The 12 Greatest Entrepreneurs of our Time (part 2 of 6)

Great ideas are hard to come by

Putting them to work is even harder

Meet the founders who turned concepts into companies and changed the face of business

2. Bill Gates

Company: Microsoft

Sales: $69.9 billion

Market Value: $273.5 billion

Employees: 90,000

Advice: Find very smart people and create small teams

Bill Gates is one of the very few extraordinary entrepreneurs who have had the opportunity to change the world twice in one lifetime: First, as the world's most influential geek, he helped usher in the personal computer revolution. Now he is tackling the stubbornly difficult challenges of global health and public education as the world's most generous philanthropist.

If there is a similarity between how he led Microsoft and how he is leading the Bill & Melinda Gates Foundation as its co-chair, it's a focus on hiring very smart people and putting them to work in small teams to solve big issues. "There is no way of getting around that," he has said. "In terms of IQ, you've got to be very elitist in picking the people who deserve to write software."

Once asked what his best business decision was, Gates replied without hesitation that it came down to picking people. "Deciding to go into business with Paul Allen is probably at the top of the list, and subsequently hiring a friend, Steve Ballmer [Gates' successor as CEO at Microsoft]. It's important to have someone who you totally trust, who is totally committed, who shares your vision, yet who has a little bit different set of skills and who also acts as something of a check on you."

Says the 56-year-old Gates about Ballmer: "Some of the ideas you run by him, you know he's going to say, `Hey, wait a minute. Have you thought about this or that?' The benefit of speaking off somebody who's got that kind of brilliance is that it not only makes business more fun, but it really leads to a lot of success."

3. Fred Smith

Company: FedEx

Sales: $39.3 billion

Market Value: $30 billion

Employees: 255,573

Advice: Rely on "first-level" managers

Despite the story that Fred Smith came up with the idea for Federal Express in a term paper for a Yale University class, it was this entrepreneur's experience during the Vietnam War that really allowed Smith to glimpse the future. From 1967 through 1969 he served two tours of duty, first as a rifle platoon leader in the U.S. Marines and later as an air controller.

It was a profoundly formative experience. For one thing, Smith got to see up close the awe-inspiring logistical efforts of the military, effectively mobilizing more than half-a-million troops and millions of tons of supplies. The discipline, training, and leadership experience would stick with the Marine captain. "When people ask me what principles have guided me since I started FedEx Corp. years ago," he says, "my answer often startles them: It's the leadership tenets that I learned in the U.S. Marine Corps during my service in Vietnam."

In the Marine Corps it was not heretical to have ground and air groups together. "When you come ashore in landing boats, you don't have any artillery, so the Marine Corps is the branch of the service that actually invented close air support, dropping ordnance close to you. So I made Federal Express an integrated air-ground system. It had its own pickup and delivery operations on the ground that were integral to the hub-and-spoke air operation."

Smith's leadership handbook draws heavily upon his Marines experience. "We tell our executives that the key to their success is to rely on their first-level managers [the company's counterparts to noncommissioned officers], to set an example themselves, and to praise in public when someone has done a good job. All those are standard operating procedure in the Marines."

Ultimately Smith, 67, gave many small businesses the customer reach that had long been the province of far larger companies. It was a game-changing innovation for FedEx, but also for the broader entrepreneurial economy.

Fuente: CNN Money - FORTUNE