Elon Musk Faces The Cons of Having Your Own Business

Elon Musk Faces The Cons of Having Your Own Business

Some of the good things about running and having your own company tend to include things such as flexible hours, determining how and when you want to be paid and how much, as well as even your target market. There are however cons to it. As the owner of the business, you are also the face of the business and give accountability to those who are investing and have personal interest in its success. Then there are those cases when the media decide to make you the target, which if it goes wrong, means losing more than just face.

The CEO of Tesla Motors Elon Musk faces this task as he talked about his plans for Tesla. This of course includes plans for its prized flagship the Model S. So far the company has taken heat from New York Times and that controversial tidbit had cost Tesla some $100 million dollars and resulted in some customers cancelling their orders. The damage is evident in the change in their stock price that prior to the release of the article, was 39.4 and after the article’s release it went to 34.4. Frankly it is safe to say that the article had contributed but was not the sole cause as Tesla has faced other major issues. With that in mind Musk simply seems to seek growing the business. He outlines certain stapes that he intends to take to ensure this is done. These include Tesla’s plans to keep ramping up Model S production to 500 units per week, up 100 from where they are now as well as to expand distribution first in Europe and then in Asia and to focus on become more efficient at producing vehicles so that it can expand its profit margins. Of course this means if they can do so it means that Tesla’s cars will be more affordable and available to prospective customers.

Tesla has gone through a lot in the last year, in so far that even Apple wanted to take a bite out of them in court for adopting a similar sales strategy. However in spite of this it is safe to say that Tesla will continue to push forward and make themselves a better company Elon Musk at the helm.

(LINK)

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