Elon Musk: How to Start a Business! Seriously Take Notes!
Did you know Tesla has a zero dollar marketing budget?
Despite operating in the emerging alternate energy car market (and rampant skepticism that electric cars could even compete), Tesla had an incredibly successful IPO in 2010 and continues to struggle to produce cars fast enough to meet demand.
It seems amazing that they’ve been able to pull that off without marketing, but Elon Musk’s explanation for their success is simple: a relentless focus on making the highest-quality cars possible.
The vast majority of Tesla’s budget (and about 70% of Musk’s time and energy as CEO) is devoted to research and development. Musk only spends 2 to 3% of his time talking to the press, with plans to cut it down to 1% so he can free up time for – you guessed it! – more focus on engineering and design.
Marketing done right can be extremely powerful; I’m not saying it has no place in your business model. The vast majority of us don’t have Elon Musk-level capital to fund our businesses and get them off the ground. But if it comes down to a choice between more marketing for a mediocre product, or money money spent improving product quality, I’d choose quality every time.
Quality outlasts trends and bids for brief attention. It leaves a lasting impression – one that turns customers into lifelong fans and the most effective marketers you could dream of.
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It seems like the woman interviewing is more interested in speaking than listening, watch this and then watch it again.. she completely disregards what he is saying, " yeah" Yeah" yeah" she isnt really listening to him.
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Focus on the product that your customers love — a fantastic piece of advice, if every entrepreneur can focus on the products that customers love we would never have businesses closing down after an initial excitement.
I love listening to him, him and MIchael Makabi are always so refreshing and inspiring. It's sad to see people make negative remarks on his speaking. I don't talk like this constantly but my mind runs so much faster than my mouth and I often have trouble getting out everything on my mind, but I do get my pint across.
Starting a business for younger generations is infinitely more difficult than how it was for baby boomers. The amount of competition and other tactics, even with women coming into the workforce now it has doubled the amount of people doing the same thing (not that it's bad women working it's just vastly different to before).
One thing I've learned from seeing people run businesses who are close to me, is that a large degree is luck, but the more important degree is constantly perservering even when it looks hopeless. I know a guy who survived two recessions and it looked like the business would shut down - he borrowed 50k off his father and other people, at the risk of losing it all and being 50k in debt.
But because of that, it saved his business through the recession (employees were getting paid from his pocket not from income of business).
It takes a certain degree of insanity to be successful.
Listening. Our schools though have real challenges teaching entrpreneurialism. This requirement is often self-taught through advanced leadership, innovation, insight, research, tenacity, and desire to improve upon the world. It is true, if clients/customers/employees believe in their greater leadership, that leadership must inspire more often than not.
Did you know it’s not true that tesla spends nothing on marketing. When Elon launches a new vehicle he markets it otherwise how would people know. You think when he introduces a car it that he doesn’t spend money then you are out of touch with reality.
But, what if you are a musician/composer like me and there are sooo many others in the industry that may not be necesarily better but they are more high up contracted by the majors and such? Then making new, fresh and technically good stuff doesn't bring you always further . . .
Now, I do realise that I can keep myself alive with my work, which is special in itself, but my music is not reall a thing that people seems to "need", "want" or are eager to buy tickets for.
In my opinion that is due to the lack of marketing budget, a good agent/impressariate. But of course the bottom line may be my attitude as well, not seeing the blind spots. I want to see them to improve the interest of others to get to know my music and my abilities to creat it in such a fashion that it really stands out. But maybe I am too eager to see it..? Who knows?
My goal is to write more music for feature films and play a little more live concerts in reasonable theaters. Just to be able to show a different and hopefully an inspiring world where one could see their very own creative capabilities.
Hey random person scrolling
throught the comments. I just want to say have a great day or night.
Remember your loved and you have a purpose in this world. Always stay positive and never give up in life and on your goals
How do you start and operate a successful and momentous business when you're only able to save $10,000 after years of efforts? When you have to go all in or lose everything. It's tough for a lot of people who struggle with <$40,000 household income
WHY DONT YOU ALL PUT FKIN SOLAR PANELS ALL OVER WALLS ROOFS AND FKIN CARS,, I DONT CARE WHY YOU CANT,, I WANNA KNOW WHY YOU DIDNT MAKE IT WORK YET, COME ON SPACESHIPS WITH FULL SOLAR PLATES FFS, SOLAR IS THE ONLY FUTURE ENERGy WHO CANT EVER RUN OUT,, dat we know of still,, maybe dark matter?,, does magnets works in space?, touch once it gives you energy for free forever,, i think hydro quebec did a prototype with water and .. petroleum screwed it up
AND GO FKIN VEGAN,, DONT GIVE OUR FOOD TO OTHER ANIMALS,, WHILE THEIRS SOO MANY PEOPLE STARVING,, usa have OVER 300 COWS KILLED PER SECONDS,, IMAGINE THE METHANE 23TO30 TIMES WORST THEN CO2,, without mentioning the sht
Knowledge is power
AddoptionLessBabies. Vegan. ShareTransport. Minimalist. 0Wastes.
-https://www.youtube.com/watch?v=dSjE8xw_-Dg Planet Sustainability
-https://www.youtube.com/watch?v=UcN7SGGoCNI Dairy Industry, 5min
-https://www.youtube.com/watch?v=IvlaQJImt9w HealthChoices ActualDetails
-https://www.youtube.com/watch?v=BrlBSuuy50Y Animals (Care Hard to watch)
-https://www.youtube.com/watch?v=TJvrlwnEqbs Dairy (All on dairy DoctorDetails) Dairy=Drug 4-5AddictAgents
-https://www.youtube.com/watch?v=YiUiKBoDazY Trailers (jumpOverTalkScenes)
-Health... =ForkOverKnives(ConvincedMorePeopleIThink) but.
=What The Health..., (has it ALL ABOUT HEALTH Impacts Caused By AnimalAgriCulture) netfix or youtube,, maybe,, activists keeps reposting,, cause worthless youtube keep closing them down
-Speach JamesAspey https://www.youtube.com/watch?time_continue=2&v=KHOcox2lvQo
-Speach Greatest Vegan Activist ever i hear,, Gary Yourofsky (religious context tho) https://www.youtube.com/watch?v=U5hGQDLprA8
-Opra https://www.youtube.com/watch?v=tCw-GMyhJEo (massive amouth of celebreties going vegan) even animal agricultures knows this and are going Vegan, sad irony same time.
-Omnivore or... https://www.youtube.com/watch?v=sXj76A9hI-o&t=975s (this one is hard,,, depends on Your definition of omnivore im guessing)
-mosanto, d'ou vienne vos fruits et légumes? La Guerre Des Graines https://www.youtube.com/watch?v=vGtGSFneI7o&t=101s
-Animal Pet Food. https://www.youtube.com/watch?v=zDpksTlEAyI
-Francais (animaux,Planet,Santé) https://www.youtube.com/watch?v=NlN4wH3swgU
-Francais (mosanto) https://www.youtube.com/watch?v=cVngG592xKU&t=2s
-HomeDocumentary,, my first most important life worth Documentary (second was
-Cowspiracy,, respect planet, and how Cows/PigsWastes/OverFishing is just impossible (unlessHugEventHappens, even in War dey wouldnt feed you animal products)
I love hearing him speak. It's refreshing to know that you don't have to be the most charismatic or extroverted to succeed. I've had those ideas pushed on me most of my life, which was discouraging. He is an inspiration.
Great Video About Starting, You Gotta Start Somewhere, if you want to know how to make $50 a day you have to understand what tools and resources you have available to achieve that goal. Before fulfillment was a thing, I acquired a seller's permit from the local state tax office and looked at local wholesalers to see what I can sell on Amazon and Ebay before having to actually buy anything, when I got better at this activity was generating $200+ a day without actually buying a thing. Hope this helps you guys get started.
Could I email you to follow up about this? I've had a similar business model idea to this since high school. I think it's so cool that you managed to do that! My email is [email protected] Thank you, I hope you can get back to me :)
Tell you what? This female Sinpaporian journalist asked Elon Musk the wrong question about business starting. At least Elon still stuck into the theme. Anyway, I like to listen what Elon brushed up a bit setting up business.
That was sooo close to being boring dribble. Work hard don’t give up and follow your dreams. I could be a life coach. People glorify others for achieve in the things they believe they couldn’t achieve for themselves. Strange world we live. I believe we all have the ability to be great but though begins with our mindset. Elon could explain rocket science better than he can anything else.
You know, if the government try to seize and forfeit your programs, you better move them somewhere else where they can be protected.
That way, it would allow you to not only continue the work, find enough sales, even during economic boycott or other conditions, and, you can also help them to improve their competition, so that they don't have to cause damage to society by trying to destroy good work which is aimed and designed at helping society, and does help society, while they try to monopolize on this benefit they bring to society.
I find it better than working from jail, or, if alienated, or, uselessly impeded.
It's also better for marriage and required.
Elon = Air Force investment= You better be white and rich to be part of US cause you may end up with the blacks Hispanic asians and all who are not white in the public service line asking for food stamps and selling pot to survive the staggering unemployment rate
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