10 Entrepreneurial Skills of Elon Musk that Everyone should Learn
Elon Musk is hailed as the most creative entrepreneur after Steve Jobs. The critics belonging to the media and technology argue the point that making this comparison is wrong as their aspirations are completely different and the generation gap separated the two creative minds of our generation. In the review of the Musk’s biography by Ashlee Vance done by New York Times, the words are powerful enough: “Any reader will sense the need to put comparisons to Steve Jobs aside. Give Musk credit. There is no one like him.”
SpaceX, Tesla, and PayPal are just some of the few achievements of Elon Musk that made him a renowned entrepreneur worldwide. There are several traits and habits of effective leaders that Elon Musk boosts of. In this article, I will cover 10 entrepreneurial traits that make Elon Musk stand out from the crowd.
This skill can be attributed to him but let me explain why. When it comes to starting ambitious projects that revolutionize a particular industry, Elon Musk takes the lead. He started by selling a computer game, he coded himself, to a firm for $ 500 at the age of just 11 years. He made PayPal and stuck to it in the face of severe criticism even when most of his colleagues who backed out.
There are numerous other aspects about which I would need another article to explain the creative skills of Elon Musk and how he incorporated them in all of his projects. He is fast changing our lives and reshaping our future.
- Ability to Learn
Elon Musk has an amazing ability to learn new things and apply it to the projects. As a kid, he uses to read encyclopedias and other books just for fun. It turned out a really good habit as he gained interest and then considerable knowledge about programming, physics, and rocket-science which helped him setting up the business empire he has today. So the ability to learn quickly is the key for any budding entrepreneur to succeed in today’s dynamic business environment.
- Being Ambitious
In some cases, just being creative is not enough until the person is ambitious enough to go about it with full conviction and grit. Elon Musk was always driven by the need to do the right thing not keeping the current trend in mind. Musk has been compared to numerous great entrepreneurs of the last century like Howard Hughes, James Cameron, Sir Richard Branson, etc. So being ambitious is good, especially for young people to make it big in life and Musk has always been ambitious to the core.
- Turning Vision into Reality
One common trait among successful entrepreneur is the ability to turn their vision into reality. Like all the top leaders, Musk shares his vision with his team responsible for product or project development and then make people believe his projects are not only revolutionary but viable as well. The concept of Hyperloop has already been taken up by the countries like UAE and Sweden. And the State of California is already thinking of using the Hyperloop for the high-speed rail link between Los Angeles to San Francisco which is a real achievement for Elon Musk.
- Hard Work
While most of us work really hard to complete the tasks or work assigned to us, Elon Musk takes it to a different level. Musk works for over 100 hours / week, that’s over 14 hours daily including Saturday and Sunday! He has been doing this for many years and cites this for his success in virtually everything he does. He sets the example for the others especially for the workers of his company. This can be termed as the benchmark in the technology industry as he show the way for others to follow.
Along with Tesla, SpaceX, and PayPal, Hyperloop is fast becoming the next frontier in making distant traveling a thing of the past. With speed of up to 760 miles/hour, it will be a breakthrough like never before. This is called pure innovation; to invent a thing that no one has ever think of or ventured before. The energetic and ambitious personality of Elon Musk is also responsible for his many innovations as he looks to make his own way in creating products/services. His mission is to make this world a better place to live.
- Inspire your Target Audience By Creating Brand Awareness
Creating brand awareness among your target audience is critical to success in today’s marketing oriented world. Elon Musk knows that very well. Like his other projects, the brand Tesla has come a long way and now is among the best electric cars on the market. He made sure his brand is everywhere by making charging stations, Supercharger network of stations and destination charging by providing high-powered wall chargers in high-end hotels, up-market restaurants, resorts, shopping malls, etc. has made sure his brand is recognized all around the world.
- Serial Entrepreneurship
Elon Musk’s name is synonymous with new projects on a regular basis. Apart from the project he has already completed,, there are many projects in the loop which can be termed as the game changer once they will be completed. Solar City is one project which can become the largest electricity provider for the North American people. This is a humongous task and Musk isn’t afraid to put in all his effort and a hefty sum in making this dream come true. This is one of the reasons for all the success he has till date.
Elon Musk do not get enough time, like most entrepreneurs, to spend with his family which includes 6 young boys. He has made many other sacrifices too in order to make his projects standout in terms of quality and effectiveness. After the initial success of his projects like PayPal, he invested his own savings in the projects he started. It takes a big heart to invest the money you have earned through hardships in a new project without a guarantee of success. So you must to be ready to sacrifice many things dear to you if you want to become a successful entrepreneur.
- Motivate the Workforce
The top management of all the projects run by Elon Musk comprises of experts in the industry. It doesn’t mean that he hired the best people from other countries by offering lucrative packages. The prime example is Gwynne Shot well who is Musk’s right-hand woman and has been working with him for a long time. Musk knows how to motivate and retain the best talent in the industry to remain with him and work with commitment and zeal to make it count.
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