Elon Musk: Top Ten Rules For Success For Entrepreneurs

Adeyemi/ Motivation

Elon Musk

Elon Musk is the closest thing we have to a real-life iron man.

According to his Wikipedia page:

Elon Reeve Musk is a South African-born Canadian-American business magnate,engineer,inventor and investor. He is the founder, CEO and CTO of SpaceX; co-founder, CEO and product architect of Tesla Motors; chairman of SolarCity, co-chairman of OpenAI; co-founder of Zip2; and co-founder of PayPal.

As of April 2016, he has an estimated net worth of US$14.2 billion, making him the 68th wealthiest person in the US.

Forbes describes him as the founder of two moonshot tech companies which he also runs: Tesla Motors and SpaceX.

At Tesla he’s busy trying to bring fully-electric vehicles to the mass market. At SpaceX, a literal moonshot, he’s trying to revolutionize space tech to enable people to live on other planets.

So, why is Elon Musk so successful?

  • Elon Musk started his first company Zip2 at age 23 and sold it to COMPAQ for $307 millions in cash and $34 millions in stock options in February 1999. He received $22 millions (7%) from the sales.
  • He co-founded Paypal and was the largest shareholder (11.7%) and sold it to eBay for $1.5 billions in October 2002. Musk received $160 millions from the sales.
  • He invested in IT company in 1998 Everdream Corporationfounded by his cousins that was sold to Dell in 2007.
  • He invested in SolarCity, one of the country largest installers of solar panels founded by his cousins who sold Everdream Corporation do Dell.
  • Tesla received in 2009 US$465 million in interest-bearing loans from the United States Department of Energy and fully repaid the loan back in May 2013
  • Many investors including private investors invested in Tesla. And Tesla has signed many contract with some fortune 500 companies.
  • Elon founded SpaceX, and SpaceX won several contracts with NASA. SpaceX also received $1 billion funding from Google and Fidelity in 2015.

Watch him as he shares his top ten rules for success.

Elon Musk’s 10 Rules for Success for Entreprenurs

 

Summary

1. Never Give Up

2. Really Like What You Do

3. Don’t Listen to the little man.

4. Take a Risk

5. Do Something Important

6. Focus on Signal over Noise

7. Look for Problem Solvers

8. Attract Great People

9. Have a Great Product

10. Work Super Hard

Always remember that your imagination equals possibilities. If you can think it, then you can achieve it. Dare to dream the impossible.

What do you think about Elon Musk?

About Adeyemi

Adeyemi Adetilewa is an entrepreneur who knows about digital marketing in all its forms. Asides from writing, and helping businesses grow, he wants to travel around the world with his family, acoustic guitar, and digital camera.

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