4 Takeaways Entrepreneurs Can Glean from Elon by Walter Isaacson
I recently finished the excellent biography of Elon Musk by Walter Isaacson, and it got me thinking. Elon is totally unique; his appetite for risk is extraordinary, as is his ability to challenge the status quo. His impulsivity and ruthlessness are also legendary, resulting in many detractors and people who openly ridicule or disparage him.
But love him or loath him, Elon is someone who has left an indelible mark on our world. Whilst most people don’t or couldn’t aspire to be like Elon, we can gain some brilliant insights from seeing how he works and views the world.
Vision
Many of Elon’s businesses started because he had a vision of the future he wanted to create, like colonising Mars and mass adopting electric vehicles. Both of these endeavours faced severe criticism and doubt from outsiders, and both nearly crippled him financially. Fortunately for both Elon and the world, his dogged determination and vision drive him, as he knows focusing on the end goal will eventually reveal a monetisation opportunity.
As children, we are naturally curious and constantly dream. But as we grow up, this wide-eyed wonder gradually fades. Much like when Einstein came up with the theory of relativity (through thought experiments), the dreamers and visionaries of this world, often ridiculed, are the ones who truly move the needle on humanity.
Question everything
When Elon entered the world of space travel, the industry had not evolved in decades. The way contracts were set up enabled rocket companies to be inefficient and risk-averse. Elon entered the industry and questioned everything; he was not willing to pay the exorbitant prices that existed for rocket parts. In questioning these prices and thinking outside the box, he found alternatives or created his own. This resulted in much more affordable and commercially viable space travel.
Personal Branding
Elon’s ability to influence and shape public opinion and disseminate information quickly and to a massive audience has been one of his greatest assets. By building up an audience through the media and social media, Elon has shown how he can influence human behaviour at a large scale. While most entrepreneurs do not have Elon’s influence or reach, they can imitate the strategy on a smaller scale by building their personal brand through mainstream media and social media.
Collusion
Elon understands the gap between designers and the real world. By having his designers work alongside the engineers, he circumvents delays and miscommunication that can come about from siloed teams. For example, if there is a problem with part of a rocket, the engineers can immediately grab the designers and literally show them the issue, subsequently working together on a solution.
Although Elon can be a tyrant and disenfranchise many employees, often, the outcomes he achieves could be seen to be worth it. One great example is when he bought Twitter. He found the environment where the developers worked to be slow, inefficient, and lackadaisical. He didn’t just want developers; he wanted people who would give their entire lives and souls to the projects. With this mindset, he reduced headcount by an enormous percentage whilst retaining a working platform.
