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5 Habits That Made Elon Musk An Innovator

Success leaves clues: While what he’s achieved has made him seem unique, many of Musk’s behaviours are entirely replicable.

Alp Mimaroglu

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There are only 24 hours in every day, and you can’t squeeze out an extra second. Yet some people manage to be so productive and innovative they become billionaires at an age when most of us are still struggling to make ends meet. Even among billionaires, some stand out more than others, capturing the hearts of admirers everywhere.

Elon Musk is arguably one of the most well-liked and respected billionaires today. With Tesla’s recent Model 3 announcement, he continues to stay relevant. Let’s take a look at how Musk has stayed one step ahead of a very elite pack. What habits set him apart from his peers?

1. He reads the way most people watch TV

Like Buffett, who claims to read around 500 pages a day, Musk is the definition of a bookworm. When he was in grade school, he was reading ten hours a day, devouring everything in his library and the entire Encyclopedia Britannica, and completed a six-month BASIC course in just three days.

Related: 6 Skills Of Self-Made Millionaires That You Should Be Using, Too

2. He doggedly pursues his own interests

If his healthy reading habits weren’t already a giveaway, Musk is a true believer in self-guided learning. At the age of 12, he used his BASIC skills to program Blastar, a self-made video game which he sold to PC and Office Technology for R5 000. Musk also doubled majored in physics and economics, then interned for both ultra-capacitor research and video game companies.

Today, he’s worth R145 billion and runs businesses that seem to have nothing to do with one another. Except they all do, of course – Musk is genuinely interested in them. It’s no surprise that he’s the main inspiration behind Robert Downey Jr.’s Iron Man character.

3. He is tirelessly, unflaggingly optimistic

Elon-Musk-inventor

While the first two traits are true for most successful businesspeople, Musk also has an ace up his sleeve – he has a strong glass-half-full mentality. His Forbes profile sums this up best by describing two of his companies as “moonshot tech companies.” Except Musk doesn’t think of them as moonshots at all.

The secret to his innovation lies in his enthusiasm. This is a guy who grew up with an emotionally abusive father and was once bullied and beat up so badly that he needed to go to the hospital. “If you wake up in the morning and think the future is going to be better, it is a bright day. Otherwise, it’s not.”

Related: The Bedtime Routines of 4 Exceptionally Successful People

Musk genuinely believes that what he’s doing is good for the world, and that it’s making a positive difference. In fact, he believes so much in SpaceX that there are two giant posters in his office: before and after scenarios of what Mars will look like once he’s colonised the planet. “I want to die on Mars. Just not on impact.”

4. Yet he still believes failure is an option

Countless people – some of them very qualified experts – told Musk his ideas were ridiculous and bound to fail. Yet Musk managed to ignore them all and do things the way he wanted.

Granted, some of his ideas never quite took off. But many more succeeded and are dazzling investors and consumers alike. “Failure is an option here. If you’re not failing, you’re not innovating enough.” Or, put another way, “There’s a tremendous bias against taking risks. Everyone is trying to optimise their ass-covering.”

5. And he really, really knows how to party

Businessweek writer Ashlee Vance wrote a book about Musk titled Elon Musk: Tesla, SpaceX, and The Quest for a Fantastic Future that revealed some interesting insights into Elon’s private life – especially how much of a party animal he is.

Here are some of the more fascinating factoids:

  • He paid for college in Ontario by turning his frat house into a well-run nightclub.
  • On his 30th birthday celebration, he rented out an English castle for a party of 20 and played hide-and-seek games until 6 am.
  • He once threw a costume party in Venice (of course) and came dressed as a knight. Then he dueled a mini Darth Vader with a parasol.

Parties aside, Musk also just knows how to have a really good time in general:

  • After selling his first video game, he started a video game arcade in South Africa as a teenager.
  • He totaled an uninsured McLaren F1 doing tricks on Sand Hill Road en route to an investor meeting, and ended up hitching a ride instead. The sports car was worth $1 million.
  • He’s going to build a roller coaster around the SpaceX HQ, just because.

You don’t have to have a PhD to be a pioneer

Before he sold PayPal and became the multi-billionaire innovator we all admire, Musk decided to give graduate school a shot. He enrolled in a Stanford PhD program – and dropped out after just two days. That’s all it took for him to realise that there probably wasn’t too much he could learn from the class that he couldn’t learn on his own.

Related: 5 Visionary CEOs and Their Key Traits That Every Leader Should Master

Most of us, if we were fortunate and talented enough to be accepted by a PhD program at Stanford, probably would have attended. Musk didn’t because he already had all the skills he needed to be successful. He was laser-focused on his interests, intensely curious, unflaggingly optimistic, and unafraid to fail.

What about you?

This article was originally posted here on Entrepreneur.com.

Alp Mimaroglu specialises in marketing automation, demand generation, analytics and marketing technology. He has extensive experience with both business and consumer marketing. Mimaroglu is passionate about how technology is rapidly becoming the key to success in both the corporate sales and marketing landscapes.

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3 Comments

3 Comments

  1. Louis Alberts

    May 20, 2016 at 14:23

    Please recheck your comment “inspired Robert Downey Jnr’s Character Iron Man”. I am a fan of both and just cannot let this go. Instead say Ironman inspired Elon Musk. Iron man has been in our lives since May 1968. Or prove me wrong

  2. Louis Alberts

    May 24, 2016 at 07:08

    Hi
    Please elobarate this “It’s no surprise that he’s the main inspiration behind Robert Downey Jr.’s Iron Man character.”
    Ironman has been around from around May 1968.
    I have commented on this before, not sure where my previous one is.

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Self Development

It’s My Job And I’ll Cry If I Want To: The Case For Showing Emotions In The Workplace

Allowing workers to show their true selves has its benefits.

Amanda Slavin

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In a society that values strength, independence and self-reliance above all else, why express yourself? Why go out on a limb to reveal anything other than the highlight reel you post on social media in any situation, let alone in the setting where it could cost you the most: At work?

As it turns out, it could pay off in a big way.

Corporate robots are a dying breed

In today’s professional landscape, people want to bring their whole selves to work, even if doing so would break from the norms of “professionalism.” Millennials want work-life integration, not just work-life balance, meaning they’re not going to leave their emotions at home and send a cold, feeling-less, in-control-at-all-times automaton to the office in their place.

The insane precedent we’ve set for employees to remove so much of themselves from their professional lives is not only unhealthy for individuals; it’s also costing their employers in huge ways, even cutting enormous chunks out of corporate bottom lines.

By creating a workplace that does not allow people to share who they are, employers are essentially ensuring widespread workforce disengagement and high turnover.

I have a (somewhat) radial recommendation to overcome this massive issue: Cry at work.

Related: How to Harness Your Emotions

So, you want my employees to be crying – in the office?

Yes and no. In a perfect world, your employees would be perfectly balanced in their workloads and satisfied in their roles. They would never feel overwhelmed or dejected, and the need for showing negative emotions in the office wouldn’t exist.

We all know that’s not the world we live in. With the insanely fast pace of business these days, it’s likely that your team is going to feel frustration, anger, sadness and a whole host of other unpleasant emotions in the office.

I firmly believe that allowing, and even encouraging them to process these feelings outwardly is essential to having a successful business.

Here’s a personal example so you can see that it’s not as scary as it seems

One experience during last year’s holiday “break” led me to the brink of exhaustion. My team and I thought most people would be offline, but instead, our clients were in need of assistance, and I ended up picking up a heavy load because we hadn’t planned accordingly. I was working until the late hours every night during a week I had planned to spend with my family, and I was frustrated. This was directly impacting my health, and I was putting my professional success in front of my own personal and physical health.

After the holiday, during our weekly check-in, I expressed this frustration with the entire team. I cried during this call, explaining that I had felt really alone and like I could not really depend on anyone. I empathized that I knew everyone worked so unbelievably hard and that we all needed this break, but ultimately we hadn’t set ourselves up for success. We had to work harder and smarter so that we could truly take a well-deserved break and be present with our loved ones and ourselves.

The team responded immediately, and not only understood my perspective, but jumped into shape to do the work. In the end, we were able to satisfy our clients’ needs and set aside a time of rest for all of us, including myself.

Sometimes tears are the most productive solution, because they show your humanity and rally your colleagues to support you.

Related: 10 Ways Smart People Stay Calm

OK, I get the picture; now what do I do?

encouraging-emotional-expression

There are so many strategies you can try to create an expressive, engaged workplace in which everyone can show how they really feel, but the ones I recommend starting with are:

1. Encourage expression

Create an environment where people can openly share their emotions, whether that’s an all-team happy hour when a new client is won, or encouraging employees to vent their frustration on a tough day. Sometimes, this even means encouraging crying in the office.

2001 study by Vanessa Urch Druskat and Steve B Wolff found that teams who score high on tests for emotional intelligence (or emotional quotient, EQ) perform markedly better than those who score poorly. “Our research shows that, just like individuals, the most effective teams are emotionally intelligent ones.”

And they aren’t the only ones preaching the EQ gospel. Their findings have been replicated by hundreds of workplace and emotional researchers and published in dozens of peer-reviewed journals.

One of the most effective strategies that my company, CatalystCreativ, has used to help businesses create a more empathetic and expressive culture is teaching ways to foster traditionally “feminine” traits above more “masculine” ones. By valuing and expressing traits such as receptivity, surrender, vulnerability and tenderness, employees of all genders show higher rates of engagement and job satisfaction, and companies themselves perform better.

Think your male managers won’t go for it? That would objectively be a bad choice. A 2011 study conducted at Stanford examined feminine and masculine traits in male and female employees, and compared these traits to their rates of promotion compared to their peers. The results were surprising: “Feminine” men got two times the promotions of their traditionally masculine peers.

Those workers able to blend feminine and masculine traits in the workplace tend to excel beyond their peers, and companies that encourage this expression among all employees will reap the financial rewards.

2. Reduce stress

Although all workplaces today are somewhat stress-inducing, those that discourage emotional expression are particularly problematic.

By not crying and sharing emotions, employees are bottling in stress. I could site literally thousands of sources explaining that stress is horrible for health, and everyone is now aware of its awful effects, which extend to harming work productivity.

Professor Roger Baker, a clinical psychologist and professor at Bournemouth University in the U.K., claims that “crying is the transformation of distress into something tangible, and that the process itself helps to reduce the feeling of trauma.” And he’s not the only one who feels this way.

William Frey, a biochemist at St Paul-Ramsey Medical Center, found that tears contain the stress hormones prolactin and adrenocorticotropic hormone, meaning that crying literally flushes stress-causing chemicals out of the body.

If you’re still unconvinced about allowing, and even encouraging, your employees to cry in the workplace, consider this: Stress costs U.S. companies $300 billion per year, due to health care and missed work days alone. And while eliminating all stress is impossible, allowing employees to process and express it is the only way to reduce its negative effects on your business.

So, if you’re reading this as an employee, go big. I encourage you to show up to work as your whole self every day. If you’re an organisational leader, I hope you recognise the absolute necessity of creating a more open workplace for your employees. One in which they can celebrate, laugh, talk about their real selves and yes, even cry.

This article was originally posted here on Entrepreneur.com.

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Self Development

The 5 Gut-Check Questions Confronting Entrepreneurs Every Day

The day you forget why you began is the day you’re done.

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https://www.entrepreneur.com/article/314209

Entrepreneurs make an astounding number of decisions daily. They are faced with choosing which opportunities to move on and must solve problems big and small.

By setting up a framework of questions to ask yourself daily, you’ll give yourself some markers to help guide you through these difficult situations. Knowing where you stand on these questions will empower you to make good choices that ultimately lead you to your desired outcome. It will give you a deeper understanding of your motivations and your feelings about your business, and can help you clarify future plans.

Here are five powerful questions all entrepreneurs should ask themselves daily to ensure they are consistently moving toward their goals and making the best decisions for themselves and their business. Ask yourself these questions with an honest and open mind, and see where they take you.

1. Why are you doing this?

What makes this one little question so powerful is that it forces you to examine your desires and impulses, and helps you chart how those motivations change over time. It forces you to look at things from a different perspective. Asking yourself this question every day reaffirms your ambitions and the mindset behind why you are doing what you’re doing. If you don’t know why, you’re in trouble!

Related: Entrepreneurship Is All About Overcoming Obstacles

Asking this question opens the door to a plethora of other questions that will give you food for thought. What is the reason for launching your business? Why are you passionate about doing this? Are you the right person to run this business? These answers may change over time. At first it may seem difficult to truly nail down the “why” behind your motivations. Maybe there are competing interests that are driving you. But when you really think about it and drill down into this question, there’s probably a simple answer. Just be sure you’re being truthful with yourself.

Why you do something also gives rise to the question: what do you hope to achieve? You need to know what your end game looks like, and what success means to you. Is it about attaining a certain level of wealth? Is it about being the top in your market? Is it about earning respect? Are you looking to rule the world (or at least a niche market), or are you simply hoping to earn a living doing something you love?

Start your day by asking yourself this question and see where your answer takes you. By spending a few minutes pondering this, you’ll gain clarity that will help you steer your career in the direction you want it to go.

2. What is your company’s purpose?

purposeSee if you can answer this question in a single sentence. A good place to start is with your mission statement: what are the formal aims, goals and values of your company or organisation? This should be clear and concise – it should get to the heart of what your business is about.

Your company’s purpose is the foundation that all else is built on. It should have enough flexibility to grow and allow for change, but be specific enough to be meaningful and relevant. Ultimately, this question should help you understand what the heck you’re really doing here.

This question should be at the forefront of your mind when making important decisions. Ask yourself whether this new venture or idea would reinforce or logically contribute to your company’s overall purpose. Are you staying true to your calling?

That’s not to say that your purpose can’t change over time. However, if it does, the change should be purposeful and executed with care. Thinking about this will help you identify your long-term business goals and may lead to bigger questions, such as: What do you want your company to mean to your customers, what is your company’s place in world and what is its ideal market?

3. Where is your business at right now?

The goal with this question is to take both an analytical and emotional assessment of your business. This is a chance for you to take a hard look at where your company sits. Is it on the right track? What seems amiss? What is going right and how can that be reproduced throughout your business?

It’s also important to acknowledge your emotions and to be mindful of how you are feeling about your business. What is your gut instinct saying? Are you feeling anxious or excited about the business? Whether you are having negative emotions or positive ones, it’s important to recognise what you’re feeling and why you’re feeling that way.

This will give you a chance to better understand your mental state and how that may be influencing your decision making. It’s also about understanding what kind of vibe you are putting out. Are you feeling clear-minded and balanced? Or are you feeling off-kilter and out of sorts?

Being in tune with your emotions and having a clear view of what’s going on with your business will ensure you’re on an even keel. It will help you avoid overreacting or under-reacting to situations.

Related: Attention Black Entrepreneurs: Start-Up Funding From Government Grants & Funds

4. What lessons are you learning?

Every entrepreneur faces an uphill battle to achieve success. Every day you should be learning and growing, and the best way to do this is through a great deal of reflection on the lessons that present themselves each day.

Ask yourself whether you’re learning from your mistakes. Failure is a part of every entrepreneur’s journey. The question is, will your mistakes allow you to learn and grow? If not, you’re liable to fall into the same pitfalls and missteps. Conversely, are you learning when to jump at an opportunity and when to let it go? This is the ultimate lesson every entrepreneur is trying to learn, and it’s never an easy one.

The next time you’re weighing whether or not to take a risk, try asking yourself: “When I’m 80, will I feel sorry if I hadn’t gone for it?” Jeff Bezos does this as a way to crystallise whether he will regret not taking action on something. In the big picture, it’s often what we fail to do that we see as our biggest mistakes in life.

5. What’s next?

If you ask yourself one question every day, this should be it. As an entrepreneur, you always need to be anticipating what’s next. You need to anticipate what’s coming down the road and formulate a plan to take it on. This is the question that forces you to look up from that pile of work on your desk and think about the big picture and next steps for your business.

What strategies will you need as you keep pushing your business into the future? What trends or shifting interests are coming up that may affect your business? How will new technology impact the way you manage the company?

Disruption will happen in every market because change is inevitable. Businesses that survive see that wave coming and start making adjustments early on. So, in a way, change is predictable because it will always come. Innovation and ingenuity will always be the key to success – and those who seize opportunity will ride the crest of the next wave.

So when you ask yourself “What’s next?” make sure you have your blinders off and are looking at things with a curious and open mind. Make sure you’re staying open to new ideas and embracing creative solutions. Keeping looking for the “wow” factor.

This article was originally posted here on Entrepreneur.com.

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Self Development

5 Inspiring Quotes From Madiba To Stir You Into Action On Mandela Day

In honour of Mandela Day, here are 5 of Nelson Mandela’s most inspiring quotes.

Casandra Visser

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Bouncing Back

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“Do not judge me by my successes, judge me by how many times I fell down and got back up again.”

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