Who doesn’t know Elon Musk? The visionary entrepreneur who is the co-founder of Tesla, PayPal and SolarCity and is the founder of SpaceX. The man who has a number of accomplishments under his belt simply at the age of 48. Elon Musk can be considered as real-life Iron Man.
So how did Elon Musk achieve success?
In the 2013 Ted Talk, the billionaire entrepreneur revealed that it was Physics that made a very deep impression on his thinking.
“First principles boil things down to their fundamental truths and reason up from there, as opposed to reasoning by analogy”, he stated.
Musk does however, acknowledge that reasoning by analogy or “copying what others do but with slight variations” is something unavoidable and we have to do throughout most of our lives, “Otherwise, mentally, you wouldn’t be able to get through the day”.
He had also stated that the value of first principles are a very strong and powerful way of thinking, although difficult to inculcate.
“Don’t just follow the trend. It’s good to think in terms of the physics approach — the first principles,” he said. “This is a good way to figure out if something really makes sense, or if it’s just what everybody else is doing.”
He further added that “It’s very hard to do. You can’t think that way about everything. It takes a lot of effort, but if you’re trying to do something new, it’s the best way to think. It’s really a powerful, powerful way of thinking.”
Musk had also finished reading the whole of an encyclopaedia and taught himself coding by the young age of thirteen. His dedicated mindset made it possible for him to be who he today.
Moreover, he did not have it easy from the very beginning. From being bullied during his childhood days to being called a dud on national television, Elon Musk had faced tough criticisms but never faltered in his ambitions of making the world a better place.
Elon Musk is also known for his vigorous work ethic, often times working up to 100 hours a week. During one of his commencement speeches, Elon Musk had stated that during the days he and his brother were starting Zip2, their website will be up in the morning but he was coding during the night.
Once a person reaches a million or a billion, they are afraid to lose it all. So, they don’t make risky bets from then on. But Elon Musk has never been afraid of doubling down on his bets risking everything he has. He doesn’t have much care for the money, rather he puts his everything in achieving a goal for the better of humanity.
The best leaders treat co-workers and customers like family. Musk regularly tweets, expressing his gratitude to the customers through Twitter. Many executives have learned from Musk’s example, such as Maulik Parekh, President and CEO of SPi CRM. “Our most valuable asset is our people,” he explains. “If we take care of them, then they take care of the business. What we do for our people is what we do for your customers. The wins for our employees create wins for your customers.”
Despite his failures upon failures, Musk had never been deterred or discouraged. Not giving into anybody’s penniless thoughts, he had worked for his vision and today, he plans on colonizing Mars.
So, what do we learn from Musk’s journey to success?
To always think outside of the box and be ambitious enough to dedicate your whole time and effort to finishing a single task. The more failures you encounter, the more you learn about something and thus, putting you ahead of your competitors.
Hence, Elon Musk keeps growing and can never be stopped for this man is one of a kind.