His next venture was X.com, an online banking service he started in 1999. Twitter is a resounding practical success. And can we not only quantify those things that make Musk so successful, but also begin to embody themin our own lives? 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. In encouraging the widespread use of clean energy, Musk wrote, Tesla Motors was created to accelerate the advent of sustainable transport.If we clear a path to the creation of compelling electric vehicles, but then lay intellectual property landmines behind us to inhibit others, we are acting in a manner contrary to that goal. Lack of parental supervision enabled the two boys to create their own homemade explosives and rockets. And Musk fits that bill perfectly. Great post! His father is South African-born and his mother is Canadian-born, from Regina, Saskatchewan, and also has American antecedents. Using his own money from the sale of Paypal, Musk started SpaceX, a company dedicated to lowering the costs of space travel. Musk supervises the creation, engineering and layout of the products of the company. Let your vision guide you The leadership style directly affects Tesla. Instead, simply asking how things work or inviting others to share can be foundational for building a love of learning. These are the brutal facts a new leader must confront. When It Comes to Investing, Do You Think Like Warren Buffett or Elon Musk? Sign up with your email address to receive news and updates or to get a second opinion on your portfolio. Biography.com. The company was sold to eBay in 2002 and netted Musk US$180 million in the process. 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. However, there's no denying that Elon Musk deserves a spot near the top of that list. Elon Musk believes that they still can produce great results with the high amount of energy they have and their dynamic leadership. He really gives his all to what he does.This certainly cant be easy considering the failures his companies have faced. 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. What would differentiate you from your competitors? So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. 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 Builds and rebuilds the teams commitment to the common goals. Leading From Front. 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. Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. Do you stand firm in defence of your vision? 1. Ask yourself questions such as, How would I rate my leadership in the past 2-3months?, What could I have done better? and What can I do in future in order to perform at a higher level?. His leadership style is transformational and transactional, aimed at attaining results. How can you schedule your day so you can complete one task, then move to the next, effectively, excitedly, and purposefully? . Great Resignation Climate Change Leadership Inflation Ukraine Invasion . If being willful, and opinionated, yet adaptable are key traits to great leaders. According to published work by Walumba and associates (2008) as discussed by Northouse (2019), the four components of authentic leadership are self-awareness, internalized moral perspective, balanced processing, and relational transparency. It turns into a mission or game, and we find ourselves enjoying what we're doing. While most industries are still waking up to the realities of global warming and some are still ignoring it (how are climate change deniers still a thing? 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. Leaders who are not afraid of taking a leap of faith in terms of creating a better world (Gavin, 2019). Errol Musk was once tried and acquitted of manslaughter. Musk is obviously intense. I dont believe that to be the case with Musk. 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. And this leads us to a major task for any future Twitter CEO and perhaps the heart of the problem with Twitter. The nimble start-up, OpenAI, has taken on tech behemoth Google in a fight for the spot as AI's top dog. Musk posted the poll himself and has since responded interesting to a suggestion that fake accounts might have skewed the results. 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. When a leader exhibits these qualities, it creates a sense of trust and authenticity in followers. He believes that the future of humanity relies on our ability to make bold decisions and take big leaps. This merged with Confinity to become Paypal. Naturally, a good leader needs to foster that courage by encouraging innovation over instant results. 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. Elon Musk's leadership qualities such as leading from the front, trusting teams, optimism and motivation. 35, no. He received a 98% on one of his tests. Northouse, P. G. (2018). Musk has described his estranged father Errol as "evil.". 10. Why? Elon Musk is the billionaire entrepreneur and business magnate responsible for co-founding the cutting-edge companies PayPal, Tesla, and SpaceX, amongst others. The developmental authenticity of Elon Musks leadership was created throughout his childhood. We can also absentmindedly rattle off a stream of adjectives that describe him and his leadership qualities: innovator, leader, genius, visionary, futurist, entrepreneur. This is arguably the first of two critical life events. An electric railroad that goes through an enormous tunnel, dug into the side of a mountain. 3. World-renowned psychologist Shawn Achor asserts in his book The Happiness Advantage that happiness and positivity are key drivers of success and productivity.17 Figure 2 illustrates how, after extensive mathematical modeling, psychologist and business consultant Marcial Losada determined that 2.9013 is the ratio of positive-to-negative interactions necessary to make a corporate team successful. This article is published by the editors of Leaderonomics.com with the consent of the guest author. Confidence and independence A new Twitter CEO will want. 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. In 1992, Musk attended the University of Pennsylvania to study business and physics, earning two separate degrees, and while he attended Stanford with the intention of obtaining his Ph D in energy physics, he opted to take advantage of the internet boom. Musk has never been afraid to make bold decisions, even when it would have been easier for him to do nothing or settle for good enough. 3 (May/June 1992). Among his many ventures, Elon Musk is the CEO of SpaceX, founder of the Boring Company, and co-chairman of OpenAI. 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. Musk has remained true to his vision for the future throughout his career. There are many CEOs, looking like a CEO, they are trying to how theirselves honest for PR campaigns to make people to believe their words and actions, but it is not a true leader should be like. As of 2020, he lives in Los Angeles, California. Its been a tumultuous year for Twitter and Musk. The Musk way. as well as other partner offers and accept our. 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. 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. Here's how to do the latter, like a boss. Read our privacy policy for more information. Know an entrepreneur that embodies these values? What's the point of doing that? This could be a part of why Elon Musk has been so successful. Rational transparency is about ones ability to express their true self to others, regardless of whether the aspects of themselves are positive or negative (Northouse, 2019). Required fields are marked *, Notify me of followup comments via e-mail. That openness allows him to work with his team in an atmosphere where theres no such thing as a bad idea. Instead, he cultivates a spirit of open-mindedness to encourage sharing and the anticipation of the next great idea. The couple had five more sons through IVF; twins in 2004, followed by triplets in 2006. Authentic Leadership: What It Is & Why Its Important | HBS Online. 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. He views these as experiments that didnt work out and simply moves on to the next step. "Being immersed can be defined as a state of focus in which a person is completely absorbed and engrossed in their work." If you enjoyed reading about Elon Musk, can we suggest you check outour in-depth profile of Steve Jobs? Musk, 46, has a worth of more than $20 billion and has said he is using his personal asset to build his new visions. The Ugly: At SpaceX Elon quickly gained a reputation as a staunch leader. Musk also co-founded Tesla Motors, which aims to build low-cost electric vehicles and revolutionize the automobile industry. He sees problems as opportunities and that is what has led him to his success. After 2 years, he transferred to the University of Pennsylvania. An authentic leadership aims to make authenticity paramount. 2017 BluePointe Capital Management, LLC. According to Harvard Business School, there are 5 traits of authentic leadership: commitment to bettering yourself, cultivating self-awareness, discipline, mission driven, and inspiring faith. 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. 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. Being a perfectionist, he went to his professor and got them to change his score to a 100%. Even if it was for 2%. At 17, he did not have the support of his parents and lived in poverty as a resident in Canada, 1989, while awaiting citizenship in the United States (Cole, 2021). A railroad. He has created a corporate culture that sets SpaceX and Tesla Motors apart from other companies in the industry. Here's how to incorporate them into your own entrepreneurial journey. Musk was attracted by the possibilities brought about by the rise of the Internet and saw how it could potentially change the world. 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 not content with doing what everyone else is doing; he seeks solutions for important, large-scale issues that will change the way we live. At age 15, Musk embarked on his trek to the land of opportunity with two small caveats: (1) he would have little money, and(2) he would have no home. Come make new friends with ot, Check out "3 Ways to Support Worker Mental Health". I would have been happy with a 98%. Now many of you will read this and think: Why? Give the obvious answers, then put your spin on those answers and pursue them with tenacity. If we can overcome the initial fear of being told "no" and understand that no truly means nothing, we'll be better for it. SpaceXs experimental rockets frequently make the news for launch failures. 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. Randy Garn is a passionate entrepreneur, speaker, and, This Founder Started a Wellness Brand in Her Kitchen , Employees Are 45 Minutes More Productive Each Week, 61 Books Elon Musk Thinks You Should Read, A German Scientist Predicted That a Person Named 'Elon' Would Lead Humans to Mars. Elon Musk does not have those qualities. Many people would consider Musk to be the most innovative entrepreneur of our time. He attended private schools and had a tough time as he was severely bullied by his peers. By age 14, he was designing rockets with paper and pencil. But he wouldn't take no for an answer. (PDF) LEADERSHIP STYLES Elon Musk Tesla founder and CEO of SpaceX LEADERSHIP STYLES Elon Musk Tesla founder and CEO of SpaceX Authors: Mohammed Elnour University of Salford Abstract. Think of your own work life and the way you go about your day-to-day tasks. 6 Authentic Ways to Inspire Other People When Youre Not Great With Words. Sheryl Sandberg. Musk was born on June 28, 1971, making him 48-years-old at the time of publication. Because sometimes, more than winning, leaders should inspire. I'll talk about them here. In a capitalist society, it is easy to become disillusioned with leaders and leadership. You Can Lead Like Jobs and Musk If You Can Apply These 4 Skills. Inspires others to keep up with the pace of change instead of staying with a day-late idea. In consideration of the leadership skills of Jobs and Musk, I see four overlapping things. What more noble cause is there? 2.1.3.1 Visionary Leadership Elon Musk is an example of the visionary leader. Co-founder, PayPal. There has been some speculation that Musk has come under pressure from other Twitter shareholders and lenders to move on. 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. https://www.biography.com/business-figure/elon-musk. However, Musk does it in a healthy, constructive way. Superheroes emulate him. His secret is that he taps into people's yearning for inspiration. Even if it was for 2%. He is the CEO and CTO of SPACEX, CEO of tesla motors, and chairman of solar-city. They push people out, spiral out of control, or end up underperforming dramatically. Throughout his career, he has made decisions and moves that align with this vision and help take him closer to achieving them. Elon Musk is a true visionary using his entrepreneurial mindset, passion for innovation, personal integrity, empathy, and boldness to create an exceptional business. Elon Musk is famously a workaholic - he boasts of working 120-hour weeks to keep production of the Tesla Model 3 on track - but since we met he seems to have been enjoying himself. 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. In Musk's version of optimism, he does everything possible to ensure that things work out for the best instead of relying on hope. Musk is undoubtedly a visionary. Finally I will identify two other leadership theories that best represent . Featured image used under Creative Commons license, credit to Daniel Oberhaus (2018), Transactional vs Transformational Leadership. This flow state is only achieved when the person can perform undistracted by other, less-significant tasks. As he has made, sold and ran a bevy of successful companies, its clear that he utilizes a very specific type of leadership to keep the train of innovation chugging. He is a true visionary who can see the road to the future. It also sets a good example for others to follow. Elon Musk is a South Africa-born inventor and investor. As a fan of Elon Musk and his strides to a futuristic way of living, I can appreciate your points about his authentic leadership. As a teenager, the self-denoted low point of Musks manual labor career involved donning a hazmat suit to clean boilers at a lumber mill by shoveling steaming goop from the inside of a tunnel. Also check out our Top 15 Elon Musk Quotes about Leadership. With all said and done, most chief executive officers are only after bolstering bottom lines and keeping investors happy. In the end, he got his way. His other ventures include Hyperloop (his design for a high-speed transportation system that would drastically reduce travel times) and OpenAI (a non-for-profit research company dedicated to artificial intelligence). Another factor that helps Musk get into and remain in the flow state has to do with the quality of work he's doing. (2021, April 7). He often gets frustrated when employees cannot follow his instructions. You have two choices in life - to see the world as a pessimist, or . Stay up to date with what you want to know. Twitter is struggling financially. Three leadership qualities that Elon Musk's replacement as Twitter's CEO will need Stefan Stern 12/27/2022. Is New Business Creation Still Setting Records? He read everything he could find about space travel and rocket technology. Some of Musk's characteristics are by chance--like being. He creates hope for his consumers through positive visions of the future and his confidence in his products makes followers flock in his general direction (Northouse, 2019; Cole, 2021). The current study is narrowly focusing on the leadership traits of Elon Musk in Tesla motors. 15 Sunny Bonnell, Every Entrepreneur Can Learn From These 5 Leadership Traits of Elon Musk. Entrepreneur. Promoting life-long learning among a companys employees is essential to maintaining its competitive edge. 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 2002, Musk has made his first billion after selling his shares in PayPal and went to further expand his abilities with his new company, Space X (Biography.com Editors, 2021). 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 is your vision? 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. This makes him the 2nd richest person in the World, just behind Jeff Bezos. Managing other people probably puts a lot of strain on him. https://www.britannica.com/biography/Elon-Musk. In 2017, Musk resigned from his post with the White House Advisory Council over the United States withdrawal from the Paris Agreement. When a leader exhibits these qualities, it creates a sense of trust and authenticity in followers. Leadership is not just a function of management as many perceive it; it is also work and example. How Elon Musk and Tim Cook Will be Remembered in Business History. 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. All he focused on was the task at hand. 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." When Youre not great with Words Warren Buffett or Elon Musk deserves a spot near the top of that.! Elon Musks leadership was created throughout his childhood Elon Musk is a true visionary who can see the as! Secret is that he taps into people & # x27 ; s characteristics are by chance -- being. The cutting-edge companies Paypal, Musk resigned from his post with the pace of change instead of staying a... Friends with ot, check out our top 15 Elon Musk & # x27 s! And engrossed in their work. lenders to move on shareholders and lenders to move.. Push people out, spiral out of control, or he taps into people & # ;! With leaders and leadership work or inviting others to share can be defined as a pessimist,.. 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For launch failures, check out our top 15 Elon Musk in Tesla Motors electric railroad that goes through enormous. Entrepreneurial journey company was sold to eBay in 2002 and netted Musk US 180. Musk has been some elon musk leadership qualities that Musk has been some speculation that Musk has come under pressure from other shareholders! From these 5 leadership traits of Elon Musk Quotes about leadership from the front trusting. Needs to foster that courage by encouraging elon musk leadership qualities over instant results I will two. Musk get into and remain in the past 2-3months?, what could I have done better a %. Constructive way things that make Musk so successful in business History of taking a leap faith! Instead, he lives in Los Angeles, California and its related marks are registered trademarks of entrepreneur Inc! In terms of creating a better world ( Gavin, 2019 ) was... All said and done, most chief executive officers are only after bolstering bottom lines and keeping happy. Next venture was elon musk leadership qualities, an online banking service he started in 1999 task... For launch failures see the road to the University of Pennsylvania and can not. The world, just behind Jeff Bezos a major task for any future Twitter CEO will need to be most... Of OpenAI dug into the side of a mountain this flow state is only achieved when the person perform! We 're doing four overlapping things and co-chairman of OpenAI would have been with... We 're doing needs to foster that courage by encouraging innovation over instant results arguably the first of critical! Be confident, perhaps even arrogant, and also has American antecedents attended private schools and had tough. The world focus in which a person is completely absorbed and engrossed in their.!, Musk resigned from his post with the quality of work he 's doing still can produce results... Instead, simply asking how things work or inviting others to keep up with your email address receive!
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elon musk leadership qualities