AskmenBy Alex Bracetti
A multi-billion dollar fortune, fancy cars, and the love life of a rock star -- every man on this planet aspires to become the next Elon Musk. The tech kingpin better known as the “real-life Iron Man” is reimagining the world with his evolutionary businesses and projects. And he’s doing so while enjoying the vast wealth and turbulently exciting lifestyle of a wildly ambitious entrepreneur. Now you seek to learn the tricks of the trade from this generation’s biggest success story.
Musk’s accomplishments (and failures) are best defined by his daring experiences and dangerous risks, all of which he’s chronicled and shared with the public over the years. His intellectual potency coupled with adaptable business practices and an incredible personal drive is changing the way we live on Earth, and can certainly inspire any guy to do the same. So to get you on the same page, check out this list of essential life lessons to learn from the tech visionary.
Aim To Go Where Others Haven’t
Be it dream destinations or revolutionary breakthroughs -- one must dare to be different and innovative. Musk and his SpaceX crew are serious when they speak of colonizing Mars. Nearly everything he’s done to this point has been in preparation of moving forward with the dream of seeing a settlement on the Red Planet. The man isn’t stopping there either -- making vast leaps in renewable energy as recently exhibited with the Powerwall home battery.
Test Your Financial Limits
Think you know struggle? Try living off $1 a day like Musk did at the age of 17. Dude challenged himself to live as frugally as possible with a meal regimen mainly consisting of hot dogs and oranges. He did this not out of necessity, but to see if he had what it took to lead the life he wanted to live. Needless to say, the experiment paid off, as it allowed him to learn that money would never be an issue.
Create A Culture of Self-Investment
Most people are quick to give up on themselves after failing. Learn to embrace self-improvement. If athletes can work at mastering their craft on a regular basis, you, as a business professional, should be able to do the same. Musk recommends creating a feedback loop that questions how you could do things better, as well as understand the fundamental principles before examining associated theories.
Always Have An Exit Plan
All good things will come to an end. Hence why Musk says to have an exit plan in order. At just 28 years old, he founded a web company called Zip2 that provided business directories and maps to media companies and local e-commerce merchants. Knowing the future of the business, he managed to secure contracts with The New York Times and Chicago Tribune with the intention of selling the company, which was later acquired by Compaq for $307 million. Lesson learned: End a project on your terms and don’t be pushed out by clinging on to what was.
Reject The Status Quo
What separates visionaries from the rest of the wannabes is their sheer refusal to accept the status quo. Musk stands out as a rebel with numerous causes. His vision alone to change an auto industry that’s been set in its ways for decades speaks in loud volume. Tesla is just starting to bring premium environmentally friendly automobiles to the sub $40,000 market, while preserving the environment by doing away with fossil fuel.
Don’t Let Near-Death Experiences Stop The Grind
Even in the face of death should you never lose track of the entrepreneurial spirit. It never stopped this billionaire playboy. Back in 2000, Musk contracted cerebral malaria during a trip to South Africa -- losing 45 pounds and nearly his life. He touched on the situation in his book Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future saying, “Man, that experience was no fun at all, but it does tend to sharpen your goal-setting.” After six months of recovery, he gathered the energy to start SpaceX and Tesla Motors in 2002 and 2003, respectively.
Surround Yourself With Exceptional People
They say you’re only as good as the people you surround yourself with. Let it be known that even the greatest minds live by this mantra. You may have heard of the names Peter Thiel, Max Levchin, David Sacks, Roelof Botha, and Keith Rabois. All of these power players, including Musk are tied to the affectionately named PayPal Mafia. The man feeds off the energy and intelligence of these talented minds, which in unison are responsible for launching over 14 successful projects (and counting) since their PayPal days. Might want to brush up on your social skills.
Never “Over-Weigh” Your Risks
“[People are] mostly afraid of failure, I think, but they should be less risk averse, when there's not much at risk,” says Musk. He believes something as fundamental as making money or feeding yourself shouldn’t serve as a roadblock from taking the next step. You should as well. The modern world provides too many opportunities if you just look for them.
Become the Master Of Your Own Destiny
The tech visionary said it best: “It’s OK to have your eggs in one basket as long as you control what happens to that basket.” Don’t focus on the result. Instead, pay attention to your actions and take full control of them, as it will lead you one step closer to the goal. Only when you’re fully committed do you realize the sacrifices necessary to make something happen.
Don’t Let Ego Blindside Success
Knowing when to fight for an idea and when to step back is vital. The moment X.com merged with Conformity, which owned a property called PayPal, Musk knew a decision had to be made. So in understanding his 11.7% stake in PayPal was worth more than his larger percentage in X.com, he let go of the business and accepted his part as a team member.
Determine Your Motivation
Money? Women? Success? Ask what fuels your fire. Musk’s time at PayPal should add some perspective: “Going from PayPal, I thought, ‘well, what are some of the other problems that are likely to most affect the future of humanity?” It was this train of thought that helped launch all his companies and most recent vision of putting the Internet in space. Hell, not even the failed launches of Falcon 1 or the near bankruptcy of both Tesla and SpaceX in 2008 has stopped Musk from conquering greatness.
Prepare To Pivot
Survival is all about adapting to conditions as they change. In the business world, it’s referred to as pivoting. Musk is no stranger to this ideology. He’s turned X.com into PayPal, taking an online bank and made it in to a global payment transfer provider. Later, he sold PayPal to eBay. The rest is history.
Be Charitable
Sharing is both caring and commendable. It speaks volumes for your character. Musk alone has pledged to donate most of his personal fortune as a part of Warren Buffett’s Giving Pledge. And he isn’t stopping there. He’s also giving back to science by stating that Tesla won’t pursue any patent lawsuits against “anyone who, in good faith, wants to use our technology.” The reason for that? Simply put, he believes the advancement of electric vehicle technology is more important. And that is how you make a contribution to humanity.
Stay Ambitious
The ladder of success is a high climb. Musk claims, “The first step is to establish that something is possible; then probability will occur.” Translation: Remain ambitious. With Tesla in particular, he’s fixated on making electric cars the standard automobile of the future. And even with the company projected to turn in its first profits in the year 2020 (not a typo), Musk still finds the motivation to keep his vision alive. If that doesn’t define ambition, then what does?
A multi-billion dollar fortune, fancy cars, and the love life of a rock star -- every man on this planet aspires to become the next Elon Musk. The tech kingpin better known as the “real-life Iron Man” is reimagining the world with his evolutionary businesses and projects. And he’s doing so while enjoying the vast wealth and turbulently exciting lifestyle of a wildly ambitious entrepreneur. Now you seek to learn the tricks of the trade from this generation’s biggest success story.
Musk’s accomplishments (and failures) are best defined by his daring experiences and dangerous risks, all of which he’s chronicled and shared with the public over the years. His intellectual potency coupled with adaptable business practices and an incredible personal drive is changing the way we live on Earth, and can certainly inspire any guy to do the same. So to get you on the same page, check out this list of essential life lessons to learn from the tech visionary.
Aim To Go Where Others Haven’t
Be it dream destinations or revolutionary breakthroughs -- one must dare to be different and innovative. Musk and his SpaceX crew are serious when they speak of colonizing Mars. Nearly everything he’s done to this point has been in preparation of moving forward with the dream of seeing a settlement on the Red Planet. The man isn’t stopping there either -- making vast leaps in renewable energy as recently exhibited with the Powerwall home battery.
Test Your Financial Limits
Think you know struggle? Try living off $1 a day like Musk did at the age of 17. Dude challenged himself to live as frugally as possible with a meal regimen mainly consisting of hot dogs and oranges. He did this not out of necessity, but to see if he had what it took to lead the life he wanted to live. Needless to say, the experiment paid off, as it allowed him to learn that money would never be an issue.
Create A Culture of Self-Investment
Most people are quick to give up on themselves after failing. Learn to embrace self-improvement. If athletes can work at mastering their craft on a regular basis, you, as a business professional, should be able to do the same. Musk recommends creating a feedback loop that questions how you could do things better, as well as understand the fundamental principles before examining associated theories.
Always Have An Exit Plan
All good things will come to an end. Hence why Musk says to have an exit plan in order. At just 28 years old, he founded a web company called Zip2 that provided business directories and maps to media companies and local e-commerce merchants. Knowing the future of the business, he managed to secure contracts with The New York Times and Chicago Tribune with the intention of selling the company, which was later acquired by Compaq for $307 million. Lesson learned: End a project on your terms and don’t be pushed out by clinging on to what was.
Reject The Status Quo
What separates visionaries from the rest of the wannabes is their sheer refusal to accept the status quo. Musk stands out as a rebel with numerous causes. His vision alone to change an auto industry that’s been set in its ways for decades speaks in loud volume. Tesla is just starting to bring premium environmentally friendly automobiles to the sub $40,000 market, while preserving the environment by doing away with fossil fuel.
Don’t Let Near-Death Experiences Stop The Grind
Even in the face of death should you never lose track of the entrepreneurial spirit. It never stopped this billionaire playboy. Back in 2000, Musk contracted cerebral malaria during a trip to South Africa -- losing 45 pounds and nearly his life. He touched on the situation in his book Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future saying, “Man, that experience was no fun at all, but it does tend to sharpen your goal-setting.” After six months of recovery, he gathered the energy to start SpaceX and Tesla Motors in 2002 and 2003, respectively.
Surround Yourself With Exceptional People
They say you’re only as good as the people you surround yourself with. Let it be known that even the greatest minds live by this mantra. You may have heard of the names Peter Thiel, Max Levchin, David Sacks, Roelof Botha, and Keith Rabois. All of these power players, including Musk are tied to the affectionately named PayPal Mafia. The man feeds off the energy and intelligence of these talented minds, which in unison are responsible for launching over 14 successful projects (and counting) since their PayPal days. Might want to brush up on your social skills.
Never “Over-Weigh” Your Risks
“[People are] mostly afraid of failure, I think, but they should be less risk averse, when there's not much at risk,” says Musk. He believes something as fundamental as making money or feeding yourself shouldn’t serve as a roadblock from taking the next step. You should as well. The modern world provides too many opportunities if you just look for them.
Become the Master Of Your Own Destiny
The tech visionary said it best: “It’s OK to have your eggs in one basket as long as you control what happens to that basket.” Don’t focus on the result. Instead, pay attention to your actions and take full control of them, as it will lead you one step closer to the goal. Only when you’re fully committed do you realize the sacrifices necessary to make something happen.
Don’t Let Ego Blindside Success
Knowing when to fight for an idea and when to step back is vital. The moment X.com merged with Conformity, which owned a property called PayPal, Musk knew a decision had to be made. So in understanding his 11.7% stake in PayPal was worth more than his larger percentage in X.com, he let go of the business and accepted his part as a team member.
Determine Your Motivation
Money? Women? Success? Ask what fuels your fire. Musk’s time at PayPal should add some perspective: “Going from PayPal, I thought, ‘well, what are some of the other problems that are likely to most affect the future of humanity?” It was this train of thought that helped launch all his companies and most recent vision of putting the Internet in space. Hell, not even the failed launches of Falcon 1 or the near bankruptcy of both Tesla and SpaceX in 2008 has stopped Musk from conquering greatness.
Prepare To Pivot
Survival is all about adapting to conditions as they change. In the business world, it’s referred to as pivoting. Musk is no stranger to this ideology. He’s turned X.com into PayPal, taking an online bank and made it in to a global payment transfer provider. Later, he sold PayPal to eBay. The rest is history.
Be Charitable
Sharing is both caring and commendable. It speaks volumes for your character. Musk alone has pledged to donate most of his personal fortune as a part of Warren Buffett’s Giving Pledge. And he isn’t stopping there. He’s also giving back to science by stating that Tesla won’t pursue any patent lawsuits against “anyone who, in good faith, wants to use our technology.” The reason for that? Simply put, he believes the advancement of electric vehicle technology is more important. And that is how you make a contribution to humanity.
Stay Ambitious
The ladder of success is a high climb. Musk claims, “The first step is to establish that something is possible; then probability will occur.” Translation: Remain ambitious. With Tesla in particular, he’s fixated on making electric cars the standard automobile of the future. And even with the company projected to turn in its first profits in the year 2020 (not a typo), Musk still finds the motivation to keep his vision alive. If that doesn’t define ambition, then what does?
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