South African Multi-Billion Dollar Entrepreneur gives Advice

South African Multi-Billion Dollar Entrepreneur gives Advice

Elon Musk (click to read his full story here) –  is something like a phenomenon, best known for having invented the first viable production electric car of the modern era (Tesla Roadster), for designing a private successor to the Space Shuttle (F9/Dragon) and creating the world’s largest Internet payment system (PayPal) all before the age of 40. And, although many people don’t know it, he is a South African.

Here is some advice from this amazing South African entrepreneur who is already worth almost $9 Billion (That is R90 Billion) at only age 43.

Be Ready to Work  If you are motivated enough to start a company, you better be motivated enough to work hard to keep it going.

Be Ready to Learn – Sometimes you have to step in and do things yourself, so you need to be ready to learn how to make things happen.

Pick the Right Team – One man or woman does not a company make; choosing the right employees is a core ingredient for success.

Know When to Grow – Choosing the right time to grow is key, because most companies don’t have the ability to sustain ill-timed growth.

Don’t Panic –  It’s from Hitchhiker’s Guide to the Galaxy by Douglas Adams. You have to be wary of emotion clouding your decision-making process – and of making a decision that you’ll later regret. You have to be as clearheaded as possible. Of course it’s a fine line, because you don’t want to be completely dispassionate. As for bad advice, my parents advised me to ignore bullies. That doesn’t work. You have to punch them on the nose.

Always try – I always knew that there was a chance of failure in all my endeavors. But I felt that they were important enough that I had to try, even if I thought the probability of success was less than 50%.

 

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9 Comments - Write a Comment

  1. amazing stuff. I came to realise that Elon is a legend in the making. he is literally in the history books now for all the world to see. I wish as south Africans we can work on our dreams not our worries.

    Reply
  2. Wow, this is amazing advice that i can relate to, especially now that i am in the process of starting a business. He hit the nail in the head, so to speak. And i’m so proud of his work ethic and achievements.

    Reply
  3. Hi I need someone who can help on my Company because it needs some Capital to Buy some Busses to move people showing South Africa and taking people who want to go home for their Holidays so now I don’t have funds anyone can help me please,thank you.

    Reply
  4. Hi I got business for transportation who need some funds for buying the vehicles for travel people around South Africa to the country and employ the Youth who are going to show our people how beautiful the country and also taking people to thier holidays home and visit,thank you.

    Reply
  5. Stefania Di Grisostomo · Edit

    Congrats! My first query. Since I have a different , unsual background. But how to go about patenting a name which becomes only yours. Not having a specific, due to health matters but I’ve always used this name: the admin & cost & where to go in CPT or due it via a trusted always.
    Thank you in advice
    stefania

    Reply

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