16 Larry Kim, 50 Innovation and Success Quotes from SpaceX Founder Elon Musk. Inc.com. How do we make California transit more convenient? There are occasions when Musk's employees or those working with him find him hard to work with. . 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. With Musk, he seeks to add quality to society while at the same time presenting a superior tomorrow to humanity. These five traits together create what is presumably a great leader (Gavin, 2019). Elon Musk's Leadership Style: The Top 3 Leadership Qualities of the man behind Tesla, SpaceX, and Paypal 1. 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. 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). His entrepreneurial mentality helps him overcome his challenges when starting new companies. He is also the CEO of Tesla Motors, the SpaceX Corporation, and SolarCity. 3. The fast-talking 'Suits' attorney has a lot to say about what it takes to succeed in business and life. https://www.britannica.com/biography/Elon-Musk. He hires brilliant and talented individuals that can design and develop his products. If we can overcome the initial fear of being told "no" and understand that no truly means nothing, we'll be better for it. . Musk, 46, has a worth of more than $20 billion and has said he is using his personal asset to build his new visions. But is it really a commercial proposition? 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 Score: 10 out of 10 (highest in the batch) Md. 2023 Leaderonomics Sdn. A railroad. 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. His speeches are marked with . Originally published Because "no" meant nothing. Their first son, Nevada Alexander Musk, died at the age of 10 weeks. His secret is that he taps into people's yearning for inspiration. Elon Musk is one of the most innovative and driven entrepreneurs of our time. 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. 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. 11 Duane Ireland, and Michael A. Hitt, Mission Statements: Importance, Challenge, and Recommendations for Development, Business Horizons, vol. Now many of you will read this and think: Why? 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. NTB/Carina Johansen via Reuters. When It Comes to Investing, Do You Think Like Warren Buffett or Elon Musk? His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. Leadership: Theory and Practice. When a leader exhibits these qualities, it creates a sense of trust and authenticity in followers. Warren Buffett. Yet, while his unique personality and boundless creativity have led to incredible success for his. We can also absentmindedly rattle off a stream of adjectives that describe him and his leadership qualities: innovator, leader, genius, visionary, futurist, entrepreneur. They push people out, spiral out of control, or end up underperforming dramatically. As a child, Musk had a passion for science fiction books and movies. 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. How often does something small in scale pull your attention away, making you less productive and less effective? You can save thousands of dollars, for a limited time. Musk was born in South Africa to an engineer and dietician. Read our privacy policy for more information. And it can be a force for good for example providing data and advice during the COVID-19 pandemic or helping to highlight the failings of politicians or the media even with the unpleasantness and abuse that seem to be an unavoidable part of tweeting. This article is published by the editors of Leaderonomics.com with the consent of the guest author. In this segment were looking atElon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. They push people out, spiral out of control, or end up underperforming dramatically. Management at many different companies underestimate the importance of developing a mission statement. He displays all of the four key positive psychological attributes discussed in the Northouse (2019) text. After Ashley Vances book, this is the best piece of writing out there on the man behind Space X and Tesla. 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. 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). But can we describe why the SpaceX CEO is the way he is? Because sometimes, more than winning, leaders should inspire. We are Marriott Student Review Swipe r, Come checkout our new issue for 2022 called Authen, Lets get groovy! Musk has a preternatural ability to see past the current trends and statuses to see what could be. He values feedback, both good and bad, as it helps him refine his ideas and execution. Authentic leadership has three components to its definition that I believe Elon Musk meets criteria for. Musk, 50, has an uncanny ability to get consumers, investors, and employees behind his mission, three leadership sources said. 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. 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. Give the obvious answers, then put your spin on those answers and pursue them with tenacity. Be obsessed and obsessive. 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. Nominate him or her for our award by visiting here. Know an entrepreneur that embodies these values? What skill does he have that we can implement in our own leadership style? 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. Why that would be exactly what I, and millions of other young men, would do if we had the moolah to throw around. What is your vision? Big ideas always come from small thinking. 2. It is influential and powerful. What can you do to set the standard in your industry? 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. 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. Promoting life-long learning among a companys employees is essential to maintaining its competitive edge. His vision is so strong and compelling that he inspires other like-minded capable individuals to join his companies and work towards those goals. 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. 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. You can't . 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. Has potential to influence by contributing something to the world that improves it in a new and different way and creates a social impact. 35, no. Here's how to do the latter, like a boss. This mindset helps him stay motivated and excited about what is next. 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. The influential dynamic that Elon Musk has communicated and collaborated with through social media platforms has contributed to the collective value increase of Tesla. Interesting business experiences from the past. We can rattle off Elon Musk's accomplishments in our sleep: co-founder of monetary giant PayPal; founder of Tesla Motors, the electric car company that is changing the world; and founder of Space X, which is focused on space exploration and space travel, and has even sent NASA to the International Space Station on his spacecraft. Your email address will not be published. Naturally, a good leader needs to foster that courage by encouraging innovation over instant results. Another factor that helps Musk get into and remain in the flow state has to do with the quality of work he's doing. At age 12, he wrote a computer program to calculate trajectories for rockets. SpaceXs experimental rockets frequently make the news for launch failures. After arriving in Canada, Musk managed to make his way traveling between distant relatives he had never met, performing odd jobs, and working on local farms. 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