How Elon Musk Was On the Brink of Bankruptcy...

elon musk strained

by Tom Hasker, Associate Partner, Lighthouse International

Have you ever looked at someone else’s new idea and thought; ‘that’s easy, I could have come up with that!’ Well, in the case of creating a new company - or two - the reality is very different! In fact it can push many people to the brink of a nervous breakdown!

Elon Musk has changed the game in several industries and in particular private space travel and electric cars. However, two of his companies; Tesla Motors and SpaceX (now leading lights in their industries)  nearly didn’t get past Christmas 2008. At that time Musk had invested everything he had into each company, risking the failure of both, for the success of both. Taking that risk put him under incredible strain, but having the resilience to come back from the brink is a sign of a strong character. Check out the Business Insider video below to hear him describe the situation...

musk video

To build a greater resilience in ourselves it’s important to learn to build our character and that takes discipline. It’s character that enables us to handle testing situations. Entrepreneurs like Musk are in the fortunate position to have people to support him and help him through situations like this which is why a support network is so crucial.

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Elon Musk image courtesy of OnInnovation @ Flickr