Related: When It Comes to Investing, Do You Think Like Warren Buffett or Elon Musk? I feel the exact same way. Its long, but well worth the read! This brings us to a very valuable leadership lesson that the maverick Musk has taught everyone in recent months: we should hesitate before labelling forceful people as great leaders in any setting until we have seen what their long-term impact has been. Do you stand firm in defence of your vision? It also motivates him to start new companies, even if they initially need to work out. Elon Musk has married thrice and twice to the same woman. In fact, each of the four traits or fundamental principles we've described above is only cultivated by those who have a certain amount of intensity. Because managers generally interact with a large number of employees, they have a tremendous opportunity to influence office culture. However you feel about Elon Musk, some things are irrefutable: Hes extremely successful, is endlessly innovative and acts as a case study for creative leadership. Many do not have access to the resources needed to bring out their full leadership potential. His secret is that he taps into people's yearning for inspiration. Elon Musk has revealed the personal price he has had to pay to keep his business dreams alive. He loves what he's doing because he does what he loves. The Musk way. How can you and your organization make a positive difference in the world? This mindset helps him stay motivated and excited about what is next. China's birth rate declines for first time in decades. He's quite possibly a genius. Big ideas always come from small thinking. What can you do to set the standard in your industry? Sometimes, as a leader, you need to step back and say no when things no longer serve your personal and organizational goals. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';fnames[1]='FNAME';ftypes[1]='text';fnames[2]='LNAME';ftypes[2]='text';}(jQuery));var $mcj = jQuery.noConflict(true); Your email address will not be published. The reason that we feel Elon Musk is an outstanding example of the entrepreneurial spirit is his ability to overcoming disappointment. Musk once said, "I'd rather be optimistic and wrong, than pessimistic and right.". I understand that the data I am submitting will be used to provide me with the above-described products and/or services and communications in connection therewith. Although former employees sometimes describe him as autocratic and blunt to the point of offensive, they remain remarkably loyal.10 While employees may either revere or loathe the man for his methods, bright minds are consistently attracted to Musks leadership and populate his companies today. Top editors give you the stories you want delivered right to your inbox each weekday. It certainly wouldn't be that way without Mr. Musk's unblinking focus at the forefront. Cole, R. (2021, June 24). He attended private schools and had a tough time as he was severely bullied by his peers. In the modern capitalistic world where the top executives stay away from places like factories. It has certainly sped up the flow of information (admittedly, inaccurate information as well as the useful kind). His tremendous work ethic imbues him with credibility among his employees, who become inspired to put in longer hours because of their boss devotion to work. After 2 years, he transferred to the University of Pennsylvania. This focus has allowed Musk to perfect the art of getting into a "flow state," which is when "a person becomes fully immersed in an activity," per Very Well Mind. And while it's important to prioritize work-life balance, the wealthiest people don't get wealthy by . Come make new friends with ot, Check out "3 Ways to Support Worker Mental Health". By age 14, he was designing rockets with paper and pencil. To Start and Grow Your Entertainment Business With These Five Tips, Carbon Credit Could Be the Answer to Eliminating Pollution, Cannabis Stocks on Fire as House Prepares Vote on Federal Legalization, Attorney Jeremy Goldstein & Employment Law UPDATED. His predictability allows him to make these risky decisions, knowing that, in the end, it will be worth it. Pennsylvania State University World Campus. With wealth at his disposal, he reached back into his vision for his life and work; this led him to the aerospace industry and his desire to make humans an multi-planetary species. Unfortunately, he died of sudden infant death syndrome. Indeed, Musks reaction to finally getting his hands on Twitter has been reminiscent of Christmas morning, when children rip open presents, display initial excitement and then quickly lose interest. An electric railroad. And Elon Musk had purchased this fantastical prop with the serious intention of actually making it work as depicted in the film.I was thrilled. His solar company is cash-flow positive. The values that our award is based upon are as follows: Entrepreneurial Spirit Passion for Innovation Positive Energy Strategic Direction Personal Integrity/Influence Entrepreneurial Spirit We define entrepreneurial spirit as the following: Musk is a perfect case study for someone whose work ethic is fueled by his passion. An authentic leadership aims to make authenticity paramount. You Can Lead Like Jobs and Musk If You Can Apply These 4 Skills. Interesting business experiences from the past. Score: 10 out of 10 (highest in the batch) Md. May 31, 2021. Musk, as a leader, has the capability to create balance between who he is, the vision he has created for the world, and acknowledging the importance of the strength of his team (Cole, 2021). Learn More Every Day with This 2023 CES-Honored Knowledge App. His passion for innovation keeps him motivated and excited about what he does, leading to better business decisions. Introduction. In fact, there was a time during Tesla's infancy where a specific problem needed solving, so Musk would sleep under his desk and work 75-hour weeks until that problem was solved. So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. From his 2014 USC Commencement to his 2017 Tesla Product Reveal, it seems like Musk stutters through every presentation. He is a force of knowledge that is easily recognizable not only from his long history of business endeavors, but also by his connection to his followers. 16 Larry Kim, 50 Innovation and Success Quotes from SpaceX Founder Elon Musk. Inc.com. Cant think of someone who would be a great mentor? He also agreed that only paid subscribers should be able to vote on future Twitter policy changes. Elon Musk is a terrible public speaker. With transformational leadership styles on the rise, Elon Musk has also entered the list of the 21st century's most influential CEOs along with Steve Jobs, Reed Hastings, and Jeff Bezos. When considering his moral reasoning, it is important to look at the type of products he designs and creates. He then moved across the United States to California to pursue a PhD at Stanford; but after two days, he left the program to pursue becomingan entrepreneur. Heres part 1. After Ashley Vances book, this is the best piece of writing out there on the man behind Space X and Tesla. A Quick Whiff Of Elon's Musk The 45-year-old is best known for being the founder of X.Com which later became PayPal, one of the largest Internet payment companies. Think of your own work life and the way you go about your day-to-day tasks. But he wouldn't take no for an answer. Featured image used under Creative Commons license, credit to Daniel Oberhaus (2018), Transactional vs Transformational Leadership. We are Marriott Student Review Swipe r, Come checkout our new issue for 2022 called Authen, Lets get groovy! His next venture was X.com, an online banking service he started in 1999. I've spent much of my professional life working with incredibly high performers, and although they all impress me to no end with their talents, habits, and hard work ethic, they don't quite reach Musk's level. And can we not only quantify those things that make Musk such a successful person but also begin to embody them in our own lives? Whats remarkable about Musk is that he never lets it stop him from fighting through and progressing. Because "no" meant nothing. In 1992, Musk received a scholarship to the University of Pennsylvania, which was his golden ticket into the United States (Cole, 2021). He also uses the feedback loop as part of his self-reflection and self-improvement he seeks to always do better than he did before as he knows that every improvement will lead him closer to achieving his goals. With all said and done, most chief executive officers are only after bolstering bottom lines and keeping investors happy. The Digital Global Supply Chain: The Growing Case for Blockchain Technology Expansion Within Global Supply Chain, Our new episode with BYU Professor and Marriott St, Tips on getting your great ideas published!! Today, Musks 100-hour-work weeks lie at the core of his success. [3] It could be a good exercise to think of ways you can distill these traits as usable leadership skills. You dont found the first private company to successfully launch spacecraft to the International Space Station without learning a thing or two along the way. One course of action many successful companies have implemented to create a learning culture is to give financial assistance to its employees to further their education.4 Educational benefits are becoming increasingly important as more millennials enter the workplace. Even though he had complete control of his company, he gave his employees the motivation to accomplish their targets and tasks through his characteristics. Work Ethic => Your Goals It's safe to say that most people want to be successful, but among this group there are some who want it more. We can rattle off Elon Musk's accomplishments in our sleep: co-founder of monetary giant PayPal; founder of Tesla Motors, the electric car company that is changing the world; and founder of Space X, which is focused on space exploration and space travel, and has even sent NASA to the International Space Station on his spacecraft. will no doubt profoundly impact our world. Elon Musk is a honest person/executive, the world we live has a great lack of honesty. Why is Elon Musk so scared of Artificial Intelligence? He praised Elon Musk's ambition, revealed the traits and attitudes he looks for in people, and cautioned against becoming a VC just to get rich. Fear is an emotion that keeps us from doing things that can help us achieve our goals. There's an anecdote Musk's first wife tells of him back in college. Balanced processing refers to the ability of a leader to be objective and find balance by incorporating a combination of self values, in addition to considering the opinions and values of others within the organization (Northouse, 2019). Musk is a natural leader who cares about his employees. Musk supervises the creation, engineering and layout of the products of the company. Musk is not afraid of failure and sees it as an organic part of any creation process. accessed November 11, 2017. https://www.inc.com/larry-kim/50-innovation-amp;-successquotes-from-spacex-founder-elon-musk.html. Now look at Tesla: it's a booming giant that's changing the automotive world. Whether it was Paypal where he championed the idea of an online banking institution, or SpaceX which has become the first private company to successfully launch a rocket and dock at the International Space Station, or SolarCity which promotes the use of solar energy as a sustainable energy source, Musk is disrupting large industries by setting a new standard. One talented employee remarked that when deciding between working for Musk or for another more established company where he would be paid more, I wanted to throw caution and logic to the wind [and] work for the creative genius.12, Beyond creating a sense of focus and direction among employees, mission statements keep a company focused on its core competencies. His electric supercars seat seven. As part of this initiative, were taking a closer look at the people and leaders who we feel embody the values that our award is based upon. Has learned from disappointing experiences. Empowering Trust Humility Visionary Delegation Innovative Positive Inquisitive Problem Solving Initiative for action Nuturing & Empathetic Active listening Patience Gratitude Strategic & Focussed Decision making Resilience Comittment Good communication Influence Transparency Respect Autodesk is a leader in providing design and . So find a smallidea. Opinions expressed are those of the author. In an ideal world, he could do all of the work himself. So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. . Otherwise, its not.16 For Musk, the only viable option was to hold on firmly to hope. He understands the many challenges that lie ahead, but his commitment to making a difference in the world makes him determined to keep moving forward. Musk is obviously intense. Confidence and independence. Yet, while his unique personality and boundless creativity have led to incredible success for his. (2021). The current study is narrowly focusing on the leadership traits of Elon Musk in Tesla motors. This kind of thinking makes many companies mediocre. What more noble cause is there? Elon Musk possesses the ability to think at the system level of design. There has been some speculation that Musk has come under pressure from other Twitter shareholders and lenders to move on. After making his mark in the dotcom industry with Zip2 and Paypal, Musk went on to his loftier dreams of space exploration and sustainable energy with his current business ventures. He has used his skills to aid in the design of electric cars and even spaceships. Employees, colleagues, customers, and investors should feel energized being around a leader. When a leader exhibits these qualities, it creates a sense of trust and authenticity in followers. An office culture based on continued learning, leadership by example, clear mission objectives, and positivity is the greenhouse that empowers employees to grow into effective managers. Errol shot and killed . The 49-year-old Elon Musk is someone who has countless achievements under his belt. His intrapersonal qualities are a major component of what makes Elon Musk a more outstanding type of leader, as he has the education and drive an authentic leader needs. Elon Musk. April 21, 2017. accessed November 23, 2017. https://hbr.org/2016/10/like-it-or-notyou-are-always-leading-by-example?referral=03758&cm_vc=rr_item_page.top_right. Stefan Stern does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment. But is it really a commercial proposition? A railroad. 5 Leadership Qualities of Elon Musk that We Admire, Interview with Ram Menon, Founder and CEO of Avaamo, BluePointe Capital Technology Entrepreneur of the Year Award, BluePointe Capital Management, LLC, 1300 El Camino Real, Suite 100, Menlo Park, CA, 94025. The company was sold to eBay in 2002 and netted Musk US$180 million in the process. While there are lots of impressive leaders, few touch his superhero scale. Vision: There is no doubt that Musk has a vision. Using his own money from the sale of Paypal, Musk started SpaceX, a company dedicated to lowering the costs of space travel. Elon Musk has clashed often with securities regulators and highway safety authorities, but there's one area the Tesla and Twitter chief says the government should regulate now: artificial intelligence. As a transformational leader, Elon Musk, of Tesla Motors, demonstrates " incredible vision, dedication, and perseverance " as he strives to actualize his vision. According to some studies, it is believed that authentic leadership can be developed overtime (PSU WC, L. 12, 2021). For better or worse, here are five things weve learned about leadership from Elon Musk. This leadership style's strengths are innovative thinking, analysis, problem-solving, planning, and strategy execution. Skip to document. Has potential to influence by contributing something to the world that improves it in a new and different way and creates a social impact. When PayPal was sold to eBay, Musk began to focus on what hes best known for today: SpaceX, Tesla Motors and SolarCity.For those of you who are unaware, SpaceX is a company that aims to commercialise space travel. Management at many different companies underestimate the importance of developing a mission statement. But this small, simple detail is a defining one. Disclaimer: The opinions expressed on this website are those of the writers or the people they quoted and not necessarily those of Leaderonomics. Confidence and independence A new Twitter CEO will want. Perhaps the imaginative leap the new CEO has to make will be to turn Twitter into a viable not-for-profit organisation, one that has enormous utility and value, if not the ability to easily make money for its owners and for advertisers. Chatham: Newstex, 2015. https://search-proquest-com.erl.lib.byu.edu/docview/1652311317?accountid=4488. In consideration of the leadership skills of Jobs and Musk, I see four overlapping things. I think its very important to have a feedback loop, where youre constantly thinking about what youve done and how you could be doing it better. And this leads us to a major task for any future Twitter CEO and perhaps the heart of the problem with Twitter. In a capitalist society, it is easy to become disillusioned with leaders and leadership. Companies that pay the price to cultivate a strong office culture will increasingly set themselves apart and experience substantial organic growth as employees step up to become effective managers and branch out the organization. That 100% meant enough to him that he put himself in a possibly awkward situation, speaking with his professor, and had the hard conversation that many people shy away from. Now many of you will read this and think: Why? When you lead like Musk, youre always pushing for something greater: We believe everyone could stand to be a little fearless and a little more curious when leading their teams to greatness. Give the obvious answers, then put your spin on those answers and pursue them with tenacity. So, if Twitter wants to find a new CEO, what sort of person should the troubled social media platform be looking for? Elon Musk was born on June 28th, 1971 in South Africa, where he grew up with his father after his parents divorced in 1980. What's the point of doing that? But can we. . Throughout his career, he has made decisions and moves that align with this vision and help take him closer to achieving them. What Might That Mean For The Economy? 2017 BluePointe Capital Management, LLC. The developmental authenticity of Elon Musks leadership was created throughout his childhood. Who Will Win? By Andrew Fayad, CEO of ELM Learning, a creative agency focused on designing custom multimedia and digital learning experiences. His vision is so strong and compelling that he inspires other like-minded capable individuals to join his companies and work towards those goals. Biography.com. Bill Gates. I would have been happy with a 98%. Hope is not a part of his aggressive optimism. Musk generally influences people in his organization as well as outside world by using great communication skills. He faced failure and strife, but he maintained his optimism and was able to continue on through his resilience (Northouse, 2019; Cole, 2021). 13 Ireland, and Hitt, Mission Statements., 14 Ireland, and Hitt, Mission Statements.. Elon Musk is one of the most innovative and driven entrepreneurs of our time. Required fields are marked *, Notify me of followup comments via e-mail. The initial question is always small, then the answers grow progressively bigger. Musk would do well to start surfing, running, and/or meditating anything that helps him recharge and be present (and not rely on Ambien to get a good night's sleep). He then takes each answer to the question and attempts to flesh it out in the best possible way. I would have been happy with a 98%. as well as other partner offers and accept our. Ever since then, I have kept abreast with great interest the news surrounding this man the media often dubs the real-life Tony Stark. Musk may have imagined that owning the website would be fun and make him feel powerful. Musk was attracted by the possibilities brought about by the rise of the Internet and saw how it could potentially change the world. He sees problems as opportunities and that is what has led him to his success. NTB/Carina Johansen via Reuters. Musk is undoubtedly a visionary. Musk changes his mind frequently sometimes within hours, as we saw recently when he appeared to walk back a policy change regarding users ability to link to other social media accounts. 4. I think thats the single best piece of advice: constantly think about how you could be doing things better and questioning yourself.. Another factor that helps Musk get into and remain in the flow state has to do with the quality of work he's doing. Musk posted the poll himself and has since responded interesting to a suggestion that fake accounts might have skewed the results. After the sale of PayPal, he had enough money to live more than comfortably several lifetimes over.And yet, he invested nearly all those funds into SpaceX, Tesla Motors and SolarCity. We'll be in your inbox every morning Monday-Saturday with all the days top business news, inspiring stories, best advice and exclusive reporting from Entrepreneur. In their book Connected, Nicholas Christakis and James Fowler conclude from years of research that our actions, attitudes, and behaviors not only influence those we act with directly, but also extend to people within three degrees. 12 Wall St. If we can overcome the initial fear of being told "no" and understand that no truly means nothing, we'll be better for it. We live in a highly distracting world. More specifically, this particular study will try to observe Elon Musk's leadership practices in Tesla motors . Musk once said, If something is important enough, even if the odds are against you, you should still do it. The truth is, if we are passionate or find passion in the work we're doing, work stops feeling like work. If we can overcome the initial fear of being told "no" and understand that no truly means nothing, we'll be better for it. In a strong response to a recent Twitter poll posted by Elon Musk, users of the platform have called for him to relinquish his position as CEO. Naturally, a good leader needs to foster that courage by encouraging innovation over instant results. Elon Musk inspires his employees because, although he has high expectations for them, he demands even more from himself. From a turbulent childhood in South Africa, to the forefront of global entrepreneurship and innovation, Elon Musk is attempting to lead the world to a better tomorrow. His entrepreneurial mentality helps him overcome his challenges when starting new companies. This makes him the 2nd richest person in the World, just behind Jeff Bezos. Hes on a mission to save humanity. I believe Musk's ability to healthfully maintain his intensity comes because of his flow state mindset, his passion for his work, and his absolute focus. Musk paid US$44 billion to buy it, perhaps twice what it was worth. He is a bridge between the market requirements and what the engineers on the ground aspire to do Elon Musk leads by "doing" more than "telling" Musk understands that teamwork is a necessity for any team or business to succeed. But he could now face interest payments to lenders of up to US$1 billion a year unless Twitters financial health can be turned around. Lets continue to gr, Professor Tyler Shumway joined us on our new episo, Come get to know the MSR Team and learn about what, Want to avoid becoming part of the 1.1 TRILLION do, Hello! His first marriage was to Canadian author Justine Wilson in 2000. An authentic leader creates better relationships with colleagues, creates higher levels of trust, increased productivity, and a more positive working environment (Gavin, 2019). His father is South African-born and his mother is Canadian-born, from Regina, Saskatchewan, and also has American antecedents. The new leader will have to confront the brutal facts of the situation according to management expert Jim Collins, this is how to begin productive change. In this case, a core task for the new CEO will be to recognise what sort of business Twitter is, and decide whether it is really a conventional for-profit business at all. And Musk fits that bill perfectly. Encyclopdia Britannica. But any replacement will need to be able to steer Twitter back to calmer waters, with Musk remaining majority owner. SpaceXs experimental rockets frequently make the news for launch failures. Recognizes business imperative of anticipating and embracing changes occurring in the competitive environment through continuous improvement in all aspects of the business. This article is published by the editors of Leaderonomics.com with the consent of the guest author. Musk, 50, has an uncanny ability to get consumers, investors, and employees behind his mission, three leadership sources said. He received a 98% on one of his tests. By S, As Millennials financial position has deteri, Up to 20% of hires leave within their first 45, Join Spencer and Grant as they talk to BYU student, In this past weekends Saturday Read, Hayden Low, This week on our issue highlight article, Melissa, Quantum Computing: Expanding Future Possibility, Study Abroad: The Key to Being a Top Hire, Dont Put All Your Eggs in One Basket: Diversify Your Supply Chain for Future Stabilit, Now Is The Time: How Business Leaders Can Better Address Mental Health, Have Nothing to Hide? How Elon Musk and Tim Cook Will be Remembered in Business History. 1. An electric railroad that goes through an enormous tunnel, dug into the side of a mountain. (2021, April 7). These five traits together create what is presumably a great leader (Gavin, 2019). Access your favorite topics in a personalized feed while you're on the go. He understands how to motivate people and create a collaborative working environment. His leadership style is transformational and transactional, aimed at attaining results. Tesla CEO Elon Musk, who's originally from South Africa, has perfected the art of remaining focused. Musk was born in Pretoria, South Africa, where he lived until he moved to Canada at age 17. He understands the many challenges but is not afraid to take them on. To understand his strategic direction to build huge companies . 3 (May/June 1992). Later in life, Musk quipped, It is remarkable how many things you can explode. The fast-talking 'Suits' attorney has a lot to say about what it takes to succeed in business and life. Elon Musk's leadership style is awe-inspiring - most of the time. The delegation of duties and the . Why that would be exactly what I, and millions of other young men, would do if we had the moolah to throw around. I've known too many people who attempt to bring a certain amount of intensity to their work and burnout, break down, or go too far. I feel the same way. There, he earned two degrees a Bachelor of Science in physics from the UPenn College of Arts and Sciences, and a Bachelor of Science in economics from the Wharton School of Business. His integrity helps him make bold decisions that others may be unable to make. Tesla balance. Builds and rebuilds the teams commitment to the common goals. Mission statements provide a sense of focus and direction among employees. Leadership Qualities of Elon Musk and Learnings Oct. 20, 2018 6 likes 7,153 views Download Now Download to read offline Leadership & Management Business Leadership presentation prepared by Md. I'll talk about them here. You must really like us. Be obsessed and obsessive. 1 Introductory Paragraph 1.1 In this essay I will discuss a well-known contemporary person that is in a position of leadership which will be Elon musk who is a businessman and investor. Through his unique life circumstances, Musk has developed the important leadership qualities of being (1) a proactive learner, (2) a hard worker, (3) a bold visionary, and (4) an unwavering optimist, which still influence his success today. He is not just focused on creating a product, he is in the business of creating products that are sustainable while still offering quality to consumers. Are marked *, Notify me of followup comments via e-mail ever since then, I have kept abreast great! Like work help us achieve our goals richest person in the batch ).! See four overlapping things in life, Musk started SpaceX, a exercise... ( PSU WC, L. 12, 2021 ) their full leadership potential that..., who 's originally from South Africa, has perfected the art of remaining focused office... Say no when things no longer serve your personal and organizational goals chief executive are... & cm_vc=rr_item_page.top_right developed overtime ( PSU WC, L. 12, 2021 ) serious... Their full leadership potential want delivered right to your inbox each weekday 3 Ways to Support Mental... Behind Jeff Bezos great communication skills any future Twitter CEO and perhaps the of... Sees it as an organic part of any creation process honest person/executive, the that. Improvement in all aspects of the guest author worse, here are five things weve about. The costs of Space travel has led him to make leads us to a major task for any future CEO... 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Creation, engineering and layout of the problem with Twitter capitalist society, it is remarkable how many things can. What has led him to start new companies, even if they initially need to work out for called. Only viable option was to hold on firmly to hope Musk & # x27 ; s possibly... From SpaceX Founder Elon Musk even if they initially need to be confident perhaps! Try to observe Elon Musk predictability allows him to start new companies even. Has certainly sped up the flow of information ( admittedly, inaccurate information as well other. His secret is that he inspires other like-minded capable individuals to join companies! Musk supervises the creation, engineering and layout of the Internet and saw how it could potentially change the we!