Business thoughts of Bill Gates

❑ Information flow for a business is what blood circulation is for a body. Through the medium of the information keep your business updated and upgraded.
❑ The key to success is the art of coordinating the basic facts and businesswise changing situations.
❑ The customer is the king of the market and business. Know what he thinks about your product and what possibilities he expects of it? Modify your product accordingly.
❑ How is your product being sold at wholesale and retail levels? Think of ways to better it than your rival.

❑ If your rivals are ahead of you in the business assess your shortcomings and their superiority.
❑ Modify your product to suit the changing tastes of the consumer.
❑ Think of the possibilities of introduction of new products or the innovations.
❑ It is an age of information. Get your business analysed and audited periodically.
❑ Allow information system’s influencing capability to make your product modified to its demand.
❑ Statistics of the daily business are useful in analysis and planning.
❑ Concentrate on work. Don’t depend on luck.
❑ A big industrialist must keep the roles of managers changing to enable them to know the entire works of your enterprise. New duties will keep them fresh and in orientation mode.
❑ Do your business at speed of thought. Laziness is another name of failure.

❑ Useful information charges up the role of the sales manager and business managers are aided in making big plans for the future.
❑ The opportunistic business strategy become sharp and more effective with correct information.
❑ Where the business is conducted by partners they must make sales figures central to their discussions and plan the strategy accordingly.
❑ Where business problems are needed to be solved the statistics of information system can provide the right answers.
❑ In this age of vital information system it is imperative for an entrepreneur to set up paperless office. Having information on finger tips speeds up the work.
❑ An industrialist must encourage the employees who give positive results with suitable bonus.

❑ The hands that do the work must also be given the responsibilities.
❑ Simplify your priorities. Don’t complicate them.
❑ See to it that your managers are adopting the latest systems in your computer operated office. Keep an eye on the latest software.
❑ The revolutionary arrival of Internet has totally changed the scene of international trade. Be part of it.
❑ Understand the importance of change in business. Do not love your product so much as to hate the very idea of change or modification.
❑ An entrepreneur must plan keeping his sights on targets ten years ahead.
❑ While determining the price of your product to the end consumer don’t ignore the middleman. He influences the prices to squeeze out his commission. To make the pricing policy transparent you must have control over middlemen.

❑ Every industrialist must keep in touch with the technical advisor to keep his enterprise modernised.
❑ Internet traders must keep the prices of their product lower and follow the policy of ‘More sales more profits’.
❑ An industrialist must have a customer policy and evolve ways to contact the consumer to know his mind and demands.
❑ Where a business house is conducting its trade through e-services the owner must see to it that his staff and the consumer are well ressed in the e-technology or systems.
❑ The online trading needs to be tested on the table of experience.
❑ Provide detailed digital information about your product on your website.
❑ Often companies depend on others to create their websites. They have no idea if the site is technically suitable or not. So the company must test the usefulness of its website. Remember, you got only one chance to grab the attention of your consumer.
❑ Your website must give a feeling of guiding the consumer honestly and informatively like a good guide.
❑ A successful website must get the benefit of the experiences of its new consumers in developing the capabiities of Internet.
❑ See to it that your website provides the information to your consumers for which they visit your site.
❑ Has your website the facility to enable you to talk to your consumer on telephone in future? It should.

❑ As the use base of personal computers expands the possibilities of websites will increase positively.
❑ Remember that website culture provides a new stage for interaction between producers and the consumers. Every entrepreneur must know the system and functioning of a website.
❑ You must link up your business with the medium of Internet keeping in line with the changed life style and mindset of today.
❑ Concepts are changing. Speed no more means the death but today it is the life force of the business. Be in tune with speed.
❑ To achieve higher growth rate the adoption of ultra modern technology is the speed.
❑ The business of personal computer needs constant impetus through new technological inputs.
❑ In all kinds of business the time is dot. Consumer must get more information in shorter time.

❑ Remember that bad news spread fast but good news travel slowly. The failure of a business impacts the market more forcefully.
❑ Not opting for modern means of distribution means you are trying to go out of business.
❑ The management policy of Microsoft has been to meet through electronic media if personal meeting is not possible.
❑ In this age the concept of e-mail must become an imperative part of your business. Between the oral and e-mail communication the letter is more reliable because is a recorded message.
❑ In the work plan of a CEO the emphasis must be on the point he inspire his subordinates to react very quickly to take needful action. Do not sleep over bad or negaive news.
❑ Take failures as lessons and learn from them.
❑ The guarantee system on a product encourages its sale and attracts customers.
❑ Pay more attention to those consumers who are not satisfied with your product. Such disgruntled buyers can do considerable damage.
❑ Use of latest technology would reveal the negative points of your products. Take corrective measures.
❑ Each company must give detailed technical aspects of its product. Provide useful tips and precautions. It will popularise your product.
❑ Take the consumer into confidence regarding the possible technical flaws of your product to save him from accidental mistakes.
❑ Inform the consumer how he can invoke the guarantee if needed and the process he must go through with his claim.
❑ By whatever means if a consumer approaches you it becomes your duty to address to him through quick response.
❑ Reform your product. Make the dissatisfied customers a means to correct your product.
❑ Evolve a policy that gets the complaints to you without delay and respond quickly by taking positive steps.
❑ You must be in touch with your customer through electronic media to improve your products.
❑ When you have armed your business with electronic systems you must maintain a log of the contact numbers or e-addresses of your consumers. Microsoft reaches its 30,000 customers through such numbers within a week.
❑ For the benefit of your trade know those numbers that respresent your valued customers.
❑ The data with which you wish to prepare your analysis table must be made available to the desired software of your personal computer.
❑ The thought of adding impetus and broadening the base of your sales process must be developed.

❑ With the setting up a venture those objectives must also be determined which you wish to achieve within a given period. It will help you know your rate of progress.
❑ The digital technology keeps all aspects of your business linked up. It increases your reach and expands your business.
❑ For the financial objectives you must have your data in digital form for quick access. Don’t bury yourself in thick ledgers.
❑ The figures on paper are dead shapes but in digital form they become alive as a part of thought process.
❑ Your digital nervous system provides you all the info on your customer.
❑ Involve your subordinates in your brain storming sessions. Make them a part of your business crusade.
❑ The digital technology is a mine of information. You can download the information you require.
❑ You can improve your business and management I.Q. through digital technology.
❑ The digital technology is now an important part of treatment, health services and forensic science.
❑ Information system can be extended to factories or godowns through portable devices and wireless systems.
❑ To be free of difficult problems use digital medium.
❑ You can get latest info on health issues though websites.
❑ In emergency situations relief measure can be better orgaised through electronic systems.
❑ Digital systems free the medico from paper work and they can devote more time to the patients.
❑ Though the linkage of personal computer the education becomes easily reachable.
❑ With the basic school infrastructure education can be imparted to various communities.
❑ Personal computers should be in use in maximum members in classes to educate students through them.