Elon Musk’s 10 Secrets to Success

Elon Musk’s 10 Secrets to Success

Elon Musk is an engineer and technology entrepreneur. With an estimated net worth of $250.4billion, he is one of the richest people in the world 10 richest people in the world!)

He is one of the greatest innovators the world has ever seen. What else can you say about the man who co-founded companies like PayPal, founded Tesla and SpaceX.

Whether you want to be an innovative entrepreneur or an employee, there’s plenty you can learn from him.

Here are Elon’s top 10 secrets to success:

1.Hard work.

Musk’s work ethic is unmatched. He often works between 80 and 100 hours a week. The extra work greatly increases your chances of success and allows you to speed things up and go faster.

Work hard. I mean, if you work 80 to 100 hours every week, it dramatically increases your chances of success. If other people work 40 hours a week and you work 100 hours a week, if you work on the same thing, you will do in 4 months what it would take them a year to succeed.

2. Take risks early

Elon recommends taking risks and giving your all to your dreams while you’re still young.

As you get older your obligations increase, so I encourage you to take risks now, to do something bold, you won’t regret it.

3. Be different.

Elon Musk won 180 million dollars for the sale of Paypal (sale on ebay). Any normal person would spend their money on big houses, fancy cars, but not Elon Musk.

He invested $100 million in SpaceX, $70 million in Tesla and another 10 in SolarCity.

People told him he was crazy for doing that. But he didn’t listen to any of them. He followed his plans, and it paid off.

4. Don’t let the fear of failure stop you

Musk commented in an interview that he originally thought Tesla would fail. That didn’t stop him from starting his business because he thought it was worth the risk. Today he was asked why he started a business that wouldn’t work, to which he replied:

If something is important enough to you, you should try, even if the most likely outcome is failure.

If you care about something, you have to go all out to make your dreams come true. Elon wanted to show the world that electric cars aren’t just slow and ugly, so he tried to achieve his goal knowing full well that it might fail.

5. Never stop learning.

There is no end to personal education. In this world of unlimited knowledge, there is always something you can learn.

You don’t know what you don’t know. You realize that there is always something else.

Elon is a voracious reader. He read the entire Encyclopaedia Britannica as a child. Even today, he spends many hours of his time reading. Reading books can have a huge impact on our lives. It will fill us with knowledge and wisdom. The more you learn, the more you earn.

6. Create a feedback loop.

Perfection is a myth. There is always something to improve. Keep thinking of ways to improve on what you’ve done.

It’s very important to have a feedback loop, where you always think about what you did and how you could do better. I think that’s the best advice: constantly think about how you could do things better and question yourself.

7. Invest in product improvement, not advertising.

Elon thinks that instead of spending money on advertising, it should be better spent on improving the product. Spending money to provide greater product value is money well spent.

8. See complaints as opportunities.

Everyone likes to complain. But not Elon Musk. He thinks the complaints indicate there is a problem that needs to be fixed. If you analyze these complaints carefully, they could be the gateway to great innovative ideas.

“Complaints are a sign that there is a problem that needs to be fixed,” said Elon Musk. “Paying attention to complaints is a great way to find innovative ideas that people need.”

Most people complain about road traffic. But instead of moaning, Musk looked for a solution. This led to the creation of The Boring Company, which seeks to reduce traffic by creating a system of tunnels.

9. Create new trends.

The most successful company is the one that focuses on creating new innovations. They do not try to compete with existing companies.

Don’t just follow the trend.

Focus on what makes you unique instead of chasing the conformity of others.

10. Focus on creating value.

You don’t have to completely change the world to “do good”. But you can still try to provide real value.

If you’re doing something that’s of significant value to people… and frankly even if it’s a small thing like a little game or improving photo sharing or whatever, if it’s got a small amount of value for a large number of people.

Things don’t have to change the world, just be good or useful.

Look for a positive purpose in your work. No matter how small, it will help you be more motivated.

Whatever your goals in life, adopting the habits and mindset of Elon Musk will help you achieve it. The extra effort you put in today will have a big impact tomorrow.

Source: BiographyTips