Great Corporations are not just born of ideas, there are things that make them strong and stand the teat of time. In this short article, we are looking at 5 rules of Building a Great Company from Elon Musk.
1. Work Super Hard : Elon Musk narrated his story of Building his first company with his brother. He said the website was up by day and he was coding in the night. They were living in a one bedroom apartment that stand as both office and home. He advise anyone starting a Great Company to make use of every waking your to work super hard.
2. Create a Great Product or Service : Except you are creating another market entirely, your product or service have to be exceptionally better than your established competitors. He said you should put yourself in consumers shoe, everyone will want to buy their favourite brand unless there is a big difference from a new brand. This means your product should not be slightly better than your competitors own, it must be a lot more better.
3. Hire a Great Team : Any great company is made up of people who are exceptionally good at what they do. A great team will build you better product and services and earns your company aan awesome brand name in the marketplace. It's always a good choice to investing in talented and great team.
4. Signal over Noise : Elon Musk used Tesla as an example, he said they are yet to spend a single dime on advertising. All the money and the efforts that will create noise around the company are spend on research and development and creating better cars. All the resources and efforts should be put into creating a better product first before you think of advertising or spending on other noise creat8ng channels.
5. Take Risk Now : Creating a company is a great risk so you had better take that r8sk when you are much younger. As you grow older, your obligations increase and you get a family and your risk increase. Elon Musk advises you take those risk now instead of waiting.
I hope you enjoy this article, we at Choppinglife World will be happy to see you shinning at the top.
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