Over the last several weeks I have researched the methods that successful entrepreneurs like Elon Musk and Jeff Bezos use to deal with scarcity of time and resources. I thought this topic was interesting because with all their responsibilities they still find ways to be innovative and impact the world.
One of the ways that Jeff Bezos and Elon Musk both deal with a scarcity of time and still innovate their companies is designating a specific time to think of new ideas and solve problems. Elon Musk in a Ted talk “shares how he spends at least 1 day a week thinking of new ideas and how he can innovate his companies.” and Jeff Bezos does something similar, in an interview he says how he “devotes specific hours of the day or days of the week to the more trivial, time consuming tasks like replying to emails and use the rest of the time improving your company.” These two both show how prioritizing your tasks and organizing your time it you can be more successful with a scarcity of time.
Another way that Elon Musk, Jeff Bezos, and Richard Branson all deal with scarcity of time is by depending on others. Jeff Bezos has a phrase “Disagree and commit”and he uses it almost everyday. This phrase makes decisions making quick while allowing company members to express their opinions along with showing their fellow workers that although they disagree they still support the idea. Similar to Bezos Elon Musk depends on his workers too. He says he only spends 2 to 3% of his time on his new company the Boring company, and rellegates responsibilities to his trustworthy workers.
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