Elon Musk Top 9 Rules for Success
1. Has Drive :-
I think most successful people they are successful because they have their internal drive. They have very large internal fire in them, this fire under the belly which they want to do something, they want to create something something great which no ones ever had done before. They don't want to settle in 9-5 jobs but they want greatness. They don't need to watch motivational videos to be motivated but they are self-motivated, no one has high expectation for Elon that Elon Musk himself.
2. Manage Time Wisely:-
Elon Musk manages his time very wisely while you have to when you are running to massive companies and involved with projects of big debt. The good thing is this you and I we have 24 hours a day, seven days a week, 365 days a year and Elon also has 24 hours a day, seven days a week and 365 days a year it all depends on how you invest your time? How do you use that time wisely? How do you use your time efficiently? This all is going to dictate how successful you become.
3. Persevere:-
You see a lot of people they look at Elon Musk and what he had built today but they don't know that at the time both companies were very close to basically going out of business but we see where they are today, but their hardship, the diffculties, the challenges what Elon has to overcome getting money, growing the business, educating the marketplace when everyone thinks your success rate is so high chance of losing everything. It's so high but yet he was persistent because number one he was driven but he knows what it is that he wants to so. So you want to ask yourself how bad do you want it? Are you willing to push for piece of beer regardless in spite of the whole world things that you cannot do it they doubt you, they don't believe in you, but you still keep moving forward and strive and achieve your goals.
4. Innovate:-
You see most people when they think of being innovate they think about I want to create something Niel, I want to create something that no one has ever seen on this planet Earth, I want to create something that's no ones ever done before, I want to create this technology, I want to have this invention well I believe there's a difference between being inventive and innovate. Inventive is you have to be creative which means you are inventing a new technology, a new prodauct, a new service and something that no one's ever done it. However being innovative, I believe is something different, I don't consider myself to be very inventive and their innovative meaning that I could see things neat in the market place and ask myself how I can make that a little bit better? How can I have a new spin or a new way of this market or add a new feature to it so that you can bring it to marketplace. But as we see there are so many product and services but there's this gap between, there is this need that's being fulfilled. It's not a brand new technology but it is a need that's not being fulfilled then we come out with intresting or different and unusual ideas approach to satisfy the needs in this particular space. That's to me, that's being innovative not just inventive.
5. Attract and Motivate Great People:-
Now in the beginning of your career as an entrepreneur, maybe you are doing everything yourself. A business owner needs to do to keep his business running however as you grow really what Elon Musk is saying is it is a group of people having a share the same values having a vision and doing something together but the key is how do you attract good people? Always tell them chances are if they don't have good people within your company then you are lousy leader. It's a lack of leadership, so the question is not so much how do you find good people? The question is how do you create an organization? How do you become a leader that people want to follow? how to create a company that people would want to work for you and work with you as a team that's a very big difference it starts right here not externally, not the marketplace, but right here.
6. Entrepreneurship is not a One-man Endeovpr:-
Entrepreneurship is not a one-man endeavor it's very true because that's one person much leverage could you have with me or dull everything it's very much personal brand driven just like Elon Musk. The success of company it's actually involved a lot of people, involves a lot of talents, it's not just one person although you see the brand but really is the people within the organization that makes the company works. The problem is a lot entrepreneur which prevents them from going to the next level it's that they control freaks meaning that they want to control every aspects of the business. They want to micromanage in stuff empowering their people, inspire the people, giving them the power, giving them the authority and giving them the space to make decisions and to do great things they you want to get a hands in everything which they want micromanage because they want that control but really that comes lack of sel-esteem and lack of trust and if you don't trust your team then it's difficult to you empower them to help you to grow this great company.
7. Have a High Pain Tolerance:-
Many years ago I had a conversation with my mentor and he asked me the question that "What do you think is the number of quality of successful entrepreneurs? " And I would them it is idea it is abe to have a new technology or better pricing or to be smart or you need a good education. I gave him a lot of different answers and he said no! None of those all those are good qualities for none of those is the most important quality of an entrepreneur of a successful entrepreneur. The most important quality of a successful entrepreneur is the ability to endure pain for a long period of time which is what Elon Musk is saying do you have to have high pain tolerance you see someone who is successful like yellow Musk and you see the glory but you don't see the blood sweat and tears working for years without any results , working for years without any praise or recognization. When you read a magazine from a business magazine which we see the people who make it to the cuff of the magazine you don't see the millions that deid, you don't see the millions that lost their all money and the companies all went bankrupt. You don't see that you only see the glamour side of entrepreneurship and that's the problem sometimes with I belive social media, we see the glory but we don't see the guts. Most people they give up too soon, they don't have that tenacity, they don't have high ping tolerance. First few months it's great you have got a great idea as I say all my problems in life started off as a great idea. You have this idea anything gonna do it then all this things just kicked in recession problem technology customers on and on and on, your team like that's what makes an entrepreneur successful having their ping tolerance right be able to deal with stress, be able to deal with anxiety, we would be able to deal with rejection, being able to deal with pain that's a difficult part.
8. You don't need Traditional Education:-
Now formal education doesn't necessary guarantee that you will be successful in life. Formal education is just formal education the challenge with lot of students of being people going through school is that they think that if I have that degree or I have that diploma after MBA then my life is set well. But is that a case? There may not be the case now. I didn't graduate from university, I don't have a degree, I don't have a lot of formal education but I do have a lot self education. I have read a lot of books, I have great mentors in my life. I have learned from a different people so just because if you don't have a formal education it doesn't mean that you will not succeed if any thing now I subscribe to the principal it's what I call in time learning. Meeting you learn something that it's in time there is something you can implement right now. Not going to school, not learning a subject that well how am I gonna implement this, when am I ever gonna use this what I am learning right now, maybe never instead of learning something acquiring skills, acquiring knowledge that you can use right now and get results. More importantly to get feedback as you can go out there and learn more. Learn what is necessary to take your career, to take the business, to take your income to the next level.
9. Have aFeedback Loop:-
The last rule is to have a feedback loop a better way to say this. Listen to your customers, listen to your clients, listen to your prospects. What do they want? What frustrations do they have? Are you listening? Are you understanding about their needs? How can you solve their problems better than anybody else? That's what business is about, business understanding what the marketplace wants have that feedback loop. Nowadays even you co-create your product where you actually work with the customers to create something that is for them this way, they will like it more and they will likely to refer and they will also buy more from you. So there you go those are the top Elon Musk rules for success.
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