Connect with us

Entrepreneurs

5 Elon Musk Approved Tips for Entrepreneurs

Published

on

Image Credit: NATHANIEL WOOD FOR WIRED

Elon Musk is quite possibly the poster child of entrepreneurship. With a following that verges almost into a cult-like stature, Musk is notorious for doing things that people say can’t be done. The most futuristic entrepreneur yet, he has (to date) launched a record 64 satellites into orbit, is digging a tunnel deep underground to deal with traffic congestion and plans on setting a human colony on Mars by 2030.

A titan, in his own rights, Elon Musk’s success can be attributed to anything but luck. Here’s what makes Elon stand apart from the rest of the crowd and what enables him to dominate the four major sectors (automobile, space, construction, solar energy):

1. Fixate On A Goal

For Musk, his ultimate goal is to make human beings an interplanetary species. Everything else is just stepping stones to his one significant life’s purpose. As the below snapshot from Elon’s diary (way back in 2006) exhibits, Musk isn’t afraid of putting his all power, resources, focus, and determination into accomplishing his goals.

Here’s the thing about Musk, when he decides to go after a goal, he puts a lot of effort and time into understanding the goal. Once he has set the goal, he decides to learn everything about it that there is to know. Before founding SpaceX, he had no idea how to go about building rockets. So he decided to hire people who actually knew about rockets and read all that there is to know about space travel.

Musk’s visions might be too great but the fact is that he works incredibly hard. He cannot conceive the idea of not achieving what he set out to do and perhaps this kind of optimism is required to truly succeed as he eventually does.

2. Excruciating Effort

Musk: So, as a startup, a car company, it is far more difficult to be successful than if you’re an established, entrenched brand. It is absurd that Tesla is alive. Absurd! Absurd.”

Interviewer: What do you credit that to?

Musk: Excruciating effort.

This excerpt from an interview portrays the levels Elon Musk goes to make his companies stay profitable. For Musk, failure is not a reason to stop doing what he loves. From Tesla being almost bankrupt to the Cybertruck, Musk has taken more risks than the average founder. Call it an unshakeable optimism or sheer foolishness, this tactic seems to have worked well with him.

For Elon Musk failure at the beginning of his ventures are inevitable and is necessary to succeed. Musk demonstrates the ability to take failure at a face value and doesn’t let things like the glass of the Cybertruck shattering in a globally televised event as a particular reason to stop.

For future and present entrepreneurs, Musk’s attitude towards obstacles is the outlook towards life that you should have. It’s extremely necessary to build a thick skin as well as having the grit to progress beyond the failures.

3. Hire The Right People

An alleged copy of Tesla’s “Anti-Handbook Handbook” for new hires was leaked recently. It reflected the high standards that Musk holds up to Tesla’s new hires:

“We want to surround ourselves with people driven to do the right things and act with integrity even when no one is looking,” it states, followed by the warning that, “If this isn’t you, you’ll be more successful somewhere else. We don’t mean to sound harsh; it’s just the truth.”

The main theme behind the handbook seems to be ideal that Musk holds to every employee: as invested in Tesla as Musk is. Tesla hires people not based on their resume but skills. If you are a Tesla employee, you are expected to do everything in your power to give your best performance. That includes directly reaching out to Musk to share any new ideas and knowledge.

While top employees will certainly be with you during your highs, you need dedicated employees to ride out the lows. And that’s what Tesla does perfectly.

4. Have An Unshakeable Work Ethic

Elon Musk’s work ethic is near-impossible to follow. But it is certainly something to take inspiration from. Musk reportedly clocked in a whopping 100 hours a week for 15 years. When a week is particularly hard, he exceeds up to 120 hours a week and is also found sleeping on the factory’s floor. According to Musk:“There are way easier places to work, but nobody ever changed the world on 40 hours a week.”

While this lifestyle is not feasible for everyone, the key factor in this is Musk’s determination to get things done. You don’t need to invest crazy hours at work (unless you are running four companies like Elon Musk) but you do need to do things when they need to be done. It’s about keeping your priorities straight and implementing things that’ll propel your company forward.

5. Look For Problem Areas

People like to actively complain about things. Not Elon Musk. When Musk grew frustrated about the traffic problems that he faced, he started The Boring Company. The Boring Company aims to solve the traffic congestion problem by building a tunnel system.

To become a successful entrepreneur, find problems that need to be solved. Seeking out problems that need to be solved is a great way to find ideas about problems that people actually need some solution to.

While Musk’s incredible work ethic plays a great role in his success, it is his ability to solve difficult problems. In other words, the recipe for success is not in how hard you work but is actually about how you think.

Anjan Pathak is a Co-founder and CTO at Vantage Circle - an Employee Engagement Platform. Anjan is an HR technology enthusiast, very passionate about employee wellness and actively participates in the growth of the corporate culture. He is an avid reader and likes to be updated in the latest know-how of Human Resource.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Entrepreneurs

6 Smart Moves to Grow Your Business and Your Profits

Practical strategies that companies use to guarantee long-term growth while increasing profitability

Published

on

How to grow your business and your profits

In the world of business, achieving development and success is a shared objective. Maximizing earnings is an important part of this journey because it is a vital source of funding for long-term, sustainable business growth. (more…)

Continue Reading

Entrepreneurs

How Entrepreneurs Can Fortify Their Startups Against Fraud

Businesses that neglect workplace fraud detection are leaving themselves open to catastrophic losses

Published

on

employee fraud

Fraud in the workplace is a problem of gigantic proportions. Everything from a little light skimming of the cash register to fraud at a corporate level represents extreme risks that organizations need to guard against. (more…)

Continue Reading

Crypto

How Entrepreneurs Are Revolutionizing Industries With Blockchain

Blockchain technology has become a revolutionary force in the new digital age

Published

on

blockchain for entrepreneurs

Blockchain technology has become a revolutionary force in the new digital age with its decentralized nature, immutability, and enhanced security. It offers a vast sea of possibilities for entrepreneurs across various industries. (more…)

Continue Reading

Entrepreneurs

Lessons We Can All Learn From Martin Luther King Jr.’s Leadership

While reflecting on the magnificent life of Dr. Martin Luther King Jr. I began to uncover what truly made Dr. King such a powerful leader

Published

on

mlk jr

While reflecting on the magnificent life of Dr. Martin Luther King Jr. I began to uncover what truly made Dr. King such a powerful leader. Many revere him for the change he brought forth so it’s no wonder that he was heavily influenced by the man who said, “Be the change you want to see in the world”. He embodied that statement on the deepest level and lead people through one of the most challenging yet historic times in our nation. 

But what was it that made Dr. King’s movement so different than the rest? A quality that transcends ego and unites a people so divided? 

My greatest and most moving discovery while studying the life of Dr. King was the very answer to our question. 

Yes, he had the personality to be a leader, yes he had the bravery to use his voice, yes he evoked REAL change in government and policies, but the manifestation of all those comes from his willingness to lead a movement truly rooted in consciousness. 

A peaceful approach

Dr. King was continuously met with frustration, hate, and even violence by both law enforcement and those who wanted to fight for equality through violence. But the more violent things became, the more he dug his heels into a peaceful approach. Dr. King’s unwavering faith in the power to lead with peace and not violence is undoubtedly why his legacy is such a pillar of our nation still to this day. It is easier to fight.

Hate, anger and separateness from one another are primitive emotions on the emotional scale of well being but It takes awareness, understanding and elevated consciousness to move from a place of peace and understanding. Dr. King knew that we all have access to these states of higher consciousness and that our true power lies in a peaceful approach.

He is an example of the truest essence of our consciousness in this human experience. How to truly love your neighbor as yourself. 

Conscious compassion

Even the strongest opponents are human. Meet hate with love + compassion for the enemy” he said. It wasn’t his resistance to violence that made him a peacemaker, but rather his commitment to keeping compassion and connection to all humanity at the forefront of his movement. A profound understanding that underneath all the hate, violence and discrimination, we are all one. We all come from the same source and we are all human.

A conscious king

A man of his position, his power, his following could have been easily swayed by the human temptations of the ego. But he remained steadfast in his cause to bring forth real change. He understood on the deepest level that we are truly a stronger force in the universe when we move as one unit, with one mind, and one goal. That the separation from one another is the weakness of humanity. That our strength is in those things that unite us all, the qualities that give us life.

His success was in uniting not just the people of America but the consciousness of America.

No matter our gender, or our social class or our color, we all love, and we all seek peace. We all feel joy and happiness, we all want to be met with compassion and understanding. 

His cause went far beyond the need for physical freedom and equal rights. His cause was for freedom of mind, freedom of heart, freedom to be one. 

Lead with love

In his last speech he said, “I may not get there with you, but we AS A PEOPLE will get to the promise land”. And we will. At some point, we will inevitably come back to this oneness that we all come from.

The truth is? We don’t know when our last day is. Our last march. Our last speech. So this Martin Luther King Jr. Day I ask you, what will your legacy be? Are you leading a life founded in the principles of Dr. King’s movement, founded in the higher consciousness of humanity? Every moment is an opportunity to love, to show compassion, to bring forth peace and in the words of Dr. King “The time is always right to do what is right”.

Dr. King said, “I’m here to remind you, we’ve come a longggg way, but there is still work to be done”. 

And I’m here to remind you this Martin Luther King Jr. day in 2024 that we HAVE come a longggg way, but there is still work to be done. 

His fight is our fight. His mind is our mind. His spirit is our spirit. Rooted in the consciousness of all humanity. We are all one. And when we embrace the understanding of that, we will truly say

“Free at Last, Free at Last, Thank God Almighty, We are Free at Last”.

Continue Reading

Trending