5 SECRETS OF ELON MUSK SUCCESS

  Introduction:

                                                 

          Elon Musk born as Elon Reeve Musk on June 28, 1971) is a South African-born Canadian American business magnate, investor,inventor and engineer,even though he don't have an engineering degree(quite amazing!).

solar city panels on house roof

solarcity wordmark

Tesla Roadster

 Musk is the founder, CEO, and CTO of SpaceX; a co-founder, a Series A investor, CEO, and product architect of Tesla Inc.; co-chairman of OpenAI; founder and CEO of Neuralink. He was previously co-founder and chairman of SolarCity; co-founder of Zip2; and founder of X.com, which merged with Confinity and took the name PayPal. As of July 2017, he has an estimated net worth of $16.1 billion, making him the 80th-wealthiest person in the world.In December 2016, Musk was ranked 21st on the Forbes list of The World's Most Powerful People.

He has also introduced us to a high-speed transportation system known as the Hyperloop, and has proposed a VTOL supersonic jet aircraft with electric fan propulsion, known as the Musk electric jet.

Some terms::

VTOL: A vertical take-off and landing

Series A investors:This investor is Aggressive with a high degree of risk tolerance. The higher tolerance opens a broad array of investment opportunities not otherwise recommended for others. A Type A is comfortable investing in managed funds (commodity or hedge) with higher risk profiles. 


HIS SECRETS:::

Elon Musk is no doubt a visionary with the drive to turn his ideas into reality,and there are a lot of lessons that young entrepreneurs can take away from his life.These are the core principles behind his success that  Elon himself had spoken in his interviews and presentations,and let's get started:

     1. First principles -approaching challenges with a Physics mindset...

                                                      

“First principles means you look at the most fundamental truths in a particular arena – the things that really are almost indisputably correct – and you reason up from there to a conclusion. And if you see that that conclusion is at odds with what people generally believe, then you have an opportunity.” - Elon Musk
                     The best way to use first principle thinking is to question a problem or concept until you get to the core idea ( aka no longer ask anymore questions ).


                     2.Listen to negative feedback

                                               

This allows you to see into your own blind spots or what you just didn't think of; to detect if there's any mismatch between your intentions and people's experience with your products; and to make meaningful improvements constantly...

                                 “When friends get a product, [I say to them], “Don’t tell me what you like, tell me what you didn’t like.” Because otherwise your friend is not going to tell you what he doesn’t like. … You really need to sort of coax negative feedback, and you know if someone is your friend or at least not your enemy and they’re giving you negative feedback, then they may be wrong, but it’s coming from a good place. And sometimes even your enemies give you good negative feedback. [View] positive feedback like water off a duck’s back: really under-weight that, and over-weight negative feedback.” - Elon Musk,

3.Have grander vision and intentions to change the world than simply making money and money...

                                                          

“…It’s really kind of like a relevance optimization: What do I think is going to make the biggest difference to the future of humanity – And then I try to see if I can have the value of the output be greater than the cost of the input, which is necessary for any ongoing enterprise. But it’s definitely not from the perspective of this is the best return on investment or anything like that. If one were to rank order return on investment and the amount of effort required, I think Space and Cars would be really low on the list. It is extraordinarily difficult to make an economic return on a Space endeavor or I think on a Car company. It’s certainly possible and thus far actually it has turned out to be a good economic return – but at great difficulty. If I’d done say another Internet company, the effort would have been easy relative to the return that it would have yielded. So it’s just from the standpoint of, am I working on things that I think will have the biggest impact on the future? And then making the economics work is necessary just because if you don’t make the economics work then you’re not going to have any effect on the future.” - Elon Musk

4.Be strive to hire and keep high-performing, high-quality people around you

                                                   

 “There’s certain things that I really believe need to happen, and I was able to convince a lot of great people to join me in trying to solve those problems. And a lot of the time people ascribe to me things where the credit is really due to a much bigger team. … If you can get a group of really talented people together and unite them around a challenge, and have them work together to the best of their abilities, then a company will achieve great things.” - Elon Musk
                       
 While we listen to the news of "big hiring" in different industries on the regular basis, Elon built his team for both SpaceX and Tesla mainly with the fresh talent. And to hire the fresh talent, he never hesitated to contact the young and talented engineers himself directly. While the inexperienced team can do big mistakes because of the lack of experience, they still can produce great results with the energy they have and the dynamic leadership.

But this is only possible when you can lead from the front. According to a colleague of Elon Musk in his early days, when the team used to work for 20 hours a day, Elon used to work for 23 hours.

5. Never self-limit your ability to learn whatever you can learn to accomplish your goals...

                                                        

“[I spent most of my career focusing on software], and then I said, well, didn’t seem like people are really solving the electric car, or the space thing. So I figured I’d give it a try – probably lose the money I put into it, but I thought it was worth giving it a try. That was really the only thing. And then I had to learn how you make hardware. I’d never seen a CNC machine, or laid out carbon fiber – I didn’t know any of these things. But if you read books and talk to experts, you can pick it up pretty quickly. In fact, I think people self-limit their ability to learn. It’s really pretty straightforward: Just read books and talk to people. Particularly books. The data rate of reading is much greater than when somebody’s talking. … The main reason I didn’t go to lectures in college was because the data rate was too slow. [Laughs] I was like, “Why are they reading the textbook to me? This is like a bedtime story or something! Ridiculous!” [Ends laughing.] - Elon Musk

                       Success is never easy. You must learn to absorb the pain and sufferings you encounter on your journey. Today, everyone is chasing Elon Musk and praising him for his success, but there were days when everything was against him except a few friends.

Keep grinding and to be successful,you need to work hard ass off.His personal life was in deep trouble and ended in divorce. His first wife started writing blogs on their painful journey which started creating more problems for Elon. This was the time when Tesla Motors was near bankruptcy and SpaceX had failed to successfully launch its first rocket despite multiple attempts. But Elon absorbed all this pain and suffering and managed to survive, only to become one of the most successful entrepreneurs of his time.

The content has been taken from his youtube interviews,links are below:

https://www.youtube.com/watch?v=L-s_3b5fRd8

https://www.youtube.com/watch?v=K-uLAFb7GOg

https://www.youtube.com/watch?v=hpDHwfXbpfg

Thank u:)