The Reasons Behind Tesla Motors’ Success
Electric Cars have not been very popular in the past. Electric car companies have been trying to sale their hybrid/electric cars and have not been very successful. However, in the recent years Tesla Motors has been able to change that negative perspective of electric cars.
Recently, Tesla Motors increased its annual revenue tremendously, like no other electric car company. Tesla has become the household name in the electric car market, but big car companies like General Motors, Nissan, and Ford have poured millions of dollars into developing an all-electric vehicle that weren’t successful as Tesla Motors.
There are many good businesses. However, for a business to become great, there are some other factors that entrepreneurs miss while they are writing their business plans. The purpose of this report is to provide you with the reasons why Tesla Motors is so successful. Essentially, this report will analyze in detail the major factors that helped Tesla Motors to become such a successful company in the recent years. After hours of analyzing data, the report found three essential factors that helped Tesla Motors success, which they are innovation, focus, and Elon Musk.
Innovation has been a key for Tesla Motors. It is an essential feature for any company nowadays. If a company XYZ company does not have innovation, it will eventually die eventually. Since technology is always improving, company in our current times have to keep constantly moving forward and looking for better alternatives for their products or services. Innovation can help tremendously any company. Without maintaining a certain margin of innovation in a company, it will be certainly an easy target for competitors.
Focus on a certain project at a time has been also a great factor for success in Tesla Motors. Not focusing has to be one of the main reason why many companies fail. If your business does not devote their time to focus on one thing at a time, it will certainly fail miserably. Because by devoting all your time and efforts in creating this amazing service or product, this will eventually lead to a creation of a masterpiece. This essential factor has been a key in the success of Tesla Motors in the case of the Tesla Roadster and the Model S cars – first lest finish one then we will continues with the other one.
Elon Musk without a doubt contributes the major part of Tesla Motors’ success. He is best known for being the co-founder of PayPal, a performing payment processing service for Web consumers, for founding Space Exploration Technologies or SpaceX, the first private company to launch a rocket into space, and for founding Tesla Motors.
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