5 Habits That Helped Elon Musk Become a Billionaire

Elon Musk's achievements are not random; they come from habits anyone can develop. Here’s how to adopt his mindset, work approach, and growth strategies with practical steps and real-life examples.

1. Strong Work Ethic: Manage Your Time Wisely

Musk is known for working 100 hours a week during Tesla's challenging production phase. His approach emphasizes smart time management rather than just hard work. He organizes his schedule into 5-minute segments to reduce downtime.

Why It Works:

• It limits distractions and switching between tasks, which can reduce productivity.

• It prioritizes crucial tasks, such as addressing engineering issues rather than getting caught up in endless emails.

Inspiring Story: Jeff Bezos launched Amazon in a garage, packing orders while planning for growth. He closely monitored his time to scale his business effectively.

Try This Today:

• Use a timer to break your day into 25-minute focused work sessions, known as the Pomodoro Technique.

• Identify your top three priorities for the day and tackle those first.

2. First Principles Thinking: Solve Problems Like a Scientist

Musk doesn’t go with the flow—he recreates it. When rockets seemed overpriced, he asked, “What materials are used? Aluminum and titanium. What do they cost?” The answer was just 2% of the original price. This led SpaceX to make more affordable rockets.

Why it works:

• It challenges common beliefs (e.g., "Electric cars can't be cool"—Tesla showed they can).

• It encourages innovation by focusing on fundamental truths.

Inspiration: Aristotle questioned gravity using first principles over 2,300 years ago. Later, Newton built upon this. Start with the basics.

Try this today:

• When facing a challenge, ask yourself:

1. What is the actual problem?

2. What is the simplest solution?

3. What is holding me back?

4. Take Calculated Risks: Bet on Yourself

Musk used his PayPal earnings to fund SpaceX and Tesla, both of which almost failed. Critics deemed him foolish. Yet he calculated the risks: “If the odds are 10%, bet 10 times.”

Why it works:

• Significant rewards need bold actions.

• Failure provides lessons faster than being overly cautious.

Inspiration: Sara Blakely invested her life savings ($5,000) to start Spanx. She reached out to manufacturers until one approved her idea. Now, she is a billionaire.

Try this today:

• Write down one ambitious goal (like asking for a raise or starting a side project).

• List three steps to take this week. Small risks can build confidence.

3.Obsessive Vision: Aim 10X, Not Just 10%

Musk doesn’t settle for small gains—he aims for revolutions. Tesla’s vision is not only to produce electric cars but to eliminate reliance on fossil fuels.

Why it works:

• Big visions attract talent, investors, and media attention.

• They drive creative solutions (e.g., SpaceX made rocket reuse a reality).

Inspiration: Steve Jobs didn’t just enhance phones—he transformed communication with the iPhone, music with the iPod, and animation through Pixar.

Try this today:

• Write your goal and then multiply it by 10. How could you reach that?

• Share your vision with someone else. Passion is infectious.

4.Build A+ Teams: Collaboration Matters

Musk recruits specialists (like NASA engineers and AI researchers) and empowers them. At SpaceX, interns can propose rocket designs.

Why it works:

• Great teams are better than individual geniuses.

• Diverse perspectives solve problems more quickly.

Inspiration: Google’s founders hired top talent like Sundar Pichai and provided them with freedom. The result? Successful products like Chrome and Android.

Try this today:

• Identify one task to delegate (such as chores or work projects). Use your time for more important work.

• Praise a colleague’s skill. This fosters trust and collaboration.

Your Turn: Start Small, Think Big

Musk’s habits focus on consistency rather than superhuman abilities:

1. Work smart, not just hard.

2. Challenge established norms.

3. Take smart risks.

4. Dream bigger than most think is feasible.

5. Surround yourself with talented people.

This Week’s Challenge:

Choose one habit to implement. For instance:

• Spend 30 minutes learning about rocket science or another unfamiliar subject.

• Rethink a daily task using first principles (like evaluating the need to commute—could remote work be an option?).

Elon once commented that he could either observe change or be part of it. You don’t need a fortune to begin—just the determination to take action.

Concise Action Clues

1. Relentless Work Ethic

Clue: Set 25-minute focus sessions today. Start with just one without distractions.

2. First Principles Thinking

Clue: Ask yourself, “What is the simplest truth?” Next time you’re unsure, note three basic facts.

3. Calculated Risks

Clue: Do one thing that makes you uncomfortable this week. Pitch an idea, contact a mentor, or invest $50 in education.

4. Obsessive Vision

Clue: Write your 10X goal now. Display it in your space and recite it daily.

5. Build A+ Teams

Clue: Delegate one task today. This will allow you to focus on higher-priority work.

The first step is to be honest with yourself.