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What Business Owners Can Learn From Tesla.
I don't want to mess with ya. You are the talk of the town. The stores are filled with people wanting to buy you. Your CEO Elon Musk is a stud. He founded PayPal, started Space X, and is now CEO of You.
Why are Tesla cars the talk of the town? Here are 5 things entrepreneurs can learn from the success of Tesla Motors.
1. Be innovative. Design a product or perform a service that speaks for itself. If your stuff is flat out outstanding, it will make marketing it so much easier (so much less stress!). Word of mouth is so huge.
CEO Elon Musk said "never produce a bad product." He even discontinued the Tesla Roadster because he couldn't stand "100%" behind it. The Tesla car is beautiful. It's sleek. The interior is amazing with all sorts of technology that comes with it. People say it
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Diversify your product line. Don't just sell one thing. This may help you smooth out the ups and downs of your cash flow. Think about what else you can sell to your customer - or an adjacent target market that may be interested in what else you have to offer.
Tesla is also an OEM (original equipment manufacturer). They sell batteries to Daimler for its Smart Cars. Tesla's core business is selling cars - but they have found a way to find some additional sales.
4. Find a way to make your product or service serve a greater social cause. If people feel that your product can help a greater cause rather than just themselves, they will be really motivated to buy it. People want to change the world, and can get really get inspired when they are participating in something bigger than themselves.
Many people think that the Tesla cars are friendlier to the environment. No gas - all electric - zero fuel emissions. (I know there are reports about greater use of electricity and people talk about what Tesla is going to do with all of those batteries.) But the bottom line is that many people think that buying electric cars is better for the
The most important aspect of the Ted speech presented by Swartz is that it provides business owners and future entrepreneurs with a different perspective as to how to grow their company’s
When the Tesla Model S was first released, Consumer Reports named the Electric Vehicle (EV) the most remarkable auto ever tested. The consumer protection publication; that has been looking out for their readers since 1936; said that the Flagship vehicle from Elon Musk’s Motor Company, was essentially flawless. Its performance on the track and in safety testing was second to none. However, due to a drop in quality class; from average to below; the Tesla Model S has been removed from Consumer Reports’ Recommended List.
A Tesla automobile features so many innovative designs. Automobiles are 100% electric, they include wireless updates, auto pilot, massive batteries, chargers, and the design. The Model 3 features a price point that is very similar to a gas-powered car in the modern century. The back seats are ultra-modern that can accommodate baby seats and the back seats can be folded down to produce more trunk space just like cars today.
For instance, Harley Davidson may be forced to change their marketing strategy due to the entrance of a new competitor into the market. Second, Harley Davidson has to learn new skills and technologies quickly. For example, technologies are changing rapidly, so it is crucial for Harley Davidson’s business plan to change or alter in order to keep up with innovation. Third, this organization has to effectively leverage its core competencies while competing with its competitors. This is, Flexibility is required for Harley Davidson to learn how to use primary value-chain activities and support functions in the way that allow the organization to produce their products at a lower cost with differentiated features compare to their competitors in the market
Elon Musk is the visionary leader of multiple companies, including SpaceX and the Fortune 500 listed company Tesla. He was born in South Africa and later immigrated to Canada and then the United States as a teenager. His meteoric rise to power occurred during the height of the Dot-com bubble of the late 1990’s and early 2000’s, with his first two companies being internet based service providers. Utilizing the profits from his business ventures to continue to forge new markets, he truly established his reputation as an innovator with his subsequent companies, which saw him develop
The future American commuter will undoubtedly have to transition from the use of fossil fuels to new alternatives due to the diminishing availability of the nation’s oil resources. How will America respond to this upcoming issue? It is difficult to predict which alternative fuel source America will ultimately choose, but with the premier of Nissan’s electric powered Leaf and other companies; such as Tesla Motors and Chevy, with their electric cars ready for market, the electric car may be winning the race to become the new standard for the gasoline alternative. Electric cars resolve long standing environmental issues, but it will need to maneuver around many roadblocks to become a marketable consideration for the general public. The cost of electric cars, currently on the market, makes them an impractical purchase for the average consumer. If cost is not the growing concern in today’s economy which prevents the consumer from considering this option; they may deny the technological advance due to battery storage capabilities and the inadequate infrastructure in place to refuel and provide for them.
Tesla Motors Inc. is an American public company which is known worldwide for its experience in designing, manufacturing and also the selling of electric cars and electric components for vehicles. The motor was started back in the year 2003 in San Carlos, California in the United States (Teslamotors.com, 2014). The company had its headquarters in Palo Alto and at the time of its inception, Elon Musk was its chief executive officer (CEO) (Hunger, 2010). Environmental concerns have been raised from time to time because of the dependency on the gasoline-fueled engine as the chief auto powertrain technology.
2. What were the critical marketing decisions that helped Tesla stand out among other companies and become the lead innovator in its
Strengths Since first reporting profits in 2003, Tesla Motors has been climbing it’s way to brand awareness ( Hirsch, 2015). While the ever-growing and changing company has many accolades, there are three core strengths Tesla Motors has to offer. These core strengths include, competitive advantage, pricing, and supply chain management.
“Musk found in Silicon Valley a wealth of the opportunity he’d been seeking and a place equal to his ambitions.” Opportunity has a direct connection to success, but without determination opportunity means nothing. Determination is the first factor evaluated when determining someone's potential success. Elon Musk’s determination has the ability to literally will something into existence. From an early age Elon learned that determination is the greatest thing a man can possess, An abusive parent drilled that along with many other things into Elon’s head. He speaks very little of his childhood, but credits it for making him into the man he is today. This multi-billion dollar man wasn’t built in a day. Elon Musk: Tesla, SpaceX, and the Quest for
Here is the list of characteristics that allows Tesla to stand apart from its competitors:
There is no doubt that electric cars are the most appealing from of transportation in the world. They provide two of the most important key points of good transportation: reliable and efficient. They are reliable due to their simplicity of their power trains and the advancement of technology they have. They are efficient because they don't use any gasoline and because their motors can pass the zero-emission standard. Even though they may seem like a boring form of transportation, they offer good features that help keep the Earth's air clean and they help reduce pollution.
Electric cars are becoming increasingly more necessary, and have more advantages than disadvantages. Electric cars help to decrease the noise, pollution as they are much quieter. They do not emit any (or much less) carbon emission than petrol cars. Electric vehicles are the greenest mode of transport in the personal transportation industry. For each litre of fuel used in an engine produces more than 2.5kg of CO2. CO2 will be produced by an electric car but still a very little amount. It is also possible to use renewable power or a green energy supplier in the electric car. Thus it would lead to less polluted and safe working environment for all of us. However, safety is a big concern with using vehicles. The fluids in the batteries actually take impact better than a fully made gas car because it is not that flammable. Petrol cars and diesel cars are more flammable than electric cars so they are greater of taking impact in the event of an accident. I think that this is a very good reason because fewer people would get injured or hurt. This would save money because electricity is cheaper than gas and electric cars are easy to operate. Also is very ECO –friendly which mean that it is cheaper to run and have to pay very little road tax. In a pure electric vehicle there’s nothing combustible and have far fewer moving parts than you would find in a petrol or diesel car.
Successful entrepreneurs have a clear image of what they want their future to be like. They hold a clear picture of the direction the company should take and have a clear plan of how they will make their vision a reality (9 essential traits of successful entrepreneurs, 2013)
We learned a lot of things in this course, but I think the most important lesson I learned is that it’s not easy to be an entrepreneur. I was surprised to hear in the first class that 80% of startups fail, but after reading The Art of Start and E-myth Revisited I understood why this happens more often than one might expects. Some people start their own businesses for the wrong reason and some start with wrong mindset. I’ve always thought that if someone has a brilliant business idea and hardworking they will succeed and grow their business. However, now I know that there are many things to consider before starting any business. In fact, there are many strategies that an entrepreneur could follow to achieve success, such as know your customers, work “on” the business, and how