Tesla and SpaceX founder Elon Musk is among the most (in)famous entrepreneurs of our era. His successes (and failure) have been well-documented, yet his unparalleled imagination and innovation have given him incredible resilience.
When students from Draper University asked Musk his advice for starting up, he quoted a friend, saying it’s like: “like eating glass and staring into the abyss.” His followup advice for those seeking to follow this path? “DON’T DO IT!”
If you are launching a small business, don’t be discouraged. Entrepreneurship is deeply rewarding and offers the opportunity to make a difference and transform lives. Musk’s point is people often put entrepreneurship on a pedestal and overlook its stress and sacrifices, especially in the beginning. I go through it daily and have some key advice so you can too.
Technology has empowered millennial entrepreneurs to find success younger, launch more companies and create higher profit margins than previous generations, yet around three out of four venture-backed startups still fail. I am proof if there’s an ironclad will, there’s a way. As the co-founder and CEO of two digital firms, I have to be healthy, organized and ready to lead a team of over a dozen inspiring individuals every single day.
Like Musk said, if you are hardwired for entrepreneurship, there is no other option. Fortunately, with over decade’s experience, I can share the steps, skills and strategies necessary for both professional and personal success.
Ask Yourself: Why Are You Becoming An Entrepreneur?
Hint: The answer can’t be purely financial. Of course, money is a motivator, but it can’t be the only one. There are many great reasons for getting into this business. The ones that resonate most with me are the desire to keep learning, the need to do and build things and the desire to change the world.