Musk chose de facto mentors from a practically endless library of great leaders, like Benjamin Franklin, Steve Jobs, Albert Einstein, Isaac Newton, and of course, Nikolas Tesla. They push people out, spiral out of control, or end up underperforming dramatically. Throughout his childhood, Musk was repeatedly bullied by many of his classmates, once even to the point where he had to be rushed to the hospital. Recognizes business imperative of anticipating and embracing changes occurring in the competitive environment through continuous improvement in all aspects of the business. This focus has allowed Musk to perfect the art of getting into a "flow state," "the mental state in which a person performing some activity is fully immersed in a feeling of energized focus, full involvement, and enjoyment in the process of the activity." His speeches are marked with . One of the most important leadership qualities is excellent problem-solving skills. Make sure you understand the fundamental principles of what youre trying to do before you get into the details, otherwise you could be building on faulty ground.. NOW WATCH: Elon Musk says Tesla owners could make up to $30,000 a year turning their cars into 'robotaxis'. With Musk, he seeks to add quality to society while at the same time presenting a superior tomorrow to humanity. I'll talk about them here. Now She Partners With Target and Uses Her Platform to Combat Medical Racism in the U.S. You Need to Ask Yourself This One Key Question, Mark Cuban's Grocery Store Hack Will Help You Score Cheaper Produce, 5 Types of Toxic Employees and How to Deal With Them (Infographic), Walmart Leaked Memo Warns Against Employees Sharing Corporate Information With ChatGPT, 5 Harvey Specter Quotes to Inspire Your Inner Baller. From an early age, Elon Musk learned not to be afraid of hard work. Ever since then, I have kept abreast with great interest the news surrounding this man the media often dubs the real-life Tony Stark. 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 work ethic, they don't quite reach Musk's level. So find a smallidea. For some time now, I've been assessing Musk and have outlined five different reasons that explain why he's found such success. Today, Musks 100-hour-work weeks lie at the core of his success. . It's not hard to think of well-known, visionary leaders of the past few decades. Musk, 46, has a worth of more than $20 billion and has said he is using his personal asset to build his new visions. Musk is a natural leader who cares about his employees. This merged with Confinity to become Paypal. He sees problems as opportunities and that is what has led him to his success. 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. As of October 2016, his estimated net worth is US$11.5 billion. The delegation of duties and the . In addition to self reflection, gather feedback from your colleagues and team, and use any constructive comments to improve processes, relationships and performance in the office. Twitter is struggling financially. Further, Musk has been selling billions in Tesla stock and its share price is down by over 60% this year. Elon Musk is a honest person/executive, the world we live has a great lack of honesty. Elon Musk's leadership style is transformational since it focuses on innovation and achieving large scale goals. Internalized moral perspective is describes an internal understanding of ones morals and living by those in everyday leadership practice (Northouse, 2019). He has had many failures in the course of his career, ranging from mechanical failures in his Tesla brand to rockets crashing. And Musk fits that bill perfectly. 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. The current study is narrowly focusing on the leadership traits of Elon Musk in Tesla motors. Lifelong learning is a key component of Musks leadership style. Expertise from Forbes Councils members, operated under license. Musk is highly charismatic with a positive outlook and optimism for a better future. His passion for his work is so intense that it fuels late-night shifts, motivates 80-hour work weeks, and, as we talked about in the last section, sleeping under his desk. Is New Business Creation Still Setting Records? His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. Weve recently launched theBluePointe Capital TechnologyEntrepreneur of the Year Awardto honor the brilliant creators who are changing society for the better. 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. Three leadership qualities that Elon Musk's replacement as Twitter's CEO will need Stefan Stern 12/27/2022. Because sometimes, more than winning, leaders should inspire. Because managers generally interact with a large number of employees, they have a tremendous opportunity to influence office culture. We can also absentmindedly rattle off a stream of adjectives that describe him and his leadership qualities: innovator, leader, genius, visionary, futurist, entrepreneur. He wasn't distracted by other, tedious tasks. All he focused on was the task at hand. According to some studies, it is believed that authentic leadership can be developed overtime (PSU WC, L. 12, 2021). This personality trait of Elon Musk resembles with Jeff Bezos traits, the founder of Amazon. References Elon Musk. While there are lots of impressive leaders, few touch his superhero scale. 3. 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. A strong leader needs to be resolute and persuasive, an innovative leader needs to be open to changing her mind. Question and challenge the status quo. Required fields are marked *, Notify me of followup comments via e-mail. In 1989, Musk moved to Canada and began undergraduate studies at Queens University in Ontario. Builds and rebuilds the teams commitment to the common goals. But he wouldn't take no for an answer. I first became aware of Elon Musk from a tiny blurb in the newspaper. Read our privacy policy for more information. Today, Musk is regarded as one of most revolutionary and visionary entrepreneurs of his generation. If we can overcome the initial fear of being told "no" and understand that no truly means nothing, we'll be better for it. It could have global impact. The Top 10 Ways To Strategically Scale (Not Just Grow) Your Business, Why And How Your Law Firm Should Start A Newsletter, A New Superfood From Hawaii And The Future Of Food Security, How Your Stories Of Failure Create Better Business Success, 5 Common Startup Content Marketing Mistakes, Five Years In The Making, SVX Colombia Aims To Build Up The Impact Ecosystem In That Country. By any measure, Elon Musk is exceptionally successful. Realizing that learning never stops, staying curious and seeking different venues to satiate that thirst for information means that no one in Musks circle is resting on existing knowledge. The initial question is always small, then the answers grow progressively bigger. 10. Otherwise, its not.16 For Musk, the only viable option was to hold on firmly to hope. You must really like us. Be an Authentic Leader: Ma possesses a strong sense of character which helps him build loyalty and strong foundation on which his business Alibaba grows. That 100% meant enough to him that he put himself in a possibly awkward situation, speaking with his professor, and having the hard conversation that many people shy away from. . 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. You have two choices in life - to see the world as a pessimist, or . Even though he had complete control of his company, he gave his employees the motivation to accomplish their targets and tasks through his characteristics. He may rethink stepping down, or even appoint someone only to sack them. Why is Elon Musk so scared of Artificial Intelligence? Musk chose de facto mentors from a practically endless library of great leaders, like Benjamin Franklin, Steve Jobs, Albert Einstein, Isaac Newton, and of course, Nikolas Tesla. Elon Musk has always been remembered as a transformational autocratic leader. Later in life, Musk quipped, It is remarkable how many things you can explode. 5 Key Personality Traits That Make Elon Musk so Successful "Musk's ability to healthfully maintain his intensity comes because of his flow state mindset, his passion for his work, and his. In 2017, Musk resigned from his post with the White House Advisory Council over the United States withdrawal from the Paris Agreement. Has learned from disappointing experiences. Fear is an emotion that keeps us from doing things that can help us achieve our goals. But any replacement will need to be able to steer Twitter back to calmer waters, with Musk remaining majority owner. His financial decisions even resulted in him borrowing money to pay rent for a period of time.He has justified his unusual entrepreneurial moves saying, If I ask investors to put money in, then I feel morally I should put money in as well. Or as he has more colourfully puts it. His next venture was X.com, an online banking service he started in 1999. But is it really a commercial proposition? Copyright 20102023, The Conversation US, Inc. 57.5% of more than 17.5 million Twitter users. 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. This is 90 percent of the solution, as hiring wrong can cost you so much." Elon Musk noted hiring the right people as his most important advice for up-and-coming leaders. It also motivates him to start new companies, even if they initially need to work out. Many people would consider Musk to be the most innovative entrepreneur of our time. Musk also co-founded Tesla Motors, which aims to build low-cost electric vehicles and revolutionize the automobile industry. SpaceXs experimental rockets frequently make the news for launch failures. Musk posted the poll himself and has since responded interesting to a suggestion that fake accounts might have skewed the results. He wasn't distracted by other, tedious tasks. Gavin, M. (2019b, December 10). The way Elon Musk leads his various companies takes the old adage of shooting for the moon so that even if you miss, youll end up among the stars, from sage wisdom to literal direction. Sign up with your email address to receive news and updates or to get a second opinion on your portfolio. How many opportunities are lost because of our fear of asking? Great post! (2021). You can save thousands of dollars, for a limited time. After a closer look, researcher Michael Porter discovered a shockingly dismal success rate when companies acquire other firms outside of their original scope.14. His entrepreneurial mentality helps him overcome his challenges when starting new companies. Musk supervises the creation, engineering and layout of the products of the company. How often are you distracted? Later, he said, advice I would give is to not blindly follow trends. 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. 8th Edition. Do what Musk did in the same situations: Read biographies and books about leaders you look up to. After 2 years, he transferred to the University of Pennsylvania. What Might That Mean For The Economy? Nominate him or her for our award by visiting here. 1. 2023 Leaderonomics Sdn. Authentic leadership has three components to its definition that I believe Elon Musk meets criteria for. Just like other visionaries before him such as Steve Jobs, Mark Zuckerberg and Larry Page, Musk is changing the world through following his passion, pursuing his big dreams, having laser-like focus on advancing technology to help humanity. His vision is so strong and compelling that he inspires other like-minded capable individuals to join his companies and work towards those goals. Visiting Professor of Management Practice, Bayes Business School, City, University of London. This is arguably the first of two critical life events. Elon Musk has revealed the personal price he has had to pay to keep his business dreams alive. Using his own money from the sale of Paypal, Musk started SpaceX, a company dedicated to lowering the costs of space travel. This article is published by the editors of Leaderonomics.com with the consent of the guest author. Vision: There is no doubt that Musk has a vision. All rights reserved. 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. Musk is a perfect case study for someone whose work ethic is fueled by his passion. They have a strong sense of themselves and what they stand for (Northouse, 2019). 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. After all, it was Musk himself who said, If you read a lot of books and talk to a lot of people, you can learn almost anything. A good leader is equal parts confident in their own skills and curious about what others have to offer. From time to time, take the time to reflect on your own performance as a leader. And it can be a force for good for example providing data and advice during the COVID-19 pandemic or helping to highlight the failings of politicians or the media even with the unpleasantness and abuse that seem to be an unavoidable part of tweeting. Eventually he went on to study at Stanford and began to pursue his technology legacy (Cole, 2021). How can you schedule your day so you can complete one task, then move to the next, effectively, excitedly, and purposefully? Give the obvious answers, then put your spin on those answers and pursue them with tenacity. The Musk way. 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? Musk is obviously intense. We can rattle off Elon Musk's accomplishments in our sleep: cofounder of monetary giant PayPal; founder of Tesla, the electric car company that is literally changing the world; and founder of SpaceX, the company that is trying to take us out of this world and colonize another. 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. 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. You see, the 2% that separated Musk from his current score and perfection sounded to him like a giant "no." Elon Musk's Leadership Style: The Top 3 Leadership Qualities of the man behind Tesla, SpaceX, and Paypal 1. Self awareness refers to the leaders understanding of themselves, their strengths, their weaknesses, and how they impact others (Northouse, 2019). Because "no" meant nothing. Elon Musk is widely admired for visible entrepreneurship. 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