4 New Rules for Entrepreneurs in 2022 - Nokristart
Showing posts with label Success. Show all posts
Showing posts with label Success. Show all posts
Tuesday, August 30, 2022
Friday, August 26, 2022
Top 100 ways to make money online in 2023 - Nokristart
Muhammad Ahmad
August 26, 2022
0
Top 100 Ways to Make Money Online in 2023 - Nokristart
Wednesday, August 24, 2022
10 Crazy Online Ideas That Actually Work - Nokristart
Muhammad Ahmad
August 24, 2022
0
10 Crazy Online Ideas That Actually Work - Nokristart
The beauty of the Internet is definitely related to its lack of rules. Anyone can create a website with any idea in mind. This means the number of crazy things you'll see around you is overwhelming, but some crazy ideas work.
1.MillionDollarHomepage.com
Selling pixels on a website is ridiculous, but when it comes to the Internet, ridiculous ideas have always been the key to making absurd amounts of money. For Alex Teo, selling pixels on a website was to help him pay for college. Little did he know that it would do more than that. It would help him get a head start in life, and now the young man is worth over a million dollars. Interviews on major news networks and more publicity than the 21-year-old would know what to do with him, and soon others tried to get his idea. Now it's ridiculously, ridiculously successful.
2. SantaMail.org
Every year, convincing children that there is an honest Santa Claus somewhere at the North Pole becomes harder. However, no child would argue if they received an answer directly from Santa, and armed with this idea, Byron Reese set out to become an honest Santa Claus for children around the world. Through the SantaMail.org website, children could send letters to 'Santa' at the 'North Pole. A personalized response from Santa will cost parents $9.95. That may sound like much once you multiply it by the 300,000 responses Santa sent last year.
3. Shitmydadsays
What do you get when you combine an unemployed writer who lives with his parents, a parent who makes enough sarcastic comments to make an adult cry and a Twitter account? In Justin Halpern's experience, you get a mention on The Daily Show, a book deal, and, last but not least, a sitcom deal. Just 30 days after the author posted his father's 'wisdom' on his Twitter account, Justin Halpern was on his way to a successful life without even trying.
4. WhereisGeorge.com
We are always told to wash our hands after handling money because we don't know where the money has gone. You can find out where your money has gone by logging on to WheresGeorge.com. This website lets you track your money by entering zip codes and currency serial numbers. If the person who had the bill before you has already done so, you can see where your money went. If the next owner does the same, you'll also be able to see where the bill is. The website tracks nearly 200 million invoices worth over a billion US dollars.
5. PickyDomains.com
At the beginning of the 'dot com' era, you could get thousands of dollars for a domain name if you got the right people's attention. Dmitri Davydov's online success was much the same, except he received a paltry fifty dollars for every domain name he could think of. Buyers liked it because it was risk-free, and they didn't have to pay anything if they didn't like the name. Dmitri liked the idea because every domain name he sold meant fifty dollars, which he enjoyed. Soon, the San Francisco Chronicle picked up his story, and with fame came more customers. Crowdsourcing became the next step for Dimitri, and the rest is history.
6. FindAGrave.Com
Meeting famous people is a spooky pastime. Meeting them after their passing is Jim Tipton's idea of success. When Jim's "tombstone tourism" came to an abrupt halt when he ran out of dead celebrities to visit in his hometown of Utah, he started FindAGrave.com. A site dedicated to locating the graves of people buried anywhere within the United States; more than enough people were happy to use the site, and soon, genealogy research and other paid services were also offered on the website.
7. Doggles.com
It may be the most useless invention in the world, but for Ken and Ronnie Di Lulu, this crazy idea made millions. Most dog owners would never have thought of buying sunglasses for their dogs, but when Douglas began to be marketed as a shield against ultraviolet radiation, thousands of dog owners bought one for their dogs and came to get a pair. The result? Handsome dogs and two new members in the millionaires' club with a chain of stores in 16 countries worldwide.
8. GeesePoliceInc.com
It may not be an online business, but with the help of the Internet, David Marks was able to turn a relatively simple idea into a $2 million-a-year business. In the 1980s, David noticed two things while working on the golf course. First, the wild geese proved a nuisance, and second, the Border Collie was exceptionally effective at repelling these birds. Putting the two together, David Marks started his business, which now consists of 27 trucks and 32 dogs, to bring wild geese anywhere.
9. BugMeNot.com
Most Internet users will agree that there is nothing more annoying than having to register to access a site that is already free. However, no one would agree with this fact more than Guy King, so he decides to do something about it. BugMeNot.com is a free web service started by King to provide quick logins to free sites (such as YouTube.com or NYTimes.com). The site was a huge success, as many users wasted time on pointless registrations. Process and expose your email addresses to spam. Ironically, BugMeNot.com only got publicity because they tried to shut it down in 2004. After mentioning the fact in Wired magazine, the website gained even more attention and soon spread to other places like Retailmenot.com.
10. Shopping Cart Abuse.Com
Only a madman would fall in love with such an idea. Fortunately for the owner of ShoppingCartAbuse.com, plenty of wackos are out there. According to the website's description, "The Center for Shopping Cart Abuse Prevention is an organization dedicated to preventing shopping cart abuse." Along with the t-shirts and other business interests, the website became an instant hit and even some Hollywood celebrities couldn't resist being a part of the 'campaign'.
Wednesday, August 3, 2022
Warren Buffett's Top 10 Rules of Success
Muhammad Ahmad
August 03, 2022
0
Warren Buffett's Top 10 Rules of Success
He is one of the most successful investors, philanthropists, and business tycoons and a billionaire worth over $70 billion. Since 2017, Warren Buffett has been considered the second richest man in the world and is famous for his investment advice and strategies.
Many people model his success and want to learn his strategies to build massive wealth. In this article, you will discover Warren Buffett's top 10 rules for success.
Buffett was born in Omaha and developed an intense passion and interest in business and investing in his youth. He graduated from Columbia University and learned his investment philosophy from another great investor, Benjamin Graham, who is famous for his principle of value investing.
Buffett's company, Berkshire Hathaway, owns more than 60 companies, including Geico, Dairy Queen, and Duracell. While most young people have a good time playing games, Buffett started his career as an investor. He bought his first stock at age 11 and filed a tax return at age 13.
Along with his best friend Bill Gates, the richest man in the world, Buffett launched The Giving Pledge, asking billionaires to donate their wealth. Facebook founder Mark Zuckerberg was one of them. Buffett believed in giving back and pledged to donate over 99% of his fortune to charity. To date, he has given nearly $32 billion to charity.
So, how was Warren Buffett able to produce such a fantastic outcome in his life, amassing massive wealth and creating outstanding success in his investing career? He has a particular set of principles and philosophies regarding making a decision, investing, running a business, and succeeding in life. These principles of success can be summed up with the top 10 rules below.
1. Find your passion
Almost all successful people agree that finding and following your passion is important if you want to produce amazing results in life. Warren Buffett is also convinced of this. During an interview, he confided that he had been lucky enough to discover what he liked to do from an early age. He said that once people find their passion, their lives will change.
There's no guarantee you'll be able to find your passion in your first job, but you have to keep digging until you find it.
Passion is the only way to produce exceptional work. Without passion, you will do things with a half-hearted approach, and there is no way to become the best that way. So, find your passion, do what you love, and you can produce incredible success in life when you do.
2. Recruit well
If you want to be a billionaire, you can't do it alone. You have to have a good team, and to have a good team, you have to learn how to recruit well. Always remember that you cannot succeed in this world alone. You need the help of others to bring you the success you want. Your employees will be your greatest assets.
Buffett emphasizes three qualities when hiring: integrity, intelligence, and energy. Buffett also said that integrity comes first out of these three qualities. He jokingly said that you don't want to hire someone who has no integrity but a lot of intelligence and energy. Integrity comes first. Without integrity, other qualities don't matter.
Buffett is famous for saying, "It takes 20 years to build a reputation and five minutes to ruin it." He firmly believed that to build a billion-dollar company, you must hire someone with integrity. This is because people have to manage money in business. And if you hire people with no honesty, many problems will arise.
3. Don't care what other people think
Buffett's third rule of success is that he doesn't care what other people think. This is extremely important because if he wants to consider what others have to say, his decision will be influenced, and he will never be able to cling to his investment principles. If Buffett were to listen to what others were saying, he would become like most people, living an average life rather than living like a billionaire, and become such a successful investor.
The same goes for you. When it comes to achieving the success you want and living your dreams, some people will tell you that it is impossible to achieve what you want and simply suggest you get a real job... Never listen to the opponent.
Warren Buffett is known for the concept of the "circle of competence," which he used to focus his investments on operating only in the areas he knew best. The concept basically explains that each of us has developed useful knowledge in certain areas, and we need to operate in those areas that we are good at. So ignore what others have to say about the rest.
It is human nature to want to be assimilated and accepted by others. However, this will cause you to worry too much about what others think and say about you. It will also prevent you from living your best life on your own terms. When you care too much about what others think and say about you, you will restrict your freedom and always be their prisoner.
4. Read, read, read
It said this billionaire reads about 5-6 hours a day and about 6 newspapers every morning. The more you read, the wiser you will become and the more knowledge you will get.
Your skill will help you make better decisions that will lead you to success.
Before investing in businesses, Buffett often read Benjamin Graham's "The Intelligent Investor.". Successful people are great readers, and you must adopt the same habits.
Reporters asked SpaceX CEO Elon Musk how he learned to build rockets. Elon's response was simple: "I read books." Reading helps one learn more about the world and become more open-minded.
So, commit to reading every day. If you are busy and need more reading time, start small and read 15 minutes daily. Go for more. Read for at least an hour a day. You can wake up earlier and make time to read or make good use of your commute time to read.
5. Have a safety margin
The concept of a "margin of safety" originated in Benjamin Graham's teachings. Warren Buffett, Graham's most successful follower, learned the concept and used it in his investment portfolio.
The concept is easy to understand, and Buffett often explains it using the metaphor of driving over a bridge. When you build a bridge, you insist that it can carry 30,000 pounds, but you only drive 10,000-pound trucks on it. Thus, you have a safety margin of 20,000 pounds.
When it comes to investing, you'll never buy a $50 million company for $60 million. You will buy the company worth $50 million at a lower price than this to ensure a margin of safety. In banking, a bank will never lend you money if you can barely pay the interest each month. The banks will ensure that you have an extra to pay the loan installment in case something goes wrong.
This concept is central to the principle of value investing. It helps investors make better and wiser decisions before they buy a stock. When an opportunity comes your way, evaluate it using the concept of a margin of safety before deciding.
6. Have a competitive edge
Buffett said capitalism is someone coming in and trying to take the castle. In the business world, your company must have a sustainable competitive advantage to survive in the long term.
Today's competition is tough, and people can copy exactly what you do, produce the same product, and put you out of business. That's why having a competitive edge is essential to protect your business, just as a moat protects a castle. Buffett said he would invest in companies with a competitive edge because he wants to ensure the company will still be around years from now.
So ask yourself: What are you good at? How can you make your product so unique and special that other people can't copy it? What kind of service can you provide to your customers that can act as your competitive advantage, make your business flourish, and help you become the industry leader?
7. Plan your personality
One of the rules that ensured Buffett's success was that he built his businesses around his personality. Buffett said he doesn't like meetings and builds his businesses how he wants and loves. He also mentioned that to succeed in what you do, you have to find your rhythm and sweet spot to enjoy your work and perform at your best.
Buffett loves to read and chooses to read to improve his knowledge. Then, he acts as a strategist and runs his business from behind the scenes. You should do the same if you want to perform at your peak level.
Well, not everyone can be like Warren Buffett and spend five hours reading every day, but you can plan your work around your personality. If you like to have a cup of coffee before you start work, do it. Organizing your workspace according to your own taste will make you more productive. The key is to play to your strengths and personality so you can become the best at what you do.
8. Always be competitive
Buffett thinks one of the most common killers in business is complacency. When people fall into their comfort zone and fail to improve their competitiveness, their companies will eventually fail or be taken over by competitors.
And to stay one step ahead, you always have to compete. Every business has problems in every industry. Buffett believes the key to success is its ability to compete and stand out from the crowd. When IBM stock fell significantly, Buffett said IBM didn't perform as he or management expected. He also said that IBM is a significant and robust company with a big and powerful competitor. And IBM must improve and innovate to continue to thrive in its business.
Buffett also said Geico had added 700,000 policyholders over the past year, far outpacing receding competitors. That's why he invested in Geico, and the business continues to thrive because it is still in the competition. Therefore, never rest on your laurels. Stay competitive, and keep improving and innovating in your business.
9. Success Model
There is only one way to succeed in this world. If you want to succeed in life, you need others. You need to model other successful people, or better yet, find yourself a mentor. This is why Warren Buffett learned from Benjamin Graham and worked for him as a disciple.
Look at the sports industry; every outstanding and professional athlete has a coach. Tiger Woods has a trainer. Michael Jordan has a trainer. Usain Bolt has a coach. You need a coach to guide you on your journey to success. Your coach can also remind you of your goals and encourage you to do your best.
A mentor in business is considered one of the most important keys to success. When Steve Jobs started, he learned and received a lot of business advice from Mike Markkula. The same goes for the famous motivational speaker Les Brown. When Les was young, LeRoy Washington guided and mentored him to achieve the best in his life. Les Brown was called "educable mentally retarded" at school, and one day his mentor, LeRoy Washington, said something to him that changed his life. He said to young Les Brown:
"Don't let someone's opinion never become your reality."
So, find a mentor or coach to guide you in your business and life. Success leaves clues, and to produce a great result, you need to model the success of others. Learn and study from others, then improve to become better.
10. Give unconditional love
Finally, Warren Buffett believes unconditional love is the most potent force. And the unconditional love he received from his father, Howard Buffett, a US congressman, made Warren who he is today.
Buffett says his father believes in and supports him in everything he has done. Whatever Buffett has done, no matter how much money he has made, his father will tell him to do his best in whatever he tries. That is why Buffett believed he could produce excellent results in his life. He also suggests that anyone wanting to succeed should give unconditional love.
While this last Warren Buffett rule of success has nothing to do with a trading strategy, it has much to do with your personality and beliefs. As a philanthropist, Buffett believes in helping society and giving back to the world. He always seeks to help and to give rather than to take. Operating with a giving and helping mindset puts your customers first, making a business thrive.
Monday, August 1, 2022
10 Principles of Success to Learn From Donald Trump
Muhammad Ahmad
August 01, 2022
0
10 Principles of Success to Learn From Donald Trump
Donald Trump is a well-known figure in real estate and business. He earned his degree in finance from the Wharton School and inherited a third-generation entrepreneur from his family. He is also famous for his “Think big” quote. He has authored numerous best-selling books, executed multi-billion dollar real estate deals, and created and produced The Apprentice television series for 12 years and more than a year ago.
Trump has had some notable real estate successes. He first appeared on the Forbes World’s Billionaires list in 1989. Today, Forbes estimates Trump’s net worth at $3.5 billion, making him one of the richest politicians in American history.
1. Work Really Hard
Donald Trump believes that the harder he works, the luckier he gets. And he’s absolutely right. Many people think that the rich and successful can do what they want and can wake up whenever they want. This is completely untrue. The rich and successful are hard workers and rarely take time off.
That’s all I need, and it gives me a competitive edge. I have successful friends who get ten hours of sleep a night, and I ask them, “How do you compete with a country like mine if I only get four hours of sleep?” They can rarely do it. No matter how smart you are, there isn’t enough time in the day.”
Of course, this is not unique to Trump. Many other successful people follow the same model of hard work. They work really hard and rarely take time off. Bill Gates, one of the world’s wealthiest men, once told the Daily Mail in an interview in 2011, “I haven’t taken a day off in my twenties. Not one of them. And I’m still a fanatic, but now I’m a little less fanatical.”
So, work hard for your dreams and desired success. There is no free workout in this world, and if you want to get excellent results, you must work hard.
2. Don’t do it forMoneyMoney
Most people have a hard time succeeding and achieving significant results in life because of a negative focus. They chose to do it for money. Think about it, wealthy and successful people don’t make this money because if they did, they would have quit and quit when they made their first fortune from their business to enjoy life.
Chances are successful people like Donald Trump, Bill Gates, Warren Buffett, Steve Jobs, and many others don’t do it for money. For this peoMoneymoney is just part of their hard work and theyMoneymoney to maintain points. The more and more they produce, the Moneymoney they will have. They understand this and thus never workMoneymoney.
If money is your priority, you will miss out on other important success factors, such as creating value to help others. If people see you as someone trying to get every penny out of them instead of helping them, they will never do business with you.
3. Focus on What You Do Best
In the early 1990s, when Trump amassed a fortune from his business ventures, he lost focus because he wanted to do too much at once. Many went to him asking for business deals. When the market crashed, Trump went deep into debt, and some of his companies had to file for bankruptcy. But that didn’t stop him from moving on and continuing to do what he does best in real estate.
Trump once told reporters that when times are tough and everyone around him fails, it’s hard for him to survive. So he decided to do one thing: focus on what he did best. As he began negotiating deals and building the business, things started to improve. Eventually, he got out of debt and came back even bigger. Trump wrote a book about his comeback in 1997, “The Art of the Comeback.”
So, choose to focus on what you do best. Michael Jordan is a great basketball player. What do you think would happen if he tried to play golf and tennis at the same time? He will lose focus and spread his effort to maturity. That’s why focus is crucial if you want to be successful at what you do.
4. Hire Great Employees
Donald Trump believes that to do well in your company, you must hire great employees. First, you can never be successful if you do everything. You have to make the most of it and get help from others. And when hiring, choose to hire great employees rather than good or average ones.
According to Trump, excellent and average workers will do things like most people. They won’t take you to a higher place, but they’ll just do their thing on it. You can’t fire them for doing their job, but they will never work and bring you great success. So hire great people instead of average and good people.
5. Believe in yourself
You have to think of yourself as a winner to be a winner. If you don’t feel like a winner, it just won’t happen.” This is what Trump told his audience during one of his speeches.
You must understand that your journey to success starts and ends with you. Sure, like Trump, there will be others to help you along the way. However, with Trump, Trump Tower existed. Thousands helped build the big tower, but Trump made the dream come true.
When he retired at age 65, he received his first social security check for $105.Colonel Sanders then took the plunge and marketed his fried chicken recipes nationwide. He knocked on doors and traveled for miles to sell his recipes. He sold his fried chicken recipe that became Kentucky Fried Chicken today. The only thing that kept Colonel Sanders going without giving up was that he believed in himself.
6. Think Big and Dream Big
I like to think big. If you’re thinking about something, you might as well feel more significant.” Highly successful people choose to think big. Ordinary and unsuccessful people are afraid to think big because they fear failure and rejection.
Elon Musk has the vision to replace electric cars worldwide and make Earth a better place to live. He made it possible through Tesla. Today, Tesla’s worldwide sales exceeded 250,000 units as of September 2017. In addition to that, Elon also envisions conquering Mars. The idea may sound crazy to many, but his big dream made SpaceX possible. As quoted by Donald Trump, since you would be thinking anyway, why not just think big?
7. Leverage Your Success
Donald Trump said, “The best way to impress people is through results. It’s easier for me to make deals now because I’ve got so many victories. You have to create success to make an impression in the business world. If you are young and haven’t succeeded yet, you need to create a success mindset. It doesn’t matter if the success is small or big; you have to start with something and build on it.”
He believes that success leads to more success. Things will be difficult initially because you are nobody, and most people don’t want to do business with you because you are unsuccessful. That’s why you need to capitalize on your success. Start small and build results. Use it to make even bigger and better results when you get a good result.
Before you “make it,” most people will call you a liar, a fraud, and a liar. After you become successful, people will call you a visionary and a leader. So, it doesn’t matter what people call you at first; what really matters is that you choose to believe and set out to reach. Every master used to be a beginner, and you have to start somewhere. So, choose to think and see yourself as successful all the time.
8. Follow Your Heart
People will often think that what you are trying to do is impossible and that you are trying to avoid the “truth.” Your parents may say you are wrong, or your friends may think you are just a dreamer, but no matter what people tell you, you must follow your heart and do what you feel is right.
When the Wright Brothers tried to build an airplane, people thought they were crazy. They were just bicycle dealers; how could they build something that could fly? Instead of listening to the naysayers, they chose to continue to follow their instincts with their hearts. Today, you can fly from London to New York in about 8 hours thanks to the Wright Brothers, who were willing to follow their hearts and stand up to the naysayers.
9. Never Give Up
You can change and move, but you never give up.” This is what Trump told his audience in a speech. Trump believes that successful people are not competent or people with higher education degrees but that successful people are just refusers.
A winner will never quit, and a quitter will never lose. You must remember that if you give up or quit, you will waste all the effort and time you poured into your effort. Too many people stop and give up too soon.
Napoleon Hill, the famous and best-selling author of “Think and Grow Rich,” writes in his book that before success comes into any man’s life, he will surely encounter temporary wins and failures. And when defeat comes to a man, the easiest way to do it is to stop. And this is precisely why most people fail to achieve the success they seek in life. Only those who keep at it and never give up will taste the reward of success.
10. Love What You Do
Trump says you have to love what you do if you want to be successful at it. As any exceptional person says, if you are passionate about what you do, you will work harder for it. Plus, even if you encounter hard times on your journey, you will keep going because you love doing it. You’re not doing it for money or anything; you’re doing it because you love it.
Steve Jobs said the same thing in his commencement speech at Harvard University: “Your job is going to take up a huge chunk of your life, and the only way to be truly happy is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t come and stay.”
Prolific people succeed because they are passionate and love what they do. You should do the same. Find the passion in what you do and learn to love your work. When you are passionate, you will do more, perform better, and succeed.
11 Best Principles to Learn from Elon Musk
Muhammad Ahmad
August 01, 2022
0
11 Best Principles to Learn from Elon Musk
When talking about entrepreneurs who have revolutionized and changed the industry, Elon Musk is always mentioned as one of the most daring and successful entrepreneurs in the world. He is a billionaire and the CEO of Tesla and SpaceX, and he has earned a reputation as a "true iron man" in business.
Elon made his first pot of gold by buying PayPal from eBay. He made hundreds of millions from the deal and then decided to build electric cars and rockets. So he launched Tesla and SpaceX, and both companies shook up the entire business world.
There are many things you can learn from Elon Musk. In this article, we will discuss 11 principles of success that you can learn from this "iron man" in the business world.
Principle #1. Hard work
Elon Musk is known for his ability to work hard. When he and his brother founded the company that eventually became PayPal, they lived and slept in a small office and showered at the local YMCA.
During the interview, he says: "Work like hell. You need to put in 80-100 hours a week. [It] improves success rates. If other people are putting in 40-hour work weeks and you are putting in 100-hour work weeks, doing the same thing, you know... you will achieve in 4 months what it took them a year to achieve. "
Over the years, Musk started with Zip2, and then X.com eventually became PayPal. Now, he focuses on Tesla and SpaceX. In modern times, Musk is among the few successful entrepreneurs who have significantly impacted various fields and industries. How do you think he did it? He did it with many sleepless nights and spent most of his time running and managing his business.
So, learn from Elon Musk and work hard like him. It may not guarantee your success, but it is a prerequisite for success.
Principle #2. Dare to take risks
When Musk sold PayPal to eBay, he made hundreds of millions from the deal. This is a lot of money for most people, and many would stop there. However, this was not the case with Elon Musk, who continued to strive and invent and eventually settled into building rockets and started an electric car company.
When he started SpaceX, he took many risks, even borrowing to pay rent and living expenses. Musk also advises others to take risks while they're still young. She says, "When you have a family, it's hard to do things you don't do."
Musk dares to break into a new industry, take risks, and do the impossible. As a result, his success and rewards are much greater. His ventures into investing in SpaceX, Tesla, and Sun City, a company focused on renewable energy, particularly solar power, have yielded significant success.
Principle #3. Never fear failure
When Musk started Tesla, a company focused on mass-producing electric cars for consumers, he thought he would fail. When an interviewer asked him why he started a company he didn't feel would succeed, he replied, "If something is important, you have to try even if it fails."
For Tesla, Musk wanted to prove that electric cars are slow and ugly and get away with it. It's not easy because it involves changing people's attitudes, but somehow, he managed to do it. The Model S sedan ranks first in Consumer Reports' annual customer satisfaction rankings.
Every entrepreneur needs to understand the meaning of failure and learn from Mask. The first three rocket tests were failures, but Musk did not give up and continued to refine the strategy until SpaceX successfully launched its fourth rocket into space.
When you fear failure, you will hold back and never dare to do something to your full potential. That is why you should not fear failure when you have significant and extraordinary success. Instead, try to act like you can't fail.
Principle #4
Who would dream of colonizing Mars one day? Very little. Who would have the idea to build a rocket and send people into space? When it comes to thinking big and bold, Elon Musk is the real deal.
Musk is bold and direct about business. When Zip2 started, it envisioned an Internet banking business that would "rule them all" in the early days of the Internet. After building successful Internet startups, he had a bold vision to transform the transportation industry and reduce pollution by launching Tesla. He also dreamed of sending people to Mars.
When Musk was about to launch SpaceX, he called his partner Jim Cantrell and said, "I want to change how humanity looks at multi-planetary species." Jim also asked Musk, "Can we meet this weekend?" I have a private jet, and I will fly you home. "
How dare Elon Musk run his company and business? Brave men will do the work. That's why you should learn to be fearless like Elon Musk.
Principle #5. Think outside the box
Elon Musk is someone who thinks outside the box. Before Musk entered the space and aerospace industry, companies like Boeing continued the old work conventions. SpaceX's challenge is significantly reducing the cost of building rockets so that space travel can become affordable for everyone. Musk brought up the idea of reusable rockets, and the recent successful landing of SpaceX's rocket took a big step here.
In one of Musk's speeches, he said, "Don't follow the trend," and his actions borne out his advice. If you look at all the businesses that Elon Musk has started, they are all focused on solving big problems in the market with little competition. PayPal is considered the world's first e-money transfer solution, and SpaceX is the first private company to launch a rocket into space.
Principle #6. Always learning
Do you think Musk has the knowledge to build rockets? He didn't, but he's willing to read and learn as much as possible. And learning, after all, is one of the most important keys to success in life and business.
Most people never read a book after finishing it. This is a big mistake because the moment you stop studying or learning, you become stagnant and soon obsolete. Musk is known for his passion for reading. He is a bookworm and claims to read 500 pages a day.
While at school, he studied more than ten hours daily, reading everything in his library and Encyclopaedia Britannica. He also learned and completed a six-month BASIC course in three days. When it comes to learning and studying, Musk is a great role model for everyone.
Remember, leaders are learners. Robin Sharma, best-selling author of The Monk Who Sold a Ferrari, says, "Ordinary people have big TVs. Extraordinary people have big libraries."
So, if you want to be successful and achieve good results, equip yourself with knowledge. Make it a habit to read daily and commit to consistent study.
Principle #7. Turn criticism into feedback
Everyone needs to learn and get feedback from others to reach higher ground. The problem is that most people prefer to listen to only some of their criticisms or complaints. They just want compliments. However, Musk doesn't see it that way. Criticism and complaints are essential because they can act as feedback to make us better.
Musk says, "I think it's important for people to pay attention to negative feedback, not to ignore it, but to listen carefully." However, that doesn't mean you must accept and listen to every criticism. He also says, "If the root cause of the negative feedback is nonsense, ignore it, or people should adjust their behavior."
Elon Musk could be better, but he says he understands that. That's why he believes listening to positive criticism and complaints is important, especially from people who care about you.
You must learn to take criticism as feedback and use complaints as stepping stones to your success. This may be challenging because no one likes to be told they are wrong. However, you have to be rational to find the opposite.
Principle #8. Deal with the right people
No one can succeed in this world alone. If you want to become an entrepreneur, start a business, or build a company, you need the help and support of others to make it big. In his speech at USC, Musk explains that the most important thing when starting or joining a company is to get great people involved.
Elon Musk says he will interview candidates from time to time. He does this himself because he believes he needs to find the right talent to join his team to grow his company and realize his vision.
In addition, Musk is fearless when hiring fresh talent. He never hesitates to contact young and talented engineers. According to him, an inexperienced team can make mistakes but achieve great results with energy, passion, and dynamic leadership.
Working with the right people is key because if you hire the wrong people, they can bring down the entire company. Big companies like Google, Microsoft, and Apple can grow at such an amazing rate because they hire the right talent and work with the right group of people.
Principle #9. Be very optimistic
All successful people are very optimistic. The same goes for Elon Musk. He is known for setting impossible deadlines and demanding up to 90% layoffs from his staff. The same thing happened with the late Steve Jobs. Jobs often created impossible deadlines and asked their team to do extraordinary work.
Sometimes, things may seem impossible, but you only know once you do. When Musk decided to launch Tesla and build electric cars for the world, many people, including bystanders, rejected his idea. However, Musk remains optimistic, and he has done so. Many people think Musk is crazy to launch SpaceX and want to colonize Mars, but his optimism keeps him going.
You have to be positive and look on the bright side when you achieve something extraordinary. When people don't believe something is possible or reject your idea because they think it's crazy, you're often on the right track to something great.
Principle #10. Never give up
SpaceX's first three rockets were failures. All three rockets exploded, leaving more than 300 SpaceX employees heartbroken. Employees also fear that the company will be shut down because SpaceX has run out of capital for the next launch.
At this point, Musk got up and spoke to the crowd. He told his team that he was raising further investment for SpaceX so they wouldn't have to worry about continuing their missions. At the climax of his speech, he says, "For me, I will never give up, and I never will."
Finally, the fourth rocket launch proved successful. On September 28, 2008, Falcon 1 became the first personal rocket to reach Earth's orbit.
No matter what dreams or goals you want to achieve in life, you should never give up on them. There will be those who say it cannot be done. There will be times when things are complex, you feel like giving up, and there will be times when you want to give up but don't.
Learn from Elon Musk. No matter how hard it is, don't give up. Learn to leap forward and strive forward.
Principle #11. Enjoy life and celebrate success
Elon Musk is very focused and determined in business, but he is also a party-goer who knows how to live and enjoy life. Despite his reasonable working hours, he knows how to throw parties and enjoy himself. While still in college, he turned his hometown into a nightclub and used the money he earned to pay for college.
After receiving his share of the first startup sale, he immediately bought a 1,800-square-foot condo and moved out of the apartment he shared with three other people.
Not only that, but in his 30s, he rented an English lounge for a party of 20 people and secretly played games until 6 a.m. Musk also performed tricks on Sand Hill Road while heading to an uninsured McLaren F1 investor meeting. He crashed the sports car, which was worth about 1 million dollars.
Sometimes, you just need to enjoy life. Life should be fun and not just about work or business. You need to learn to indulge in joyful activities you genuinely want. Take it as a task to replenish and renew.
The same is true of Jack Ma, one of China's wealthiest men and the founder of Alibaba. You can see him dressed like Michael Jackson, singing, acting, and filming kung fu movies. When the reporter asks why he does the things he does, he says there's a part of him that's always fun, and he wants to entertain himself and others.
You have to work hard and try hard. Celebrate your victories so that you are inspired to keep going and achieve more. Finally, life is short, so learn to have fun with it.
