he’s worth over eleven billion dollars
he’s created game-changing businesses
like PayPal Tesla Motors and SpaceX he’s
the closest thing we have to real life
Iron Man he’s Elon Musk and here are his
ten rules for success that third failure
in a row did you think I need to pack
this in never why not
I don’t ever give up I’d have to be dead
or completely incapacitated really
liking what you do whatever area that
you get into given that you know even if
you if you’re the best the best there’s
always a chance of failure so I think
it’s important that you really like
whatever you’re doing if you don’t like
it life is too short if you like what
you’re doing you think about it even
when you’re not working I mean it’ll
just it’s something that your mind is
drawn to and and if you don’t like it
you just really can’t make it work I
think so many people try to talk me out
of starting a road company it was it was
crazy one good friend of mine collected
a whole series of videos of rockets
blowing up and made me watch those you
just didn’t want me to lose all my money
we’re doing these things that seem
unlikely to succeed and we’ve been
fortunate and these thus far they have
succeeded now is the time to take risk
you don’t have kids as you get older
your obligations increase so you and
once you have a family you start taking
risk not just for yourself but for your
family as well it gets much harder to do
things that might not work out so now is
the time to do that before you before
you have those obligations so I would
encourage you to take risks now do
something bold you won’t regret it
how did you figure you were going to
start a car company and be successful at
it well I didn’t really think Tesla
would be successful I thought we would
most likely fail but I thought that we
at least could address the false
perception that people had that an
electric car had to be ugly and slow and
and boring like a golf cart but you say
you didn’t expect the company be
successful then why try if something is
important enough you should try even if
you probable outcome is failure you
focus on on signal over noise a lot of
companies get gift confused that they
spend money on things that don’t
actually make the product better for
example at Tesla
we’ve never spent any money on
advertising we put all the money into
R&D and manufacturing and design to try
to make the car as good as possible and
I think that’s that that’s the way to go
if we’re for any given company just keep
thinking about are these efforts that
people are expending are they resulting
in a better product or service if
they’re not stopped those efforts when
interviews someone to work the companies
would be to ask them to tell me about
the problems that they worked on and how
they sold them and if someone was really
the person who solved it they’ll be able
to answer multiple levels they’ll be
able to go down to the brass tacks and
if they weren’t they’ll get stuck and
then you can say oh this person was not
really the person who solved it because
anyone who struggled hard with a problem
never forgets it if you’re creating
company or if you’re joining a company
the most important thing is to I extra
is to attract great people so either be
would join a group that’s amazing that
you’ve really respect or if you’ve
building a company you’ve got to gather
great people I mean all the company is
is a group of people that have gathered
together to create a product or service
and so depending upon how talented and
hardworking that group is and degree to
which they are focused cohesively in a
good direction that will determine the
success of the company
so do everything you can to to gather
great people if you’re creating a
company you got to make sure that
whatever you’re doing is a great product
or service it has to be really great and
I go back to what I was saying earlier
where if you’re a new company I mean
this it’s like some new industry or new
market that if it’s an untapped market
or then
you have more ability to give is this
the standard is lower for your product
or service but if you’re entering
anything where there’s an existing
market place against lodge and trenched
competitors then your product or service
needs to be much better than theirs it
can’t be a little bit better because
then you put yourself in the shoes of
the consumer and they say why would you
buy it as a consumer you’re always going
to buy the trusted brand unless there’s
a big difference so a lot of times you
know entrepreneur will come up with
something which is only slightly better
and it’s it’s not you can’t just be
slightly better it’s got to be a lot
better depending on how well you want to
do in particularly for starting a
company you need to work super hard so
what is super hard mean well when my
brother and I was starting out first
company instead of getting an apartment
we just rented a small office and we
slept on the couch and we shower at the
YMCA and we’re so hot up we had one
computer so the website was up during
the day and I was coding at night seven
days a week all the time and I sort of
briefly had a girlfriend in that period
and in order to be with me she had to
sleep in the office so I work hard like
it mean every waking hour that’s that’s
the the thing I would I would say if
your particular if you’re starting a
company and I mean if you do simple math
to say like okay if somebody else is
working 50 hours when you’re working 100
you’ll get twice as done as much done in
the course of a year as the other
company
thank you guys so much for watching I
love to hear what you think about Elon
Musk is an entrepreneur in the comments
below if you want me to make a
compilation video of another
entrepreneur leave a comment and let me
know who you want me to make that video
about and don’t forget to subscribe to
the channel and the newsletter believe
thank you guys so much for watching I’ll
see you soon
he’s created game-changing businesses
like PayPal Tesla Motors and SpaceX he’s
the closest thing we have to real life
Iron Man he’s Elon Musk and here are his
ten rules for success that third failure
in a row did you think I need to pack
this in never why not
I don’t ever give up I’d have to be dead
or completely incapacitated really
liking what you do whatever area that
you get into given that you know even if
you if you’re the best the best there’s
always a chance of failure so I think
it’s important that you really like
whatever you’re doing if you don’t like
it life is too short if you like what
you’re doing you think about it even
when you’re not working I mean it’ll
just it’s something that your mind is
drawn to and and if you don’t like it
you just really can’t make it work I
think so many people try to talk me out
of starting a road company it was it was
crazy one good friend of mine collected
a whole series of videos of rockets
blowing up and made me watch those you
just didn’t want me to lose all my money
we’re doing these things that seem
unlikely to succeed and we’ve been
fortunate and these thus far they have
succeeded now is the time to take risk
you don’t have kids as you get older
your obligations increase so you and
once you have a family you start taking
risk not just for yourself but for your
family as well it gets much harder to do
things that might not work out so now is
the time to do that before you before
you have those obligations so I would
encourage you to take risks now do
something bold you won’t regret it
how did you figure you were going to
start a car company and be successful at
it well I didn’t really think Tesla
would be successful I thought we would
most likely fail but I thought that we
at least could address the false
perception that people had that an
electric car had to be ugly and slow and
and boring like a golf cart but you say
you didn’t expect the company be
successful then why try if something is
important enough you should try even if
you probable outcome is failure you
focus on on signal over noise a lot of
companies get gift confused that they
spend money on things that don’t
actually make the product better for
example at Tesla
we’ve never spent any money on
advertising we put all the money into
R&D and manufacturing and design to try
to make the car as good as possible and
I think that’s that that’s the way to go
if we’re for any given company just keep
thinking about are these efforts that
people are expending are they resulting
in a better product or service if
they’re not stopped those efforts when
interviews someone to work the companies
would be to ask them to tell me about
the problems that they worked on and how
they sold them and if someone was really
the person who solved it they’ll be able
to answer multiple levels they’ll be
able to go down to the brass tacks and
if they weren’t they’ll get stuck and
then you can say oh this person was not
really the person who solved it because
anyone who struggled hard with a problem
never forgets it if you’re creating
company or if you’re joining a company
the most important thing is to I extra
is to attract great people so either be
would join a group that’s amazing that
you’ve really respect or if you’ve
building a company you’ve got to gather
great people I mean all the company is
is a group of people that have gathered
together to create a product or service
and so depending upon how talented and
hardworking that group is and degree to
which they are focused cohesively in a
good direction that will determine the
success of the company
so do everything you can to to gather
great people if you’re creating a
company you got to make sure that
whatever you’re doing is a great product
or service it has to be really great and
I go back to what I was saying earlier
where if you’re a new company I mean
this it’s like some new industry or new
market that if it’s an untapped market
or then
you have more ability to give is this
the standard is lower for your product
or service but if you’re entering
anything where there’s an existing
market place against lodge and trenched
competitors then your product or service
needs to be much better than theirs it
can’t be a little bit better because
then you put yourself in the shoes of
the consumer and they say why would you
buy it as a consumer you’re always going
to buy the trusted brand unless there’s
a big difference so a lot of times you
know entrepreneur will come up with
something which is only slightly better
and it’s it’s not you can’t just be
slightly better it’s got to be a lot
better depending on how well you want to
do in particularly for starting a
company you need to work super hard so
what is super hard mean well when my
brother and I was starting out first
company instead of getting an apartment
we just rented a small office and we
slept on the couch and we shower at the
YMCA and we’re so hot up we had one
computer so the website was up during
the day and I was coding at night seven
days a week all the time and I sort of
briefly had a girlfriend in that period
and in order to be with me she had to
sleep in the office so I work hard like
it mean every waking hour that’s that’s
the the thing I would I would say if
your particular if you’re starting a
company and I mean if you do simple math
to say like okay if somebody else is
working 50 hours when you’re working 100
you’ll get twice as done as much done in
the course of a year as the other
company
thank you guys so much for watching I
love to hear what you think about Elon
Musk is an entrepreneur in the comments
below if you want me to make a
compilation video of another
entrepreneur leave a comment and let me
know who you want me to make that video
about and don’t forget to subscribe to
the channel and the newsletter believe
thank you guys so much for watching I’ll
see you soon
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