The secrets of Elon Musk's success

Work like you're in Hell"

Elon Musk often works from 80 to 100 hours a week. Excessive persistence greatly increases the chances of success.

If others are working 40 hours and you are working 100 hours, in 4 months you will achieve what it will take them a whole year to achieve and you will be at an advantage.

"Explained by Musk."

Take risks in your youth.

Musk advises taking risks, especially while still young. He explains this by saying that as one ages, the number of responsibilities increases, so it's best to take risks early, while there is still no family and children.

Be kind.

Tesla and SpaceX.

Elon Musk earned $180 million by selling his startup PayPal. This money was enough to buy a house and live securely for the rest of his life. But Elon Musk invested this money into his next companies: Tesla and SpaceX.

100 million dollars in SpaceX.

70 million dollars in Tesla.

10 million dollars in Solar City.

Don't be afraid of failure.

It is interesting that even Musk himself did not believe in his company Tesla - he thought that it was more likely to fail, but still he took the risk. He explained his decision by the desire to change the world's perception that electric cars are slow and ugly.

If something is very important, try even if the likely result is failure.

Masks said.

Never stop learning.

Musk believes that in this world of limitless knowledge there is always something new to learn. Even as a child he read the entire "Britannica Encyclopedia". Even today he spends several hours reading.

Invest in product improvement, not advertising.

Mask believes that instead of advertising, money and time should be spent on improving the product.

Will these efforts lead to an improvement of the product or service? If not, I will cease these efforts.

– Explains Musk.

"Tesla never spent money just on advertising."

Instead of this, they focus on investments in R&D and design. A good and quality product will already be its own advertisement.

Make the world better.

Mask believes that a successful product or service is one that is useful and has a certain value to users. This value can be found in a small game or app that allows for photo sharing. Understanding the usefulness of one's work is motivating.

Comments

Nifty Bank climbs Mt 51K for first time; what should traders do?

Any clear direction will only emerge after the results, so traders are advised not to take any overleveraged positions and keep their trades light and with strict stoploss . Looking at the wide range of highest CE and PE, traders are expecting a wide trading range for the week,” he recommended.

What is scaling?

Scalping is a trading strategy commonly used in financial markets where traders aim to profit from small price movements. A scalper typically makes numerous trades throughout the day, holding positions for a very short period of time, sometimes just seconds or minutes. Scalping relies on the idea that even small movements in price can create opportunities for quick profits when executed with large trade sizes. Scalpers aim to take advantage of these small price changes by entering and exiting positions rapidly. Scalping requires a high degree of precision, quick decision-making, and discipline. It also typically involves using leverage to amplify potential gains from small price movements. However, it is important to note that scalping can be very risky due to the high frequency of trades and the potential for significant losses if the market moves against the trader. Scalping is more suitable for experienced traders who can react quickly to market changes and have a good underst...

Bullish Flag chart patterns.

Implication A Flag (Bullish) is considered a bullish signal, indicating that the current uptrend may continue. Description A Flag (Bullish) follows a steep or nearly vertical rise in price, and consists of two parallel trendlines that form a rectangular flag shape. The Flag can be horizontal (as though the wind is blowing it), although it often has a slight downtrend. The vertical uptrend, that precedes a Flag, may occur because of buyers' reactions to a favorable company earnings announcement, or a new product launch. The sharp price increase is sometimes referred to as the "flagpole" or "mast". Figure 7: Flag (Bullish) The rectangular flag shape is the product of what technical analysts refer to as consolidation. Consolidation occurs when the price seems to bounce between an upper and lower price limit. This might occur, for example, in the days following a positive product announcement, when the excitement is starting to subside, and fewer buyers are willin...

Allabout

Search This Blog