Why is Elon able to run several companies simultaneously? 🤔

Managing multiple companies (or even jobs) is not just about being smart or working hard.

We talk about performance a lot – but when you need to squash 3 full-time roles into a regular business day, efficiency takes an entirely different turn of events.

Results beat time. Saving minutes makes a difference. 🕐

My first experience running 2 businesses was in 2011 while co-founding a startup with Nikolay Totev alongside DevriX.

Since then, I’ve been refining my schedule weekly to make the most out of energy + output while saving every bit of time possible.

Here are 10 of the most valuable lessons from running 2+ businesses:

1. Results > Time. Working 80-hour weeks doesn’t matter if you can yield better results in 15 hours. Generate revenue, optimize processes, limit emergencies, increase retention – results that matter.

2. 60-90 minute corporate meetings turn to 30 minutes, then 15 minutes. Some switch to ad-hoc 3-minute calls, async emails, or even texts. I WhatsApp and tweet with founders/investors 20x more than I sit in long meetings.

3. Group stability vs. growth. Splitting “keeping the lights on” and R&D is integral. Build a barebone process that keeps the business on with limited attention. This frees up time and resources for growth initiatives.

4. Networking is crucial. While most cocktails or meetups don’t bring value, some masterminds or specific events matter. Knowing the right people can open the right doors.

5. Amplify executive branding. Companies are more valuable than individuals, but running 2-4 marketing teams/brands is far more expensive and time-consuming than an executive brand. Elon’s clout translates to Tesla, SpaceX, Twitter, SolarCity. PR carries over and is worth investing in.

6. Working “on” the business. Being in the weeds is known to limit progress, but it amplifies at scale. Alotting 80% of the time on strategy/vision/intercepting patterns and loops in the process is FAR more helpful.

7. Delegation. Founders are often afraid to delegate – but serial founders must delegate as much as possible. It’s a quick lesson on kicking someone in the pit and letting them train on the job.

8. Systems Optimization. Email filters, forwarders, virtual assistants, secretary services, Zapier webhooks. Aggregating and saving emails and workspaces in one go can save 30 seconds, but amplified at 400 messages a day, it adds up.

9. Availability. Similarly to “Results>Time”, availability is a key currency. Picking up the phone on a weekend or at 11pm carries a lot more value than sitting idle for 2 hours in the early afternoon. Lots of deals are made in the evening or at weekend events for a reason.

10. Resilience. Serial foundership can amplify all businesses together, but it’s exhausting and constant optimization takes time. While others can afford a 15-minute water cooler chat, that’s not you.

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