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…