6 Entrepreneurial lessons from Elon Musk

6 Entrepreneurial lessons from Elon Musk
Photo by Tesla Fans Schweiz on Unsplash

Elon Musk’s journey to success had lots of ups and downs before building SpaceX and Tesla. He created many different products and tools just like at the age of 10 building a game and selling it for 500$.

Elon also created Zip2(a web software company that helps newspapers to create online city guides)after that x.com(the future of banking which merged with a money transfer company. Which is now known as PayPal)

However, eBay bought PayPal for 1.5 billion dollars. Which results in Elon Musk being left with 180 million dollars in stock.

And the current Net Worth of Elon Musk is $282 billion US dollars which became him the No 1 richest person in the World in 2022.

So who on earth misses the chance not to learn from Elon musk? So I filter out some lessons you can learn from Elon Musk as an entrepreneur.

Top Lessons you can learn from Elon musk

1-Follow your interest and passion

Elon Musk tells “Do what you love” just like him his passion for technology helped him to explore more like space travel, fast internet, sustainable solar energy, and transportation, and each of his interests help him to make his empire.

Furthermore, learning new things help us to see the world with our visionary eyes. and his success shows us that is beneficial for both ourselves and the planet as well. what are the things you are most passionate about?

According to Elon Musk make a separate room in your life for things you enjoy most because you don’t know when something might bring results.

Following your interest with your conscious mind helps you become the best version of yourself.

2-Learn Constantly

Constant learning is the key to success. one habit of reading helps to learn constantly and bettering yourself. Elon musk has loved to read a lot since his childhood.

he believes reading is important for business and also for life success. One of the great moments was: when someone asked Elon musk you don’t have any degree in Aeronautics and still, founded SpaceX.

How did you do this? He said: I used to read a lot

So now you can see reading is such a powerful tool and probably one of the best ways to encourage constant personal growth and prepare you for success in your chosen career.

3-Hire A right Team

Elon Musk once said hiring the wrong person for a job can be a liability and a waste of time.

Therefore, he interviews new employees personally and makes sure to hire the right talent for a job.

Having the right people not only helps you become successful in your professional life and also helps in other parts of your life.

4-Take Criticism as a lesson

people love to hear compliments but most of them are afraid of criticism as well. criticism tells us what’s wrong with us. according to Elon musk Criticism if we take it in a good way helps us to become better by pointing out mistakes.

As an example During the development of the Tesla electric car, he asked automobiles engineers what was wrong with his design instead of what was good about it. He said that helps him to fix his mistakes.

Ask your friend and ensure him that you’re in the right state of mind

it teaches what you’re missing. and also helps you to work on your weaknesses. it can also be the difference between success and absolute failure in life and business.

5-Think Big

Looking at the successful history of Elon Musk.How PayPal helps to digitize money transfers and make it easier for people to send and receive money around the world. by doing this he teaches us to think big and outside the box.

just like when Elon started working on SpaceX. everyone said he is working on something impossible. but now his success speaks for him.

However, now his current goal is to make commercial space travel possible. which not only inspires us to think big but to get success as well.

“The best way to predict the future is to create it __Peter Drucker”

6-First Principal Method

Elon believes you need to start from scratch when you solve a problem. nonetheless set aside the wisdom and Look at the problem with fresh eyes using objective data and clear-headed observation(which is known as the first principal method)

Conclusion

Elon musk is considered the most future-oriented person in the world. With his invention and interest, he is trying to save the world.More importantly what we should admire him about being himself “Do what you love”By following his success lessons we can get success in our fields too. So what did you learn from Elon Musk?

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