Companies Get Rich From Great Minds. Here’s What They Do

Bill Gates included Infectious Generosity by Chris Anderson in his summer 2024 reading list. One chapter talks about how today’s companies make money by focusing on things you can’t touch, like software, services, and knowledge, instead of physical resources.

Despite that, companies often ignore the importance of generosity, which is a key to real growth. Instead of investing in their people, many companies ignore this and then wonder why they aren’t making progress. The truth is, they’re missing one big thing: talented people who want to stay and make a difference. They are the great minds.

Generous companies put people first. They give them chances to grow, the support they need, and a sense of purpose. This creates a place where ideas can thrive and talented people want to stick around.

So, how do you spot the people with great minds?

These people often have a wide range of interests and knowledge bases. If they can discuss on a wide range of topic, then they are likely have a high curiosity mind. They are more likely to propose new ideas. Pay attention to how they see problems and how they approach. Often, they will offer a unique way to solve a problem.

Not only that, observe whether they are willing to consider different viewpoints other than the solutions they offered. If they are willing to listen or change their opinions with a better option, then they are open-minded and are willing to change. However, if the other option is not aligned with their values, see how respectful they are in having different opinions while remaining open to discussing it.

Bill Gates finds fulfillment in promoting generosity

Bill Gates first met Chris Anderson at a TED conference and quickly bonded over their shared passion for innovation and its potential to create positive change. When Chris told Bill about his new book, Infectious Generosity, which explores how the internet can amplify acts of kindness, Gates was immediately intrigued.

“I was especially intrigued by Chris’s proposal of a ‘universal giving pledge,’ where everyone commits to donating 10 percent of their income or 2.5 percent of their wealth annually… For me, that has meant working to save and improve lives through the Gates Foundation—which is the most meaningful work of my life,” he mentioned in his personal blog.

While he is deeply inspired by the book, he is also practicing the act of generosity through his philanthropic efforts. His own work through the Bill & Melinda Gates Foundation encourages billionaires to commit the majority of their wealth to philanthropy, either during their lifetimes or through their wills.

Profits are not the only main focus, but generosity is

It might sound familiar and counterintuitive but focusing not only for profits is how companies gain the most profits. The book highlights how Patagonia, an outdoor clothing company, shows that profits aren’t the only important thing for a business. They choose to pay extra for organic cotton and donate 1% or 10% of their sales or profits to help the environment.

Not only that, they created generous policies for their employees, like fair wages and benefits. This generosity makes it very clear that even generations like Millennials and Gen Z, known for their support for the environment, loved that brand a lot.

Similarly, Chobani, an American food company specializing in strained yogurt, has embraced generosity as a core value. Its founder, Hamdi Ulukaya, prioritizes hiring people from struggling communities and has given stock worth about $150,000 to each employee.

This approach has built strong loyalty among workers and attracted support from customers, helping Chobani become the top Greek yogurt brand in the U.S., with annual sales over $1.4 billion. Ulukaya’s philosophy is that treating people well and supporting communities leads to more success and new ideas.

Conclusions

Bill Gates and companies like Patagonia and Chobani show us that being generous can lead to greater success than just focusing on profits. When businesses invest in their employees and create a supportive environment, they attract talented people who can bring fresh ideas. These great minds are curious and open to different viewpoints, which helps drive innovation. Gates’ work in philanthropy highlights that real success is about making a positive difference in the world. By prioritizing generosity, companies not only boost their own growth but also help create a kinder and more collaborative society. This proves that generosity can be a key ingredient for lasting success.