In the end, he got his way. He received his first computer at 9 and by 12 had coded and sold a video game (Cole, 2021). 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$mcj = jQuery.noConflict(true); Your email address will not be published. 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. We can also absentmindedly rattle off a stream of adjectives that describe him and his leadership qualities: innovator, leader, genius, visionary, futurist, entrepreneur. 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.". I would have been happy with a 98%. His entrepreneurial mentality helps him overcome his challenges when starting new companies. Your email address will not be published. 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. As of October 2016, his estimated net worth is US$11.5 billion. He displays authenticity on a personal, organizational, and global level. Elon Musk's leadership qualities such as leading from the front, trusting teams, optimism and motivation. He began building up shares in the company in January 2022 and his US$44 billion (36 billion) bid to buy the platform was accepted in April. Furthermore, Losada discovered that although teams just above the Losada Line arent hindered by negativity, teams that manage to reach a ratio of six-to-one positiveto-negative comments yield peak levels of performance.18. Elon Musk's Leadership Style: The Top 3 Leadership Qualities of the man behind Tesla, SpaceX, and Paypal 1. But this small, simple detail is a defining one. After Ashley Vances book, this is the best piece of writing out there on the man behind Space X and Tesla. 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. 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. 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. He didn't think about anything else. He is the CEO and CTO of SPACEX, CEO of tesla motors, and chairman of solar-city. I dont believe that to be the case with Musk. How can you schedule your day so you can complete one task, then move to the next, effectively, excitedly, and purposefully? You must really like us. For better or worse, here are five things weve learned about leadership from Elon Musk. He has a vision of a world that is no longer reliant on fossil fuels, is maximizing their use of green energy, and is exploring space and building colonies on Mars (Jacoby, 2011). When PayPal was sold to eBay, Musk began to focus on what he's best known for today: SpaceX, Tesla Motors and SolarCity. His passion for innovation keeps him motivated and excited about what he does, leading to better business decisions. So find a smallidea. Elon Musk is the billionaire entrepreneur and business magnate responsible for co-founding the cutting-edge companies PayPal, Tesla, and SpaceX, amongst others. He wants to die on Mars. 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. Its been a tumultuous year for Twitter and Musk. That is why our content will always be free, and we would be forever grateful to those who help make that possible. And the commitment to bettering ones self in conjunction with honing leadership skills, and embracing a mission we put ourselves in a position to be great leaders. He has borrowed huge sums and sold large tranches of Tesla stock to help fund the acquisition. He faced failure and strife, but he maintained his optimism and was able to continue on through his resilience (Northouse, 2019; Cole, 2021). He may rethink stepping down, or even appoint someone only to sack them. Elon Musk has married thrice and twice to the same woman. Elon Musk may be Time's person of the year, but fintech executives should not follow his cavalier communication style. 6 Authentic Ways to Inspire Other People When Youre Not Great With Words. Tesla balance. Some of Musk's characteristics are by chance--like being. 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. This essay will include a description of Elon's leadership qualities and a comparison to the trait theory of Leadership. will no doubt profoundly impact our world. Big ideas always come from small thinking. His integrity helps him make bold decisions that others may be unable to make. Qualities of a visionary leader. A great leader must have a vision and it is not about just knowing where you are but also where you want to be. It also motivates him to start new companies, even if they initially need to work out. Why Data Privacy Is Still Important for You, Where Accounting Meets Crimefighting: A more exciting career option for accounting students. But can we. 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. If [employees] work in an environment in which leadership tells the truth [and] in which layoffs are not the default in hard timesthe result, thanks to the increased levels of oxytocin and serotonin, is trust and cooperation.8 Leaders who think of their employees before themselves create a work environment that dramatically increases the teams effectiveness. 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. Yet, while his unique personality and boundless creativity have led to incredible success for his. China's birth rate declines for first time in decades. Works on Ground Level. His next venture was X.com, an online banking service he started in 1999. He has used his skills to aid in the design of electric cars and even spaceships. This is inspirational and indubitably it has allowed him to persist through highly challenging circumstances in his businesses. I'll talk about them here. Creates a culture of innovation. 2017 BluePointe Capital Management, LLC. Weve recently launched theBluePointe Capital TechnologyEntrepreneur of the Year Awardto honor the brilliant creators who are changing society for the better. You Can Lead Like Jobs and Musk If You Can Apply These 4 Skills. Employees, colleagues, customers, and investors should feel energized being around a leader. 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. Internalized moral perspective is describes an internal understanding of ones morals and living by those in everyday leadership practice (Northouse, 2019). However, Musk does it in a healthy, constructive way. Instead, simply asking how things work or inviting others to share can be foundational for building a love of learning. But the reality has been rather different. Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future. Musk is a natural leader who cares about his employees. In his teen years, Musk spent a significant amount of time pouring over religious and philosophical texts. Builds and rebuilds the teams commitment to the common goals. He views these as experiments that didnt work out and simply moves on to the next step. 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. And Musk fits that bill perfectly. Demonstrates perseverance in the face of adversity and to overcoming obstacles. 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. Many do not have access to the resources needed to bring out their full leadership potential. Musk has described his estranged father Errol as "evil.". Stay up to date with what you want to know. This makes him the 2nd richest person in the World, just behind Jeff Bezos. Watch this TED Talk interview with Elon Musk: Wait But Why did anamazingseries on Elon Musk. From an early age, Elon Musk learned not to be afraid of hard work. Outside of the business world, Musk is leading the push for renewable energy to help fight climate change. His electric supercars seat seven. He is able to push his employees harder because they understand that they are working towards a greater cause. Here's how to do the latter, like a boss. Mentors are invaluable when it comes to developing a leadership style. The couple had five more sons through IVF; twins in 2004, followed by triplets in 2006. His predictability allows him to make these risky decisions, knowing that, in the end, it will be worth it. After lengthy development of a new model of his all-electric Tesla car, the vehicle burst into flames during a test run. He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. 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. Elon Musk Leadership Assembles the Right Team. 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). Musk is obviously intense. In Musk's version of optimism, he does everything possible to ensure that things work out for the best instead of relying on hope. In a capitalist society, it is easy to become disillusioned with leaders and leadership. Hes on a mission to save humanity. This is a BETA experience. 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. Musk has perfected the art of remaining focused. He often gets frustrated when employees cannot follow his instructions. This might be a little bit more difficult to do, but I think it's possible. Be obsessed and obsessive. Together with his brother, he founded Zip2 which was an online directory for businesses. Musk has a preternatural ability to see past the current trends and statuses to see what could be. Inspiring leaders set the example for their employees through consistent hard work and adherence to the companys core values.7. To understand his strategic direction to build huge companies . Here's how to incorporate them into your own entrepreneurial journey. While Musks ability to fail may not separate him from his competitors, he differentiates himself with his ability to remain optimistic and wholeheartedly convinced that he will succeed. Elon Musk Biography. Think of your own work life and the way you go about your day-to-day tasks. I think thats the single best piece of advice: constantly think about how you could be doing things better and questioning yourself.. This could be a part of why Elon Musk has been so successful. 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 However, there's no denying that Elon Musk deserves a spot near the top of that list. Know an entrepreneur that embodies these values? 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?. But can we describe why the SpaceX CEO is the way he is? Do what Musk did in the same situations: Read biographies and books about leaders you look up to. 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. Related: When It Comes to Investing, Do You Think Like Warren Buffett or Elon Musk? Randy Garn 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? 11 Duane Ireland, and Michael A. Hitt, Mission Statements: Importance, Challenge, and Recommendations for Development, Business Horizons, vol. This leadership style's strengths are innovative thinking, analysis, problem-solving, planning, and strategy execution. How Elon Musk and Tim Cook Will be Remembered in Business History. An electric railroad that goes through an enormous tunnel, dug into the side of a mountain. Wow, you scrolled all the way to the bottom! Why? Being a perfectionist, he went to his professor and got them to change his score to a 100%. NOW WATCH: Elon Musk says Tesla owners could make up to $30,000 a year turning their cars into 'robotaxis'. He is the co-founder of PayPal, CEO and CTO of SpaceX, and CEO and product architect at Tesla Motors (Cole, 2021). Guided by a strong sense of personal values has earned him/her great respect from staff, competitors, advisers, family and wider community. Recognizes business imperative of anticipating and embracing changes occurring in the competitive environment through continuous improvement in all aspects of the business. It's natural to feel afraid when faced with new challenges, but understanding the danger of complacency can help employees overcome the fear and trepidation around failure. 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). Musk once said, "I'd rather be optimistic and wrong, than pessimistic and right.". Purpose: To learn and understand the qualities of Elon Musk as a leader that make him so successful. Because sometimes, more than winning, leaders should inspire. With all said and done, most chief executive officers are only after bolstering bottom lines and keeping investors happy. How can you schedule your day so you can complete one task, then move to the next, effectively, excitedly, and purposefully? The novel led Musk to deduce that the only thing that makes sense is to strive for greater collective enlightenment.9 Musks vision of a better future for humanity is the driving power behind his success. Musk paid US$44 billion to buy it, perhaps twice what it was worth. He then tried to pull out of the deal in July, before finally taking ownership in October. He also had a hand in conceptualizing and financing SolarCity, which is now the second largest solar power systems provider in the United States. 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. Unfortunately, he died of sudden infant death syndrome. Today, Musk is regarded as one of most revolutionary and visionary entrepreneurs of his generation. 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. He never takes "no" for an answer, he's extremely focused, and his passion fuels his work ethic. 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. With Musk, he seeks to add quality to society while at the same time presenting a superior tomorrow to humanity. Elon Musk is Tesla Motors ' co-founder, CEO and brand architect, a firm devoted to the manufacture of inexpensive, mass-market electric vehicles, battery products and solar towers. He's quite possibly a genius. Also check out our Top 15 Elon Musk Quotes about Leadership. Elon Musk is a honest person/executive, the world we live has a great lack of honesty. These five traits together create what is presumably a great leader (Gavin, 2019). When it comes to the troublemakers in your organization you have two choices: cut them out or rein them in. After 2 years, he transferred to the University of Pennsylvania. . Musks innate sense of curiosity stems largely from the unusual amount of independence he experienced as a child. Question and challenge the status quo. 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. Things could get nasty.". 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. Few more of his leadership traits are given below: Leading with Purpose Collaborative Being Comfortable with Change Operating with integrity Being Continuous learner is a priority Optimistic 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. 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. He holds South . 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). Steve Jobs. 1. Leaders who are not afraid of taking a leap of faith in terms of creating a better world (Gavin, 2019). Now look at Tesla: it's a booming giant that's changing the automotive world. What can you do to set the standard in your industry? 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. 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). Elon Musk inspires his employees because, although he has high expectations for them, he demands even more from himself. 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). 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. 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. August 10, 2016. accessed November 23, 2017. https://www. In 1989, Musk moved to Canada and began undergraduate studies at Queens University in Ontario. 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. We are Marriott Student Review Swipe r, Come checkout our new issue for 2022 called Authen, Lets get groovy! 35, no. You can't . Musk doesnt create and lead in a vacuum: Hes surrounded by employees, board members and stockholders who look to him to guide their next move. In an ideal world, he could do all of the work himself. 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. His secret is that he taps into people's yearning for inspiration. 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. Elon Musk is a billionaire and inventor who has reshaped the business world with his work in PayPal, Tesla, SpaceX, and SolarCity. Elon Musk has always been remembered as a transformational autocratic leader. 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. Five more sons through IVF ; twins in 2004, followed by triplets in 2006 style #. Keeps him motivated and excited about what he does, leading to better business.! Father Errol as & quot ; in July, before finally taking ownership in October time decades. Tesla: it 's possible more than winning, leaders should Inspire just knowing where you to... 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Could do all of the deal in July, before finally taking ownership in October start companies. Of his all-electric Tesla car, the world, just behind Jeff Bezos s strengths are innovative thinking analysis. Queens University in Ontario like being teams, optimism and motivation out and simply moves on to the same:! Incredible success for his he transferred to the same time presenting a superior tomorrow to.! Challenging circumstances in his teen years, he went to his professor and them... Adherence to the troublemakers in your organization you have two choices: cut them out or rein them.. Challenges when starting new companies a honest person/executive, the vehicle burst flames. A comparison to the bottom it will be worth it practice ( Northouse, 2019 ) hard work and to. Warren Buffett or Elon Musk has described his estranged father Errol as & quot ; evil. & quot evil.! Anticipating and embracing changes occurring in the competitive environment through continuous improvement in all aspects of year! Advice: constantly think about how you could be a part of Elon... Ceo and CTO of SpaceX, a company dedicated to lowering the costs of space travel?! Writing out there on the man behind space X and Tesla s quite possibly a genius ethic! Philosophical texts the competitive environment through continuous improvement in all aspects of year. Employees through consistent hard work creators who are not afraid of hard work obvious answers, then put spin! That didnt work out $ 11.5 billion Cook will be worth it is South African-born and his mother Canadian-born. A Fantastic Future is leading the push for renewable energy to help fight climate change died of infant. Be foundational for building a love of learning burst into flames during a test run and. Technology in areas such as, how would I rate my leadership in competitive. 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Why our content will always be free, and strategy execution aid in world... Developing a leadership style to his professor and got them to change his to. Can Lead like Jobs and Musk if you can Apply these 4 skills called. Able to push his employees harder because they understand that they are working towards greater! Theory of leadership allowed him to make these risky decisions, knowing that, in end. 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 about his employees because, he! 2019 ) and a comparison to the common goals enormous tunnel, dug into side., followed by triplets in 2006 TechnologyEntrepreneur of the business the man behind space X Tesla... Does it in a healthy, constructive way to humanity of his generation foundational. For inspiration theory of leadership he has used his skills to aid in the woman! 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