Business Advice from Elon Musk

  • Business is like eating glass and staring into the abyss.
  • Exciting for the first several months.
    • Then reality starts coming in
  • If your customers love you your chances of success are dramatically higher.
  • Focus on pleasing your customers.
  • Listen more to critical feedback
  • In a high growth company you can be cash flow negative.

January 28th Conversation with David

  • If you think that you’re a unique snow flake and you’re doing things that have never been done before, you’re likely to fall into despair because what you’re doing may be impossible.
    • 4 Minute Mile, example.
      • How did he do it? The trainer tricked him into thinking that he was running slower than he was.
    • If you think that somebody has done it before, then it is much easier.
  • Environment “limits” (or expands) what you think is possible.
  • If it rhymes people believe it.
  • “That is the rabbit hole. You ultimately choose to believe or not.”
  • Things that do not conform to your beliefs they do not make it into your brain.
  • An uber human can see what a person’s perspective filter is, and modify what they say to match that filter.
  • Fit into a person’s preconceived boxes so they use little mental energies as possible.

You Gotta Have a System – John Maxwell

Notes

  • Learn Systems to do work quickly and efficiently.
  • Systems are for managing time.
  • Systems help to prevent wasted energies
  • The biggest time waster is looking for things that are lost.
  • Systems must be used as a livestyle, not a one time thing.
  • Work in blocks of time.
    • Clump similar tasks together.
  • Create an area where you can work without interruptions.
  • Systems of delegation, aren’t so you can be lazy. You do it so you can become more effective.

Systems Help To:

  1. Manage time.
  2. Prevent wasted energies
  3. Multiply creativity and frees you up of trivia.
  4. Maximize our progress.

How Systems Maximize Life

  1. Decrease chaos
  2. Delegate your load. Pass off to others.
    1. Keep ball carriers close by.
    2. Bring people who are going to be doing the work to meetings so they understand the context.
    3. Delegate everything possible. Ask “Who can do this.”
    4. Do not waste time and energy repeating information
      1. Most communications problems can be solved by proximity.
    5. Train people how to handle problems.
      1. Every decision you make, make the decision and then explain why you made the decision to the other person. You will teach another how you think.
  3. Double your time. They make you time effective.
    1. Do 2 or 3 things at once whenever possible.
    2. Listen to learning audio in the car.
    3. Take projects with you on trips.
    4. Have work with you whenever you may have to wait.
    5. Work and play at the same time. (Ballgame bring legal pad)

Quotes

  • “How you spend your time is more important than how you spend your money. Money mistakes can be correct, time is gone forever.”
  • “If you go to a meeting and you’re taking the notes, you ain’t the leader.” – John Maxwell

5 Step Equipping Process – John Maxwell – Notes

Note: Begins at 25:41 and ends at 27:42

  1. I do it.
    1. You can’t teach what you don’t know.
    2. We may teach what we know, but reproduce what we are.
  2. I do it and you’re with me.
    1. Mentor
    2. Coach
    3. You watch me and observe me.
    4. Be able to ask questions.
  3. You do it.
    1. You do it and I am with you.
    2. I watch you.
    3. Help you to get better.
  4. You do it.
    1. You don’t need me anymore.
    2. You do it well.
  5. You do it, and somebody is with you.
    1. Compounding.
    2. You teach someone else.

Breakthroughs – John Maxwell – Notes

 

  • Breakthroughs
    • Events that mold us, and move us forward.
    • We are never the same internally or externally
  • A Dream
    • Inspiring Picture of the Future that energizes your mind, will and emotions, empowering you to do everything you can to achieve it.
  • You never forget breakthroughs
    • If you can’t remember a breakthrough, it isn’t a breakthrough

 

  1. Groundbreaker
    1. Encourages you to start.
    2. John’s was a personal growth plan.
  2. Icebreaker
    1. You were clogged up and couldn’t get going, but an event gets you moving
  3. Windbreaker
    1. Encourages you to stand. Adversity of dreams wants to knock you flat.
  4. Cloudbreaker
    1. An event that allows you to be able to see far.
  5. Tiebreaker
    1. Heres what I want for myself, here is what would be best.
    2. They are not the same thing.
  6. Chart Breaker
    1. An event that takes the dream way beyond what you think could happen.
  7. Heart breaker
    1. Events that cause you to stop and re-prioritize.
  8. Record Breaker
    1. An event that encourages you to smile

 

Quotes

  • Dead people don’t add value to others’ lives.