Lessons we learned from Elon Musk on success

  1. Have a powerful vision : The most successful leaders usually have a powerful vision.
  2. You must execute your ideas well : the success of an idea depends  on how well  is’t executed.
  3. Good ideas can spring from anyone, anywhere : One of the interesting things that Elon Musk has done is to make his ideas open-source.
  4. Think big :Looking at Elon’s history of  innovation, the billionaires idea’s don’t just  create a single product, they have a lasting impact on the industry.
  5. Practice integrity :Elon Musk borrowed heavily from the U.S. government. The company has become a huge success and is selling  thousands of units. After making a good revenue, Elon paid back his $400 million loan. He said that he was grateful to the Department of Energy and all stakeholders who loaned him the money.
  6. Seek out constructive criticism : Many people shy away from criticism. We would rather enjoy compliments, criticism tells us what is wrong with us or the things that we do.
  7. Learn the fundamentals and use the knowledge to your benefit: He teaches us to ask questions and challenge how things are done  to make them better.
  8. Focus on the most important activity in your  enterprise: Elon Musk, Warren Buffet and Mark Zuckerberg they agree that it is better to focus  your  effort  on making  product better  instead  of focusing  your effort  on how  to sell it to the market.
  9. Consider failure in your plans and come up with a back up plan: The main reason why we don’t do what we desire is because we are afraid of failure.
  10. Make every effort to build an organization whose cluture and ideals are are similar to yours: Elon Musk is well known for his ruthless leadership style. He fires employees over small mistakes. Moreover, he will never accept that something is impossible. Anyone who suggests this gets fired too. He has very high performance expectations of the people around him. Many may criticize it but it helps him to get closer to his vision of advancing human civilization and establishing human communities on Mars.