Or what they don’t teach you at Harvard Business School
Elon Musk views the world a little differently than most entrepreneurs.
Of course, he is a genius, reads hundreds of books, and has massive resources, but we can still learn a thing or two from him.
Here are some quotes, that if reflected upon and applied will help you in your entrepreneurial journey.
“Good ideas are always crazy until they’re not.”
Throughout history, visionaries have come up with some pretty wild and crazy ideas.
From the world is round to gravity to radio.
But from all of this craziness, there are always one or two ideas that rise to the top and change the world.
Spend some time coming up with 10 new ideas for products or marketing or side hustles every day and see if you can find the one or two crazy ones that just might change your life.
“When something is important enough, you do it even if the odds are not in your favour.”
We all have them and we all follow them.
But sometimes we need to choose the most important thing to do that will really make a difference.
We may be bucking the odds, but there is usually one thing that will help you really move ahead if done and done well.
“It is important to view knowledge as sort of a semantic tree — make sure you understand the fundamental principles, ie the trunk and big branches, before you get into the leaves/details or there is nothing for them to hang on to.”
Learning a new skill or field can be tough.
But all fields have fundamental principles that should be learned and learned well.
After you have mastered the basics and see how they intertwine to make up this body of knowledge, you can go deeper into your studies for mastery.
“My proceeds from the PayPal acquisition were $180 million. I put $100 million in SpaceX, $70m in Tesla, and $10m in Solar City. I had to borrow money for rent.”
Invest your money in new ventures, skills, and projects.
Even if you are taking a risk and can’t afford rent, like Elon.
Just make sure you are investing in something with tremendous upside and very low downside.
“You should take the approach that you’re wrong. Your goal is to be less wrong.”
Edison ‘failed’ more than 1,000 times in his search for a light bulb filament.
You get better at anything the more times you try and the sooner that you can get all of your so-called failures out of the way, the better.
Don’t be afraid to make many experiments, increasing your chances of success in any field.
“You get paid in direct proportion to the difficulty of problems you solve”
Large problems come with a huge payday.
There is always a barrier of entry to the more highly paid tasks and they usually come with bigger problems.
Easy problems have easy solutions that anyone can come up with.
But the true gold lies in the deeper mine of hard-to-define and hard-to-solve problems.
- Come up with 10 new wild and crazy ideas every day
- Find and do the most important thing daily
- Learn and practice the basics by heart
- Don’t be afraid to take worthwhile risks
- Try hundreds of experiments
- Find and solve life’s tougher problems
Take these quotes to heart and use them on your road to even greater success, in business and life.
Mr. Musk is obviously doing something right.
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