Your product or service has to be really great. Unless it's an untapped market, your product or service needs to be much better than your competitors.
It can't be a little bit better; it has to be a lot better. Consumers will always buy the trusted brand - unless there is a huge difference.

Ensure whatever you're doing is a great product or service

As you get older, your obligations increase. Once you have a family, you start taking risks not just for yourself but for your family as well. Then it gets much harder to do things that might not work out.
Now is the time to take risks. Do something bold. You won't regret it.

Now is a good time to take risk

When you start a company and want to do really well, you need to work super-hard.
Working hard means working every waking hour. If someone else is working 50 hours and you're working a hundred, you'll get twice as much done in the course of a year.

Work really hard

Many companies spend money on things that don't really make the product better, For example, Tesla never spent money on advertising but instead puts all the money into R&D and manufacturing and design.
Consider if your efforts are resulting in a better product or service. If not, stop those efforts.

Focus on signal over noise

If you're creating a company of it you're joining a company, it is vital to attract great people. 
So, either join an amazing group that you respect or if you're building a company, gather great people. The success of the company will depend on how talented and hardworking that group is and the degree to which they are focused cohesively in a good direction.

Attract great people

Dig into this collection about Elon Musk to see how his brain works, the future he envisions for the world, and a lot more.

books

Books

problemsolving

Problem Solving

business

Business

leadershipandmanagement

Leadership & Management

moneyandinvestments

Money & Investments

Inside The Mind of Elon Musk

“Starting and growing a business is as much about the innovation, drive and determination of the people who do it as it is about the product they sell”  — Elon Musk. This Video is Part 1 of Elon Musk's Five Rules How To Create a Company. ► Check Out Part 2 → https://youtu.be/Q6NnT6vpjdc ☀︎ Savanteum is on a mission to inspire the next generation of creators and innovators. ► Subscribe to Savanteum → https://www.youtube.com/savanteum?sub... Tools I Use/Recommend: TubeBuddy (great for analytics and optimization -- free to install, but upgrade needed for extra features): https://www.tubebuddy.com/savanteum Credits & Sources: In Video / Additional Sources Below Music by Whitesand - Eternity, Creative Commons License YouTube: https://www.youtube.com/channel/UCe96... Facebook: https://www.facebook.com/martynlaur Twitter: https://twitter.com/MartynLaur Soundcloud: https://soundcloud.com/martynaslau (Please Follow and Support Independent Musicians) Video Notes: Elon Musk is a is an engineer, industrial designer, technology entrepreneur, and philanthropist. He is the founder, CEO and chief engineer/designer of SpaceX; co-founder, CEO and product architect of Tesla Inc.; founder of The Boring Company; co-founder of Neuralink; and co-founder and initial co-chairman of OpenAI. Thank you for watching & follow us below! ====================================================== ► Follow Savanteum: Instagram: https://www.instagram.com/savanteum Website: http://savanteum.com/ ======================================================

personaldevelopment

Personal Development

technologyandthefuture

Technology & The Future

entrepreneurship

Entrepreneurship

videos

Videos

“Starting and growing a business is as much about the innovation, drive and determination of the people who do it as it is about the product they sell”  — Elon Musk.

► Check Out Part 2 → https://youtu.be/Q6NnT6vpjdc

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