Elon Musk is an extremely successfully entrepreneur who has built a number of different companies throughout his life. To reach the level of success that Musk has achieved, time management and planning is key. He has been able to maintain a 100 hour a week schedule for more than 15 years. So how does he do it? Here are some of the most important factors that help him reach his goals.
Batching
Some tasks go extremely well together. If you want to put in an 18-hour day like Elon Musk does, then you need to learn to make the most of the time. A big part of these is combining tasks. While you are sifting through spreadsheets, there is no reason that you cannot be answering a few emails or talk on the phone. Elon Musk does not even take time for lunch. Instead, he combines it with a business meeting.
Let The Product Do The Talking
One thing that you will never see is an advertisement for Tesla. Elon Musk does not believe that their money should be wasted on such things. Instead, Musk believes that all efforts should be focused on perfecting the product. Advertising does not actually make the product better. The best marketing money can buy is simply having a product that people trust. Even a great marketing team will have problems selling a less-than-desirable product.
Prepare Employees
When Elon Musk walks into a meeting, it is expected that his fellow employees will be ready for anything that he throws at them. If Musk wants to be successful, he understands that he needs a strong team around him. Employees understand the level of preparation that is required and they are talented enough to meet these expectations. This helps to save time because you do not waste valuable time waiting for an answer that someone should have already known. Building a strong team will help you in both the short and long term.
Feedback Loop
In addition to having employees who are prepared, Elon Musk has built a team of trusted advisors who provide consistent and truthful feedback. It is not productive to have people constantly agree with you, in fact, it is counter-productive. Fostering an environment in which people can provide open feed back is vital to the long-term success of a product. Although you will not always like what you hear, your company will be better off because of it.
Scheduling
As is the case with any extremely productive person, a daily schedule that is closely adhered to is vital. It begins the moment you wake up. Time should not wasted on mindless games or apps on your phone when you wake up. Hit the ground running. For Elon Musk, there is no time in the day to enjoy a break. His daily planner is broken into five-minute slots, which are always filled. The key to a good schedule lies in the logistics. Build your schedule in a way that allows you to maximize work and minimizes time commenting or moving between tasks.