Thread by @mywifequit

14 Elon Musk Quotes That Will Inspire Small Business Owners

//Thread//

“When something is important enough, you do it even if the odds are not in your favor.”

Starting a business will be one of the most stressful, painful, nerve-wracking experiences in your life.

It’s also worth it.

“If you need motivation, don’t do it.”

True motivation is not fabricated, you just feel it.

Makes sense why so many people start businesses after hitting rock bottom…

“Some People Don’t Like Change, But You Need To Embrace Change If The Alternative Is Disaster”

Change is necessary.

I’ve started plenty of businesses that didn’t work,

I’ve pivoted a bunch of times on my business.

And that’s ok.

I wouldn’t be here if it weren’t for change.

“I Think It’s Very Important To Have A Feedback Loop, Where You’re Constantly Thinking About What You’ve Done And How You Could Be Doing It Better”

Your customers, business partners and friends will criticize you and call you out on your stuff.

And that’s ok.

“It’s Very Important To Like The People You Work With, Otherwise Life And Your Job Is Gonna Be Quite Miserable”

It’s like @naval said:

Pick business partners with high energy, intelligence and integrity.

If you don’t like who you work with, you’ll just be annoyed all the time.

“It’s OK To Have Your Eggs In One Basket As Long As You Control What Happens To That Basket”

Jeff Bezos -> Amazon

Steve Jobs -> Apple

Michael Dell -> Dell

Focus on one thing at a time, and don’t get distracted.

“Persistence Is Very Important. You Should Not Give Up Unless You Are Forced To Give Up”

Not many businesses take less than 6 months to get traction.

Get used to this.

“I Don’t Think It’s A Good Idea To Plan To Sell A Company”

Planning to sell is great in that it gives you a systems-first mentality.

But if you’re thinking long term, selling might not be the best idea.

“It Is A Mistake To Hire Huge Numbers Of People To Get A Complicated Job Done”

Numbers will never compensate for talent.

Get a few people that are REALLY good, then pay them well.

“I Don’t Spend My Time Pontificating About High Concept Things. I Spend My Time Solving Engineering And Manufacturing Problems”

Learn what you’re good at.

If you’re better at product, stick to product.

If you’re better at biz dev, stick to biz dev.

Use your strengths.

“My Biggest Mistake Is Probably Weighing Too Much On Someone’s Talent And Not Someone’s Personality”

Personality is a HUGE factor when it comes to business.

What’s the point of doing business with someone who treats everyone around them wrong?

Play long term.

“I Don’t Believe In Process”

Everyone is figuring out as they go because business is unpredictable.

The ability to adapt is key.

“Really Pay Attention To Negative Feedback And Solicit It, Particularly From Friends”

Everyone can tell you you’re doing a good job.

Few people will tell you where you’re screwing up.

Hold those persons close and listen well/

They want the best for you.

Want to start your own business?

Join my free 6-day mini course and see if ecommerce is the right fit for you!

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