On Thursday, March 31, my wife drove two hours each way and waited in a two-hour line for us to put down a reservation on the design-yet-to-be-released Tesla Model 3. It was a phenomenon experienced nationwide and by the time of the model unveiling at 11:30 p.m. EST, Tesla had more than 100,000 reservations. Within a couple more weeks the number had reached more than 400,000. How did Tesla do it?
For one, the company has a strong, if not somewhat eccentric, leader in Elon Musk. Musk was one of the founders of PayPal and in addition to running Tesla, he is also founder and CEO of SpaceX and is purportedly the real-life Iron Man. While not without his personal flaws (he is human after all), several lessons can be learned from the fan base that Musk has built.
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The 2023 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.