5 essential Lessons Everyone can learn from Elon Musk

Elon Musk created over 40,000 jobs. That’s more jobs than the population of Monaco! He is the real-life Ironman and Batman. Looking at all his achievements, there’re some essential lessons that everyone can learn from Elon so we can become heroes in our own lives. Here’re 5 lessons we all can learn from “the raddest man alive”. Let’s dive in!

The day you stop learning is the day you start dying

Most people stop learning when they graduate from college or university. This is the wrong mindset. In Judo you’re taught to always have a white belt mentality, even if you’re a black belt. This is an awesome philosophy to live by. You never know everything, and you never will. So never stop learning.

“The day you stop learning is the day you start dying”

Elon Musk takes this philosophy to the extreme. Surrounding himself with experts in specific fields and always learning from them. When he was 31 years old, he knew nothing about space exploration but decided to start SpaceX. He needed to learn a completely new industry fast. Fast forward 18 years later and he owns the biggest space exploration company in the world.

Key Takeaways

As an entrepreneur, you can’t afford to stop learning. Learn a lot and put it into action.

  • Read a lot of books.
  • Watch educational YouTube videos and CEO interviews.
  • Read educational articles and blog posts.
  • And watch book summaries.

If you don’t know what books to start reading, start with…

  • Deep Work by Cal Newport.
  • Slight Edge by Jeff Olson.
  • Extreme Ownership by Jocko Willink.
  • And, The First 20 Hours by Josh Kaufman.

These books will give you the proper mindset and a strong foundation to start learning difficult topics quickly.

Nobody does amazing things for money

There is nothing wrong with starting a business to make money. That is how most of the greats start. They have ambitions of leaving their soul-sucking job to live in a fancy house and driving a sports car. But after a few years, they get tired of all their material possessions and ambitions. This is when the real magic happens.

They start viewing money as a tool to build the things that give them satisfaction, rather than something that’ll buy them the latest iPhone. After eBay bought PayPal, Elon Musk had $165 million just sitting in his bank account. Instead of spending that money and buying whatever he wanted, he decided to start SpaceX. Most people believed SpaceX was going to fail, and it almost did, multiple times, but Elon perceived because SpaceX gave him satisfaction.

If Elon Musk started SpaceX solely for the money, it would’ve failed.

Key Takeaways

When you’re starting out, you want to quit your job, but you must pay the bills and feed yourself. So, you start a business for some quick money. Again, there’s nothing wrong with this.

But this is what separates average entrepreneurs from the great ones. The average entrepreneur will stay in this mindset. Great entrepreneurs will start to realize that money is simply a tool to build the things you love.

Persistence is king

If you work towards your goal every day for years, it’s impossible not to achieve your goals.

You might run into some potholes on your way, or your business might fail, but keep at it. You will get there. Whether it takes 10 years, 20 years, or an entire lifetime, you will get there. Like Albert Einstein famously said…

“You only fail when you stop trying.”

Elon Musk is famous for his extreme work ethic, constantly working 20-hour workdays.

Key takeaways

I’m not saying everyone should work 20-hour workdays just because Elon Musk does. But you must persist. Whenever you’re stuck, instead of giving up, look at the bigger picture and remember why you’re doing what you’re doing.

Constructive criticism allows you to grow

Constructive criticism allows you to discover mistakes you don’t even know you’re making.

We’re all human. We all make mistakes. But you must put your ego in your back pocket and let others criticize you if you want to be successful.

Elon Musk surrounds himself with people that are better than him in a specific field and allows them to criticize him if he’s doing something wrong. This is one of the main reasons why he is so successful.

We all had that boss that rules over his employees with an iron fist. Not allowing anyone to correct him because his ego is all that matters. Does that ever work? No! Successful companies aren’t built around fear, they’re built around doing things right.

Key Takeaways

As an entrepreneur, you must surround yourself with the right people. Constructive criticism from people that don’t know what they’re talking about is worse than no constructive criticism at all. Surround yourself with competent and motivated people.

Run your company like a democracy, not a dictatorship. If you want to introduce a new marketing strategy that you think will work, but your CMO says that it’s a terrible idea. Get rid of your ego and listen to him! Your sales figures will thank you.

Elon Musk always followed his passions

Elon Musk always dreamt of traveling to space. It was his childhood dream. Then, at age 31, he founded SpaceX, and at age 38, he put his first satellite into orbit.

No matter how big and crazy your passion is, follow it. You never chose your passion, it chose you. You’d be doing the world a disservice by not following your passions.

Too often we’re told to be average. Go to school, get a job, and retire. Imagine if Elon Musk followed that advice and never followed his passion? Would we even know who Elon Musk is?

Key Takeaways

Find out who you really are.

  • What are your hobbies?
  • What activities will you do and just lose track of time?
  • What interests have you left behind because you’re too busy?

Make a list of all these activities and do them regularly.

Do you love skiing? Then ski more! Do you love painting? Then paint more!

No passion is so unprofitable that you can’t build a business around it. If you love to ski, then save some money and start teaching people how to ski. There are millions of people that would love to ski but don’t know how. Help them!

If you love what you do and can pay the bills doing it, then you’re rich.

Conclusion

You don’t have to eat shit to know that it tastes like shit. Meaning, learn from other’s successes and failures and you’ll be far ahead of the competition who’s learning from their own successes and failures.

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