Biz Tips from Musk & Branson

from Linked IN 8/08/13 enhanced by Peter/CXO Wiz4biz

Elon Musk & Richard Branson discussed business for an hour in a Goggle + hangout, offering advice & answering questions from entrepreneurs from South Africa, the United Kingdom, Colombia & Jamaica.

Just do it !!! “If you’ve got a great idea that you think can improve peoples’ lives, just get on & do it,” advised Branson from Necker Island, the 74-acre private paradise he bought more than 30 years ago. “The important thing is doing it.” When someone tells you an idea is crazy, Branson says, test it out — a method he used to turn his original Music company into an Airline business & major conglomerate of several hundred separate businesses.

Get Feedback. “It’s important to take as much “feedback” as you can,” said Musk from his Mansion in California. “The whole idea around creating a company is, that you’re putting together a group of people to create a product or a service, and in order for that to make sense for that group of people … it has to be a really good product or service to the Customers – the users. Otherwise, there’s no point.”

Get good Managers. The trick to taking your company to the next level, Branson said is: “Finding someone who can share the burden & run your business on a day-to-day basis. That way you don’t burn out, and you can be free to have a family life and maintain your mind & body. “If you try to do everything yourself too long, you’ll run yourself down,” Branson says. “Don’t think you’re the only person who knows the answers.”

Beyond Hyperloop. (recently announced hyper speed Transportation system) When a young Jamaican entrepreneur asked Musk what’s next for him after the recently-announced Hyperloop-transportation design, it became clear why some refer to Musk as the “real” billionaire inventor of “Iron Man” movie. “Tele-portation would be cool,” Musk said, noting that his full time responsibilities of leading SpaceX, Tesla Motors & Solar City make a Tele-portation project doubtful. But then, apparently unable to hold back, the entrepreneur mentioned another lofty dream.

Musk’s Future Dreams take Flight. “If I were to start another company in the future, which I don’t think would be anytime soon, it would be to try to create an Aircraft that is supersonic, vertical takeoff & landing, but an electric-powed jet.” It would be clean, super fast & quiet, he says. “If you fly high enough and you have the right geometry of the plane, you could make the sonic boom no louder than current planes. Then the vertical takeoff & landing part would mean you could land much closer to your destination instead of landing at these huge airports with super large runways … If somebody doesn’t do that, maybe at some point in the future I will.”

Comments: What Tips would you give a Startup or Small Business?