How Did Elon Musk Get So Rich? His 5 Key Tips for Massive Success

Introduction:

Elon Musk has built multiple innovative companies like Tesla and SpaceX that have made him one of the richest people in the world. But how did Musk get so rich in the first place? He shares 5 essential tips based on his experience for achieving massive success.

Work Ridiculously Hard to Outpace the Competition:

One of Musk’s secrets to getting rich was relentlessly working harder than everyone else when starting out. He routinely put in 100+ hour work weeks, sleeping in the office to maximize time put into growing his business. This insane workload allowed him to get way more done than the typical 40–50 hour work week.

Create a Far Superior Product to Disrupt Industries:

Musk didn’t get rich by building products that were only slightly better. He focused on creating substantially superior products that were way better than competitors, disrupting established industries. This led to major success.

Hire Exceptional Talent Obsessed with Success:

Musk attributes part of his wealth to surrounding himself with super talented, driven people who were completely committed to achieving greatness. Building a team of the best people gave him an edge.

Pour Resources into Perfecting the Product:

Rather than overspending on marketing, Musk focused on R&D and perfecting the actual product experience. This product-first approach helped his companies dominate.

Take Huge Risks Most Would Avoid:

In his early days, Musk took major risks few others would take. Not having family obligations allowed him to be bold when failure was a real possibility. Massive risk led to massive reward.

Conclusion:

Implementing Elon Musk’s 5 key tips of working extremely hard, building a far better product, hiring exceptional talent, obsessing over perfecting the product itself, and taking bold risks can help put you on the path to getting very rich and achieving enormous success like Musk.