Successful entrepreneurship hinges on relentless perseverance, an obsessive focus on product quality, and a deep passion for one's work, even in the face of repeated failures and demanding effort.
Mind Map
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A well thought out critique of whatever you are doing
is as valuable as gold
That third failure in a row
Did you think, I need to pack this in?
Never
Why not?
I don't ever give up
I mean, I have to be dead or completely inpascinated.
Eight weeks later, Musk bet the company on another flight
We have lift off
This time around, everything worked.
Perfect!
If that 4th launched hadn't worked, what would have been it?
we would not have the resources to mount a fifth
Successful entrepreneur probably come in all sizes, shapes and flavours
Some of the things I've described already, I think, are very important ,
I think, really an obsessive nature with respect to the quality of the product
Really really liking what you do
What... whatever you get in to, given that...
Even if you're the best of the best, there's always chance of failure
so i think it's important that you really like whatever you're doing
If you don't like it, life is too short
when my brother and I were starting our first company
And instead of getting a apartment, we just rented a small office
and we slept on the couch
We just had one computer
so the website was up during the day and I was coding at night
seven days a week all the time
You just keep going and get it done
You put $90 billion dollars like 50 years worth of breaks,
into... into solar and wind to Solyndra and Fisker and Tesla and Ener1
I mean, I had a friend who said you don't just pick the winners and losers,
you pick the losers
I'm available 24/7 to help solve issues
call me 3 am on a sunday morning. I don't care
But his bets payed off, we didn't just repay the principle,
we actually repaid it with interest and a bonus payment so...
ultimately, the U.S. taxpayer actually made a profit of over $12 million
on this loan.
Work like hell, I mean just have to put in, you know,
80 hours, 80 to 100 hour weeks, every week.
If other people are putting 40 hour weeks
and your putting 100 hour work weeks,
you will achieve in four months what it takes them a year to achieve
An naturall human tendancey is wishful thinking
so a challenge for entrepreneurs is to say, what's the difference between
really believing in your ideals and sticking to them
versus pursuing some unrealistic dream that doesn't actually have merit
Your product or service needs to be much better,
It can't just be a little bit better
All those things improve the odds of success.
I think my drive is somewhat disconnected from
hope, enthusiasim or anything else
I just...... I actually don't care about hope or enthusiasm or motivation
I just give it everything I've got
irrespectively of what the circumstances may be.
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