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Elon Musk’s Top 10 Rules For Success in Life

With worth over 11 billion dollars, Elon Musk has created game-changing businesses such as PayPal, Tesla Motors and now SpaceX.

Here are his top 10 rules for success in life.

Rule # 1 – Never Give Up

I don’t ever give up. I’d have to be dead or completely incapacitated.

Rule # 2 – Do What you really like to do

it’s important that you really like whatever you’re doing. Whatever area that you get into, always know that you’re the best. Be cautious that even with the best, there’s always a chance of failure. it’s important that you really like whatever you’re doing. If you like your work, you think about it even when you are not working. You can’t make things work if you don’t like it.

Rule # 3 – Don’t pay heed to all the advice you get

His two companies were highly unlikely to succeed but he started those because he was not afraid of the failure. For SpaceX, his friend brought a whole bunch of rocket blowing videos because he never wanted Elon to lose his hard earned money. Elon went on, created the company and rest is history. SpaceX is a force to reckon with in the space industry.

We’re doing these things that seem unlikely to succeed and we’ve been fortunate and these thus far have succeeded.

Rule # 4 – Take a Risk

The best time to take risk is when you are in college, you don’t have kids so therefore there is not much responsibility. With family comes obligations, responsibility and you can not take risk. As a student, now is the time to take risk. Do something bold you won’t regret in your life. Be a risk taker.

Rule # 5 – Work on something important

I didn’t really think Tesla would be successful. I thought we would most likely fail but I thought we could at-least address the false perception that people had about an electric car that it has to be ugly, slow and boring like a golf cart.
If something is important enough you should try even if your probable outcome is failure.

Rule # 6 – Focus on signal over noise

You focus on signal over noise, a lot of companies get confused. They spend money on things that don’t make the product better. For example at Tesla, we’ve never spent any money on advertising. We put all the money into R&D, manufacturing and design. We try to make the car as good as possible. I think that’s the way to go, if we’re for any given company just keep thinking about, are these efforts people are expending resulting in a better product or service?. If they’re not, stop those efforts.

Rule # 7 – Always surround with problem solvers

When we interview someone to work for our companies, we ask them to tell about the problems that they worked on and how they’ve solved them?
 You can easily identify the problem solver. if someone was really the person who solved a particular problem, they’ll be able to answer at multiple levels. They’ll be able to go down to the brass tacks. In comparison, if one is not an actual problem solver, they’ll get stuck and you can easily identify that they were not the actual problem solver.
Any one who struggled hard with a problem never forgets it.

Rule # 8 – Attract great people

if you’re creating a company or if you’re joining a company, the most important thing is to attract to great people so either they would join a group that’s amazing, one you really respect or if you’ve building a company; you’ve got to gather great people. Remember, company is a group of people that have gathered together to create a product or service.

Do everything you can to gather great people; if you’re creating a company.

Rule # 9 – Offer a great product

You have got to make sure that whatever you’re doing is a great product or service. it has to be really great and if you’re entering an existing market place against lodge and trenched competitors, then your product or service needs to be much better than theirs.

it just can’t be little bit better because then you put yourself in the shoes of the consumer and they say why should they buy from you as a consumer?.  You’re always going to buy the trusted brand unless there’s a big difference.

Rule # 10 – Work Super Hard

You need to work super hard. When my brother and I were starting out first company, instead of getting an apartment, we just rented a small office and we slept on the couch. I was coding at night seven days a week all the time.
Work hard, nothing can beat that.

Content is picked from a YouTube video by Evan Carmichael

Elon Musk’s Top 10 Rules For Success in Life

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Written by Hisham Sarwar

https://www.youtube.com/watch?v=OAi5HVJbixQ

That is all you ever need to know about me but let me warn you, freelancing for me is a journey, certainly not a destination :)