Using Elon Musk to Start Your First Business (His Principles = Your Success) #Best Education Page #Online Earning

Elon Musk founder of XCOM which later

became PayPal founder of SpaceX Tesla

Motors the boring company and probably

several more companies after this videos

published he is a master at building

businesses big businesses industry

disrupting businesses and today we're

gonna tap into Iran's brain a little bit

to discover how he thinks about problems

and solutions to help you discover and

tackle your first business - I will say

that by the end of this video you're not

just gonna have money magically appear

in your pockets but we are going to

understand how Elon thinks and some of

the major principles he uses to tackle

problems and solutions so that you can

get started - first we're going to talk

about the three interwoven principles

that Elon lives and breathes by then

we're gonna go over a three step process

with those principles in mind to help

you get a result and that's all we want

a result because if you're watching this

right now you've probably tried or just

dreamt about building a business and you

haven't gotten a result yet so let's

work toward that also before we get

started make sure you hit that like

button I appreciate that

and if you don't know who I am my name

is Pat Flynn I help people start

businesses best-selling author I keynote

around the world and most of all I'm

here to help people like you because I

was in your position at one time after

getting laid off in 2008 and all I

needed to get me started with some help

that's why I'm here to help you and at

the end if you like what you hear well

make sure you subscribe so you can get

more so let's get started I want to ask

you what is the number one absolute

worst thing you could tell yourself when

you are thinking about starting a

business maybe you have an idea he's

given us some thought and then what's

the worst thing you could say after that

well that's impossible

do you think Elon said that to himself

when he was thinking about building evey

cars that had great range and were fast

or when he's been thinking about

colonizing Mars or building a tunnel

system underground or selling a

flamethrower to make money no way Elon

doesn't think like that principle number

one

nothing is impossible that is unless

physics says so I remember when I

started my business back in 2008 to help

architects pass an exam I just got laid

off from the architecture industry I had

this idea I had been given this

opportunity and you know what I was

telling myself well that's gonna be

impossible and of course I use

confirmation bias to validate that in my

head so after getting excited about

potentially writing a book to help these

architects pass it

here's exactly what I told myself Pat

you've never written a book before this

is never gonna happen

Pat you didn't go to business school you

don't even know how to run a business or

sell anything online Pat you aren't

qualified to write a study guide leave

that to the experts Pat even if you

write this thing it's just a waste of

time

nobody's gonna read it Pat you went to

school for five years for architecture

you were meant to be an architect not an

entrepreneur can you relate to that do

the initial whatis like what if this is

awesome what if this wins what if this

is the new thing for me change to those

other what-ifs what if this doesn't work

what if nobody likes it what if it's a

failure

that's impossible in my case was an

absolute false statement and it's likely

a false statement for you as well it

just felt impossible because I had never

done it before but not knowing how to do

something and then something being

impossible those are two completely

different things and if you don't

believe that well I'm sorry I can't help

you anymore one thing that really helped

me was realizing that other people had

done this before me which was really

nice and reassuring because I knew that

well it's not impossible because

somebody else has done this too just in

different industries reaching out to

others and finding other people who have

done those things before me and getting

help from them getting mentorship from

them and learning from them reading

their books it wasn't impossible I just

had to learn when things seemed

impossible try to see how you might be

able to prove that try to uncover the

underlying truth which takes us to

Ellen's second principle here which is

the idea of first principles elan talks

about this all the time and here's a

video clip from him talking about

exactly what he means by first

principles but first principles is kind

of a physics way of looking at the world

and what that really means is you kind

of boil things down to the most

fundamental truths and and say okay what

do we sure is true or sure as possible

is true and then reason up from there

that takes a lot more mental energy

do you read example that like what's one

thing that you've done that on that you

feels work for you sure so somebody

could say in fact people do that battery

packs are really expensive and that's

just the way they'll always be because

that's the way they've been in the past

you're like well no that's that's pretty

dumb you know because if

if you applied that reasoning to

anything new that then you wouldn't be

able to ever get to that new thing right

so you know it's like you can't say oh

you know horses

nobody wants a car because horses are

great and we're used to them and they

can eat grass there's lots of grass all

over the place and you know there's not

like there's no gasoline that people can

buy so people never get never get never

gonna get parched right did say that

now I'm not building rocket ships or

electric vehicles like Elon Musk but my

videographer and I we partnered together

and we actually used first principles

that approach to build a physical

product in the videography space that

launched quite well in February 2019 let

me walk you through it first let's start

with the problem holding a camera for

vlogging and being able to put it down

for resting or filming on a table this

wasn't easy to do the solution that most

vloggers were using when we were

tackling this problem was a popular

flexible tripod as you can see here

which was originally made flexible to

wrap around trees and poles and get some

really amazing shots from angles you

couldn't get with anything else

everyone who was vlogging had this and

they were using it for a completely

different reason so it just became the

solution everybody was using but was it

the best solution so we ended up using a

first principles approach to discover

the underlying truth the fundamental

pieces of this problem so we could build

back up from there and create a better

solution in reality we needed it to more

than anything just hold itself up on a

table and be stable and be strong the

question was well did it have to be a

tripod it was interesting because we did

a lot of research there were a number of

other types of solutions to hold cameras

like monopods and snake looking things

however tripods are tripods for a reason

their configuration is strong and stable

and for the kinds of cameras people are

using on their vlogs bigger DSLR cameras

we really wanted to make sure that it

was strong and sturdy so we went with

the tripod configuration that was sort

of first principle baseline okay let's

build up from there so again at the

fundamental level what might this thing

need to do it needs to hold the camera

like I said not just be a sturdy base

for a camera but

actually hold the camera itself so we

looked at what was out there and a lot

of these solutions had all heads with

also played adapters on them just a lot

of extra stuff that we found through our

research wasn't actually necessary for

the target audience that we had which

were vloggers all that extra gear the

ball had the plates that added a lot of

additional waiting for vloggers their

most important reason for having a tool

was to hold it while being on the go and

to just be sturdy and steady on a table

so we ended up initially designing our

solution without a ball head without any

plates simple easy did the job

fundamental again at the fundamental

level we were like okay do the legs need

to bend is the flexibility of the legs a

requirement for our target audience to

get use out of this thing and to do

exactly what they wanted it to do and in

our research we found out that while the

answer was no so we designed the legs of

the tripod rigid and strong and out of

metal so that it did what it needed to

do and nothing more and it did it

extremely well and that added stability

in rigidity was also countering a lot of

the problems that people were having

with those flexible tripods they were

either following over because they were

unbalanced or the balls on those

flexible legs would just sort of begin

to lose their strength and weaken over

time and not even be able to hold a

strong camera anymore and then once

again to finish off at the fundamental

level we just needed this to be easy to

hold and film sort of on the go with a

really nice grip sturdy but also simple

and the easy so a person can get a quick

shot which was not possible with the

bendy leg one and that is when the

switch pod was born so like I said rigid

strong lightweight easy to use holds

over a hundred pounds doesn't wrap

around trees but guess what if you need

something to wrap around trees go get

that other thing but if you want a

sturdy strong tripod that folds into

each other packs up lightly only 11

grams this is for you I'm not here to

pitch this to you although I just did I

just wanted to talk about how we used

first principles to discover the shape

the sizing and the fundamental design of

our particular product which launched in

February of 2019 on Kickstarter now the

business is thriving it's on Amazon it's

sewn B&H and other

retail stores were even having

conversations with big-box retailers now

to test some spots and stores to amazing

when you break things down into first

principles as you are starting out you

make things so much easier as Elon says

simplicity enables both reliability and

low cost think of cars is a Ferrari more

reliable than a Toyota Corolla or Honda

Civic this is how Elon has reduced the

cost for the things that he is producing

right now in addition to reducing the

costs he's also speeding up the

manufacturing process to I'm talking

about his cars the rockets and soon the

starships I mean rockets used to cost

300 to 400 million dollars and now with

Elon in his Falcon 9 I mean they're

going into space for you know 40 50

million bucks a significant decrease and

finally this takes us to our third and

final principle the one that takes us

from conceptualization to reality and

that is first results execution before

Tesla came around EVs electric vehicles

were considered dead on arrival

any tenth to the past to make EVs was

just not well-received at all first of

all they were ugly they were expensive

there was very very little range nothing

really worth talking about and then the

hybrids

you know the Priuses and whatnot had

come about a little bit but they never

really took on they were more for the

sort of more environmental driver more

than anything

Elon however had a plan with Tesla and

it was a multi-stage plan that was gonna

take a number of years building a solid

business takes time but if you have a

plan or at least an approach that you'd

like to take a multi-stage process to

get there starting with the first result

execution well you could speed things up

entirely here's what Ellen posted on

Tesla's website August 2nd 2006 it was

in short his master plan which was four

steps number one build sports car number

two use that money to build an

affordable car number three use that

money to build an even more affordable

car number four while doing above also

provide zero emission electric power

generation options the plan well guess

what it worked the sports car was the

Tesla Roadster money from that was used

to build and manufacture that Tesla

Model S and the X at the same time and

then that money's been used to build and

manufacture the model threes and the

soon to come or at least maybe you're

watching us now that has the why's that

now available too which are more

mass-market much cheaper but names

working that first step though the Tesla

Roadster was this idea of the first

result execution Ilan's dream was to

build an affordable car that the masses

would use electric vehicles for

everybody

however he knew he couldn't start there

he needed to provide a result first so

he created the Tesla Roadster to prove

to everybody who had objections that hey

EVs can be fast it can be fun and they

can have longer ranges too and if that

didn't do the trick for people well then

there was no point in moving on but he

knew that it would work and it did so he

built the Roadster on actually a Lotus

vehicle and it was fast it was awesome

and impressed everybody and blew them

away which then opened up the doors to

building the Model S and the X and then

the Model 3 in the model why after

here's the truth

if you're gonna be starting a business

don't worry about getting a thousand

customers or 100 customers or even ten

customers right away focus on getting

one person one customer one client one

result it's not scalable and it's gonna

take more time upfront but through the

process of getting that first result

here's what's gonna happen

number one it proves that the solution

works and guess what it's also an

amazing way to validate that it works

because if it doesn't well at least it's

only contained with that one

potential customer or the few that you

try on the beginning versus the world

that sees this product or solution of

yours and is not interested at all and

it would be a shame for them and for you

to learn about that after prove it with

one person or one client first number

two it's going to help you understand

the process of how to deliver this

solution doesn't matter what it is

physical product digital product going

to the process of helping find one

result for one customer is gonna teach

you a lot about well what what what

actually is that stake here and what

does it take and how might you actually

interact with this person we're just

going to get them to say yes so that

other people can say yes to it may also

teach you that you actually don't like

or enjoy this and what a great way and

time to find out now before later when

even if it is successful but you hate it

we don't want that either number three

it can get you some funds initially if

you pre sell it for example

and before it'll offer you an actual

real-life testimonial one that you can

then use to prove that the solution

works for other clients other leads who

may be interested in working with you -

or buying a product number five and the

most important one of all the one that's

gonna unlock for you as a first-time

business owner this will prove that you

can do it that it's no longer impossible

trust me with this one even if it's just

a couple dollars that you learn as a

result of offering something to somebody

it changes something in here mentally

and then when you start talking about it

with others later there's just a renewed

or new confidence that comes with that

and people can read through that because

the truth is if you're not confident

about what you're selling well how can

you expect others to be confident in

what you're selling either all great

things after you get that first result

for somebody so get that that's what you

want so let's recap those three

principles really quick before we move

on to our step by step process so that

you could start your business and get

some results - so principle number one

nothing is impossible unless physics

says so number two first principle

thinking go down to the underlying

truths the fundamentals and then build

them back up from there and number three

first results execution serve one person

one client one customer get them a

result everything will happen after that

so how might you take these principles

and turn it into action well I'm glad

we're talking about this because a lot

of times you hear about principles and

it's just like okay well what do I do

with this information here's what you do

three steps super simple step number one

find a problem if you're having trouble

trying to determine what a problem might

be well go and talk to people find a

particular market see what they're

struggling with ask them questions like

what's your biggest challenge right now

or ask them questions like what was the

last thing you bought that didn't

actually go to plan and you were a

little bit disappointed by these are all

awesome questions that you could use to

determine where the problems are in your

target market and might I recommend also

my book will it fly which goes through a

much more extensive process of research

and determining problems but likely you

can find them they're there you just got

to keep your eyes and ears open step two

use first principle thinking to uncover

the building blocks that can then be

used to create a solution so

in this problem what are the fundamental

truths here and again conversation with

your target market is gonna be really

helpful at this point and you could even

find discussions online and look at

other solutions and look for reviews of

what's out there right now so you can

determine well what are the problems

with what people have attempted to

provide a solution for so anyway first

principle thinking going to the

underlying fundamental truths and then

building a solution back up from there

and then step number three testing that

solution with one person one client one

customer to get what one result that's

what you want the one result so let's

get that first customer let's get that

first client let's get it you can do it

it's simple it's not easy but it's

simple

hopefully I've simplified it for you

because I know that we tend to over

complicate things and just to give you

some reassurance if you have over

complicated things in the past guess

what welcome to being an entrepreneur

that's just what we do and if at any

point in this three-step process the

cycle something doesn't work well go

back to the previous step where it did

and then keep going from there

part of entrepreneurship is also failing

it's trying and failing and getting to a

learning point that's what it's all

about true failure only happens when you

give up Elon

you watch this one day thank you so much

for your inspiration I'm a big fan thank

you for helping me think bigger thank

you for allowing me to channel you

through this YouTube channel to

everybody watching this right now so

really quick if you enjoy to any part of

this video make sure you hit that like

button and consider subscribing I would

appreciate that because I have a lot

more to share with you here to serve you

as a business owner no matter what level

you're at I just want to share because a

lot has happened in my life when I

started entrepreneurship so many great

things I want to pass it on to you too

now really quick can you do me a quick

favor comment below and let me know

which of these principles do you feel is

the most important to me I think they're

all important but which one for you has

been the biggest revelation to help you

kick start your business career today

let me know in the comment section below

team Flynn you're amazing thank you so

much for being here and the support I

appreciate you wishing you all the best

and as always team Flynn for the win

peace

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