How to Get Projects Done With Elon Musk - PM 360 Consulting
17224
post-template-default,single,single-post,postid-17224,single-format-standard,wp-custom-logo,theme-bridge,woocommerce-no-js,ajax_fade,page_not_loaded,,qode-content-sidebar-responsive,columns-4,qode-theme-ver-11.0,qode-theme-bridge,wpb-js-composer js-comp-ver-5.1.1,vc_responsive

How to Get Projects Done With Elon Musk

First Principles

How to Get Projects Done With Elon Musk

First Principles

Who is Elon Musk

  • Elon Musk is working to revolutionize transportation both on Earth, through electric car maker Tesla – and in space, via rocket producer SpaceX.
  • He owns 21% of Tesla but has pledged more than half his stake as collateral for loans; Forbes has discounted his stake to take the loans into account.
  • He stepped down as chairman in 2018, after making alleged “false statements” about a plan to take Tesla private, triggering an SEC probe.
  • SpaceX, Musk’s rocket company, is now valued at $74 billion after its latest funding round in February 2021.
  • He grew up in South Africa, then immigrated to Canada at age 17. He landed in the U.S. as a transfer student to the University of Pennsylvania.

https://www.forbes.com/profile/elon-musk/

How Elon Musk Does Project Management

1. Communication

Musk encourages employees to buck the traditional chain of command. In most companies messages always flow through managers.
“Anyone at Tesla can and should email/talk to anyone else according to what they think is the fastest way to solve a problem for the benefit of the whole company,” he wrote. “You can talk to your manager’s manager without his permission, you can talk directly to a VP in another dept, you can talk to me, you can talk to anyone without anyone else’s permission.”

Source: http://www.businessinsider.com/tesla-elon-musk-how-to-communicate-2017-8.

Managers should work hard to ensure that they are not creating silos within the company. Silos create an us versus them mentality or impede communication.

2. Leadership

Musk employs over 6000 people at SpaceX. He claims, “Leaders are expected to work harder than those who report to them”. According to CNBC, Musk has 3 pieces of advice for how to be a great leader.

  • Hire people who are smarter than you
  • Do not go with the flow- challenge the status quo
  • Focus on your foundation first- understand the fundamentals of what you’re doing Musk understands that teamwork is a necessity for any team or business to succeed. It is integral to use a team that operates in a cohesive and team-oriented fashion. Source: https://www.predictivesuccess.com/blog/elon-musk-top-10-leadership-lessons/

If there is a blockage in the team, this is what happens:I want names named. So if someone is always on the hot seat and is always the root cause for problems, they will not be part of this organization long term. It’s not okay to be unhappy and part of this company, and so if somebody can’t get happy, they get divorced.

Elon Musk

Source: https://www.quora.com/Has-Elon-Musk-ever-fired-a-great-employee-that-simply-missed-a-deadline-or-budget

3. Negotiation, or almost “0 negotiation”:

Musk said no when eBay offered $400 million for PayPal in 2001. He said no again when eBay doubled their offer to $800 million. Even though it would have meant close to $100 million in Musk’s pocket. At the end of 2002, PayPal finally accepted an offer of $1.5 billion, but even then Musk argued against the deal. He decided to accept because of the long term risk that eBay could develop their own payment system.

Elon Musk to Tesla employees: NEVER discount a car! Tesla CEO Elon Musk found out his sales team has been offering discounts on cars and he was furious. He sent them an email which he later made public on Twitter. “There can never — and I mean never — be a discount on a new car coming out of the factory in pristine condition,” Musk wrote. “This is why I always pay full price when I buy a car and the same applies to my family friends, celebrities, no matter how famous or influential”.

4. Powerful Mental Models

Musk’s company SpaceX had three failed launches of its Falcon 1 rocket. In 2015 Falcon 9 disintegrated minutes after take off. This meant that SpaceX lost around $260 million.

Source: https://www.itonlinelearning.com/blog/what-spacex-can-teach-us-about-effective-project-management/. 

After its third successive failure, he immediately spoke to shell-shocked employees. He told them why they had to pick themselves up and keep trying. “For my part, I will never give up, and I mean never.”

One SpaceX employee commented on the power of Musk’s statement. “I think most of us would have followed him into the gates of hell carrying suntan oil after that. It was the most impressive display of leadership that I have ever witnessed. Within moments the energy of the building went from despair and defeat to a massive buzz of determination as people began to focus on moving forward instead of looking back.”

Source: https://www.forbes.com/sites/quora/2017/08/15/how-does-elon-musk-run-his-famously-efficient-meetings/#49aaa42c263c

5. Reduce Everything to “First Principles”

To Musk, prior experiences should not be the basis for making decisions. He encourages thinking based on “first principles”. This is boiling a situation down to its basic, fundamental truth. Then reasoning up from this basic position.

An example of first principles is when Musk was estimating the cost of building a SpaceX rocket. He could have used comparable products on the market as a benchmark. Making decisions using “common knowledge” is the antithesis of first principles thinking. Instead, his team analyzed the necessary parts of a rocket. Then they researched the prices of the raw materials of parts firsthand. As a result, the SpaceX team learnt that they could build a rocket cheaper. The big surprise was that the cost was around two percent of the typical price.

6. Challenge your team to be ultra-prepared for every meeting

Musk is a subject matter expert in most aspects of his companies. He leads by example by bringing his A-game to meetings. This sets the standard for everyone to follow. This makes it very difficult for an employee who does not prepare for meetings. They need to be able to answer a followup question or otherwise show that they have done their homework.

Source: http://99u.com/articles/25075/run-your-meeting-like-a-boss-lessons-from-mayer-musk-and-jobs.

Source: https://www.quora.com/Has-Elon-Musk-ever-fired-a-great-employee-that-simply-missed-a-deadline-or-budget

 

So What Can We Learn From The Way Elon Musk Tackles Projects

Communication

Talk to whoever you need to. On your project, if you need to speak to someone to get something done go and speak to them. There is no need for project teams to communicate through the project manager. Yes, they should keep the project manager informed so they know what is going on. They should not ask the project manager to ask someone else a question. Allow and encourage your project teams to communicate with whoever they need to. This way they can get stuff done.

Leadership

Hire project team members who are smarter than you and can get stuff done. If they are not happy being part of the project find somebody who is. The project manager should focus on project management not project doing. Projects bring about change so challenge the status quo. Do not allow people to slow the project down with statements such as “This is the way we have always done it”. Also, understand the fundamentals of the project. What is the project trying to achieve at a very basic level? Make sure for example that the project scope is easy to understand.

Negotiation

A common complaint from project managers is the negotiation of their plans to come in faster. As a project manager, you should stand your ground and use risk as your guide. If an aggressive timetable puts the project at risk then you need to stand up for your project. They may not like you in the short term but in the long term, they will thank you later on.

Powerful Mental Models

As the project manager, you will have the big picture which the project team will not have. It is part of your role to inspire and motivate the project team to hit the project goals. By communicating the vision and the benefit of the project it will help to motivate the team.

First Principles

Projects can become very complicated and lose their way. A great way to keep projects on track is to do what Elon Musk does and focus on first principles. Once you understand the basics of what you are doing build from there. As a project manager, a great way to show the first principles is in the project plan. Regardless of what level of the project plan you look at it should be easy to understand what is being done. You should not have to see the subtasks below to understand what is being done.

Be Prepared

All project meetings should be a very high standard. There should be a purpose for the meeting. Meetings should not take place because you always have one every week. All meetings should at the very least have an agenda. There should be a record of all the actions and decisions made in the meeting. All project team members should prepare for every meeting. This is so they can contribute and make the most of the time together. Needing to go find out and then come back together for another meeting could delay the project.

More information on how to run successful projects at www.pm360consulting.ie

93 Comments
  • it web hosting
    Posted at 14:28h, 28 August Reply

    If you want to take much from this paragraph then you have to apply such techniques to your won webpage.

  • t.co
    Posted at 08:25h, 30 August Reply

    Hey! I just wanted to ask if you ever have any issues with hackers?
    My last blog (wordpress) was hacked and I ended up losing months of
    hard work due to no data backup. Do you have any solutions to stop hackers?

  • t.co
    Posted at 18:12h, 31 August Reply

    Hello just wanted to give you a quick heads up. The text in your post
    seem to be running off the screen in Safari. I’m
    not sure if this is a formatting issue or something to do with browser compatibility but I thought I’d post to let you know.
    The layout look great though! Hope you get the issue resolved soon. Thanks

  • https://didyagetit.gonnafixit.com
    Posted at 02:57h, 01 September Reply

    We are a gaggle of volunteers and starting a brand new scheme
    in our community. Your site provided us with valuable information to
    work on. You’ve done a formidable activity and our whole neighborhood shall be thankful to you.

    Take a look at my website https://didyagetit.gonnafixit.com

  • scoliosis surgery or
    Posted at 23:10h, 01 September Reply

    It’s enormous that you are getting thoughts from
    this article as well as from our dialogue made at
    this place.

  • your asmr
    Posted at 00:19h, 02 September Reply

    Can I just say what a relief to discover
    somebody that genuinely understands what they are
    talking about on the web. You actually realize how to bring a problem to light and
    make it important. More people ought to look at this
    and understand this side of the story. It’s surprising you are not more popular since you definitely have the gift.

  • Keto Secret Reviews
    Posted at 00:23h, 03 September Reply

    I truly appreciate this post. I have been looking everywhere
    for this! Thank goodness I found it on Bing. You
    have made my day! Thank you again!

    my web page; Keto Secret Reviews

  • asmr their
    Posted at 01:50h, 04 September Reply

    Hurrah, that’s what I was seeking for, what a information! existing here at this blog,
    thanks admin of this web site.

  • Keto Secret
    Posted at 14:07h, 04 September Reply

    Because the admin of this web site is working, no hesitation very quickly it
    will be well-known, due to its feature contents.

    Here is my web-site – Keto Secret

  • http://forum.charmanders-underground.com
    Posted at 22:57h, 04 September Reply

    I always spent my half an hour to read this webpage’s articles or
    reviews everyday along with a mug of coffee.

    Feel free to surf to my page :: http://forum.charmanders-underground.com

  • asmr is
    Posted at 19:58h, 05 September Reply

    It’s very trouble-free to find out any topic on web as
    compared to textbooks, as I found this paragraph at this site.

  • scoliosis surgery off
    Posted at 07:14h, 06 September Reply

    You ought to take part in a contest for one of the finest websites on the net.
    I most certainly will recommend this blog!

  • app.gumroad.com
    Posted at 15:37h, 10 September Reply

    Hi there, I enjoy reading all of your article.
    I wanted to write a little comment to support you.
    asmr https://app.gumroad.com/asmr2021/p/best-asmr-online asmr

  • quest bars an
    Posted at 09:22h, 11 September Reply

    Link exchange is nothing else but it is simply placing the other person’s website link on your page at suitable place and other person will also do similar in support of you.
    quest bars http://bitly.com/3jZgEA2 quest bars

  • bbs.cnction.com
    Posted at 15:30h, 11 September Reply

    I like this site very much, Its a real nice office to read and obtain info.

    Visit my webpage bbs.cnction.com

  • Tacoma Farms CBD Oil Review
    Posted at 21:08h, 11 September Reply

    Wow that was odd. I just wrote an extremely long comment but after I
    clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Anyway,
    just wanted to say fantastic blog!

    my web site Tacoma Farms CBD Oil Review

  • http://bit.ly/
    Posted at 00:40h, 12 September Reply

    Thanks for the marvelous posting! I quite enjoyed reading it, you may be a great
    author. I will always bookmark your blog and will come back very soon. I want to encourage
    you to continue your great work, have a nice holiday weekend!
    cheap flights http://1704milesapart.tumblr.com/ cheap flights

  • coub.com
    Posted at 11:44h, 12 September Reply

    I all the time used to read paragraph in news papers but now as I am a user
    of internet thus from now I am using net for articles or
    reviews, thanks to web. scoliosis surgery https://coub.com/stories/962966-scoliosis-surgery scoliosis surgery

  • bit.ly
    Posted at 23:39h, 12 September Reply

    Excellent post. I definitely love this website. Stick with it!
    scoliosis surgery https://0401mm.tumblr.com/ scoliosis surgery

  • http://bitly.com/3nkdKIi
    Posted at 12:35h, 13 September Reply

    This post provides clear idea in favor of the new users of blogging, that really how to do blogging and
    site-building. ps4 games https://bitly.com/3z5HwTp ps4

  • www.iherb.com
    Posted at 23:31h, 13 September Reply

    Since the admin of this site is working, no uncertainty very shortly
    it will be renowned, due to its feature contents.
    quest bars https://www.iherb.com/search?kw=quest%20bars quest bars

  • Helene
    Posted at 12:13h, 15 September Reply

    I am extremely impressed with your writing abilities and also with the format on your blog.
    Is that this a paid subject or did you modify it your self?
    Anyway keep up the nice high quality writing, it’s rare to
    look a nice weblog like this one nowadays..

    Feel free to surf to my website … Helene

  • http://urbandevelopment.com.pl/mylist/index.php?a=stats&u=lashundaibbott
    Posted at 15:01h, 16 September Reply

    I have been absent for a while, but now I remember why I used to love this
    blog. Thanks, I’ll try and check back more frequently.

    How frequently you update your website?

    Here is my blog post – http://urbandevelopment.com.pl/mylist/index.php?a=stats&u=lashundaibbott

  • Eulah
    Posted at 04:53h, 18 September Reply

    Dead pent subject material, thank you for information.

    my website; Eulah

  • ps4 games on
    Posted at 04:49h, 25 October Reply

    Hello, i think that i saw you visited my website thus i came to “return the favor”.I am attempting to find
    things to improve my web site!I suppose its ok to use a few
    of your ideas!!

  • ps4 games but
    Posted at 12:24h, 26 October Reply

    Currently it seems like WordPress is the best blogging platform out there right now.
    (from what I’ve read) Is that what you’re using on your blog?

  • asmr our
    Posted at 00:15h, 15 December Reply

    Paragraph writing is also a excitement, if you be familiar with then you can write otherwise it
    is complicated to write.

  • 토토사이트
    Posted at 04:28h, 07 January Reply

    https://amd1080.com/totosite/
    It truly is nearly extremely difficult to see well-qualified individuals on this niche, even though you seem like you fully grasp exactly what you’re raving about! Gratitude

  • 파라오카지노
    Posted at 04:35h, 07 January Reply

    https://main7.net/thenine/
    I merely desire to advise you that I am new to having a blog and completely adored your website. Likely I am prone to store your blog post . You indeed have impressive article information. Value it for giving out with us the best domain report

  • tinyurl.com
    Posted at 07:43h, 16 March Reply

    Spot on with this write-up, I absolutely believe this amazing site
    needs much more attention. I’ll probably be returning to read
    more, thanks for the info!

  • tinyurl.com
    Posted at 22:57h, 16 March Reply

    What’s up i am kavin, its my first time to commenting anyplace,
    when i read this post i thought i could also make comment due to this brilliant piece of writing.

  • http://tinyurl.com
    Posted at 07:52h, 19 March Reply

    This website definitely has all of the information and facts I wanted about this subject
    and didn’t know who to ask.

  • http://t.co
    Posted at 22:28h, 19 March Reply

    Good day! I know this is kinda off topic but I’d figured I’d ask.
    Would you be interested in trading links or maybe guest writing a blog article or
    vice-versa? My site goes over a lot of the same subjects as yours and I feel we could greatly benefit from each
    other. If you are interested feel free to send me
    an email. I look forward to hearing from you!
    Superb blog by the way!

  • tinyurl.com
    Posted at 04:18h, 20 March Reply

    When someone writes an piece of writing he/she maintains the
    idea of a user in his/her mind that how a user can know it.
    Thus that’s why this article is perfect. Thanks!

  • http://tinyurl.com/y8g3bspj
    Posted at 06:37h, 20 March Reply

    This is my first time go to see at here and i am in fact pleassant to
    read all at single place.

  • http://tinyurl.com/y7m69yq7
    Posted at 10:33h, 20 March Reply

    I like what you guys are up too. This type of clever work
    and exposure! Keep up the terrific works guys I’ve
    added you guys to my blogroll.

  • air ticket
    Posted at 03:14h, 06 April Reply

    fantastic issues altogether, you simply gained a brand new reader.
    What could you suggest about your publish that you simply made some days
    in the past? Any positive?

  • cheapest flights guaranteed
    Posted at 09:31h, 06 April Reply

    Very rapidly this site will be famous amid all
    blogging and site-building users, due to it’s nice posts

  • gamefly
    Posted at 05:34h, 07 April Reply

    Hey there, You have done a fantastic job. I’ll definitely digg it and
    personally suggest to my friends. I am confident they will be benefited
    from this website.

  • gamefly
    Posted at 15:22h, 10 April Reply

    My partner and I stumbled over here from a different web page and
    thought I might as well check things out.
    I like what I see so i am just following you.
    Look forward to looking into your web page repeatedly.

  • http://tinyurl.com/
    Posted at 23:11h, 09 May Reply

    I believe that is one of the such a lot vital info for me.
    And i’m satisfied reading your article. However should observation on some common issues, The web
    site style is great, the articles is actually great : D. Excellent activity,
    cheers

  • tinyurl.com
    Posted at 14:07h, 11 May Reply

    Great post.

  • tinyurl.com
    Posted at 18:32h, 16 May Reply

    Pretty great post. I just stumbled upon your blog and wished to mention that I’ve really enjoyed surfing around your blog
    posts. After all I will be subscribing in your feed and I am hoping you write again soon!

Post A Comment