What Can We Learn From Elon Musk?

Elon Musk

Elon Musk has made a name for himself as the 21st century’s foremost entrepreneur, visionary, and inventor. We take a look at 7 key entrepreneurial lessons Elon Musk has taught us.

You might have already heard of Elon Musk and his brand of capitalism, Autopilot, and space exploration. But there are many other lessons we can take from Elon Musk’s entrepreneurial journey, which is in line with the changing nature of the global business landscape.

Here are 7 key lessons from Elon Musk’s entrepreneurial journey:

Build for disruption

It is important to understand how disruption will affect your business. If you are really unsure of how to build your business for disruption, take a look at what Elon Musk is doing with Tesla. He doesn’t just enter a market, he builds the ideal car.

Tesla is different from any other car company because it uses new materials for batteries, it’s electric, and because the car is designed to be autonomous.

Elon Musk did not merely create a new car model – he created a whole new market of what could be considered luxury cars. Tesla created a new business model for the auto industry, a new idea, and a new platform for the future of automotive innovation.

Takeaway: Being at the right place at the right time is key. And being able to make the right bets is equally important.

Always do what’s right

Elon Musk may not always have had the right decisions when it comes to his business decisions, but he didn’t quit. He stands by his decisions, and he sticks to what’s right for him. He knows what is important to him, and he sticks to it. He follows his own set of principles, which is most likely to define him as an entrepreneur and disruptor.

Takeaway: Do what’s right for your business and your customers. If you get it wrong, it can have dire consequences.

It’s OK to fail

If you are trying to do something in an entrepreneurial venture, and you are not willing to take the risk of failing, you are probably not ready to be an entrepreneur. If you want to start something new, there is always the possibility of failure. You may not even know if you can actually build a great business, or if you are able to get it right. But you have to try.

One of the most inspirational things that has ever been said by Elon Musk is: “If you think things can’t fail, they probably will.” This is the most powerful quote we have ever heard from a businessperson. It is this very attitude, a willingness to fail, that separates entrepreneurs from everyone else.

Takeaway: It’s OK to fail. We all will fail. As an entrepreneur, there are no second chances.

Things take time

Elon Musk does not have an MBA. He is not a Harvard graduate. He has just a bachelor’s degree in physics, and a few good ideas.

Despite all the obstacles he faced, he was able to create the company that created the first electric car, SolarCity, and the first smartphone. He has created new industries in a relatively short amount of time.

To do this, he knew that things will take time and that he would need to think of the long-term before he could move forward.

Takeaway: Sometimes things will happen quickly. But often things take time. We don’t always have control of the short term, and sometimes things just take time. But that doesn’t mean that we can’t make things happen. Take control of your time and use it to your advantage.

Always be yourself

Elon Musk may be successful today, but he was never afraid of failure. He kept moving forward. He didn’t feel bad about the failures he experienced, because he knew that there will be more successful things to come. He is proud of himself for being successful because he feels like he has created something new, something revolutionary.

Elon Musk was never afraid of showing who he was. He didn’t hide behind a mask, he exposed himself. He went back to being a schoolboy, and he always embraced the fact that he was a nerd. He is the definition of being yourself. He doesn’t try to be like other people, and he doesn’t try to be like someone else.

Takeaway: You should always be yourself. When you are true to who you are, you are likely to be successful.

Decisions are not hard

Do you want to start a business? Well, how can you do it? It’s not easy. But if you are not willing to make the tough decisions, you won’t make it.

Elon Musk is very decisive. He doesn’t think about the consequences of his actions. He doesn’t feel like he needs to analyze every single decision he makes, because he knows that things will get done.

Takeaway: You can make hard decisions, and not feel bad about it. Make sure you have the resources to do what you are doing. Then follow your intuition. And take action.

There is nothing such as magic

Elon Musk is very transparent. He is constantly communicating with his customers, and he continues to update his followers on the progress of electric cars and Tesla. He has never pretended to have all the answers, and he doesn’t claim to be a genius.

Takeaway: Your transparency will set you apart, and it will attract customers. Be honest about what you are doing, and show the world how it is done. This will create trust, and you will attract customers.

More Posts Like This:

Wisdom Spot