Elon Musk's mother unearthed the 1995
photo of him fixing a car window and
people said you knew nothing about cars
hashtag found this photo he joked he's
come full circle with cyber truck a
hundred and forty six thousand
pre-orders with eight billion dollars
worth of future revenue within 48 hours
after Elon Musk cyber truck launched
amazing.just with deposit alone Elon
Musk has collected tens of millions of
dollars today I'm gonna teach you five
billion dollar lesson that you can learn
from the cyber truck launch regardless
if you are in business for yourself or
are you just curious what made that
launch so successful now if you have not
watched that particular video make sure
you go watch that video after this video
you'll get more out of the five lessons
billion dollar lesson number one
controversy sells now before the site by
truck launch Elon was already getting a
lot of publicity a lot of buzz around
this new launch this new car the whole
world is waiting for it what's gonna
look like when it's revealed a lot of
people guess what at first hated the
design they say it looks like a car from
Mars
they say Elon is crazy did he gets
confused is it a car for SpaceX this is
not a car for planet Earth it's feels
unfinished a lot of people they say that
they looks like a truck from Total
Recall some say that it looks like a
paper airplane some say that it looks
like a lego creation it doesn't matter
the key is a lot of people are talking
about the cyber truck everybody's
talking about it
no different than when the Joker movie
comes out it was an underdog and then
everybody was talking about it
people are making reviews about it same
thing with Cybertron you can see it on
social media comment below if you've
seen on social media how much publicity
cyber truck gets compared to a typical
truck or car launch it's a big
difference
love it hate it it doesn't matter he is
getting a lot of publicity and that's
the genius of Elon so doesn't matter
what you do
controversy sells don't be afraid to
sometimes offend somebody love me hate
me just make sure they don't ignore me
you need to get attention to marketplace
what do you need to do controversy sells
billion dollar lesson number two
leverage your personal brand for
publicity let me ask you a question do
you know the name of the CEO of Audi do
you know the name of the CEO of BMW do
you know the name of the CEO of Ford do
you do you know the name of the CEO of
Tesla phone name Elon Musk my question
is why why do you know Elon Musk and you
don't know the CEO of all these other
automobile companies because they're
never fully built out and leveraged
their personal brands versus Elon Musk
he did so think about it when you are a
personal brand it's much easier to get
publicity because let's say you want to
get on a TV show you want to be
interviewed you want to get on radio you
want to get on podcasts all these other
platforms or all these other media well
it's kind of difficult to do it as a
company right and some companies they
have what we call spokeperson but it's
way more powerful when you are the
leader of the company that you are the
CEO of the company that you are
promoting your brand you stand behind
your product no different than Warren
Buffett promoting fresh air hathe waste
no different than which a branson
promoting version it is the same when
you have a strong personal brand you
could get extra publicity
you could go to places that other people
cannot go and one thing I've learned
over the years is an entrepreneur and
that is what you do changes now this is
very profound right it's down what you
do changes just because you're in this
business today doesn't mean you will be
in this business 10 years from now
industry changes what you sell changes
when you have a strong personal brand
when you leave with a strong personal
brand people buy from people they know
like and trust
so Elon Musk if he wants to he could
talk about that cyber truck presented a
launch two months later he could talk
about SpaceX it doesn't matter because
you're not just buying the product and
yes you are buying a product but you're
also buying the personal brand you have
a relationship with the personal brand
billion-dollar lesson number three host
a life event you see most automobile
companies when it launched a new product
they might run some TV commercials they
might do some radio ads they might run
some newspaper ads but it's never a
launch even they try to do a launch they
try to do a little announcement but they
don't get a lot of attention the media
wants to know what is Elon gonna do what
is he gonna say this is itself
entertainment for the public very very
powerful which by the way he learned
there from Steve Jobs Apple Steve didn't
just talk about product he launched a
product Elon didn't just talk about the
new cyber truck he launched the new
cyber truck through demonstration which
we'll get into one genius thing that he
did is actually he sold the product
before he actually creates the product
so cyber truck doesn't go into
production until late 2021 it's going to
be a
and yet he has already collected tens of
millions of dollars in deposits except
the costs of making their prototype that
is cash flow for the business not that
he needs a cash flow but there is cash
flow for the business so I want you to
think about how you can apply this in
your business can you actually sell
something before you create it so let's
look at a different scenario what if at
the cyber truck launch the response from
the public actually wasn't spectacular
that people actually don't like the
truck didn't sell that well didn't
didn't sell a billion dollars worth of
pre-orders what what happened what does
it cost
Elon accept the prototype then he would
just take the feedback from the
marketplace and say you know what people
like this and they don't like this and
they hate that let's change it let's
improve it and then he could steal we
launched the next truck isn't that
brilliant
now people love the truck they loved it
so much they would make a deposit great
we now know there is a proven demand
proof of concept crazy concept but proof
of concept now we go make this cyber
truck you see the difference very very
powerful and other thing that he did it
this is a bonus lesson he utilized the
three boxes strategy now if you have not
watched that video you can click the
link here where I talked about the three
boxes and how you could use pricing to
create demand for your product and how
does Elon Musk apply the three boxes
strategy you could see with the cyber
truck there are three different models
you have the 39,900 one you have the
$49,900 one and then you have the sixty
nine thousand nine hundred dollar one
when you watch the video you'll see
exactly what I mean and what he did very
very brilliant
now here's my prediction you can date it
right now he's my prediction when the
car comes out because is so unfinished
people would get very very creative
they would ping put on different pink
color on it right some I make it black
some might make it silver someone make
it blue and somebody make it yellow who
knows but people would be able to
exercise their own creativity what they
want to do with the cyber truck as a
result when you see this thing driving
down the highway you see a four truck or
any other trucks and you see this thing
in some interesting patterns or color
everybody would be talking about it when
everybody talks about it when you see
enough you say to yourself that's
actually a pretty cool truck maybe I
should get one boom right there
Ilan close you that's my prediction
let's see what happens billion dollar
lesson number four selling against now
if you watch the entire announcement the
entire presentation the entire close it
is a close don't be mistaken Ilan was
closing from the stage you would see
something quite fascinating he's not
telling you what the truck is more so
he's telling you what the truck isn't
he's selling against the conventional
wisdom what a typical truck would look
like first of all it doesn't look like
any typical truck and he would do their
comparison right he would do different
demonstrations and one of the
demonstrations that I love that he did
was to see pulling a truck the two
trucks cyber truck and Ford which one is
more powerful which one has more power
and I love what he did he first showed
the two trucks and then you could see
that it's just the cyber truck it's
kicking ass right and then he said oh it
was uphill by the way leave it a humor
tilt the camera is like oh man it is no
match no competition not even close
so Elon was bragging but in a very
humorous entertaining kind of way and
just to demonstrate hey you know what
our truck our side my truck is different
so in the marketplace sometimes yes you
tell people here's what my product is
these are the features these these are
the benefits
very crowded marketplace sometimes the
best way to cut through the noise is to
tell people what your product isn't what
is not who is not fun you would get more
attention just like when Ilan was on the
Joe Rogan show smoking the weeds you
know may not be the best idea for the
CEO of a public company to be smoking
weeds you know on social media and you
know they hurt him a bit but that also
created a lot of controversy and
publicity around Elon Musk may not be
the smartest thing to do but if you
think about it now more people are aware
of who he is and most people know who is
already but still there's new audience
because of that incident who wasn't
paying attention to Elon Musk now they
are paying attention to him billion
dollar lesson number five we view your
flaws now one of the highlights from the
cyber truck video you will see it when
the window was broken during a
demonstration twice now the whole world
was talking about why the window broke
and what happened now you might think
all now that the car doesn't work it
wasn't what Ellen promised like the
whole world it's it's laughing at the
demonstration maybe however think about
it a lot of YouTube videos you could see
it people are dissecting and analyzing
hey why the window broke what actually
happened was it planned was it an
accident how could Ilan's engineer
allowed that to happen
Tesla what the heck is going on what I
say is who cares if it's planet I think
that is brilliant if it's an accident
that's a very very good accident because
people are talking about it and they're
hardcore fans of Tesla I could tell you
that doesn't actually prevent them from
buying if anything it gives them more
confidence because it's a fan of Tesla
is what
they're thinking wow this is
embarrassing
when Elon Musk knowing his personality
he's gonna fix it before production so
the final product is gonna be get much
better I'm buying that truck I'm placing
the order for that cyber truck today
great you sell more trucks for the
audience they're not expecting it to be
you know to be like bulletproof and I'm
approving all this stuff anyway who
cares it is just a strong demonstration
like that's pretty gutsy and people talk
about all the time
so I want you to understand that it is
not a product demo its closing from the
platform it is a skill and now I do
argue and I would say that Elon could
probably work on his platform closing
skill his communication skill his stage
presence a little bit more but guess
what he is the CEO of Tesla a kind of a
tech company so for him I think that
works for him
that it is not sold smooth little bit
geeky introvert that plays very well
with the personal brand that's my take
on it but I do think there are some
things that you could work on so how can
you apply this in your business don't
say your product is perfect tell people
what is the issue what are some of the
flaws if you have some and we all have
some all products have some no products
are perfect this reminds me of kind of
the Starbucks coffee cup in Game of
Thrones now I would argue it's pretty
crazy for nobody to catch that during
editing for Game of Thrones that coffee
come on the table but then guess what
everybody was talking about it it was a
flaw but yet now the fans who are game
of throne they're like what the heck is
that that's a coffee cup the fans who
are not gamer fill what coffee cup let
me watch Game of Thrones and find out
now they're watching the daunting 10
times put it in their common if you've
done their right
is it right they watch the episode again
and again try to find that two seconds a
flaw people like to see that so if there
are flaws about your product we view it
maybe tell the audience you know what
this product the flaw it's very
expensive tell them a fun it's not for
everybody it's good it's powerful it
works but it's expensive don't try to
hide the fact that it is expensive or
maybe you tell them hey this is great
but it only works in certain situation
it doesn't work in this situation it
gives people comfort instead of trying
to make crazy claims that you cannot
back up people know people are skeptical
so if there are flaws we view it up
front to your audience it builds trust
it builds trust with the marketplace so
what are your thoughts what do you think
of the cyber truck launch comment below
if you want to see more of these type of
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