Elon Musk and Space X, entrepreneurship at its finest

Elon Musk and Space X, entrepreneurship at its finest

Looking through the internet you will find lots of definitions for what entrepreneurship is and what makes someone an entrepreneur, however just one word and one name can define a lot better what it really is, those are the word Risk and the name, Elon Musk.

Elon Reeve Musk is a 46-year-old South African investor and founder of very well-known companies as PayPal, Tesla and Space X just to name a few. Since his early years, he was interested in the art of creating, risking and making profit out of his passions.

Musk has experience starting innovative and risky businesses obtaining not only profit, but also lessons while losing his investments in the process of accomplishing the ideal company.
By 2002 Elon had founded Space X, with the mission to, according to his webpage “revolutionize space technology, with the ultimate goal of enabling people to live on other planets”.

While reading up on the mission of his company, one may think that it sounds like something massive or unachievable. However by knowing the trajectory of the creator we can ask ourselves, if there is something impossible for someone who has altered the way people were doing businesses in the past by getting into the startups world, enabling a platform through the internet named PayPal making it much more accessible and affordable to deposit and make payments instantly online?

As Elon himself admits, it was not an easy task for him to catapult his company towards success. During the first years since creation, no investor would dare to bet its capital on a private company that was entering directly to compete with NASA and other governments, while developing low cost rockets.
Acting according to the circumstances, Elon decides to spend all the profit he had made in the past with other companies to inject working capital into Space X, understanding that there was no risk he was not willing to take, in order to develop his idea.

Over the years, it started gaining recognition and was compared at the time for its contribution to the space industry with the revolutionary Ford Company in the automotive field. This was due to the fact that Space X was introducing new and more efficient ways of manufacturing rockets with a lot more capacity than those launched in the last century in addition to decreasing the costs of such elements by re-engineering war missiles, transforming them into lighter, safer and larger spacecrafts.

Thanks to his diligent work Elon started receiving financial proposals from his biggest competitor, the NASA, allowing him to create, develop and later, successfully launch the Falcon Heavy, a spacecraft being considered by experts as the most innovative and powerful rocket ever placed in orbit.
The importance of such invention lies in the fact that it has launched into outer space for the very first time, a private rocket containing a car from a private company as Tesla, opening the doors to discovering new ways to explore the universe and perhaps change the perception of how we understand it now.

It also demonstrates that it is possible to start commercializing the space experience by selling services such as research tourism through the private sector leaving aside the governmental monopoly of space activities, setting a before and after era of the space conquest.

None of the above would have ever been possible without a strategic vision of an entrepreneur that understood that by risking and acquiring the right financing he was going to be able to develop such things.
Now, taking it into a day to day process, Summar as a factoring company welcomes people, whose dreams to grow and create a recognized brand are a top priority. We help entrepreneurs reach their goals as their financial partner, providing the necessary cash flow to get ahead, while counting with a well-prepared staff willing to understand and take ownership of your business as much as you would do.

We are revolutionizing the way we work in the market by strategically operating in a global context, helping our customers improve their service portfolio and expand their interests to new industries and potential markets. Let Elon be one of the many successful examples to start re-thinking and creating the company you want.

Leave a Reply