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Small businesses can apply Elon Musk's approach to overcoming financial difficulties by focusing on a few key strategies. First, they should remain calm and composed during crises, as Musk did when Tesla and SpaceX were on the brink of bankruptcy. Second, they should be willing to take calculated risks, like Musk did when he decided to invest his own money into his companies. Third, they should always be looking for opportunities to innovate and improve, as Musk did when he pushed his sales team to exceed projections. Lastly, they should not be afraid to seek external help or partnerships when necessary, as Musk did when he considered selling Tesla to Google.
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When Musk took over in 2008, the future of Tesla and SpaceX hung in the balance. By Musk's calculations, he only had enough money to save one company. Rather than panic, Elon was able to keep his cool long enough for SpaceX to win a contract to become NASA's official supplier for the International Space Station. Another "Tesla might go out of business" occurred again in 2013. It was so bad that Elon had a handshake deal with Google for them to buy and save Tesla. That scenario never materialized because Tesla's sales team was able to beat projections, which sent the stock through the roof.
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Elon Musk's ascension has been described by experts as the fastest bout of wealth creation in history. So how did he do it? In this book, the inventor...
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