Advertising
Advertising

8 Things We Can Learn from Elon Musk and Entrepreneurship

8 Things We Can Learn from Elon Musk and Entrepreneurship

Elon Musk was one of the founders of PayPal. Since that successful start-up exit he has been working to revolutionize the way we move, both here on the ground through Tesla, and in space through SpaceX. Here are eight things we can learn from Elon Musk and the spirit of entrepreneurship that drives him:

1. How to manage risk

The rockstar entrepreneur of our time, Mr. Musk has had to put his fortune on the line more than once making him an expert on risk.

On the subject of risk, he says: “Failure is an option here. If things are not failing, you are not innovating enough.”

2. How to prepare for the future

With insight into the technological future through his leadership with SpaceX, Musk has the ability to tell us what’s ahead of us unlike any other entrepreneur of our time.

Advertising

He says: “There’s a fundamental difference, if you look into the future, between a humanity that is a space-faring civilization, that’s out there exploring the stars … compared with one where we are forever confined to Earth until some eventual extinction event.”

3. Have solid foundations for your ideas

Elon Musk has changed the way that we exchange money online. His ideas have proven themselves not just game-changers but revolutionary. His advice is simple …

Elon Musk says of ideas: “[Physics is] a good framework for thinking … Boil things down to their fundamental truths and reason up from there.”

4. How to choose a new hire

The most successful business owners in the world will tell you there is nothing more important than hiring right and firing fast. Because hiring the right people can make or break your company, Musk stresses to look past their talent and rely on your intuition.

Advertising

On hiring, Musk says: “[My biggest mistake is probably] weighing too much on someone’s talent and not someone’s personality. I think it matters whether someone has a good heart.”

5. How to persevere when things get hard

Sometimes the hardest part about being an entrepreneur is picking yourself up when you fall. Odds are, if you have started a business before or plan to in the future, not all of your ideas are going to succeed.

Musk has advice for you if you have doubts about whether you should proceed: “If something is important enough, even if the odds are against you, you should still do it.”

    6. Be ambitious

    The hardest part of any journey is the first step. When it comes to ambition Musk states: “The first step is to establish that something is possible; then probability will occur.”

    Advertising

    7. How to progress with purpose

    After your first step, there’s a long climb to the top of the mountain. Keeping the right foot ahead of you is not hard, it’s how you handle a phone call three months into your project when you have to answer yet another demand from your investors asking for results.

    Of making progress he says: “I came to the conclusion that we should aspire to increase the scope and scale of human consciousness in order to better understand what questions to ask. Really, the only thing that makes sense is to strive for greater collective enlightenment.”

      8. Know what motivates you

      Keeping your eye on the ball is key. Always remaining true to your passions and the change that you would like to see in the world is how leaders are able to separate themselves from the herd.

      Advertising

      On his motive, Musk says: “Going from PayPal, I thought: ‘Well, what are some of the other problems that are likely to most affect the future of humanity?’ Not from the perspective, ‘What’s the best way to make money?'”

       

      In his most recent venture, Zip2, Musk is taking on online education through how-to videos. By using the leadership of this trailblazer you can create something in your industry that is unparalleled. A good example of this is Mr. Checkout, which has created an innovative approach to distribution unlike anything we’ve ever seen before. Apply these lessons to your own company and build something that the world couldn’t imagine.

      Featured photo credit: http://www.businessinsider.com/11-elon-musk-quotes-2013-9 via businessinsider.com

      More by this author

      Joel Goldstein

      Entrepeneur

      How to Build Healthy Competition Between Millennial Employees? 4 Visual Merchandising Tips for the Holidays How To Succeed At Your First Sales Job 5 Signs You’re Not Meant to Be A Salesperson Follow These 4 Tips to Make Your App Millennial-Friendly

      Trending in Featured

      1 How to Motivate Yourself: 13 Simple Ways You Can Try Right Now 2 15 Ways to Cultivate Lifelong Learning for a Sharper Brain 3 How to Overcome Procrastination and Start Doing What Truly Matters 4 10 Key Characteristics of a Highly Successful Entrepreneur 5 Why Do I Have Bad Luck? 2 Simple Things to Change Your Destiny

      Read Next

      Advertising
      Advertising

      Last Updated on October 30, 2018

      How to Motivate Yourself: 13 Simple Ways You Can Try Right Now

      How to Motivate Yourself: 13 Simple Ways You Can Try Right Now

      Who needs Tony Robbins when you can motivate yourself? Overcoming the emotional hurdle to get stuff done when you’d rather sit on the couch isn’t always easy. But unless calling in sick and waking up at noon have no consequences for you, it’s often a must.

      For those of you who never procrastinate, distract yourself or drag your feet when you should be doing something important, well done so far! But for the rest of you, it’s good to have a library of motivational boosters to move along.

      Whether you’re starting a buisiness, trying to los weight or breaking a bad habit, you’ll learn how to motivate yourself with different techniques in this article.

      13 Simple Ways to Motivate Yourself Right Now

      Despite your best efforts, passion, habits and a flow-producing environment can fail. In that case, it’s time to find whatever emotional pump-up you can use to get started:

      1. Go back to “why”

      Focusing on a dull task doesn’t make it any more attractive. Zooming out and asking yourself why you are bothering in the first place will make it more appealing.

      If you can’t figure out why, then there’s a good chance you shouldn’t bother with it in the first place.

      2. Go for five

      Start working for five minutes. Often that little push will be enough to get you going.

      3. Move around

      Get your body moving as you would if you were extremely motivated to do something. This ‘faking it’ approach to motivation may seem silly or crude but it works.

      Advertising

      4. Find the next step

      If it seems impossible to work on a project for you, you can try to focus on the next immediate step.

      Fighting an amorphous blob of work will only cause procrastination. Chunk it up so that it becomes manageable. Learn how to stop procrastinating in this guide.

      5. Find your itch

      What is keeping you from working? Don’t let the itch continue without isolating it and removing the problem.

      Are you unmotivated because you feel overwhelmed, tired, afraid, bored, restless or angry? Maybe it is because you aren’t sure you have time or delegated tasks haven’t been finished yet?

      6. Deconstruct your fears

      I’m sure you don’t have a phobia about getting stuff done. But at the same time, hidden fears or anxieties can keep you from getting real work completed.

      Isolate the unknowns and make yourself confident, you can handle the worst case scenario.

      7. Get a partner

      Find someone who will motivate you when you’re feeling lazy. I have a friend I go to the gym with. Besides spotting weight, having a friend can help motivate you to work hard when you’d normally quit.

      8. Kickstart your day

      Plan out tomorrow. Get up early and place all the important things early in the morning. Building momentum early in the day can usually carry you forward far later.

      Advertising

      Having a morning routine is a good idea for you to stay motivated!

      9. Read books

      Read not just self-help or motivational books but any book that has new ideas. New ideas get your mental gears turning and can build motivation. Here’re more reasons to read every day.

      Learning new ideas puts your brain in motion so it requires less time to speed up to your tasks.

      10. Get the right tools

      Your environment can have a profound effect on your enthusiasm. Computers that are too slow, inefficient applications or a vehicle that breaks down constantly can kill your motivation.

      Building motivation is almost as important as avoiding the traps that can stop it.

      11. Be careful with the small problems

      The worst killer of motivation is facing a seemingly small problem that creates endless frustration.

      Reframe little problems that must be fixed as bigger ones or they will kill any drive you have.

      12. Develop a mantra

      Find a few statements that focus your mind and motivate you. It doesn’t matter whether they are pulled from a tacky motivational poster or just a few words to tell you what to do.

      Advertising

      If you aren’t sure where to start, a good personal mantra is “Do it now!” You can find more here too: 7 Empowering Affirmations That Will Help You Be Mentally Strong

      13. Build on success

      Success creates success. When you’ve just won, it is easy to feel motivated about almost anything. Emotions tend not to be situation specific, so a small win, whether it is a compliment from a colleague or finishing two thirds of your tasks before noon can turn you into a juggernaut.

      There are many ways you can place small successes earlier on to spur motivation later. Structuring your to-do lists, placing straightforward tasks such as exercising early in the day or giving yourself an affirmation can do the trick.

      How to Stay Motivated Forever (Without Motivation Tricks)

      The best way to motivate yourself is to organize your life so you don’t have to. If work is a constant battle for you, perhaps it is time to start thinking about a new job. The idea is that explicit motivational techniques should be a backup, not your regular routine.

      Here are some other things to consider making work flow more naturally:

      Passion

      Do things you have a passion for. We all have to do things we don’t want to. But if life has become a chronic source of dull chores, you’ve got a big problem that needs fixing.

      Not sure what your passion is to get you motivated? This will help you:

      How to Get Motivated and Be Happy Every Day When You Wake Up

      Advertising

      Habits

      You can’t put everything on autopilot. I’ve found putting a few core habits in place creates a structure for the day.

      Waking up at the same time, working at the same times and having a similar productive routine makes it easier to do the next day.

      This guide will be useful for you if you’re looking to build good habits:

      Understand Your Habits to Control Them 100%

      Flow

      Flow is the state where your mind is completely focused on the task at hand. While there are many factors that go into producing this state, having the right challenge level is a big part.

      Find ways to tweak your tasks so they hover in that sweet spot between boredom and maddening frustration.

      Easily distracted and hard to focus? Here’s your solution.

      Final Thoughts

      With all these tips I’ve shared with you, now you know what to do when you’re feeling unmotivated.

      Find your passion and develop a positive mantra so when the next time negativity hits you again, you know how to stay positive and motivated!

      Featured photo credit: Pexels via pexels.com

      Read Next