Elon Musk: What The Founder of Tesla Motors, PayPal and SpaceX Does Differently

Elon Musk- What The Founder of Tesla Motors, Paypal and SpaceX Does Differently

Elon Musk is quite a big name in the startup world. He’s not just an entrepreneur, but a serial one. And few people get to call themselves so.

That means that he’s worked hard to turn a big idea into reality, get it out there for people to use, and managed to replicate his success more than once.

You may know him as the face behind Tesla Motors, where he’s the CEO and product architect.

Or the mind behind SpaceX (Space Exploration Technologies – an aerospace manufacturer and space transport services company).

He’s also the co-founder of PayPal.

That makes him a business magnate, engineer, inventor, investor and startup founder. And knowing how hard it is to get to the top of more than one field and how few people have such a massive success, he should be doing some things differently than the mass.

Let’s see what these are and try to follow his advice and use his techniques:

1. “When I was in college, I wanted to be involved in things that would change the world.”

Let’s face it, some people just don’t dare to dream big. And it comes as no surprise that they don’t experience big transformations in their life, don’t set and achieve big goals, and don’t leave a mark in the world.

Because if you’re scared and aren’t sure of your success before you’ve even started, then you’ve already failed.

Elon Musk is not just dreaming big and creating billion dollar products and companies. He’s making changes in the way we think and live, he’s reaching out to the space, he believes that in 30 years the majority of cars in the US will be electric, he wakes up every morning ready to build a completely different world.

That’s one of the things he does differently and one of the key ingredients to the results he gets.

Most people are scared of change, they like living in their comfort zone, they can’t even imagine that space tourism would be possible in the future and feel uncomfortable talking about big goals in front of others.

And that’s what they don’t do differently. Which means they are being a part of the crowd, and will stay there until they are ready to embrace change.

Here’s what Elon Musk says:

“My vision is for a fully reusable rocket transport system between Earth and Mars that is able to re-fuel on Mars – this is very important – so you don’t have to carry the return fuel when you go there.”

“I think we are at the dawn of a new era in commercial space exploration.”

“Land on Mars, a round-trip ticket – half a million dollars. It can be done.”

“The future of humanity is going to bifurcate in two directions: Either it’s going to become multiplanetary, or it’s going to remain confined to one planet and eventually there’s going to be an extinction event.”

2. “Great companies are built on great products.”

Some people are in this with the money in mind, and that’s a wrong approach. Others just want to create a powerful brand and win people’s affection. There are also people who just want to get to the CEO position.

But things like that don’t change the world.

Elon Musk knows that in the end of the day, it’s all about the product. It’s what people use, what they give money for, what they like or don’t like, and what – in the long term – becomes a permanent part of the daily life of a whole generation.

You can’t make money, build a great company or create a recognized brand if you don’t have a remarkable product. And to have that, you need to care about what you’re doing, be passionate about it and solve a problem people share by offering them your product or service.

“Obviously Tesla is about helping solve the consumption of energy in a sustainable manner, but you need the production of energy in a sustainable manner.”

“SpaceX has the potential of saving the U.S. government $1 billion a year. We are opposed to creating an entrenched monopoly with no realistic means for anyone to compete.”

“Brand is just a perception, and perception will match reality over time. Sometimes it will be ahead, other times it will be behind. But brand is simply a collective impression some have about a product.”

3. “Actively seek out and listen to negative feedback.”

Too many people focus on the good about their product. Elon Musk wanted to know what must be changed and improved.

He told his friends: “Don’t tell me what you like, tell me what you don’t like.” And knew that even his enemies could provide useful opinion.

“I think it’s very important to have a feedback loop, where you’re constantly thinking about what you’ve done and how you could be doing it better. I think that’s the single best piece of advice: constantly think about how you could be doing things better and questioning yourself.”

To hear more ideas like that, and learn more about his visionary projects, check out his TED talk in the video below:

Do you think big changes like these are possible in the near future? And – most importantly – do you believe people like Elon Musk are what we need more of in this world? Which one of the industries he’s trying to influence do you consider key?

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5 Convincing Reasons to Start a Business in Your 20s and 30s

5 Convincing Reasons to Start a Business in Your 20s and 30s

Every day we hear about brilliant minds who have made their first million before the age of 25. There are even businessmen who reach success and experience the advantages of self-employment before they turn 21. This influx of young gifted entrepreneurs makes you think there is no room for startupers over a certain age in any industry. But is it really the case?

Seasoned business analytics and researchers say there is no ideal age to start a business. You can be a successful entrepreneur fresh out of high school, but it’s also not uncommon for people in their 40s to finally find their entrepreneurial path. However, 20s and 30s remain the most popular age for starting a business, and that’s what we’ll focus on today.

Why Start a Business in Your 20s and 30s

1. Risk-taking

The importance of taking risks and accepting the outcome of your decision doesn’t need any explanation for entrepreneurs. As a startup founder, you will face risks every day, and this is where a person with more business expertise can encounter their first difficulties.

When someone is over 40, they’ve likely already taken big risks and failed. It means that they’ll be much less inclined to do it again. This is how older businessmen think they avoid complications, but that is also how they miss opportunities.

People in their 20s and 30s normally don’t have that kind of experience. They understandably have qualms about risk-taking. However, in the end, they usually decide to make a risky move, and there is a very good chance the risk will pay off.

Related: 4 Ideas for Side Hustles You Can Start This Weekend

2. Knowledge

Those who launch their business after 40, usually have certain business experiences under their belt. They may have taken part in starting their own business or witnessed the birth of a business of a friend or coworker.

When you’re in your 20s or 30s, you may not have the same real-life knowledge of how businesses begin. Nevertheless, you have something much more important: the knowledge and skills you received at college.

The importance of college education for launching a prospering business is often overlooked. Yet there are essential things you can only learn in college, and that’s exactly the foundation you need for building a viable business.

3. Responsibilities

By the time they are 40, people accumulate a lot of financial responsibilities. Families, mortgages, car payments, and medical expenses not only eat up a large part of your budget but also make you much less flexible.

It’s a popular thought that businessmen in their 20s and 30s have nothing to lose. That may not be completely true, as some people start families when they’re fairly young. However, when you’re under 40, you have more freedom for making choices.

If you’re a forty-something father of three, your business decisions will be dictated by the risks you’re able to take. Young people have fewer things restricting them from making bold decisions and, ultimately, succeeding.

Related: How to Start a Profitable Blog – This step-by-step guide to starting a blog is a must for everyone who wants to start earning online and become self-employed. Having your own blog is the first step to selling products, making money from affiliate marketing, building a name for yourself, getting traffic and monetizing that attention.

4. Resilience

How To Turn Fear into Power and Create Personal Breakthrough

If there is one thing experienced entrepreneurs would like every beginner to know, it’s that launching a business will be a journey filled with ups and downs. If you look at business success stories, you’ll see that each of them comes with their share of failures.

Impressionable young businessmen don’t react great to failures. Their initial reaction can differ, but it always includes disappointment, resentment, and even a desire to quit. If they’re lucky, their support system won’t let them quit. If they’re not, then the days of their startup are numbered.

It’s a different story with people in their late 20s and 30s. They arrive at the starting point of their business with an understanding that failures are bound to happen. It doesn’t mean that they’re completely immune to failures, but they are guaranteed to have a more mature reaction.

5. Technology

Technology is a vital part of launching a startup these days. There are thousands of businesses that only exist online. Even if your business is completely offline, technology can still be a valuable aid in the business development.

People over 40 may understand the importance of using technology in their business. They may even move their business online or take successful steps to foray into the digital world.

However, they will never have the understanding of technology of a 28-year-old.

Today’s 30-year-olds are not only fully familiar with technology – many of them are actually digital natives. These people have spent most of their lives with the digital world being an essential aspect of living. That is why technology-skilled young entrepreneurs are the future of business.

Conclusion

According to those who have a multi-faceted experience in business, starting a business at any age has its challenges. Entrepreneurs that are 20, 30, 40, or 50 years old have their strong suits and weaknesses. However, there are many reasons why the age between 20 and 40 is the golden age for launching a business. Take risks, learn as you go, use your forte, don’t let anything distract you, and soon your name can be part of the world business hall of fame!

About The Author

Christine Acosta is a content manager at App Reviews. She specializes in digital marketing and content creation. Christine is also passionate about startups and business development. She uses her degree from the Florida Institute of Technology to offer sound advice to those who launch their own business.

starting a business at any age has its challenges. Entrepreneurs that are 20, 30, 40, or 50 years old have their strong suits and weaknesses. However, there are many reasons why the age between 20 and 40 is the golden age for launching a business. Check out this post to see what they are: #startabusiness #newbusiness #smallbusiness #bossbabe