#BusinessEducation Elon Musk’s principles of success Rece | Idea factory
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Elon Musk’s principles of success
Recently Elon Musk has become the richest person on Earth. The stock price of his company Tesla soared a week ago. This resulted in his fortune growth, which has exceeded $185 billion. So, Jeff Bezos had to yield to the space genius, and no wonder why. Elon Musk possesses comprehensive experience and ambitions. These are the business principles he follows.
Money is not the case
This is a key thing about how Musk views business. During one of his interviews Elon admitted that he wasn’t aware of how big his fortune was. The billionaire doesn’t mind the aspiration to wealth, though he is driven by something different.
Musk is not intended to die rich. He is going to spend most of his money on something extraordinary like a base on Mars.
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That very base on Mars explains what exactly Musk considers the key to success. For example, Elon created SpaceX because he was dissatisfied with the insufficient scale of the American space program.
When Musk was trying to develop the company, he was obsessed not with an idea to earn money but to send a person to space. The major motivation of the billionaire is his passion to solve technical tasks.
Don’t fear to set big aims
One of Musk’s companies peculiarities is extremely bold tasks they solve. He is willing to make a revolution in the automobile industry, colonize Mars, build superhighway trains, and it’s not the complete list. Elon is sure the majority of startups are incapable to accomplish large-scale tasks.
Many businessmen prefer to move by small steps. That’s why most companies change their products very slowly and don’t dare to think about something innovative. Though, that’s the key to success — think big.
Don’t be afraid to risk
In order to reach success, you have to be ready for risks. Musk knows it like nobody else. He went through a financial crisis. Elon was in two minds: to keep the money or invest them. He preferred to risk — Musk chose the second option — and it paid off.
Screw criticism
Many people enjoyed Elon’s fails and gloat over them, which used to make him upset. Competitors didn’t take his ambitions seriously, but considered them mere arrogance.
However, Musk kept going and was eager to achieve his goals even more. When SpaceX was being created, no one believed in its success. It happened, though.
Enjoy
Musk is a true workaholic: he works for 120 hours a week on Tesla Model 3. Nevertheless, now he seeks to rest more. Frequently he was right in the center of scandals due to his ambiguous tweets. Elon did a bunch of absurd things: called the pandemic a foolishness, promised to get rid of all his property, and named his son X AE A-12.
However, all this hype didn’t prevent him from becoming the richest person. Anyways, we can’t but admit his geniality whatever hype Musk is going to do next.
Which Musk’s advice do you find the most useful? Text in the comments
