Elon musk is known as a man with unmovable principles, and a never giving up attitude. His company SpaceX has revealed an ambitious vision, for a manned mission to mars, that will take humans to the red planet in just six years. He shares many ideas and principles more frequently than others.
Here is the top ten rules, that helped him to become one of the most influential persons of our time.
1. Never Give Up.
Elon faced two continuous failures in an attempt to send rockets to space, which were worth $90 Million in total, But elon musk does not give up, and continued with the third successful attempt. He says "No, I don’t ever give up, I’d have to be dead, or completely incapacitated.”
Today his company is the largest private producer of rocket engines in the world, It has received contracts from NASA, to develop US astronaut transport capability.
2. Do What You Love, Love What You Do.
If a person really likes what he is doing, even though he suffers failures and setbacks, he will not be easily discouraged.
Whatever area that you get into, even if you are the best of the best, there are chances of failures, It is really important that you like what you are doing, because the thoughts will keep you busy, even if you are not working. If you don’t like it, than I think you will not be able to make it.
3. Don’t Listen to the Littleman.
Elon recommends that, when people have set their minds into doing something great, they should avoid listening to those who will try to stop them, Some of their friends may try to discourage them out of their own fears, In this case, it is best to stay away from these negative influences, that will try to hold people down, or minimize their chances of doing great things.
4. Take a Risk.
Those who have just graduated from college, or those who are just starting with their careers have the best opportunity, simply because, they may only need to worry about themselves. As they grow older, and have a family, they now have to consider other people that may be affected by their decisions.
5. Do Something Important.
When Elon invested in Tesla, he was not entirely sure that the company will succeed. However, he believed in the vision of the founders, that electric cars do not have to be unattractive. He also got involved in the design of the cars himselves, Because he believed in the idea, and he should at least give it a try, even though the most likely outcome is a failure at begining.
6. Focus on Signal over Noise.
A lot of companies get confused and focus on things, which really do not make the product better.
He believes that, companies should be able to distinguish on, which efforts directly contribute to the betterment of a product, and which efforts that do not work. Once people have identified which ones are contributing to a better product, they should focus on that. Efforts that do not necessarily make a product better is considered noise, and that should be stopped.
Elon says “At Tesla, we never spent any money on advertising, We put all the money into R and D, manufacturing and design to try to make the car as good as possible."
7. Look for Problem Solvers.
Anyone who has struggled hard with the problem will know the inside and out of it completely. While interviewing someone for the company, one should always look for problem solvers, who have faced problems and has come up with a solution themselves.
8. Attract Great People.
It is a mistake to hire huge numbers of people to get a complicated job done, A company is a group of people gathered to create a product or service, Depending upon how talented and hardworking that group is, and the degree to which they are focused cohesively in a good direction, that will determine the success of the company. So do everything you can to gather great people if you’re creating a company.
9. Have a Great Product.
The market is full of different services and products, if you want to start a business, your product has to be much better than what your competitors have.
If you are entering anything where there is an existing marketplace against large entrenched competitors, then your product or service needs to be much better than theirs.
10. Work Super Hard.
If you do the simple math, if somebody else is working 50 hours, and you are working 100 hours, you will get twice as much done in the course of a year as the other company.
In starting a company, Elon warns that people should be ready to work super hard. From his own experience, he describes super hard as working hard every waking hour, every day, seven days a week for a time, especially when he was starting.
He made sacrifices against his comfortable living, in order to put resources in aid of his business goals. He believes that, the person who worked double hard, will get twice the work done in the end.
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