How Elon Musk Reached Success and His Secret
| Subject: | 👸🏽 Famous Person |
| Type: | Analytical Essay |
| Pages: | 3 |
| Word count: | 862 |
| Topics: | 🧑🏻 Elon Musk, Innovation, 🙋♂️ Management |
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Table of Contents
Elon Musk, the CEO (chief executive officer) of Tesla Inc. (TSLA) and the private space corporation SpaceX, has achieved global fame as an entrepreneur. Musk was an active investor and co-founder of PayPal (PYPL) in many tech companies and started negotiations in April 2022 to acquire Twitter Inc. (TWTR) privately. His achievement and personality have drawn comparisons to other vibrantly colored tycoons in the history of America, including Howard Hughes, Henry Ford, and Steve Jobs. In addition, he was named the world’s wealthiest individual, with, as of June 2022, a $220 billion net worth. Consequently, the following paper aims to evaluate Elon Musk’s secret as well as how he achieved his success. Elon Musk achieved success through businesses such as establishing a payment method, electronic cars, affordable rockets, and purchasing a significant social media platform. This success is made possible because he believes in hard work, innovation, producing high-quality products, and lowering the cost of advertisements in business.
How Elon Musk Achieved Success
Elon Musk established PayPal, the electronic payment and SpaceX corporation. After that, he was appointed Tesla, an electrical vehicle producer CEO (Foust, 2018). Musk has long considered that humans must transform into multiplanet lifeforms to live. He was, nevertheless, displeased with the high cost of the launcher of rockets. So he established Space Exploration Innovations (SpaceX) in 2002 to create more affordably priced rockets (Tran et al., 2020). Its initial two missiles, the Falcon 1, initiated in 2006; and the giant Falcon 9, initiated in 2010, was intended to be much less expensive than competing rockets.
Musk had long been intrigued by the potential of electric vehicles. In 2004, Elon became a significant entrepreneur in Tesla Motors, which was later changed to Tesla, an electrical vehicles corporation established by founders Eberhard and Tarpenning. Tesla’s first car, the Roadster, was unveiled in 2006, with a scope of 245 miles on a single charge. Then, dissatisfied with the projected cost of a California high-speed rail system ($68 billion), Musk proposed the Hyperloop in 2013. It was a pressurized air tube through which a container designed to transport 28 commuters would travel the 350-mile distance between San Francisco and Los Angeles in 35 minutes at highway speeds of 760 miles per hour, nearly the speed of sound (Tran et al., 2020).
Musk joined the social media platform Twitter in 2009 as @elonmusk. He speedily became one of the site’s most popular stories, with more than 85 million followers in 2022. He raised concerns about Tesla’s public trading. In August 2018, he published several tweets about taking the business for $420 per equity in private, mentioning that he had “secured funding.” In light of the company’s content-moderation initiatives, Musk questioned Twitter’s dedication to freedom of speech concepts (Saint-Martin, 209). Twitter’s SEC filings in early April 2022 disclosed that Musk had acquired more than 9% of the corporation.
Elon Musk’s Secret
Elon Musk’s success is built on innovation, disruption, and game-changing ideas. These are words that have become synonymous with Elon Musk. Musk’s latest day at the office entails releasing a Tesla Roadster into space as he completes his 50th SpaceX launch (Khan, 2021). Whether entrepreneurs want to be innovative businessmen or workers, many people can gain knowledge from this genuine iron man. Elon Musk believes entrepreneurs should not devote all their resources to advertising (Aguinis Bradley, 2019). Musk does not waste money on advertising. Instead, he wonders whether this operation leads to a superior service or product. If not, he swore to discontinue his efforts.
A high-quality product will generate positive utterances. Individuals need to prioritize it initially, and accomplishment will follow. He also insists on taking risks before life interferes (Seedhouse, 2022). “When you are young, it is the right opportunity to be an entrepreneur. As you get older, your obligations increase,” Musk said (Khan, 2021, p. 71). As a result, he encourages people to take significant risks by doing something daring; and they will not be sorry. Risk-taking has an impact on families and children as they age. Not to mention that people will have a lot less free time. Instead, people should take chances now when they do not have any other obligations or time constraints.
Furthermore, Elon Musk believes that to be successful, entrepreneurs must work until the wee hours of the morning. Elon Musk is well-known for his job morale. He spends up to 100 hours weekly between his various businesses (Khan, 2021). When an individual is feeling unmotivated, they should think of Elon. He is defining what it means to force themselves. If people do not follow suit, they may be squandering their potential.
Conclusion
Elon Musk founded PayPal, the electronic payment system, and SpaceX. Moreover, he was named CEO of Tesla, a manufacturer of electric vehicles. Musk had long been fascinated by the possibilities of electric vehicles. As a result, he became a significant entrepreneur in Tesla Motors, which was later changed to Tesla in 2004. Musk joined the social media platform Twitter in 2009, and as @elonmusk and quickly became one of the site’s most popular stories, with over 85 million followers in 2022. Elon Musk’s success is based on his ability to innovate, disrupt, and come up with game-changing ideas. These are the words that have come to be associated with Elon Musk. Musk’s most recent day at work involves launching a Tesla Roadster into space or completing his 50th SpaceX launch.
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- Foust, J. (2018). SpaceX’s space-internet woes: despite technical glitches, the company plans to launch the first of nearly 12,000 satellites in 2019. IEEE Spectrum, 56(1), 50-51. https://ieeexplore.ieee.org/abstract/document/8594798/
- Khan, M. R. (2021). A critical analysis of Elon Musk’s leadership in Tesla Motors. Journal of Global Entrepreneurship Research. https://doi.org/10.1007/s40497-021-00284-z
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Offered for reference purposes only.