SUCCESS STORY OF BILL GATES AND ALLEN PAUL – THE CO-FOUNDERS OF MICROSOFT

Microsoft cofounders Bill Gates and Paul Allen got introduced to each other in the late 1960s at Lakeside School in Seattle when Gates was in the 8th standard while Allen was in the 10th. It was the desire of understanding a computer terminal that bought them together and help them create the worldwide tech giant – Microsoft.

During their time, computer terminals were rare and expensive to use i.e., $40 an hour. To increase their time utilization with computer terminals, they thought of exploiting a bug in the system. This later drew them officially closer by making them want to explore the world of computers for free by identifying certain problems. They continue to work after high school and in 1974, while Gates was studying at Harvard University, they were both computer programmers at a software company – Honeywell.

At 19, Gates dropped out of Harvard and began to work towards developing a platform that would later turn into the world’s biggest technological giant that we all know of – Microsoft. Allen Paul always helped Gates in his activities and coordinated the process of the launch.

Today Microsoft Corporation is an American technology company headquartered in Redmond, Washington and it is the platform for the invention, manufacturing, and licensing of goods and computer services. Before Allen and Gates cofounded Microsoft, they were offered limited computer access in various organizations based on their superior intellect and clarity in computer performance. Both computer geeks are also known to run a small company named Traf-O-Data while they were in high school. Soon after dropping out of college, the launch of Microsoft required quite a preparation. While Gates began improving his programming skills at Harvard’s computer center, Allen moved to Boston as a computer programmer from where he coordinated with Gates to work on full-time projects and plan what needs to be done at first.

In January 1975, Allen made an article about the Altair 8800 microcomputer in Popular Electronics Magazine and showed it to Gates. The latter called MITS- Micro Instrumentation and Telemetry Systems, makers of the Altair, and then both childhood friends were offered services to write a version of the new BASIC programming language for the Altair. After 8 weeks, both demonstrated their program to MITS, and they later agreed to market their product under the name Altair BASIC. Thus, Gates and Allen drew enough inspiration to run their own software company. This company was named Microsoft on 4th April 1975 based in New Mexico with Gates as the first CEO. On August 1977, the company opened its first international office and its branch in Japan was called ASCII Microsoft. In 1979, the company moved to Bellevue, Washington, and two years after got incorporated as Microsoft Inc. gates became its president and Board Chairman while Allen became the Vice-President.

Bot of the American software developer soon turned out to be big business magnates and their success counted not by chance but because of their hard work and numerous failed attempts of trial and error. Their company Traf-O-Data specializes in trafficcounting systems and creating reports for traffic engineers. Soon after working with MITS, the duo started to feel the focus on the products and services of creating the background of Microsoft. Gates never believed to work alone because according to him human brains combined can unleash potential way better than solo. Therefore, he always worked with his childhood friend Allen as a team Gates was dedicated to establishing Microsoft and the combined partnership with Allen made him much more passionate and drew him closer to success.

At 31, Gates was the youngest billionaire in the world. The word Microsoft meant Micro-Soft as in microprocessors and software which first began its journey to produce software for the Altair 8800, an early personal computer. By end of 1978, the sales of Microsoft exceeded $1 million and then soon the company went on to license its MS-DOS OS to IBM for its first personal computer, which debuted in 1981. It is real awe to think how two college drop-outs and mentally mad computer geeks founded the world’s largest technological giant platform which is known to all from every corner.

Rubystone Hospitality: Leading the Path of India’s Hospitality Industry with Flying Colors

Hospitality is an industry that is driven by experiences. We also intricately acknowledge that India is a country where hospitality has an imperative contribution to the economy. People always strive for uncompromised experiences when it comes to travel and staycation. In such a scenario we need leaders who have an innovative approach to reform the entire chain of hotels and resorts. For all good reasons, Rubystone Hospitality (Hotels and Resorts) has introduced the muchneeded pivotal breakthrough!

Rubystone Hospitality is a hotel management-based company in Noida with a zeal to cater avant-garde management services and advisories to hotels, resorts, and restaurants of all scales.

In a tete-a-tete with our editorial team, Mr. Sandeep Singh- Founder of Rubystone Hospitality talked about the company and his years-long journey of entrepreneurship. He also highlighted the differentiating factors that make his company a leader in its segment, be it its workforce or its work ethics. Leaving us startled was his vision to serve people and the company’s mission to offer turnkey hospitality and management services. What we have woven into words are the insights from the conversation we had with Mr. Sandeep Singh. We are sure that our readers will love to go through this fascinating draft and learn valuable lessons from it.

Know About Rubystone Hospitality

Established with an aim to reposition hotels and resorts to help them stay ahead of their competitors, Rubystone knew that independent hotels and innovative lodging concepts have an extra edge over the formulaic chain franchise of branded hotels. By serving customers with the best of the best services and leveraging their positive reviews to reach out to the global market, there was a huge need for strategies and initiatives that enhanced the individuality of these hotels.

As a leading Boutique Hotel Management Company, Rubystone is building a stronger portfolio in important destinations for hotels and resorts. The team is up for grabbing opportunities for rock-bottom developments, accentuating the value of existing assets, and reevaluating the position of not-so-prominent properties. Their work ethics are driven by integrity, commitment, transparency, and professionalism. All of their hotels are an emblem of leisure, comfort, and topnotch business traveler facilities. They meticulously introduce technology and innovation to enhance their client’s experience.

Inspiring the Workforce

Mr. Sandeep elaborated that his company ensures the sustainability of employees and motivates them to perform as per their potential. For the same, various trainings are provided to enhance their future capabilities towards larger responsibilities. Rubystone also curates a flexible and amicable working environment for a smooth flow of communication between the employees and other higher authorities. Permissible liberties are also an important aspect of Rubystone’s work culture to convert their employees to assets.

“We firmly believe that the professional growth of the workforce is a fundamental aspect of an organization’s growth. As an experience-driven brand, not only do we understand the employee closely but also firmly believe that once they enter the office, we have to provide them with a happy, healthy, and contended working environment. We encourage our employees to learn from their mistakes. Such serene work culture ensures that the employees focus on their job profile and work with maximum dedication. We truly acknowledge that employees’ state of mind directly affects their interest and apprehension of working. So our company pays attention to conducting time-to-time programs where the employees are recognized in the presence of their families. It also brings an immense amount of pride and pleasure to the families of the employees. They also feel like an integral part of the company.” says Mr. Sandeep. This initiative has brought a tremendous effect on the growth, development, and longer-term sustainability of both the employees and Rubystone. This also marks Rubystone’s overall productivity and growthoriented management style.

“Internal promotions, improved responsibility levels, a closely coordinated work environment, and creating platforms for the employees to perform, have become the ultimate tools for employee growth at Rubystone. Such initiatives evoke a sense of achievement and motivate the employees to outshine their potential. Many other team efforts and career-building exercises are also conducted within Rubystone.”

When asked about some outdoor engagement activities conducted with the employees, Mr. Sandeep replied, “Yes Rubystone ensures recreation, social outings with family, and team building exercises periodically, without having any effect on the company’s work schedule. The only way to integrate the workforce is by putting trust in every individual and ensuring their well-being in all aspects. In regards to the work-life balance, as stated earlier, our working atmosphere is flexible, to a certain extent it is a hybrid. It is profoundly convenient for our employees to maintain the work-life balance.” Employee engagement programs conducted nationally and internationally make Rubystone a prolific company to work with.

Aspirations for Future

The company plans to create a robust market position and recognition in terms of its business excellence and alliances. The plan is to continue to acquire existing properties in demanding markets and work for their advancement with strategic partnerships.

Words of Wisdom

“Failures we feel are a backbone for every success whether individually or as an organization. Until we try and learn from experiences, we can never become perfect. That’s the philosophy the company holds on to. So, instead of highlighting the obligations of behaviors, the management takes it as a learning ladder. Failures in our organization are taken as an opportunity to learn and grow out of them. Don’t be in a hurry to witness the success you anticipated. Introspect yourself and make realistic promises to your self-belief. Create a model that works within the framework of your potential.” believes Mr. Sandeep.

How to Get a Bank Loan for Your Small Business

Unless your company is self-funded or supported by investors, you will need a loan to grow or start it. Company loans from banks can assist pay most expenditures, but many business owners are denied. When applying for a bank loan for your company, keep the following facts and advice in mind.

Choosing a business bank loan

Traditional bank business loans are sought after by small enterprises because of the inbuilt safety nets. Unlike unconventional and online lenders, banks and their products/services are backed by the federal government. Bank loans have cheaper rates than internet loans.

Small company owners have various funding alternatives. Each loan has terms, limitations, and other variables that can make one better for your financial circumstances and repayment capacity than others. After determining that your company needs a short-term loan, you must decide what kind to get. Not doing so may cost a small company time, money, and frustration.

Small business loans

When considering company loans, consider the following:

1. Term loan

It works similarly to a personal loan in specific ways. Businesses seek this credit for significant expenditures, renovations, acquisitions, and other purposes. It has a set interest rate and a quarterly or monthly payment schedule, depending on the arrangement. Intermediate-term loans last three years or less, while long-term loans last 10 years or more.

2. Line of credit

Business credit lines are similar to credit cards. Your company can borrow money from the bank if authorized. You only pay interest on the debt you’ve utilized. This option allows additional spending freedom if you keep it under your credit limit. In addition, it is suitable for small firms with consistent revenue, good credit, and, in certain situations, collateral.

3. Commercial Finance

Commercial mortgages are for businesses trying to grow. Like house mortgages, business mortgages are backed by liens on commercial property. Imagine you have no or bad credit. A bank might demand the company principals or owner to personally guarantee the loan, committing to pay if the firm fails. Commercial mortgages are often shorter than household loans.

4. Lease equipment

Equipment leases stretch the expense of a significant purchase over time, like vehicle leasing. Most lessors don’t need a hefty down payment on a lease. You can pay the balance or return the equipment of its worth depending on the lease’s length and the item’s appreciation. Though monthly payments would be cheaper than buying equipment outright, interest will accumulate to the cost.

5. Credit-letter

A letter of credit guarantees a vendor will be paid on time. The guarantee covers the seller or buyer. In the former, the bank promises to compensate the seller if the buyer fails to make payments. This letter’s funds are occasionally escrowed from the buyer. Buyer protection is a seller penalty, like a refund. Banks provide these letters to firms with good credit or collateral.

6. Loan without collateral

Unsecured business loans don’t demand collateral. Since the lender is friendlier to the borrower than the bank, it charges a much higher interest rate. An internet lender or alternative lender most often issues this loan. At the same time, conventional banks have offered unsecured loans to current clients. Unsecured business loans are hard to get without collateral. To reduce the lender’s risk, unsecured loans are usually short-term.

How do banks evaluate company loan applications?

Keep a bank’s standards in mind while applying for a business loan. Each bank offers loan application forms. Some colleges only accept paper applications. The bank may have a preferred application procedure depending on the loan size and kind. Consider how a bank wants to receive a loan application and its approval requirements. Before applying, verify the following:

1. Rating

High credit suggests you’re responsible for the debt. A decent credit score affects your application, interest rate, and loan term duration.

2.

Loan purposes

Som loans have use restrictions. A lease is for equipment, whereas a mortgage is for real estate.

3. Documentation

Some lenders may make an exception if you put up valuable things (typically property) as collateral. The bank may sell your collateral to recuperate its losses if you don’t satisfy repayment terms.

4.

Banks desire stable revenues. Traditional lenders may not approve your loan without a steady cash flow. Many lenders need a minimum income before considering this.

5.

Before issuing a loan, the bank may request a cash flow history. You’ll also need well-researched financial estimates.

6.

Any form of lender may request a business plan. There are several resources to assist you in writing a business strategy.

7.

Working capital is the company’s cash on hand for operational expenses. Without operating money, you’re a high-risk investment.

Get a business loan

Once you’ve chosen the right loan and examined what the bank requires, you may apply. Startups seeking loans must have a business strategy. If you don’t have a plan, you may utilize free resources like local SBDCs, SCORE, and EDCs. If you require a one-time purchase loan or another financing, have estimates ready to present to the loan officer.