Nov 17, 2016 07:35 AM EST By Jane Reed, UniversityHerald Reporter

There are a lot of lessons in life that can be learned. And most of them either come from experience or role models. For college or university students who want to follow SpaceX and Tesla founder Elon Musk and his footsteps, they can find inspiration and guidance from his three secrets to success.

Elon Musk is not only the world's most technology focused authority, he is also a successful business man. And when it comes to entrepreneurship, he had his fair share of lessons and learnings from his roles as Tesla Motors CEO, PauPal co-founder and SpaceX co-founder. But here are some things he did when it comes to the conception and execution of Hyperloop.

1. Create a powerful vision

According to Elon Musk via Know Start Up, effective leaders have a powerful vision. Take his response to solving the world's traffic problem. His challenge to create a rail way system known as Hyperloop is a huge and powerful vision. And a lot of people believe in it because of he was able to influence them to see this view.

2. Execution is the key, no matter how good the idea is

In order for Hyperloop to happen, his idea has to move. Leaders must not only be able to innovate, they must also execute. Which is why Elon Musk knew that he had a limitation. To get over that challenge, he challenges capable minds around the world to innovate. By telling everyone that his vision is clear, he executes it by gathering everyone from all over.

3. Recognize that world-changing innovation can come from anywhere

In everything he does, he always recognizes that everyone has an idea. His Hyperloop idea was a way for everybody to get involved at solving a real life world problem. His idea was "open source" and works on the truth that leaders find a way to involve others to solve problems. He steps out of the way and gives the platform for other teams to lead. This is why Hyperloop is successful because student teams from everywhere joined in to execute.

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