As the founder or co-founder of Tesla, SpaceX, and PayPal, Elon Musk is among the most impactful people in the world.
How many people that would even think about launching a car company to compete against companies like VW and GM which have vast financial resources and industrial firepower.
Never mind his plans for colonizing another planet.
Talk about a big thinker! Now, I know he’s not perfect and makes some stupid mistakes (think he needs to sleep more! – In fact, he currently sleeps in a sleeping bag under his desk at the Tesla factory).
But he’s a true visionary we can all learn from and be inspired by.
So, here they are some of his top 7 success rules.
Rule #1 – Take Risks as Soon in Life as Possible
As you get older, you have more obligations – kids, mortgage etc. – which leaves less time for experimenting.
For this reason, it can be good to take risks earlier in life, when you are footloose and fancy-free – who knows what amazing new experiences and results will come from it.
For example, Elon used his profits from Paypal to go ‘all in’ on developing his new companies – he risked everything.
He was even sleeping on a friends couch for a while – even though he had recently made $165 million from the PayPal sale.
But to him, it was worth it, because he had a vision he was committed to -and he was young enough that he knew he could rebuild again if they failed.
Rule #2 – Love What You Do
‘Do what you love’ is too overused to have any meaning by now. However, loving what you do is not the same thing.
The difference is in the process. Whatever it is, you need to love the process.
There’s a chance that many things will go wrong, and your passion for doing what you do is the best motivator in these situations.
Rule #3 – Don’t Listen to Toxic People
Everyone has haters, and so will you if you reach any sort of success. This is actually a good thing because it means that you must be doing something right.
The important thing is to not listen to them. There are people who will like nothing more than to see you fail. Ignore them, and focus on the people that support you.
After all, at any given time Elon has 100’s – even 1,000’s of people wishing for his company to fail -as they are shorting his stock! But, he keeps driving forward towards his big vision.
Rule #4 – Care about Your Stakeholders, Especially the Customers
By now, pretty much every businessman and aspiring businessman knows the importance of customer satisfaction.
Aside from ensuring satisfaction, you need to connect with them on a level that shows your care for them. This will ensure loyalty, which is essential to business growth.
And, it’s hard to disagree Elon Musk cares about each care he produces for his customers – they are beautiful machines.
Rule #5 – Don’t Chase After the Competition
Following trends is good, but creating them is even better.
Innovation is the driving force behind the most successful companies. Always look to innovate before you make do with something that exists.
It’s clear Elon is leading the way -not following in terms of space travel and Electric cars.
Rule #6 – Have a Feedback Loop
Feedback is essential to growth. This is because no matter how good you are, you can always be better.
Continuous improvement is what will grow your business in the long run. Listen to the stakeholders, and use their feedback as much as you can.
Rule #7 – Look for Problem Solvers
If you want massive success, you can’t do everything by yourself. You need to make sure to surround yourself with the right people.
An essential skill to look is problem-solving.
Ensure that the people around you can help you solve problems, which are bound to come up during the course of your business, especially if you chose the path of an innovator.
How to Partner With the World’s Richest Man?
Elon Musk is just one of the ‘big disrupters’ in the new economy.
Jeff Bezos is another ‘big disrupter’ making it faster, cheaper and easier than ever before to buy and sell new products.
No surprise then he’s now the richest person in the world – and his company value recently surpassed $1 trillion!
If you’d love to learn how you can effectively ‘partner’ with Jeff to build your own successfully Amazon business, attend this free webinar.