Elon Musk the visionary entrepreneur is the co-founder of Tesla, SpaceX, and as well as PayPal. He is among the most innovative and creative men in the world. Elon has dedicated his whole life to innovation and creating new things by using technology just to benefit the world. Individuals, as well as entrepreneurs, can learn a lot from Elon Musk.
5 LESSONS FOR EVERY ENTREPRENEUR FROM THE LIFE OF ELON MUSK
1. YOU CAN START FROM THE BOTTOM TO REACH THE TOP
Elon Musk started working at the age of 12 by selling a video game. His success story isn't just about his achievements but it actually reflects the tremendous hard work he did to become what he is today. He lived with his brother in an office because they had money to buy either an apartment or an office. They used to sleep on the couch and worked every waking hour. Musk had only one computer on which the game was up during the day and he used to do coding at night. All his efforts paid him back and today he is the richest man in the world. His struggle gives the lesson that every entrepreneur can reach the top by struggling from the bottom.
2. DIFFICULT DECISIONS ARE PART OF BUSINESS
Taking difficult decisions is a part of life and by doing so you grow at a professional as well as personal level. The success story of Elon Musk gives the lesson of taking risks and difficult decisions. At the time Elon Musk was staring SpaceX he said that if he fails at launching the first SpaceX rockets worth $100 million, he would stop the company right there. At the beginning of the process, the first two rockets failed to launch successfully and he lost$60 million. He didn't stop there and launched the third rocket that finally made it to space. His successful rocket launch gave him a contract of $1.6 billion from NASA.
3. YOU CAN CHALLENGE THE STATUS QUO WITH VISION
Elon is amongst the men who are famous for their great work. The best inventions done by Elon are PayPal challenging banking systems, Tesla challenging the car industry, and SpaceX challenging the million-dollar space industry. Elon always advises his followers that never follow the trends blindly; you must challenge and question the status quo. Musk is not concerned with the status quo in his effort of colonizing Mars. He believes in himself and he is hopeful that eventually, the whole world will understand his vision. His dream is not just a dream it can be turned into reality but it needs support to become successful.
4. FAILURE IS THE PART OF THE SUCCESS
A failure is a viable option when you start a business. Elon Musk had anticipated failure and started creating a plan to rise again. In 2003 Elon founded Tesla motors to provide cost-efficient electric cars. Later he found that the first electric car; Roadster, did not cost-efficient at all. The company faced a severe financial crisis and it nearly shut down. At that time he had the investment to save one of his two companies SpaceX or Tesla and both were on the verge of bankruptcy. So, he ended up diving his investment to both, and guess what? He succeeded in saving both of his companies.
5. NEVER LOSE YOUR HUMOR IN THE PROCESS
Despite struggling throughout his life and facing major failures such as the SpaceX crisis, the Tesla crisis, the bankruptcy he faced, and the loans he took from his friends but he remained positive. He did not stop making others happy and makes them laugh through his humor. He never lost his humor during the struggle, it's a lesson for all of us to stay positive no matter what happens.
In conclusion, indeed, Elon Musk is the greatest entrepreneur of this generation and he serves as the best role model for others to follow. Therefore, you should use the above-mentioned lessons to achieve your goals.