Elon Musk is a business magnate, an entrepreneur who dares to explore new territories, and takes the neccessary risks to get needed results. He is the founder, CEO of notable companies such as SpaceX, Tesla, Inc. and now owner and CEO of Twitter, Inc, a recently closed deal of $44 billion. There is definitely so much that can be learnt from the founder and investor. As the man of the moment, we decided to share a compilation of some Elon Musk quotes that should inspire you as a business owner.
Here are the 15 quotes from Elon Musk on business and entrepreneurship:
1.“If you’re building a company, you’ve got to gather great people. I mean, all a company is a group of people that have gathered together to create a product or service. So depending upon how talented and hardworking that group is, and to the 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 gather great people, if you’re creating a company.”
2.“there are examples of successful entrepreneurs who never graduated high school and there are those that have Ph.D.’s. So I think the important principle is to be dedicated to learning what you need to know, whether that is in school or empirically.”
3. “A lot of times, people think creating companies is gonna be fun. I would say it’s not. It’s really not that fun. I mean, there are periods of fun. And there are periods where it’s just awful. And particularly if you’re CEO of the company. You actually have a distillation of all the worst problems in a company.”
4. “It’s ok to have your eggs in one basket, as long as you control what happens to that basket.”
5. “If you’re a co-founder or CEO, you have to do all kinds of tasks you might not want to do. If you don’t do your chores, the company won’t succeed. No task is too menial.
6. “Some people don’t like change, but you need to embrace change if the alternative is disaster”
7. “It’s very important to have a feedback loop, where you are constantly thinking about what you’ve done and how you could be doing it better. I think that’s the single best piece of advice- constantly think about how you could be doing things better and questioning yourself”
8. “Great companies are built on great products. When the product starts to become shoddy and uncompetitive, so does the company.”
9. “Pay attention to negative feedback and solicit it, particularly from friends. Hardly anyone does that, and it’s incredibly helpful.”
10. “Failure is an option here. If things are not failing, you are not innovating enough.”
11. “If something is important enough, even if the odds are against you, you should still do it.”
12. “I do think there is a lot of potential if you have a compelling product and people are willing to pay a premium for that.”
13. “Numbers will never compensate for talent in getting the right answer (two people who don’t know something are no better than one), will tend to slow down progress, and will make the task incredibly expensive.”
14. “Starting and growing a business is as much about the innovation, drive, and determination of the people behind it as the product they sell.”
15. “Brand is just a perception, and perception will match reality over time. Sometimes it will be ahead, other times it will be behind. But brand is simply a collective impression some have about a product.”
With a net worth of over $200 billion, Elon Musk is considered to be the wealthiest person⊆ in the world, and his experience in business is a valid source of inspiration to many. We believe that if you are looking for how to realign and reconnect with your values in your entrepreneurship journey, these quotes should come in handy.
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