15 tips from Elon Musk on how to become a successful entrepreneur

Elon Musk, one of the most powerful and wealthy people in the world, has left an indelible mark on various industries with his innovative vision and unique approach to business. This millionaire is widely represented in the media, and over the years he has left many valuable phrases in conversations and interviews about how he sowed and reaped his success.

Founder of such successful companies as Tesla, SpaceX, Neuralink And Boring companyMusk has faced and overcome countless challenges to get to where he is today. His ability to think outside the box and willingness to take calculated risks has enabled him to revolutionize sectors as diverse as transportation, energy and space technology.

Elon Musk’s path to success has not been easy or without setbacks, but his persistence and determination have helped him overcome obstacles that would have stopped many. His thoughts and advice on business success are closely followed by entrepreneurs and leaders around the world who seek to emulate his incredible career.

Teslafounded in 2003, is one of the most recognized companies in Musk World. Elon Musk joined as a majority shareholder in 2004 and currently owns approximately 13% of the company. Tesla dedicated design, production and marketing of electric vehicles. In addition, it produces solutions photovoltaic self-consumption And Renewable Energy through Tesla Energy. WITH market price approximately $859 billion and state approx. 128,000 employeesThe company’s headquarters is located in Texas, USAand factories in America, Europe and Asia.

Based Elon Musk in 2002, SpaceX dedicated spacecraft production and services space transport. Musk owns 42% of the company. SpaceX achieved important milestones such as delivery of supplies and astronauts to the International Space Station and develop a satellite constellation Starlink telecommunications. The company’s headquarters is located in Hawthorne, California.

Neuralinkfounded in 2016, aims to integrate artificial intelligence in that human brain through brain implants. The company is valued at more than 5 billion dollars and received permission from FDA test your chips on people. These essays address issues such as paralysis And amyotrophic lateral sclerosis (ALS).

Created in 2016, Boring company focuses on tunnel construction decrease traffic in big cities. Currently, the company has begun construction of tunnels in the city. Las Vegas, USA. In 2022, its estimated value was approximately $5.7 billion.

In October 2022 Musk acquired Twitter To $44 billion and combined it with X Corp. Although Twitter is not the social network with the most users, it is one of the most influential V social movements. In July 2023, Musk renamed the platform to Xwith the aim of turning it into “super app» similar to those used in Asia.

The Newest Business Adventure Musk is xAIwhose goal is to understand the truth nature of the universe through artificial intelligence. xAI launched chatbot called Grokseen as an alternative ChatGPTwhich is currently in the testing phase and is available only to some paid subscribers of the social network. X.

Elon Musk He is known as the mastermind behind revolutionary companies such as Tesla, SpaceXand recently from social networks X (formerly Twitter).

Musk bought Twitter in 2022 for $44 billion.. He owns approximately 74% of the company, which is now called X. According to research he conducted Forbes In 2023, Musk’s stake in X is estimated to be worth nearly 70% less than what he paid for it.

The tech mogul remained in first place until this year as his fortune changed significantly in his net worth and he dropped to second place. This change came after a court decision dated January 30, 2024, according to which his salary was deprived of almost US$51 billion. Today, Musk’s fortune is estimated at $207.9 billion.

• Accept failure: “Failure is an option. If things are going well, it means you are not creative enough.”
• Look for negative feedback: “Pay attention to negative feedback and ask for it, especially from friends. People don’t usually do that, and it helps a lot.”
• Influence: “The motivation for starting all my companies was the idea of ​​being part of something that could have a significant impact on the world.”
• Choose to be extraordinary: “I believe that normal people can choose to be extraordinary.”
• Do it despite adversity: “When something is important enough, you do your best, even if the odds are against you.”
• Outperform your competitors: “When you enter a market that is already exploited, in order to compete, you have to make sure that your product is not only a little better than the competition, but a lot better.”
• Create a strong brand: “A brand is just a perception, and over time that perception will match reality.”
• Give preference to talent over quantity: “It’s a mistake to hire a lot of people to do a difficult job. “Quantity never compensates for talent.”

• Stay optimistic with realism: “I always have optimism, but I am a realist. “I didn’t launch Tesla or SpaceX expecting huge success, I just thought they were important enough to get there anyway.”
• Communicate clear goals: “People work better when they know what the goal is and why. It’s important that people know where they come to work every morning and that they enjoy their work.”
• Rate your personality: “My biggest mistake is probably choosing talent over personality. I think it matters whether someone has a good heart or not.”
• Rate your personality: “The first step is to establish that something is possible. “Then it will most likely happen.”
• Persist: “If something is important enough, even if the odds are against you, you have to keep trying.”
• Don’t get distracted by wrong decisions: “Don’t get distracted by thinking something might work when it doesn’t, otherwise you’ll be stuck with the wrong decision forever.”
• Control risks: “Keeping your eggs in one basket is fine as long as you control what happens to that basket.”