business, but it’s vital to find a group who think what you offer is special. Finding a narrow group with extremely specific demographics or a specifically targeted problem is the key. It’s easy to expand your reach after you gain traction, but it’s always the best to be a big player in the smaller markets.

Q3. Is it vital to keep resources aside for my research or can I just analyze?

The customers who currently buy your product are your audience and it is extremely important to understand who they are, their characteristics and their buying patterns. Analyze the elements that worked with your marketing strategy that connected with your audience. It is obviously important to invest in customer relationship management software for small businesses. Use tools and software to see your customers’ geographic distribution, age range, habits and other valuable insights.

Q4. How important is it to study the role of my competitors in the industry?

If you’re lucky and blessed, you’ve invented a product that the world has never seen. However, it isn’t so easy always. It’s extremely important to check out the competition that sells similar products to yours. Look not only at the big players, but even the upcoming startups. Start thinking of ways that would persuade your customers to switch to your product. Make your product more desirable. Study your competitors and their success and how they connected to their audiences. Along with success, study their failures as well so you can avoid them.

Q5. How to create an audience profile?

The ideal customer profile contains not only demographic but also psychographic information. Demographics describe aspects like gender, age, income, marital status, job status, education levels, etc. Psychographics identify hobbies, behaviors, habits, lifestyle choices, values, and interests. It is also important to give equal weightage to both these factors as they go hand in hand.

Q6. What is my next step?

After you have figured your audience, it is important to envision your product and your company five years into the future. Both your business and your customers need to move forward in the same direction. Be aware of all the technology changes related to your product. And remember, as your business evolves, your customer base will also shift. But once you’ve found your target audience, the transition won’t be too difficult.

Hope this would guide you into finding the ideal audience, for more queries comment below!

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