Billionaire Elon Musk is one of the most successful people in the world. The CEO of SpaceX, Tesla and Neuralink and co-founder of PayPal has revolutionized the tech industry. Musk is often in the limelight for to his efforts regarding establishing a human colony on Mars. So how has Elon Musk managed to achieve such extraordinary success?
1. Work Ethic
Everyone knows how important a good work ethic is in attaining success. But Elon Musk takes this to new extremes. The Tesla CEO reportedly works around 90 to 100 hours every week at the expense of sleep, food and entertainment. With his numerous successful companies, personal initiative and creative revolutionary ideas Musk spends almost all his time working. This can’t be healthy. But, it seems to be working for him.
2. Quality, Quality, Quality
These days a whole lot of stock is put on good marketing and advertising strategies. In fact, most companies spend a majority of their budget ensuring people will want to buy their product when it comes out. But Elon Musk doesn’t believe in advertising. The billionaire’s only focus is the quality of the product.
3. Active Social Media
Most celebrities have a Twitter account. Some even have teams devoted to running them. But Musk believes in a direct approach. The genius entrepreneur loves having direct access to his fans and makes it a point to reply to every tweet sent his way. Thus creating what he calls a ‘Feedback Loop’. Imagine having Elon Musk respond to something you said online!
4. Read, Read, Read
Reading has always been Musk’s favorite pastime. And he mentions this often in his interviews. One of his favorite books is The Hitchhikers Guide to the Galaxy. Considering his numerous Space related ventures this book might very well have inspired the SpaceX CEO’s entire career.
5. No Patents
As of 2014, Elon Musk stated that his companies would no longer have any patents. Patents are what allow you to claim ownership of your creations. And while this might seem like a good idea to the eccentric billionaire the public at large is speculative.