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Pretend Elon Musk purchased your small business; how would things change?

by May 21, 2022Small Business Leaders

This question is one to contemplate. We can look at Elon Musk’s business strategies that he’s implemented in the companies he owns. Look at Elon’s track record:

All of them have been hugely successful. 

What would Elon do with your small business?

This exercise is critical because it brings a new perspective to your blind spots. Here’s how Elon Musk handles many common issues. 

1. He knows too much advice is overwhelming. Elon Musk believes that you grow through experience, not by reading 100s of books on how to grow your business.

2. He has relentless attention to quality. Tesla, for example, has a zero-dollar marketing budget. They do that by making the highest quality electric cars possible.

3.Elon Musk goes out of his way to get meaningful feedback from everyone. When Tesla released the Model S, he didn’t want to know what was right about the car but what could be fixed. He did the same with SpaceX; after the first three rockets blew up, he kept working until he had a repeatable process of success. Making improvements through trial and error. Taking action and not staying in the theoretical world.

4.Be passionate about the company and product or service. Elon says to throw as many hours as possible by working seven days a week. (Inc. Magazine)

5.Business is about people. He would make sure that everyone was going in the same direction. Teams are aligned, and the vision is clear.

6.Put your business in alignment with a higher purpose by not saying “it’s impossible” but saying “we can do it.” He embraces failure and pushes through the next big hurdle. “A failure is an option, but you’re not innovating; if you’re not failing, you’re not innovating.

7.Execution makes a difference in a business—the implementation of ideas.

What tips from Elon Musk could you implement tomorrow? Want help with changing direction and creating better results. Sign up for a discovery call at the link below:

About Henry:
Henry is a Leadership Coach and Mentor. He helps Owners and Executive Leaders develop their teams to grow their business so they can have more time, more results and more money. To learn more, Henry offers a FREE discovery call  check out the details on this website.