5 Truths Entrepreneurs Can Learn From Elon Musk

No one said the life of entrepreneurship was easy or that sudden success was automatically guaranteed.

If you’re considering following your passion and building the business of your dreams, you might want to sit down and learn a lesson from Elon Musk.

Here are five truths as offered by the master of entrepreneurial vision himself:

“When something is important enough, you do it even if the odds are not in your favor.”^[1]

Entrepreneurs don’t let naysayers dissuade them from following their dream of building great companies.

From Travis Kalanick to Richard Branson, entrepreneurs who believe in the future of their company don’t give in to the volume of dissenting voices.

Whether that means multiple pivots or changes in customer acquisition strategies, true entrepreneurs remain focused on the long-term goal.

“Constantly think about how you could be doing things better and questioning yourself.”^[2]

When you’re an entrepreneur who is also a know-it-all, your chances of success are slim:

• Be willing to learn lessons from other successful entrepreneurs, angel investors, or venture capitalists.
• Read their books, listen to their podcasts, or attend their conferences.
• Don’t assume everything they utter is the absolute gospel as far as your entrepreneurial venture is concerned; there are differing opinions in the world of entrepreneurship.
• Use what works for you and file the rest away for further contemplation.

The goal is to iterate your best processes continually; if you’re not getting better as an entrepreneur, you’re standing still.

“Life is too short for long-term grudges.”^[3]

A long-term grudge harms you more than it hurts your transgressor.

Rather than allowing anger to fester inside you, turn it into motivation.

What can you learn and how can you use your newfound knowledge to make your company even better?

The adage ‘success is the best revenge is true when holding grudges; move past your supposed wrongdoing and fuel your fire for future business growth.

“Patience is a virtue, and I’m learning patience. It’s a tough lesson.”^[4]

Building a successful company doesn’t happen in an instant.

• It would help if you were prepared for years of struggle before success.
• Don’t let tech announcements of massive funding rounds knock you off course; there’s a high probability those young companies will burn through their investor’s cash and be no further ahead than you.
• Keep your head down, be patient in pursuing business excellence, and know you’ll win in the end.

If Elon Musk can learn to be patient, so can you!

“I think it’d be great to be born on Earth and to die on Mars. Ummm… you know, just not at the point of impact.

While you may never plan to set up shop on Mars, there’s no reason you can’t have a moonshot dream too.

Don’t be afraid to dream, and be willing to go after your stretch goals.

Whether that’s being acquired by Google or having a well-known Silicon Valley investor on your Board of Directors, dreams do come true if you’re willing to chase them.

You may not be Elon Musk, but there’s no reason you can’t act like him when it comes to building a business:

He’s not afraid to be labeled a dreamer or radical thinker, and he’s not afraid to pursue his passion in the face of overwhelming odds.

Heck, if he can turn his radical ramblings into business ventures, you have no reason to expect anything less of yourself.

Consider the above-listed Elon Musk quotes the next time you’re contemplating your entrepreneurial future; you might be inspired to push yourself to greater heights than you ever dreamed possible.