people want to be more like you and
therefore the fate of humankind I think
it would be great to have more Elon
Musk's so what do we need to do to
become more like Elon Elon Musk people
call him the real-life Tony Stark right
one of the greatest entrepreneurs of our
time now regardless is he perfect of
course no one is perfect I'm not perfect
Elon is not perfect and he made some
mistakes absolutely you know smoking a
joint on Joe Rogan maybe you've seen
that video on Joe Rogan it doesn't
matter he is one of the entrepreneurial
geniuses of our time so today we're
going to talk about the nine rules the
nine talk rules of success from Elon
Musk
well I mean I seem to have a high innate
drive and that's been true even since I
was a little kid you know really had a
very strong Drive I think most
successful people they are successful
because there's this internal drive they
have this internal fire you know this
this fire under the belly this they want
to do something that they want to create
something they want to make something
great they want to do something no one's
ever done before right they don't want
to settle they don't just want a
nine-to-five they want greatness right
they don't need to watch motivational
videos to be motivated they are
self-motivated no one has high
expectation for Elon that Elon Musk
himself I spend about half my time on
SpaceX about half on Tesla to be precise
and and like a normal week would be
Monday at SpaceX then Tuesday Wednesday
at Tesla Thursday and half a Friday at
SpaceX and then the remaining half of
Friday is at the Tesla design studio
which is adjacent to SpaceX and then the
weekend zone with my kids
Elon Musk manages his time very very
wisely while you have to when you are
running to massive companies when you're
involved with projects of debt big right
debt huge then you have to manage your
time the good thing is this you and I
you have 24 hours a day seven days a
week 365 days a year you and I were at
the same time that's Elon Elon has the
same amount of time Elon has the same
time resource us you right 24 hours a
day seven days a week 365 days a year
it all depends on how you invest your
time how do you use that time wisely
right how do you use your time
efficiently that is going to dictate how
successful you become between
you know
you
you see a lot of people they look at
Elon Musk and
what he's built today but they don't
know like you said at the time both
companies were very very close to
basically going out of business but you
see where they are today but their
hardship the difficulties the challenges
what Elon has to overcome getting money
growing the business educating the
marketplace when everyone thinks your
success rate is so high chance of you
losing everything it's so high but yet
he was persistent because number one he
was driven but he knows what it is that
he wants to do so you want to ask
yourself how bad do you want it are you
willing to make sacrifices are you
willing to push for piece of beer
regardless in spite of the whole world
things that you cannot do it they doubt
you they don't believe in you but you
still keep moving forward and strive and
achieve your goals it's economics 101
what if you it whatever you incent will
happen so the if you incent one thing
that thing will hit an to happen more
than the other thing you said another
thing that that thing will happen and so
the the economics should favor
innovation and this is particularly
important to protect small to
medium-sized companies because because
it's sort of like trying to grow Trina
forest like it's real hard for a new
company to grow when it's just a
seedling or sapling
it needs a lot more protection then if
it's a giant redwood or something like
that so very important to give support
to small and small to medium-sized
companies on the innovation front and
that they're the ones that that made it
more than big companies you see most
people when they think of being
innovative right do you think of they
think about I want to create something
Neil I want to create something that no
one has ever seen on this planet Earth I
want to do something that's no one's
ever done before I want to create this
technology right I want to have this
invention well I believe there's a
difference between being
inventive and innovative inventive is
you have to be creative you're inventing
a new technology a new product a new
service right and something that no
one's ever done it however being
innovative I believe is something
different I don't consider myself to be
very inventive and their innovative
meaning that I could see things neat in
the marketplace and ask myself how I can
make that a little bit better right how
can I have a new spin or new way of
market this or or add a new feature to
it and you bring it to the marketplace
right oh I see there are so many product
and services but there's this gap in
between there's this need that's not
being fulfilled it's not a brand new
technology but it is a need that's not
being fulfilled then I come out with
interesting or different and unusual
ideas approach to satisfy the needs in
this particular space that's to me
that's being innovative not just
inventive the ability to attract and
motivate great people is critical to the
success of a company because a company
is just that's a group of people that
are assembled to create a product or
service that's the purpose of a company
if you all some of us forget this
elementary truth and so if you know if
you're able to get great people to join
the company and work together towards a
common goal and and you sort of have a
relentless sense of perfection about
that goal then you will end up with a
great product business is a team sports
now in the beginning of your career as
an entrepreneur maybe you're doing
everything yourself I was doing
everything myself right I was doing the
bookkeeping I was selling I was doing
the fulfillment I was meeting with the
customers I was doing everything a
business owner needs to do to keep his
business running however as you grow
really what Elon Musk is saying is it is
it is a group of people having a share
the same values having a vision and
doing something together but the key is
how do you attract good people people
come to me and ask me all the time
how do you be such a great team like I
cannot attract your people I don't know
why I like somehow I don't have enough
do people within my company I always
tell them well chances are if you don't
have good people within your company
you're lousy leader it's a lack of
leadership so the question is not so
much how do you find good people the
question is how do you create an
organization how do you become a leader
that people want to follow how to create
a company that people would want to work
for you and work with you as a team
that's a very big difference it starts
right here not externally not the
marketplace but right here
you
entrepreneurship is not a one-man
endeavor it's very very true right
because that's one person how much
leverage could you have with me or dull
everything it's very much personal brand
driven just like Elon Musk
I am the the visible element I am the
spoke person for my brand but team Dan
Locke is not just dan lock i I played my
part right a small part but the success
of the company it's actually involved a
lot of people involves a lot of
partnerships involves a lot of talents
right it's not just one person although
you see the brand but really is the
people within the organization
that makes the company work the problem
is a lot entrepreneur what what prevents
them from going to the next level it's
that they are control freaks meaning
that they want to control every aspects
of the business
they want to micromanage in stuff
empowering their people inspire the
people giving them the power giving them
the authority giving them the space to
make decisions and do great things they
you want to get a hands in everything
you want micromanage because they want
that control but really that comes from
lack of self-esteem and lack of trust
and if you don't trust your team
how could you empower them to help you
to grow this great company it's
impossible
there's a friend of mine has got a great
saying about creating a company which is
creating turnable the company and have
it succeed is like eating glass and
staring into the abyss so I mean what
tends to happen is it's sort of quite
exciting for the first several months of
starting a company and then then reality
sets in things don't go as well as
planned customers aren't signing up the
technology of the part isn't working as
well as you thought and and then can
that consumers be compounded by a
recession and it can be very very
painful for several years so I think
frankly starting a company you advise
people to have a high pain tolerance
many years ago I had a conversation with
my mentor Dan Pena and he asked me the
question you know Dan what do you think
is the number one quality of a
successful entrepreneur and I would tell
them oh and it's it is idea it is it is
a be able to have a new technology or
better pricing or you all know know you
need a team or or you to be smart or you
need have a good education I gave him a
lot of different answers and he said no
none of those all those are good
qualities for none of those is the most
important quality of an entrepreneur of
a successful entrepreneur is that the
most important quality of a successful
entrepreneur is the ability to endure
pain for a long period of time which is
what Elon Musk is saying do you have to
have high pain tolerance you see someone
who is successful like yellow musk and
you see the glory but you don't see the
blood sweat and tears working for years
without any results working for years
without any praise or recognition right
when you read a magazine from from a
business magazine you see the people who
make it to the cuff of the magazine you
don't see the millions that died you
don't see the millions that lost their
all their money and the companies all
went bankrupt you don't see that you
only see the
glamour side of entrepreneurship and
that's the problem sometimes with I
believe social media you see the glory
but you don't see the guts
most people they give up too soon right
they don't have that tenacity they don't
have high ping tolerance right yeah
first few months it's great you've got a
great idea as I always say all my
problems in life started off as a great
idea right you have this idea anything
gonna do it then all this thing's just
kicked in recession problem technology
customers on and on and on and on your
team like that's what makes an
entrepreneur successful having their
ping tolerance right be able to deal
with stress be able to deal with anxiety
we'd be able to deal with rejection
being able to deal with pain that's a
difficult part I think this may be the
difference of good schools out there but
I think the some of us made the mistakes
at least in my opinion that I see being
made in education is that people the the
teachers do not explain why kids are
being taught a subject you know just
sort of get dumped into math and like
why are you letting math what's the
point of this this seems like some you
know some people like maybe it's I don't
know why I'm being asked to do these
strange problems but you know the why of
things is extremely important because
you know our brain has evolved to not to
discard information that it thinks is
has a relevance so then if on the one
hand youth you'll be asked to memorize
or learn say formulas but you do not
know why this is the case then you have
this cognitive dissonance of it seems
irrelevant but I'm being told to
remember it so I'll be punished so so I
better remember it but so the why of
things is very important and then
picking kind of a problem and then
using various educational tools to solve
that problem like using math or physics
or economics to to solve that problem
is far more engaging than teaching the
tools you know difference between if you
say well we're gonna take apart this
this engine and and see how it works and
put it back together again and then in
order to take the engine apart we need
you know wrenches and screwdrivers and a
winch and allen keys and whatnot and and
I said that and then in the course of
solving the problem of taking the engine
apart and putting it back together
you learn about wrenches and
screwdrivers and all the tools that you
need and then now you understand the
relevance now formal education doesn't
necessary guarantee you success in life
formal education is just formal
education the challenge with a lot of
students of being people going through
school is they think that if I have that
degree or I have that diploma after MBA
then my life is set well is that the
case comment below
but there may may not be the case now I
didn't graduate from university I don't
have a degree right I don't have a lot
of formal education but I do have a lot
of self education right I've read a lot
of books I've had great mentors in my
life I've learned from a lot of
different people so just because if you
don't have a formal education it doesn't
mean that you will not succeed if
anything now I subscribe to the
principle it's what I call in time
learning meeting you learn something
that it's in time there is something you
can implement right now not going to
school not learning a subject that well
how am I gonna implement this when am I
ever gonna use this what I'm learning
right now maybe never instead of
learning something acquiring skills
acquiring knowledge that you can use
right now and get results more
importantly to get feedback so you can
go out there and learn more learn what
is necessary to take your career to take
the business to take your income to the
next level
I did I do try to optimize the
productivity of every game day I think
it's very important to have a feedback
loop like where you're constantly
thinking about what you've done and how
you could be doing it better I think
that's that's that's probably the single
best bit of advice it's just constantly
be thinking about how you can do things
better the last rule is this is to have
a feedback loop a better way of to say
this is listen to your customers listen
to your clients listen to your prospects
what do they want what frustrations do
you have are you listening are you
understanding about their needs how can
you solve their problems better than
anybody else how I calculate fulfil
their needs better than anybody else
that's what business is about business
about understanding what the marketplace
wants have that feedback loop right
nowadays even you co-create your product
where you actually work with the
customers to create something that is
for them this way they will like it more
they're more likely to refer and they'll
buy more from you so there you go those
are the top nine rules for success from
Elon Musk comment below if there are
other people that you want me to comment
on that you want me to share with you
their rules of success I love doing
these type of videos and also go watch
this video that I have done for Bruce
Lee Bruce Lee's top nine rules of
success go ahead click on that
