Elon took on the auto industry and the aerospace industry…and won!
So he knows what it takes to be the little guy and do what it takes to innovate, grow and win against some of the biggest companies in the world.
Make no mistake when you are the little guy with big competitors they will try and stamp you out.
And since the big competitors benefit from economies of scale you rarely can compete against them on price…
So to win you need to create a superior product.
As Elon puts it: “If you’re a new company entering an existing marketplace where there are large entrenched competitors then your product or service needs to be much better than theirs…
It can’t be a little bit better. Because then you put yourself in the shoes of the consumer and they say why would you buy it as a consumer. You’re always going to buy the trusted brand unless there is a big difference.
So a lot of times an entrepreneur will come up with something which is only slightly better. And it can’t just be slightly better, it’s got to be a lot better.”
With that attitude in mind they built the original Tesla roadster.
The same commitment to quality remains in the design of new products, like new Tesla Roadster.
Think about what kind of product you would love to have and put as much passion as possible into the product you create.
You have to love your product in order for other people to love it too.
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