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Paul Allen died this week. As a co-founder of Microsoft, and the one who convinced Gates to join him in developing a new business in the PC industry, he did more than most to build the current era of personal computers . We can draw many lessons from his illustrious career and his partnership with Bill Gates. Here are seven.
Acquire skills to enter an emerging trend
This is one of the main lessons learned since the dawn of the current golden age of entrepreneurship worth billions of dollars. Gaining skills on an emerging trend may have been the most important lesson we can all learn. Allen and Gates tinkered with the emerging technology of personal computers while they attended high school in Seattle. This allowed them to gain expertise enabling them to understand what was happening on the ground and to be the leaders in the troubled world of an emerging industry. The founders of Intel, Apple, Genentech, Google, Amazon, Facebook, etc., are among the artisans of this technology.
Jump on the emerging trend at the right time
When the PC industry began to appear and Altair introduced the first PC kit, Allen convinced Gates that it was time to enter this sector by writing a program for Altair . He wanted to be a pioneer in this emerging industry and convinced his friend Gates to join him in this adventure.
Bootstrap until take off
At first, Allen worked full time and wrote software. Gates and Allen ran the business part-time until they could muster enough momentum to engage full-time. They did not seek angel or venture capital. Gates stayed at Harvard and worked on the projects. They started. They kept control. They avoided dilution. When they discovered that Altair might need help, they wrote the software and sold it to Altair. By booting up to take off and avoiding an early dilution, they rank among the richest entrepreneurs in the universe.
Imitate (or acquire) and improve
When IBM decided to integrate into the PC industry, Gates discovered that they needed an operating system. Allen and Gates have purchased one, upgraded it, licensed it to IBM and have become the center of the world of modern computing. In today's world of clichés, everyone is obsessed with "innovation" or "the first engine". Gates and Allen did not try to be the first to succeed. Instead, Microsoft has become dominant using smart business strategies such as imitating, acquiring and bundling software such as spreadsheet and word processing, not "innovating."
Form an alliance to dominate
Allen and Gates formed an alliance to win. The alliance they formed was with IBM, who was the king of the computer world at the time. They were successful in forming an alliance with IBM, which was looking for an operating system. Their genius was to transfer the operating system license to IBM on a non-exclusive basis. They could make their operating system the center of the PC universe. They have the power of IBM without the luggage.
Re-vision and pivot
Most entrepreneurs do not get the magic formula the first time. They enter, see the disposition of the earth and change their strategy. That's what Allen and Gates did when they saw their golden opportunity, focusing on the operating system and making it the PC standard with IBM's influence.
Do you know and find the right partner if you need it
Allen knew that he loved developing new technologies and that he might not have the killer instinct needed to succeed in an emerging industry. He knew his limits. But he was also aware that his friend Bill Gates was willing and willing to win. So he followed Bill to Boston after high school when Bill went to Harvard. And they started working together on software development. Finding the right partner was the key to his glorious success.
MY TAKE: There are patterns in the way that billion dollar entrepreneurs have succeeded. Just follow them to find your own path to success. I will write more about these billion dollar entrepreneurs and their success stories in my blogs. And you can also find more in Nothing is risky, everything has been won, my last book.
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Paul Allen died this week. As a co-founder of Microsoft, and the one who convinced Gates to join him in developing a new business in the PC industry, he did more than most to build the current era of personal computers . We can draw many lessons from his illustrious career and his partnership with Bill Gates. Here are seven.
Acquire skills to enter an emerging trend
This is one of the main lessons learned since the dawn of the current golden age of entrepreneurship worth billions of dollars. Gaining skills on an emerging trend may have been the most important lesson we can all learn. Allen and Gates tinkered with the emerging technology of personal computers while they attended high school in Seattle. This allowed them to gain expertise enabling them to understand what was happening on the ground and to be the leaders in the troubled world of an emerging industry. The founders of Intel, Apple, Genentech, Google, Amazon, Facebook, etc., are among the artisans of this technology.
Jump on the emerging trend at the right time
When the PC industry began to appear and Altair introduced the first PC kit, Allen convinced Gates that it was time to enter this sector by writing a program for Altair . He wanted to be a pioneer in this emerging industry and convinced his friend Gates to join him in this adventure.
Bootstrap until take off
At first, Allen worked full time and wrote software. Gates and Allen ran the business part-time until they could muster enough momentum to engage full-time. They did not seek angel or venture capital. Gates stayed at Harvard and worked on the projects. They started. They kept control. They avoided dilution. When they discovered that Altair might need help, they wrote the software and sold it to Altair. By booting up to take off and avoiding an early dilution, they rank among the richest entrepreneurs in the universe.
Imitate (or acquire) and improve
When IBM decided to integrate into the PC industry, Gates discovered that they needed an operating system. Allen and Gates have purchased one, upgraded it, licensed it to IBM and have become the center of the world of modern computing. In today's world of clichés, everyone is obsessed with "innovation" or "the first engine". Gates and Allen did not try to be the first to succeed. Instead, Microsoft has become dominant using smart business strategies such as imitating, acquiring and bundling software such as spreadsheet and word processing, not "innovating."
Form an alliance to dominate
Allen and Gates formed an alliance to win. The alliance they formed was with IBM, who was the king of the computer world at the time. They were successful in forming an alliance with IBM, which was looking for an operating system. Their genius was to transfer the operating system license to IBM on a non-exclusive basis. They could make their operating system the center of the PC universe. They have the power of IBM without the luggage.
Re-vision and pivot
Most entrepreneurs do not get the magic formula the first time. They enter, see the disposition of the earth and change their strategy. That's what Allen and Gates did when they saw their golden opportunity, focusing on the operating system and making it the PC standard with IBM's influence.
Do you know and find the right partner if you need it
Allen knew that he loved developing new technologies and that he might not have the killer instinct needed to succeed in an emerging industry. He knew his limits. But he was also aware that his friend Bill Gates was willing and willing to win. So he followed Bill to Boston after high school when Bill went to Harvard. And they started working together on software development. Finding the right partner was the key to his glorious success.
MY TAKE: There are patterns in the way that billion dollar entrepreneurs have succeeded. Just follow them to find your own path to success. I will write more about these billion dollar entrepreneurs and their success stories in my blogs. And you can also find more in Nothing is risky, everything has been won, my last book.
