2017 BluePointe Capital Management, LLC. He then tried to pull out of the deal in July, before finally taking ownership in October. Do you have a strong belief in it? Encyclopdia Britannica. And while it's important to prioritize work-life balance, the wealthiest people don't get wealthy by . From his 2014 USC Commencement to his 2017 Tesla Product Reveal, it seems like Musk stutters through every presentation. Sometimes, as a leader, you need to step back and say no when things no longer serve your personal and organizational goals. Learn to say no.. When Musk is brave with his decisions, his team is empowered with the same courage. The ability to face facts. 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. This kind of thinking makes many companies mediocre. Elon Musk. But the reality has been rather different. 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). He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. 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. Let your vision guide you That is why our content will always be free, and we would be forever grateful to those who help make that possible. 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. One of the most important leadership qualities is excellent problem-solving skills. Musk has described his estranged father Errol as "evil.". Opinionated But Humble Apple's Steve Jobs, like Musk, lived in the bottom right . For some time now, I've been assessing Musk and have outlined five different reasons that explain why he's so successful. Tesla will not initiate patent lawsuits against anyone who, in good faith, wants to use our technology.Perhaps this is why investors have stuck with him despite Tesla Motors still operating on a loss and SpaceX rarely meeting its ambitious goals on time and within budget. Steve Jobs. He is a true visionary who can see the road to the future. Gavin, M. (2019b, December 10). He read everything he could find about space travel and rocket technology. 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). I would have been happy with a 98%. There are occasions when Musk's employees or those working with him find him hard to work with. as well as other partner offers and accept our. 3. Give the obvious answers, then put your spin on those answers and pursue them with tenacity. Warren Buffett. The company was sold to eBay in 2002 and netted Musk US$180 million in the process. entrepreneur.com/article/279971. 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. As a student of leadership, I can see three key requirements for anyone considering - or being considered for - this role right now: 1. One employee said "If Elon was not happy, you knew it. So what are the most important characteristics of a good leader? 19 Nicholas A. Christakis, and James H. Fowler, Connected: The Surprising Power of Our Social Networks (New York: Back Bay Books, 2011). 11 Duane Ireland, and Michael A. Hitt, Mission Statements: Importance, Challenge, and Recommendations for Development, Business Horizons, vol. Musk has remained true to his vision for the future throughout his career. But this small, simple detail is a defining one. 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). Qualities of a visionary leader. Tesla Motors is a maker of electric cars. Twitter is struggling financially. Read our privacy policy for more information. ), 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. 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. Skip to document. His secret is that he taps into people's yearning for inspiration. 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. 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. Fear is an emotion that keeps us from doing things that can help us achieve our goals. I would have been happy with a 98%. An electric railroad that goes through an enormous tunnel, dug into the side of a mountain. It is not a platform like Facebook or Instagram that can deliver billions of users to potential advertisers. There are three main models used in this essay to explore the leadership of Elon Musk, namely behavioral theories, Transformational theory, and path-goal theory. From time to time, take the time to reflect on your own performance as a leader. Many leaders share the mindset to "just get it done" or accept it's good enough even when it's not. How many opportunities are lost because of our fear of asking? I feel the same way. Los Angeles: Sage Publications. 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. He received his first computer at 9 and by 12 had coded and sold a video game (Cole, 2021). The reason that we feel Elon Musk is an outstanding example of the entrepreneurial spirit is his ability to overcoming disappointment. In the process of launching hiscompany SpaceX, Musk would learn advanced levels of rocket science from his own personal study. What Might That Mean For The Economy? Outside of the business world, Musk is leading the push for renewable energy to help fight climate change. He displays authenticity on a personal, organizational, and global level. They have a strong sense of themselves and what they stand for (Northouse, 2019). 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. How do we make California transit more convenient? When a leader exhibits these qualities, it creates a sense of trust and authenticity in followers. 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. In this segment we're looking at Elon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. In an ideal world, he could do all of the work himself. May 31, 2021. You have two choices in life - to see the world as a pessimist, or . 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.. Working 120-hour weeks doesn't leverage your unique qualities, it wastes them. This is arguably the first of two critical life events. Leadership is not just a function of management as many perceive it; it is also work and example. When a leader exhibits these qualities, it creates a sense of trust and authenticity in followers. Instead, simply asking how things work or inviting others to share can be foundational for building a love of learning. This is inspirational and indubitably it has allowed him to persist through highly challenging circumstances in his businesses. We can also absentmindedly rattle off a stream of adjectives that describe him and his leadership qualities: innovator, leader, genius, visionary, futurist, entrepreneur. Bhd. No is obviously a negative word, but its the ideal opportunity to clarify your intentions and redirect employees to a more positive path. His passion for his work is so intense that it fuels late-night shifts, motivates 80-hour work weeks and, like we talked about in the last section, sleeping under his desk. His integrity helps him make bold decisions that others may be unable to make. 1. Web Design & Marketing Solutions provided by Select Advisors Institute, LLC. Elon Musk is one of the most innovative and driven entrepreneurs of our time. Biography.com. Self awareness refers to the leaders understanding of themselves, their strengths, their weaknesses, and how they impact others (Northouse, 2019). He believes that the future of humanity relies on our ability to make bold decisions and take big leaps. We can also absentmindedly rattle off a stream of adjectives that describe him: innovator, leader, genius, visionary, futurist, entrepreneur. 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 fact, each of thefour traits we've described above are only cultivated by those who have a certain amount of intensity. His father is South African-born and his mother is Canadian-born, from Regina, Saskatchewan, and also has American antecedents. 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). What can you do to set the standard in your industry? The initial question is always small, then the answers grow progressively bigger. When considering his moral reasoning, it is important to look at the type of products he designs and creates. 2. "What do you do when youre on your lunch break? By any measure, Elon Musk is exceptionally successful. Elon Musk exemplifies the creative side of autocratic leadership. Wow, you scrolled all the way to the bottom! If we can overcome the initial fear of being told "no" and understand that no truly means nothing, we'll be better for it. A new Twitter CEO will want assurances that they will be free to take decisions about the direction of the business without being second-guessed by Musk as the majority owner. Many of Musk's grand ideas come from small questions. 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. Know an entrepreneur that embodies these values? 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. I feel the exact same way. They push people out, spiral out of control, or end up underperforming dramatically. Elon Musk inspires his employees because, although he has high expectations for them, he demands even more from himself. His leadership style is transformational and transactional, aimed at attaining results. In consideration of the leadership skills of Jobs and Musk, I see four overlapping things. Their first child was lost to Sudden Infant Death Syndrome (SIDS) (Cole, 2021), which was the second notable critical life event. 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. Why is Elon Musk so scared of Artificial Intelligence? Elon Musk's leadership style makes him unique and better than almost anyone. Tesla balance. In this week's issue highlight, "Religion in the W, Our 1st Annual Authors Banquet occurred about a, Changing the World One Garden at a Time Has potential to influence by contributing something to the world that improves it in a new and different way and creates a social impact. His entrepreneurial mentality helps him overcome his challenges when starting new companies. 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! In 2000, he met Justine Musk who would mother six of his children. A new Twitter CEO will want assurances that they will be free to take decisions about the direction of the business without being second-guessed by Musk as the . 10. Here are a few considerations that Musk should pursue to get Tesla back on track. 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. Why that would be exactly what I, and millions of other young men, would do if we had the moolah to throw around. 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. Together with his brother, he founded Zip2 which was an online directory for businesses. Think of your own work life and the way you go about your day-to-day tasks. Along with the transformational approach, Elon Musk as a leader believes in achieving the impossible, embracing failures, cutting back on unimportant . In fact, there was a time during Tesla inc's infancy when Musk would sleep under his desk and work 75-hour weeks until a specific problem was solved and his goals were accomplished. Guided by a strong sense of personal values has earned him/her great respect from staff, competitors, advisers, family and wider community. Someone who has reached goals youre still working on can give you real-life, actionable tips to becoming a better leader. 8 Simon Sinek. But is it really a commercial proposition? 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. Stay up to date with what you want to know. His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. Later, he said, advice I would give is to not blindly follow trends. 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. Because managers generally interact with a large number of employees, they have a tremendous opportunity to influence office culture. Sheryl Sandberg. 1. Relinquish CEO duties to a qualified candidate Accept an alternative leadership role that aligns with the expertise and time availability Restructure Tesla's board of directors without conflicts of interest or dependencies 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. 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 believes in clean energy and is helping to advance it by spending most of his time on the two companies devoted to this cause: Tesla Motors and SolarCity. will no doubt profoundly impact our world. As a young man, Musk discovered that he was keenly interested in a few fields that he thought would have an impact on the world: the internet; sustainable energy; space exploration, in particular the permanent extension of life beyond Earth; artificial intelligence; and reprogramming the human genetic code.. While Musks resume is pages long, this is the side of Elon Musk that can be easily seen through Google searches and records. Up to date with what you want to know finally taking ownership in October is exceptionally.! Sense of personal values has earned him/her great respect from staff, competitors, advisers family! Long, this is inspirational and indubitably it has allowed him to persist through highly challenging circumstances in businesses... 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