The Largest Charity

Javon Garrett

Business 100

The World’s Largest Charity

Bill and Melinda Gates have successfully run the world’s largest charity (The Gates Foundation) since it was founded in 1994. Being the business oriented entrepreneurs they are, they have run this charity as if it were a business, which has resulted in the foundation being as successful as we know it to be today. There are many principles in business that outline what you need to do, in order to be a profitable company. When I look at the different principles, it is pretty obvious that they have followed them in some way, shape or form.

There are 5 main principles I found that show a direct correlation between how the Gateses run their foundation and the steps you need to take to be a prosperous company. They are:

1. Decide what you do.

2. Decide who you serve.

3. Decide what makes you different.

4. Set goals (and go after them).

5. Persevere.

Let’s focus on the two principles: Decide what to do and who to serve. The Gateses realized that there was a need of funds to help sick people, in poor countries, with medicines and vaccinations for diseases that have existing cures. As the charity developed they decided to include a library project and a scholarship program helping students in this country. This, plus the amount of money and resources they had access to, defined their difference from other charities and allowed them to accomplish goals that they set in order to become the foundation they are.

Perseverance: Steady persistence in a course of action, a purpose, a state, etc., especially in spite of difficulties, obstacles, or discouragement. This is the main principle in the progress of any business. If you stop whenever you have any type of difficulty, then you won’t get past the first stages, & there’s no way you can become a successful business.

The difference in this foundation and a company, is that the foundation does not earn a profit. So to measure how well the...