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 Become an Early Riser and Stay Energetic 2 The Art of Humble Confidence 3 How to Get Promoted When You Feel Stuck in Your Current Position 4 8 Steps to Continuous Self Motivation Even During the Difficult Times 5 The Pros and Cons of Working from Home

      Read Next

      Advertising
      Advertising
      Advertising

      Last Updated on October 14, 2020

      How to Become an Early Riser and Stay Energetic

      How to Become an Early Riser and Stay Energetic

      When you become an early riser, you’ll experience a lot of benefits, including feeling more energized and having more time to do what you want.

      If you’d like to join the ranks of those waking up with the sun, there are some things you should know before you run off to set your alarm.

      What exactly do you need to do to learn how to become an early riser?

      Here are 5 tips I’ve discovered to be most helpful in making the transition from erratic sleeper or night owl to early morning wizard.

      1. Choose to Get up Before You Go to Sleep

      You’re not very good at making decisions when you’ve just woken up. You were in the middle of a dream in which [insert celebrity crush of choice here] is serving you breakfast in bed, only to be rudely awakened by the harsh tones of your alarm clock.

      You’re frustrated, confused, and surprised. This is not the time to be making decisions about whether or not you should stay in bed! And yet, most of us leave the first decision of our day to be made in a blur of partial wakefulness.

      No more!

      Advertising

      If you want to learn how to be an early riser, try making your decision to rise at a specific time before you go to sleep the night before. This frees you from making the decision in the morning when you’ve just woken up. Instead of making a decision, you only have to follow through on your decision from the night before.

      Easier said than done? Of course. But only for the first few times. Eventually, your need for raw willpower to get out of bed will diminish, and you’ll be the proud parent of a new habit!

      Steve Pavlina suggests you practice getting out of bed during the day[1] to get a few of the “practice sessions” out of the way without the early morning fog in your head.

      2. Have a Plan for Your Extra Time

      Let’s say you’ve actually made it out of bed 2 hours before you normally would. Now what? What are you going to do with all this time you’ve discovered in your day?

      If you don’t have something planned to do with your extra time, you risk falling for the temptation of a “morning nap” that wipes out all the work you put into getting up.

      To become an early riser, plan a great morning routine.

        Before you fall asleep, make a quick note of what you’d like to get done during your extra hours the following day. You could read a book, clean the garage, or write up that work report you’ve been putting off. Make a plan for when you wake up earlier, and you’ll do more than protect yourself from backsliding into bed.

        Advertising

        You’ll get things done, and those results will fuel your desire to build rising early into a habit!

        3. Make Rising Early a Social Activity

        Your internet or social media buddies just don’t have enough pull to make your new habit stick in the long term. The same cannot be said for the people you spend time with as part of your early morning routine.

        Sure, you could choose to read blogs for two hours every morning, but wouldn’t it be great to join an early breakfast club, running group, or play chess in the park at 5am?

        The more people you get involved in making your new habit a daily part of your life, the easier it’ll be to succeed.

        Consider finding an accountability partner who is also interested in becoming an early riser. Perhaps it’s a neighbor who you plan to go for a run with at 6 am. Or it could be your husband or wife, and you decide to get up earlier to spend more time together before the kids wake up.

        Learn more about finding the perfect accountability partner in this article.

        4. Don’t Use an Alarm That Makes You Angry

        If we’re all wired differently, why do we all insist on torturing ourselves with the same sort of alarm each morning?

        Advertising

        I spent years trying to wake up before my alarm went off so I wouldn’t have to hear it. I got pretty good, too. Then, I started using a cellphone as my alarm clock and quickly realized that different ring tones irritated me less but worked just as well to wake me up. I now use the ringtone alarm as a back-up for my bedside lamp, which I’ve plugged in to a timer.

        When the bright light doesn’t work, the cellphone picks up the slack, and I wake up on time. The lesson learned? Experiment a bit and see what works best for you as you try to become an early riser.

        Light, sound, smells, temperature, or even some contraption that dumps water on you might be more pleasant than your old alarm clock. Give something new a try!

        One final thing you can do is put your alarm at least several feet from your bed. If it’s within arm’s reach, you’ll be tempted to hit the snooze button. However, if you have to get out of bed to turn it off, you’ll be more likely to resist going back to sleep.

        5. Get Your Blood Flowing Right After Waking

        If you don’t have a neighbor you can pick fights with at 5 am, you’ll have to settle with a more mundane exercise. It doesn’t take much to get your blood flowing and chase the sleep from your head.

        Just pick something you don’t mind doing and go through the motions until your heart rate is up. Jumping rope, push-ups, crunches, or a few minutes of yoga are typically enough to do the trick. Here are 10 Simple Morning Exercises That Will Make You Feel Great All Day. (Just don’t do anything your doctor hasn’t approved.)

        If you’re going to go for a full-on morning workout, remember to give your body at least 15 minutes to get moving before you start[2]. Have a glass of water, stretch a bit, and then get into your workout.

        Advertising

        If you live in a beautiful part of the world like me, you might want to use a bit of your early morning to go for a walk and enjoy the beauty of the world around you.

        If you have a coffee shop open within walking distance, dragging yourself out of bed for a cup of coffee to savor on your walk home as the world wakes around you is a wonderful experience. Try it, and you’ll enjoy becoming an early riser!

        Final Thoughts

        Creating a new habit is always a challenge, especially if that habit is forcing you out of the comfort of your bed before the sun is even up. However, early risers enjoy increased productivity, higher levels of concentration, and even healthier eating habits[3]!

        Those are all great reasons to give it a try and get up a few minutes earlier. Try getting to bed a bit earlier and learn how to become an early riser with the above tips and conquer your days.

        More on How to Become an Early Riser

        Featured photo credit: Nomadic Julien via unsplash.com

        Reference

        Read Next