Elon Musk is one of our generation’s most well-known entrepreneurs. He recently bought twitter too. But was he rich right after his birth? No, he has faced a lot of ups and down, be it physical health or mental health. Elon Musk and Twitter are all over the news.
He’s the first to land a rocket ship that he designed and launched successfully. Through his work at PayPal, he helped lay the groundwork for online payments. With the electric Tesla, the tesla owner is helping to save the environment, and he’s even laying the groundwork for the first human trip to Mars, and also bought Twitter, Elon Musk and Twitter is everywhere.
For a good reason, he’s been dubbed “The Real-Life Iron Man.” He appears to be capable of doing anything.
Elon Musk can teach any entrepreneur a lot and mental health lessons. Buying a platform in which you are most active is just Elon Musk and Twitter thing. Today, we’ll distill it down to our top five takeaways from this legendary businessman who has maintained his mental health while being the wealthiest person in the world.
1. Your primary goal should not be to make money
Money cannot buy happiness; we often end up having a debate on this topic. Opinions differ, but our primary goal should be happiness instead of money. Happiness is directly linked with mind and soul, keeping mental health on point, while money is directly proportional to anxiety.
Money can be a powerful motivator though sometimes it affects a person’s mental health, especially when you don’t have much of it.
You must discover a driving force within yourself—a more profound purpose that propels you forward even in difficult circumstances.
What will happen when you make a lot of money if money is your primary motivator? That drive will dwindle quickly. This was the way he maintained a balance between money and mental health.
2. Failing Forward is a strategy for overcoming failure (with a Plan)
Elon Musk has had his share of setbacks. For instance, he had two rocket launches fail, costing upwards of $60 million each.
He did, however, devise a backup plan. He promised that if his company, SpaceX, couldn’t successfully launch the first rocket by the time they spent $100 million, they’d shut down. So they gave it one last shot to make it work.
SpaceX finally succeeded on the third—and final—launch, winning a $6.1 billion contract with NASA for 12 resupply flights to the station.
Understand that failure is a real possibility when starting a business; being depressed about your failure can only make things worse. After all, the majority of companies fail. On the other hand, failure should not deter you from pursuing your goals. It is a fantastic opportunity to learn.
However, you should have a backup plan to avoid wasting all of your time and money on an idea that won’t work out.
Elon musk has never led; his failure stopped him. The general thing common among entrepreneurs is that they stop after they have failed somewhere, which affects their mental health badly. You need to know the line you need to keep between professional failure and private mental health. Failure is just a part of success.
3. Probability should never be used to make decisions for you
Most people will tell you that your dreams and business goals are unattainable.
But just because the odds aren’t in your favor doesn’t mean you can’t succeed. In all of Musk’s endeavors, you can bet the odds were stacked against him. With Tesla, for example, he aimed to start a new car company in an industry where no new company had succeeded in nearly a century.
He faced doubters on every level, but he was not depressed or had other mental health issues. He persisted in proving them wrong until Elon Musk Tesla became the burgeoning success it is today.
Don’t let the odds dictate how you live your life. It’s better to go for a long-shot dream than to never have tried at all—and you’ll be glad you did.
4. Accept Your Worst-Case Situation
What about failure scares you the most? Often, your worst-case scenario is what keeps you from achieving true success. You believe it will be so bad that it will not be worth the risk. This will help you stay aware even on your bad days. You won’t fall apart as you knew that it was already coming.
Early on in his entrepreneurial career, Elon Musk embraced his worst-case scenario. He was compelled to live on $1 per day. He knew money wouldn’t be an issue after experiencing what it was like to be poor and realizing he could handle it.
Consider what your worst-case scenario is. Will you have to return home to your parents or sleep on a friend’s couch for a few weeks while you look for work? Is it going to be that bad?
You’ll almost certainly still be alive and have another chance to succeed.
You can give yourself the courage to take more significant risks and achieve your goals by recognizing and accepting your worst-case scenario.
5. Don’t let your laurels grow old
There’s nothing wrong with celebrating and appreciating your achievements. However, don’t take too long—always strive to improve.
“It’s critical to have a feedback loop,” Musk says, “where you’re constantly thinking about what you’ve done and how you can do it better.” That, I believe, is the single best piece of advice: constantly question yourself and consider how you could be doing things better.”
It’s no surprise that some of the world’s most successful people, such as Elon Musk and Alabama Crimson Tide football coach Nick Saban, don’t let their achievements linger for too long. For example, after winning a championship, Saban is known for looking ahead to the next season.
The types of problems we face daily significantly impact our success and happiness. The more you push yourself to improve and challenge yourself, your mental health problems will become better.
Elon Musk is a one-of-a-kind businessman. He’s defied the odds time and time again, building thriving businesses where others said it was impossible.
Use these mental health lessons to fuel your entrepreneurial endeavors, and never give up even if the odds are stacked against you.
What other business lessons have you taken away from Elon Musk and Twitter? Please let us know in the comments section below!
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