Elon Musk is the CEO and CTO at SpaceX, CEO of Tesla Motors, and Chairman of Solar City. He is also CEO and product architect at Tesla Motors. It is incredible to consider his uncanny ability and skill to find and master new technologies.
Here are the 4 rules of his success.
Make Failure An Option:
After his first attempt at launch, which cost $30 million, he failed to succeed with the second attempt. The third attempt, which cost $60 million, was a success, and NASA awarded him a $1.6billion contract for 12 resupply flights. Musk believes that failure is part of the creative process.
Know Your Limits:
Elon Musk is the 21st century’s smartest and most hard-working entrepreneur. But he also knows his limits better than anyone else.
When he was thinking about a company to make solar panels, he realized that it would distract from his work at SpaceX and Tesla. He enlisted Lyndon Rive and Peter to help him. They founded SolarCity that year. Musk was the principal investor in the company, and he became the chairman.
While he did invest his time there, he also kept enough distance to make sure it didn’t drain all of his energy. This allowed Elon Musk to dedicate his time to SpaceX and Tesla, taking them to the next level.
Like Your Own Product First:
Many inventions and businesses were started by innovators who wanted that for their own. Musk is so in love with his Tesla car that he drove it from LA to NY with his family in Model-S. He announced the same about his short trip in Model-S on Twitter.
He took the first-hand experience and insights to improve Tesla’s Electric Car by driving the car himself.
Look For A Solution:
Many people believe that battery packs will be more expensive than they should be because they are so costly to make. Musk claims that if you take out the essential components of batteries (cobalt-nickel, aluminum, and carbon), and build your own batteries, then costs can be drastically reduced. He was inspired to create Tesla Energy, which is revolutionary storage technology for energy-efficient homes and businesses.