Elon Musk's Startup Principles

Evaluate your current understanding and application of key startup principles.

Reflect on what 'super hard' means for you and your current situation. Quantify the hours and sacrifices, and create a realistic schedule that accounts for rest.

“Instead of getting an apartment we just rented a small office and we slept on the couch.”

Monitor and log your working hours to ensure you're meeting your 'super hard' commitment. Compare to a hypothetical 50-hour work week and track your energy levels.

“If somebody else is working 50 hours and you're working a hundred, you'll get twice as much done in the course of a year as the other company.”

Use 'if-then' planning to help overcome barriers to working hard. For example, 'If I feel tired, then I will take a 15-minute break.'

Identify and analyze key competitors in your market. Focus on their strengths, weaknesses, pricing, and customer reviews.

“If you're entering anything where there's an existing marketplace against large entrenched competitors, then your product or service needs to be much better than theirs.”

Articulate how your product/service is significantly better and what problem it is uniquely solving. Explore social proof and commitment devices to drive adoption.

“It can't be a little bit better. It's gotta be a lot better.”

Network with talented and hardworking individuals, seeking out potential team members. Utilize online and offline events, targeted outreach, and building relationships with potential mentors/mentees.

Actively seek out mentors who can provide guidance and offer mentorship to others to foster growth and build your network.

Assess current expenses and determine if they directly contribute to product improvement. Cut non-essential costs and track ROI on marketing campaigns.

“They spend money on things that don't actually make the product better.”

Create a detailed schedule to block off time for deep work. Eliminate non-value added activities to focus on moving the needle.

Brainstorm potential risks you can take in your current situation. Quantify the potential upside and downside of each risk.

“Do something bold. You won't regret it.”

Frame the risks in terms of what you stand to lose by not taking them. Use scarcity and urgency to further motivate yourself.

Evaluate your current understanding and application of key startup principles.