Elon Musk, could very well be one of the most inspiring entrepreneurs on the planet.
There was a period a few months ago where I did a fairly deep dive, learning as much as I could about his companies and philosophy.
He became my new hero.
That being said, I watched an interview of him a few days ago where he said something I thought was a bit off.
“Begin with the end in mind” wrote Stephen Covey in his book The 7 Habits of Highly Effective People.
Would it surprise you to know that 2 billionaires became billionaires by not following that advice?
Both Bill Gates and Elon Musk said in this interview that when they started their companies, they had no idea how big or significant their companies would become.
When I finished up the books for 2017 and saw that our little company had sold $177, 990 in products and paid out $152,248 in commissions for the year, my first thought was “Wow, I know some people who earn in a month what our little company earned in a year.”
Sigh.
Then I thought about the vast majority of businesses that not only fail to turn a profit their first year, they don’t even make it past the first year.