SpaceX founder Elon Musk has been deemed as the real-life Iron Man. He has taken serious risks to achieve the level of success that his companies have gained today - that's why he is one of the best examples of being an entrepreneur.
Inc. has uncovered a theory on the SpaceX founder's success. This can be applied by all aspiring entrepreneurs.
"It doesn't matter if it's going up against the banking system (Paypal), going up against the entire aerospace industry (SpaceX), or going up against the U.S. auto industry (Tesla)," SpaceX co-founder Jim Cantrell said. "He can't imagine NOT succeeding, and that is a very critical trait that leads him ultimately to success."
"What separated us, I believe, was his lack of even being able to conceive failure. I know this because this is where we parted ways at SpaceX. We got to a point where I could not see it succeeding and walked away. He didn't, and succeeded."
The publication noted that entrepreneurs need to be more prepared for success than failure. It's keeping the end in sight before you even start to develop your business. This also means that leaders need to work backwards, beginning with where you want your brand to be in and detailing the steps needed to achieve that goal.
Moreover, Musk's ultimate goal is for humans to be able to live on multiple planets. To make that a reality, the market would need affordable and reliable rockets. Apparently, the SpaceX program is a good way to start towards that end.
Meanwhile, Elon Musk has recently spoken to Tesla investors on Tuesday. According to Investor Place, the Tesla CEO knew that their products could change the world, which he did. He was able to prove that an electric car can be "sexy, mass-marketable and functional."
"Musk became a guy we can relate to," the publication wrote. "He even became a guy we can cheer for, as he acknowledges he's had some luck to go along with his sweat-equity."