Jun 21, 2022 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. While there are lots of impressive leaders, few touch his superhero scale. 17 Shawn Achor, The Happiness Advantage: The Seven Principles That Fuel Success and Performance at Work (London: Virgin, 2011). And Tesla Motors has remained unprofitable for more than a decade.But thanks to his unwavering belief in the long-term importance of these projects, investors and the general public have remained supportive. 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. 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 . City, University of London provides funding as a founding partner of The Conversation UK. You can save thousands of dollars, for a limited time. Inspires others to keep up with the pace of change instead of staying with a day-late idea. 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. Or Elon Musk announcing his company's latest innovation in automobile production. It is not a platform like Facebook or Instagram that can deliver billions of users to potential advertisers. Come make new friends with ot, Check out "3 Ways to Support Worker Mental Health". By clicking Sign up, you agree to receive marketing emails from Insider 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. Working 120-hour weeks doesn't leverage your unique qualities, it wastes them. 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 has become an inspiration for many young leaders in the world of business. 8 Simon Sinek. In Simon Sineks book Leaders Eat Last, he details a less commonly acknowledged, yet equally important, aspect of leading from the front. Many do not have access to the resources needed to bring out their full leadership potential. When it comes to the troublemakers in your organization you have two choices: cut them out or rein them in. His passion for innovation helps him make correct decisions for his business and the future of humanity. Unwilling to support apartheid through military service, Musk moved from South Africa to the United States (Cole, 2021). He then takes each answer to the question and attempts to flesh it out in the best possible way. Eighty-hour work weeks don't feel like work weeks, because our passion is fueling us. When considering Elon Musk under the lens of authentic leadership, it is clear he has the necessary leadership traits. 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. He possesses illustrious leadership qualities, skills, and styles, some of which are being discussed here. Opinions expressed by Entrepreneur contributors are their own. 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). 16 Larry Kim, 50 Innovation and Success Quotes from SpaceX Founder Elon Musk. Inc.com. After lengthy development of a new model of his all-electric Tesla car, the vehicle burst into flames during a test run. Musk is a perfect case study for someone whose work ethic is fueled by his passion. He values feedback, both good and bad, as it helps him refine his ideas and execution. Stay laser focused and don't procrastinate. 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. All he focused on was the task at hand. With Musk, he seeks to add quality to society while at the same time presenting a superior tomorrow to humanity. 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. 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. 2017 BluePointe Capital Management, LLC. It is influential and powerful. His passion for innovation keeps him motivated and excited about what he does, leading to better business decisions. Musk is obviously intense. Mr Musk. What Elon Musk has . Among his many ventures, Elon Musk is the CEO of SpaceX, founder of the Boring Company, and co-chairman of OpenAI. Businesses can't replicate Musk's lifetime of experience in their employees. 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. Why is Elon Musk so scared of Artificial Intelligence? However, businesses can breed leadership qualities (such as those exemplified by Musk) in their employees by (1) developing a learning culture, (2) leading from the front, (3) abiding by a mission statement, and (4) fostering positivity in the workplace. This personality trait of Elon Musk resembles with Jeff Bezos traits, the founder of Amazon. 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. 3 (May/June 1992). The billionaire talked about his early days in Dallas when he was strapped for cash. 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. Had he been afraid of failure, two of the most recognizable companies in the United States may no longer exist. Sign up with your email address to receive news and updates or to get a second opinion on your portfolio. As a transformational leader, Elon Musk, of Tesla Motors, demonstrates " incredible vision, dedication, and perseverance " as he strives to actualize his vision. 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. Musk generally influences people in his organization as well as outside world by using great communication skills. One course of action many successful companies have implemented to create a learning culture is to give financial assistance to its employees to further their education.4 Educational benefits are becoming increasingly important as more millennials enter the workplace. Give the obvious answers, then put your spin on those answers and pursue them with tenacity. After a closer look, researcher Michael Porter discovered a shockingly dismal success rate when companies acquire other firms outside of their original scope.14. Over the years, he has been compared to the likes of Steve Jobs and Henry Ford, and even Iron Man, with actor Robert Downey Jr allegedly modelling his portrayal of Tony Stark off of the SpaceX and Tesla CEO. His father is South African-born and his mother is Canadian-born, from Regina, Saskatchewan, and also has American antecedents. as well as other partner offers and accept our. Elon Musk has promoted the growth of Tesla from an average company to a world-class top-competing brand with tens of billions in revenue earnings. 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. Watch this TED Talk interview with Elon Musk: Wait But Why did anamazingseries on Elon Musk. Top editors give you the stories you want delivered right to your inbox each weekday. 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. The Ugly: At SpaceX Elon quickly gained a reputation as a staunch leader. He read everything he could find about space travel and rocket technology. 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. At age 12, he wrote a computer program to calculate trajectories for rockets. 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 How often does something small in scale pull your attention away, making you less productive and less effective? He views these as experiments that didnt work out and simply moves on to the next step. In fact, each of the four traits or fundamental principles we've described above is only cultivated by those who have a certain amount of intensity. Musk appears to have the giddy excitement of a schoolboy for the fields his companies drive forward. Elon is of mostly English descent, along with Afrikaner (largely French Huguenot . If we can overcome the initial fear of being told "no" and understand that no truly means nothing, we'll be better for it. We'd, Thanks for all the support! Inspiring leaders set the example for their employees through consistent hard work and adherence to the companys core values.7. When It Comes to Investing, Do You Think Like Warren Buffett or Elon Musk? As of October 2016, his estimated net worth is US$11.5 billion. This kind of thinking makes many companies mediocre. 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. Confidence and independence. His contributions in the fields of aerospace and sustainable energy (among others!) 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. 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. They have a strong sense of themselves and what they stand for (Northouse, 2019). 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? 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. The truth is, if we are passionate or find passion in the work we're doing, work stops feeling like work. He wasn't distracted by other, tedious tasks. 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. Musks innate sense of curiosity stems largely from the unusual amount of independence he experienced as a child. His interpersonal qualities hold a lot of weight in Musks life as he is very active with new startup companies such as cryptocurrencies, Twitter, his appearance on SNL, and overall presence in news and tabloids connecting him to his followers. We can also absentmindedly rattle off a stream of adjectives that describe him and his leadership qualities: innovator, leader, genius, visionary, futurist, entrepreneur. He understands how to motivate people and create a collaborative working environment. Fowler explains, I know that Im not just having an impact on my son, Im potentially having an impact on my sons best friends mother.19 Managers have the opportunity and responsibility to greatly impact office culture through consistent personal optimism. Knowledge Management for Logistics Service Providers: The Role of Learning Culture.Industrial Management & Data Systems116, no. Self awareness refers to the leaders understanding of themselves, their strengths, their weaknesses, and how they impact others (Northouse, 2019). May 31, 2021. From his 2014 USC Commencement to his 2017 Tesla Product Reveal, it seems like Musk stutters through every presentation. He also had a hand in conceptualizing and financing SolarCity, which is now the second largest solar power systems provider in the United States. Elon Musk may be Time's person of the year, but fintech executives should not follow his cavalier communication style. Elon Musk was born on June 28th, 1971 in South Africa, where he grew up with his father after his parents divorced in 1980. From time to time, take the time to reflect on your own performance as a leader. 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. Mentors are invaluable when it comes to developing a leadership style. Northouse, P. G. (2018). (2021, April 7). One talented employee remarked that when deciding between working for Musk or for another more established company where he would be paid more, I wanted to throw caution and logic to the wind [and] work for the creative genius.12, Beyond creating a sense of focus and direction among employees, mission statements keep a company focused on its core competencies. 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