How to run your business like Elon Musk

Here’s how you too can become exactly like everyone’s favourite eccentric billionaire….

Well ok, I can’t promise you’ll become EXACTLY as successful as Elon Musk. But by following a few of the principles he uses, you CAN make real improvements and growth in your own business.

1. Start pointless rows on Twitter. 

Just kidding! Elon Musk does do this a lot though!

1. (Real) Get smart with your time

How busy are you right now? I’ll guarantee you’re not as busy as Elon Musk, and yet he still manages to get a hell of a lot done, including running Tesla and firing cars into space.

Busy then? 

His trick for getting everything done is to schedule his day into 5 minute chunks. It might not sound like you can get much done in 5 minutes (although all you lawyers out there claim to get a lot done in those 5 minute chunks you bill us in!), but the idea is to stay on top of tasks, and not let any time go to waste. 

We all have the same number of hours in each day. It’s a question of what you prioritise in that time. If you never have enough time to work on growing your business like you want to, look at what you are actually spending all your time on.

Elon Musk ignores most phone calls, and doesn’t get bogged down in emails. Focussing in short bursts on what is actually going to add the most value to your business is the best way to stay productive, and keep on track.

2. Fail like a billionaire

Elon Musk has had his fair share of failures over his career. Failure is a normal part of running a business, even for billionaires, so don’t be discouraged if you make mistakes – I’ve made a few, and I am still here!

Early in his career, Elon didn’t even make the cut for an interview at a job he applied for, was thrown out as CEO of his own company, had his early idea for PayPal voted as one of the top 10 worst business ideas, had at least 5 failed attempts at launching space rockets…the list goes on. 

The point is, if you’re not taking risks where you could fail, you’re aren’t pushing yourself hard enough. In his own words, “If things are not failing, you’re not innovating enough”.

Fyre Festival – innovated hard, failed harder!

3. Be yourself

Being successful doesn’t mean you have to leave your personality behind. Musk has raised a lot of eyebrows in his time by being outspoken, or unconventional, but he has always been 100% himself. Even when what that looks like is calling a cave diving rescuer a paedophile on Twitter for no apparent reason!

You don’t have to compromise who you are to be successful in business. No-one wants to do business with some boring personality vacuum at the end of the day. Sometimes what’s going to set you apart in a deal is that you DO have something either interesting or unconventional in your approach.

People can spot a mile off if you’re bullshitting, or pretending to be something that you’re not. Save yourself the trouble, and just be honest and authentic. It pays off in the long run, trust me.

4. Think bigger

How BIG is your imagination? What sets Elon Musk apart from other entrepreneurs is the scale of his vision. If something seems too big to achieve, see this as a challenge: just how far could you take your idea? The temptation is to set yourself self-limiting goals in business, aiming just high enough so you’re sure you can achieve it.

What Musk does is approach every problem with a ‘what if?’ mentality. What if you could not just double your business, but make it ten times bigger? What if you didn’t NEED to rely on buying in your main components but could manufacture them yourself? What if the things you imagined could actually come true?

The only limits to what you can achieve are the ones you let get in your way.

 If you want to hear more about my own story, my personal successes and failures along the way, check out my YouTube channel for my tell-all interview.

I’ve also written guides to my own area of expertise, how to get funding for your business, so if you’re looking to grow your own billion-pound empire and need funding in place, check out my GET FUNDED GUIDE, for all the tips you need to know.

Matt Haycox

http://www.fundingguru.com

 

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