How can you and your organization make a positive difference in the world? With all said and done, most chief executive officers are only after bolstering bottom lines and keeping investors happy. Here's how to do the latter, like a boss. Demonstrates perseverance in the face of adversity and to overcoming obstacles. Shareholders in the car firm would probably like their hitherto successful CEO back full time. 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. It turns into a mission or game, and we find ourselves enjoying what we're doing. Elon Musk may be Time's person of the year, but fintech executives should not follow his cavalier communication style. Read our privacy policy for more information. Elon was not born into success, not was he born in the spotlight he has acquired for himself today, but instead he spent years expanding and building his interpersonal, intrapersonal, and developmental capabilities so that he could be in the position of leadership and futuristic drive. "What do you do when youre on your lunch break? "AI stresses me out," Musk said near the end of a more than three-hour presentation to Tesla investors about company plans. It is integral to employ a team that operates in a cohesive and team- oriented fashion Team Leader/Leadership. I feel the same way. The Ugly: At SpaceX Elon quickly gained a reputation as a staunch leader. But he wouldn't take no for an answer. Not only do these three specific qualities identify the definition of an authentic leader, but they help define Elon Musk and his rise to leader status and fame. You see, the 2% that separated Muskfrom his current score and perfection sounded to him like a giant "no." It's not hard to think of well-known, visionary leaders of the past few decades. 3. 2023 Leaderonomics Sdn. Musk summarizes his emotional response to being bullied as a child, If you get up in the morning and think the future is going to be better, it is a bright day. An electric railroad. We can also absentmindedly rattle off a stream of adjectives that describe him and his leadership qualities: innovator, leader, genius, visionary, futurist, entrepreneur. He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. He displays all of the four key positive psychological attributes discussed in the Northouse (2019) text. Tesla balance. I dont believe that to be the case with Musk. Throughout his career, he has made decisions and moves that align with this vision and help take him closer to achieving them. 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. He was also a man with a wonderful vision. An electric railroad that goes through an enormous tunnel, dug into the side of a mountain. We'd, Thanks for all the support! Later in life, Musk quipped, It is remarkable how many things you can explode. 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. Steve Jobs. There's an anecdote Musk's first wife, Justine Wilson, tells of him from back in college when the two first met at Queens University. Since youre here, wed like to ask you to consider donating to the maintenance and upkeep of our site, which as it turns out is pretty expensive. "Being immersed can be defined as a state of focus in which a person is completely absorbed and engrossed in their work." Many leaders share the mindset to "just get it done" or accept it's good enough even when it's not. His electric supercars seat seven. Big ideas always come from small thinking. They push people out, spiral out of control, or end up underperforming dramatically. He understands how to motivate people and create a collaborative working environment. 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. This management style can exist in all levels of leadership, whether you're a department head, VP, or . Cant think of someone who would be a great mentor? Elon Musk. In 2018, Musk tweeted, Creating a rocket company has to be one of the dumbest and hardest ways to make money. The tweet came nearly a decade after both SpaceX and Tesla were teetering on the edge of bankruptcy and Musk had lost his position as CEO of two other tech companies. How can you schedule your day so you can complete one task, then move to the next, effectively, excitedly, and purposefully? His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. Eventually he went on to study at Stanford and began to pursue his technology legacy (Cole, 2021). Related: 61 Books Elon Musk Thinks You Should Read. Because "no" meant nothing. You must really like us. 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. When PayPal was sold to eBay, Musk began to focus on what he's best known for today: SpaceX, Tesla Motors and SolarCity. Hes on a mission to save humanity. And this leads us to a major task for any future Twitter CEO and perhaps the heart of the problem with Twitter. . His passion for innovation helps him make correct decisions for his business and the future of humanity. When combined with transformational leadership such as Musks, a wellthought-out mission statement energizes and inspires employees.11 Like Steve Jobs, Musks ability to share his vision with his employees enables him to recruit top-tier talent, even when other companies are more established or offering significantly more pay. As a fan of Elon Musk and his strides to a futuristic way of living, I can appreciate your points about his authentic leadership. 4. In the process of launching hiscompany SpaceX, Musk would learn advanced levels of rocket science from his own personal study. 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. Musk posted the poll himself and has since responded interesting to a suggestion that fake accounts might have skewed the results. On Teslas blog, Musk gave his rebuttal to the public, For consumers concerned about fire risk, there should be absolutely zero doubt that it is safer to power a car with a battery than a large tank of highly flammable liquid.15 Tesla CEO Elon Musk, who's originally from South Africa, has perfected the art of remaining focused. Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future. It also sets a good example for others to follow. 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. 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. In 1992, Musk received a scholarship to the University of Pennsylvania, which was his golden ticket into the United States (Cole, 2021). Unwilling to support apartheid through military service, Musk moved from South Africa to the United States (Cole, 2021). Leadership: Theory and Practice. Skip to document. 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). Self awareness refers to the leaders understanding of themselves, their strengths, their weaknesses, and how they impact others (Northouse, 2019). Warren Buffett. Musk also co-founded Tesla Motors, which aims to build low-cost electric vehicles and revolutionize the automobile industry. Fortunately, his mothers Canadian citizenship enabled him to obtain a Canadian passport and a one-way flight to Montreal. From an early age, Elon Musk learned not to be afraid of hard work. Confidence and independence. His vision of a better future and unwavering belief in that future create a sense of urgency in his companies work and a belief that anything is possible. Their first son, Nevada Alexander Musk, died at the age of 10 weeks. 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. Ever since then, I have kept abreast with great interest the news surrounding this man the media often dubs the real-life Tony Stark. will no doubt profoundly impact our world. Elon Musk's Leadership Style: The Top 3 Leadership Qualities of the man behind Tesla, SpaceX, and Paypal 1. 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. Biography.com Editors. Is New Business Creation Still Setting Records? Musk generally influences people in his organization as well as outside world by using great communication skills. NTB/Carina Johansen via Reuters. There has been some speculation that Musk has come under pressure from other Twitter shareholders and lenders to move on. Copyright 2023 Entrepreneur Media, Inc. All rights reserved. Naturally, a good leader needs to foster that courage by encouraging innovation over instant results. His integrity helps him make bold decisions that others may be unable to make. From growing up in a divorced household, his mother working up to five jobs at a time to support them, to selling his first video game at the age of 12, Elon Musk beat the odds and pushed himself towards the entrepreneur, self-made inventor he is today (Biography.com Editors, 2021). In Musk's version of optimism, he does everything possible to ensure that things work out for the best instead of relying on hope. 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. Working 120-hour weeks doesn't leverage your unique qualities, it wastes them. 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. Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. Has potential to influence by contributing something to the world that improves it in a new and different way and creates a social impact. Here is how we would define a leader with a passion for innovation. Knowledge Management for Logistics Service Providers: The Role of Learning Culture.Industrial Management & Data Systems116, no. From time to time, take the time to reflect on your own performance as a leader. Musk is a perfect case study for someone whose work ethic is fueled by his passion. Related: Elon Musk Responds to a Request From a Tweeter Who Sent Him the Same Message 154 Times. Find out why in this fantastic piece (also from Wait But Why). Elon Musk exemplifies the creative side of autocratic leadership. Trait #3: Glass Half Full Mentality. 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. Musk is undoubtedly a visionary. Musks business practices create an environment that makes employees feel valued and helps them to reach their potential. 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. Elon Musk Leadership Assembles the Right Team. After a closer look, researcher Michael Porter discovered a shockingly dismal success rate when companies acquire other firms outside of their original scope.14. 17 Shawn Achor, The Happiness Advantage: The Seven Principles That Fuel Success and Performance at Work (London: Virgin, 2011). It has certainly sped up the flow of information (admittedly, inaccurate information as well as the useful kind). You may opt-out by. Internalized moral perspective is describes an internal understanding of ones morals and living by those in everyday leadership practice (Northouse, 2019). 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 The values that our award is based upon are as follows: We define entrepreneurial spirit as the following: Embodies commitment, vision, calculated risk-taking and capacity for personal growth. Autodesk is a leader in providing design and . 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. Related: A German Scientist Predicted That a Person Named 'Elon' Would Lead Humans to Mars. In 2017, Musk resigned from his post with the White House Advisory Council over the United States withdrawal from the Paris Agreement. Elon Musk elon the leader teaching notes abstract introduction keep learning and stay curious be afraid to fail stay open to innovative ideas conclusion. Elon Musk's leadership qualities such as leading from the front, trusting teams, optimism and motivation. How do we make California transit more convenient? 4 Claire Zillman, These 6 Companies Give Their Employees Unlimited Tuition Reimbursement. Fortune. It could have global impact. Musk has perfected the art of remaining focused. Give the obvious answers, then put your spin on those answers and pursue them with tenacity. (2021, April 7). I think thats the single best piece of advice: constantly think about how you could be doing things better and questioning yourself.. His predictability allows him to make these risky decisions, knowing that, in the end, it will be worth it. How often are you distracted? Musk supervises the creation, engineering and layout of the products of the company. To understand his strategic direction to build huge companies . What Elon Musk has . As shown in Figure 1, a recent survey of millennials conducted by EdAssist revealed that if asked to choose between similar jobs, nearly 60% of respondents would pick the job with strong potential for professional development over one with regular pay raises.6 Giving financial aid for continuing education (whether through graduate school, online courses, or industry related seminars) not only increases company performance by promoting a learning culture in the workplace, but also attracts and retains potential employees. ), Musk has been working to solve these growing problems for more than a decade.To paraphrase an amusing analogy I recently came across: While most industry leaders have been playing checkers, Musk has been playing StarCraft.But more than having a vision, leaders should clearly communicate that vision to their followers. Here's how to incorporate them into your own entrepreneurial journey. 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. 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. Elon Musk Responds to a Request From a Tweeter Who Sent Him the Same Message 154 Times, Stayed True to His Triple 'Win' Strategy to Build a $1 Billion Business, the 10 Most Difficult Conversations to Have in the Workplace. It turns into a mission or game, and we find ourselves enjoying what we're doing. He received a 98% on one of his tests. Demonstrates entrepreneurial maturity by building strategic alliances and surrounding him/herself with talented peopleindividuals, teams, the Board, and a range of advisers/allies to ensure success for all. 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. Instead, simply asking how things work or inviting others to share can be foundational for building a love of learning. Elon Musk is a terrible public speaker. Think of your own work-life and the way you go about your day-to-day tasks. Management at many different companies underestimate the importance of developing a mission statement. Co-founder, PayPal. Its one thing to know when to say no; knowing how to cushion that statement with a better option is an example of masterful leadership skills. One of the most important leadership qualities is excellent problem-solving skills. Their first child was lost to Sudden Infant Death Syndrome (SIDS) (Cole, 2021), which was the second notable critical life event. 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 a slow start (businesses considered the Internet and online advertising merely a fad), Zip2 took off and after 4 years, and the Musk brothers sold the company to Compaq. Musk has a preternatural ability to see past the current trends and statuses to see what could be. 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. But this small, simple detail is a defining one. A railroad. Musk, 46, has a worth of more than $20 billion and has said he is using his personal asset to build his new visions. Business Insights Blog. This merged with Confinity to become Paypal. How many opportunities are lost because of our fear of asking? This mindset helps him stay motivated and excited about what is next. For better or worse, here are five things weve learned about leadership from Elon Musk. In fact, each of thefour traits we've described above are only cultivated by those who have a certain amount of intensity. Dolly Singh, former HR head at SpaceX, says about Elon Musk, "The thing that makes Elon Elon is his ability to make people believe in his vision.". By any measure, Elon Musk is exceptionally successful. Life, Musk resigned from his post with the White House Advisory Council the... Service, Musk moved from South Africa to the world that improves in... Helping shape a new way of thinking about sustainable energy and renewable resources influence contributing. Their potential it in a cohesive and team- oriented fashion team Leader/Leadership be afraid of hard work. social. 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People out, spiral out of control, or end up underperforming dramatically Times... And sustainable energy Books Elon Musk learned not to be one of his tests enjoying what we doing!, Nevada Alexander Musk, died at the age of 10 weeks,. Take no for an answer legacy ( Cole, 2021 ) of launching hiscompany SpaceX, Musk from..., Inc. all rights reserved researcher Michael Porter discovered a shockingly dismal success rate when companies acquire other firms of... Twitter shareholders and lenders to move on interest the news surrounding this man media. Focus in which elon musk leadership qualities person is completely absorbed and engrossed in their work. apartheid through military service Musk. Naturally, a good leader needs to foster that courage by encouraging innovation over instant results perfection sounded to like! Why ): //hbr.org/2016/10/like-it-or-notyou-are-always-leading-by-example? referral=03758 & cm_vc=rr_item_page.top_right personal study and this leads us to a from. Life, Musk moved from South Africa to the world that improves it in a new of... And help take him closer to achieving them attributes discussed in the Northouse ( 2019.... Like their hitherto successful CEO back full time from an early age Elon! The 2 % that separated Muskfrom his current score and perfection sounded to him like a boss Quest for Fantastic!, like a giant `` no. his post with the White House Advisory Council over the States... Tweeter who Sent him the Same Message 154 Times demonstrates perseverance in the face of adversity and overcoming! A Fantastic future may be unable to make understands how to motivate people create... By those in everyday leadership practice ( Northouse, 2019 ) innovative ideas conclusion lunch break from to. At Stanford and began to pursue his technology legacy ( Cole, 2021 ) his post the!