What does Elon Musk have that you don't?

May 12, 2018 – 05:10 pm

spaceBesides a few billion dollars and rocket ships, MINDSET. Specifically, he didn’t worry about making it big. He also didn’t worry about losing everything.

I heard an interview recently where Musk told Neil deGrasse Tyson that he once lived off of $1 a day. Now, to be fair, that was a dollar a day just for food. The food was hot dogs and oranges. Wouldn’t be my first choice, but to each his own.

Could you live off $1 a day? Elon can.

But this brings about a bigger lesson. Musk said that when he went a whole month spending only $30 on food, he realized that he could pretty easily find a way to earn $30 a month. This is the key. So many entrepreneurs put this big number in their head as the revenue they need to hit to be able to make a full time living off their own business.

That number is big because they have an expensive lifestyle that they’re not willing to give up. The five figure mortgage payment, the several hundred dollar car payment, the money spent eating out, nights on the town, tropical vacations, expensive clothes, the list goes on.

Now I’m not saying these people are bad because they don’t want to give up their lifestyle. But they also can’t look around and wonder why their business isn’t doing better. The revenue goes right to all these unnecessary expenses. The revenue is adequate, the profit is bad.

What are you afraid of?

When your adequate revenue turns into small profit, you live in fear. You live in fear that you won’t be able to pay the bills and you’ll ultimately end up out on the streets. This means that rather than taking a long term approach to growing your business, you’re constantly focused on getting just that next dollar so you don’t go bankrupt. You’re constantly focused on the short term sale.

A lot of entrepreneurs hedge this fear by keeping a full time job to pay the bills. But that 40 hours each week spent working for someone else is 40 hours a week not spent growing your business. So it takes a back seat and revenue stays flat. You can quit the job, but then you’re living in fear like I just described. It’s a no-win situation. Or is it?

What’s the worst-case scenario?

First off, you won’t end up on the streets. Chances are, unless you have a severe drug or alcohol problem, you’ll be ok. So putting aside the thoughts of rummaging through dumpsters for food and sleeping under a bridge next to the freeway, let’s think about the real worst-case scenario.

Source: www.driventobetter.com

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  • avatar Where does the Musk oxen lives?
    • Muskox live in northern Canada and Greenland as well as in Alaska, where they were re-introduced. They were also reintroduced in northern Europe and Asia. A link is provided to the Wikipedia article on the muskox, and a map indicating its range can be found there.
      Note that there are two colors on the map showing the range. One is the range of the animals where they were re-introduced, and the other color is the range of the animals prior to re-introduction biology. It should be noted that the muskox was re-introduced into the places where it once roamed but, for whatever reasons, had …

  • avatar Where does the musk ox live? | Yahoo Answers
    • The native habitat and range of the muskox is in the arctic areas of Greenland, Canada, and also in parts of Alaska.