How to Win at Business Building – Elon Musk

How to Win at Business Building – Elon Musk

Episode Transcript

Speaker 1 (00:00):
How to win a business building by Elon Musk. It's
a blessing to live in a timeline that has business
builders like Elon Musk. Forget his political and social stances
for a second, just think about what he's actually built.
Elon Musk is an extreme example of radical, purpose driven living.

(00:20):
None of us can never hope or dream to become
him or actually want to be in his shoes, nor
do we probably want to be anyway. His attitude of
no quit in living life fully has lots of lessons.
And so I was having a curiosity moment and I
decided to use AI to scour the internet. And here

(00:41):
is an amalgam of his lessons extracted with the interests
of AI, and I've also added in my color commentary.
So let's talk. Let's talk about what Elon Musk thinks
about building businesses when it comes to taking risks. If

(01:01):
things are not failing, you are not innovating enough. We
need to increase cycle, time of delivery and feedback. There's
a tremendous bias against taking risks. Anyone who is trying
to optimize covering their butts, you're going to have a
feeling of failure that are very powerful. Some people don't
like change, but you need to embrace change if the
alternative is disaster. You don't always need to change, but

(01:24):
if you think hard enough, you know that a part
of your life does need to change. The first step
is to establish something that is possible. Then probability will occur. Execute, build,
do What does Elon Musk think about hard work? Well,
persistence is very important. You should not give up unless
you are forced to give up. It's not always easy

(01:46):
to know when to cut ties and drop the ball.
I've found it that it becomes relatively obvious over at
least ninety day window whether we should persevere on this
pivot or quit work like hell. I mean, you just
have to put in eighty to one hundred hours a
week every week. This improves the odds of success. Frankly,

(02:08):
Elon Musk is not wrong here. When something is important enough,
you do it even if the odds are not in
your favor. The value of process and the value of
purpose in the process is very important. You have life
lessons and stories to tell, even if it doesn't end
up that well. Elon Musk on leadership, the path of
the CEO's office should not be through the CFOs. It

(02:30):
should not be through the marketing department. It needs to
be through engineering and design. Essentially, people buy great products.
People work better when they know what the goal is
and why. It is important that people look forward to
coming to work in the morning and enjoy working. I
talk about this all the time in my agile and
scrum classes. We must understand the why if we want

(02:52):
to do our best work. If you're a co founder
or CEO, you have to do all sorts of things
and tasks you might not want to do. No task
is too menial. At the end of the day, you
need to take out the garbage, sweep the floors. It's
your dream first Elon Muscow on personal growth. It's very
important to have a feedback loop where you're constantly thinking

(03:15):
about what you've done and how you could do it better.
The more feedback, the better. Communities are great for this,
and we have a great community at go fsmbb dot
io that you could check out. Really pay attention to
negative feedback and solicit it, particularly from friends. Pushback forces
you to think about what you're doing and potentially redesign.

(03:36):
It is impossible or sorry, it is possible for ordinary
people to choose to be extraordinary. Every action is a choice.
After all. If you get up in the morning and
you think the future is going to be better, it
is a bright day. Positive juju, my friends. That's my
color commentary on that positive juju. Only people should pursue
what they're passionate about that will make them happier than

(03:58):
pretty much anything else. Find the joy in life and work,
engage in the world. I like that Elon Muscle on entrepreneurship.
Starting and growing a business is as much about the innovation,
drive and determination of the people behind it as the
product they sell. Your leadership matters, and when it comes
to building your company, you want hard workers only. Being

(04:22):
an entrepreneur is like eating glass and staring into the
abyss of death. The unknowns are plenty. Thicker skin will
be produced the more that you survive and persevere. When
somebody has a breakthrough, it is rarely one little thing.
Very rarely is it one little thing. It's usually a
whole bunch of things that collectively amount to a huge innovation.

(04:44):
It's all about teamwork here. Talent is extremely important. It's
like a sports team. The team that has the best
individual player will often win, but then there's a multiplier
from how those players work together and the strategy they employ. Scrum,
for example, there is a game of team discipline over time,
and frankly, that's why scrum teams win because they're deeply disciplined.

(05:10):
It is a mistake to hire huge numbers of people
to get a complicated job done. Numbers will never compensate
for talent in getting the right answer. Delivering and getting
feedback is greater than anything else. Keep shipping, keep getting
that feedback loop. That's what it's all about. Thanks to
the amazing amounts of data of Elon Musk and on
Elon Musk, we can distill his business building tips into

(05:32):
useful reminders for us today. At the end of the day,
if I were to summarize all of this amalgam of
what I've put together with AI and the Elon all
over the internets, it's essentially this be a human doing,
not a human just being. Engage in the world, Be
active in your own salvation, work out your own salvation.

(05:55):
With fear and trembling, sounds like it's time to get
to work. All the best