Elon Musk is now a world-renowned character. His controversial views would have been widely rejected by society if he had been an ordinary person. But fortunately, he is now the richest man in the world. So then everything Elon Musk says adds value. Let us consider some factors that may have contributed to his success.
1. Overwork
According to Elon Musk, he worked 20 hours a day. Any rich person works so hard in a time of prosperity. But Elon Musk is still such a hard worker. He visits a Tesla Giga factory he recently built and then the next day he attends an interview. There, Musk reveals that he spent the night in a long seat in the meeting room of the factory he was building. Although he worked for several companies at the same time, Elon Musk is still not one to spend most of the week in a mansion.
2. Discovering new things
While everyone was thinking about the online marketplace, Elon Musk sold the PayPal company he started in 1999 to eBay and turned his attention to another business.
Elon Musk invested in rocket technology and started thinking about it in 2001. He has been thinking about Tesla cars and investing in them since 2003. Ten or fifteen years ago, Elon Musk came up with technological ideas that would take the world in a different direction. The next generation of transportation systems he is currently talking about, such as hyper loops, and his urban transportation systems are likely to change the world in the next ten years.
3. Selecting several routes and maintaining them
Big billionaires have several businesses along the way anyway. The same goes for Elon. But Elon’s not an only handshake, he’s good at executing work. No matter how successful the Tesla electric car is, Elon will not stop there. He also looks at the work that people are sending to Mars via SpaceX. We also look at his new Giga factory methods that are new to the world. Elon Musk is also constantly looking for work that he has started for a while and is slowly moving. Elon Musk has always been adept at finding ways to generate revenue that combines innovation with the revenue streams in the world so far.
4. Focus on production processes
Many people start a business and invest but focus on the sales opportunities rather than the technical side. Sales and marketing are important. But Musk is more of an activist with a better vision of everything technically than that. He started making rockets out of stainless steel to reduce costs during the SpaceX process. He also developed and developed a rocket-launching system called the Drone Ship so that rockets could be reused. When it comes to Tesla cars, there was a big setback in the process of making Tesla cars. To that end, he set up robust new machinery with robotics and automation to speed up the production process. He also set up a charging network across the United States to charge Tesla cars.
5. Find solutions to setbacks
In the rocket program called Space X, not only are the rockets being tested very successful now, but they are also beautifully landed. But at one point, the SpaceX rocket crashed one after another. Even Tesla cars had different problems at one time. According to car analysts, the Tesla car still has some shortcomings. But Elon Musk was able to slowly and permanently solve all of them. Elon Musk once had to borrow money from the US government because of his business setbacks. But that did not deter him.
6. The ability to monetize inventions
In Sri Lanka, there are a lot of people who keep a new invention and try to find a sponsor for it. Musk’s style is different. He tries to sell most of his new inventions. After he built the rockets, he did not wait for those rockets to go to the moon someday but began to provide money to NASA and the US Army through his rockets. He is also trying to provide a Starlink satellite system that will go rocket and provide internet to the world. When it was too late to build his car, he created a concept called Giga Factory as a new space for it and he is now planning to make money as a technology that can build that Giga Factory for anyone who wants it. Elon Musk was able to sell batteries and accessories developed by Tesla directly to other companies. Another reason for Musk’s success is that he does not stop at just inventing new things, but trying to create a market with all those new things.
7. Be a practical scholar
Many world-famous billionaires and bureaucrats read good books. Elon Musk was a good reader when he was little. Elon Musk has a successful understanding of the subject to the point where he can make a good presentation in every field he has touched on later. He also has a fresh idea about education. According to him, teaching about tools and methods and then teaching about the engine is not successful. Elon Musk is of the opinion that children should be taught about the engine first and then the tools needed to make it work only when it is needed. Musk, who has a lot of controversial opinions like that, sometimes does not hesitate to present his ideas, even if they are unfavorable.
Studying billionaires is a good thing for our lives. Most billionaires are good learners. Although their number of degrees and certificates may be less, it can be seen from their interviews that they have gained a great deal of knowledge from reading and studying. Also, many people who have good money have worked hard for it at some point in their lives. So we strive to find the value of Elon Musk and to add to our lives the factors that led to his success.
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