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. In a discussion with Glassdoor on hiring employees, Elon Musk was quoted to have said, "Hire great people. The Musk way. Mission statements provide a sense of focus and direction among employees. With Musk, he seeks to add quality to society while at the same time presenting a superior tomorrow to humanity. Wow, you scrolled all the way to the bottom! Together with his brother, he founded Zip2 which was an online directory for businesses. The company was sold to eBay in 2002 and netted Musk US$180 million in the process. Elon Musk is most known for founding Tesla, a company that builds electric cars with high demand and high prices, and SpaceX. 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. Today, Musks hard-earned lesson to remain optimistic enables him to see a bright future in industries doomed by his critics to failure. Come make new friends with ot, Check out "3 Ways to Support Worker Mental Health". Related: Elon Musk Responds to a Request From a Tweeter Who Sent Him the Same Message 154 Times. Throughout his career, he has made decisions and moves that align with this vision and help take him closer to achieving them. How do we make California transit more convenient? 2023 Leaderonomics Sdn. Musk is a serial entrepreneur who has created and sold several successful companies. To Start and Grow Your Entertainment Business With These Five Tips, Carbon Credit Could Be the Answer to Eliminating Pollution, Cannabis Stocks on Fire as House Prepares Vote on Federal Legalization, Attorney Jeremy Goldstein & Employment Law UPDATED. Fortunately, his mothers Canadian citizenship enabled him to obtain a Canadian passport and a one-way flight to Montreal. 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. So find a smallidea. Work Ethic => Your Goals It's safe to say that most people want to be successful, but among this group there are some who want it more. Later, he said, advice I would give is to not blindly follow trends. He possesses illustrious leadership qualities, skills, and styles, some of which are being discussed here. Elon Musk is the billionaire entrepreneur and business magnate responsible for co-founding the cutting-edge companies PayPal, Tesla, and SpaceX, amongst others. Bill Gates. 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. When Musk is brave with his decisions, his team is empowered with the same courage. 4. Musk is a perfect case study for someone whose work ethic is fueled by his passion. 1. Why? Unfortunately, he died of sudden infant death syndrome. . And Musk fits that bill perfectly. Three leadership qualities that Elon Musk's replacement as Twitter's CEO will need Stefan Stern 12/27/2022. I believe that he really cares about contributing to society and bringing the human race forward to a better tomorrow.After all, this is the man who allowed other automobile manufacturers to freely make use of Teslas valuable battery technology. While the post was prestigious and offered the benefits of extreme power at the highest level, recognizing that the job no longer aligned with Musks mission for sustainability and care for the environment meant that it was diametrically opposed to his objectives. His first marriage was to Canadian author Justine Wilson in 2000. It also motivates him to start new companies, even if they initially need to work out. They push people out, spiral out of control, or end up underperforming dramatically. Elon Musk does not have those qualities. Heres part 1. You see, the 2% that separated Muskfrom his current score and perfection sounded to him like a giant "no." 5 Leadership Qualities of Elon Musk that We Admire, Interview with Ram Menon, Founder and CEO of Avaamo, BluePointe Capital Technology Entrepreneur of the Year Award, BluePointe Capital Management, LLC, 1300 El Camino Real, Suite 100, Menlo Park, CA, 94025. Elon Musk's leadership style is transformational since it focuses on innovation and achieving large scale goals. 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. Opinions expressed are those of the author. The values that our award is based upon are as follows: Entrepreneurial Spirit Passion for Innovation Positive Energy Strategic Direction Personal Integrity/Influence Entrepreneurial Spirit We define entrepreneurial spirit as the following: Recognizes business imperative of anticipating and embracing changes occurring in the competitive environment through continuous improvement in all aspects of the business. 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. Leaders Eat Last (New York: Portfolio/Penguin, 2014). To understand his strategic direction to build huge companies . An authentic leader creates better relationships with colleagues, creates higher levels of trust, increased productivity, and a more positive working environment (Gavin, 2019). His predictability allows him to make these risky decisions, knowing that, in the end, it will be worth it. I believe Musk's exceptional ability to healthfully maintain his intensity comes because of his flow state mindset, his passion for his work, and his absolute focus. How often does something small in scale pull your attention away, making you less productive and less effective? He also agreed that only paid subscribers should be able to vote on future Twitter policy changes. 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. Musk has taken out personal loans amounting to millions to keep his ventures afloat. https://www.biography.com/business-figure/elon-musk. This merged with Confinity to become Paypal. While he has garnered enormous respect due to his transformational leadership, he still exhibits autocratic leadership traits. Is New Business Creation Still Setting Records? In Musk's version of optimism, he does everything possible to ensure that things work out for the best instead of relying on hope. From a turbulent childhood in South Africa, to the forefront of global entrepreneurship and innovation, Elon Musk is attempting to lead the world to a better tomorrow. For better or worse, here are five things weve learned about leadership from Elon Musk. The new leader will have to confront the brutal facts of the situation according to management expert Jim Collins, this is how to begin productive change. The basic aim of the study is to find out to what extent the patterns of leadership tactics match with Musk's leadership in Tesla motors. From time to time, take the time to reflect on your own performance as a leader. The truth is, if we are passionate or find passion in the work we're doing, work stops feeling like work. accessed November 11, 2017. https://www.inc.com/larry-kim/50-innovation-amp;-successquotes-from-spacex-founder-elon-musk.html. "AI stresses me out," Musk said near the end of a more than three-hour presentation to Tesla investors about company plans. I'll talk about them here. Let your vision guide you In his teen years, Musk spent a significant amount of time pouring over religious and philosophical texts. Creates and turns vision into business realities. He really gives his all to what he does.This certainly cant be easy considering the failures his companies have faced. 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). Give the obvious answers, then put your spin on those answers and pursue them with tenacity. 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. 1. How often are you distracted? As a leader, having a vision and communicating it to your team can make a big difference in the success of your organization. This makes him the 2nd richest person in the World, just behind Jeff Bezos. 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? Internalized moral perspective is describes an internal understanding of ones morals and living by those in everyday leadership practice (Northouse, 2019). For leadership profiles of other famous business leaders, including Steve Jobs, Oprah Winfrey, and Warren Buffett, check out our Business Leadership Profiles section. Just like other visionaries before him such as Steve Jobs, Mark Zuckerberg and Larry Page, Musk is changing the world through following his passion, pursuing his big dreams, having laser-like focus on advancing technology to help humanity. He holds South . Great Resignation Climate Change Leadership Inflation Ukraine Invasion . The truth is, if we are passionate - or find passion - in the work we're doing, work stops feeling like work. Errol Musk was once tried and acquitted of manslaughter. Musk is a longtime CEO who has never been afraid of risk. 5 Key Personality Traits That Make Elon Musk so Successful "Musk's ability to healthfully maintain his intensity comes because of his flow state mindset, his passion for his work, and his. Musk, 46, has a worth of more than $20 billion and has said he is using his personal asset to build his new visions. He received a 98% on one of his tests. As a child, Musk became interested in computer programming and taught himself to code. Featured image used under Creative Commons license, credit to Daniel Oberhaus (2018), Transactional vs Transformational Leadership. https://online.hbs.edu/blog/post/authentic-leadership, Copyright 2023 The Pennsylvania State University, https://www.biography.com/business-figure/elon-musk, https://psu.instructure.com/courses/2137573/modules/items/32271438, https://online.hbs.edu/blog/post/authentic-leadership, A Leaders Self-Defeating Behaviors Effect on the Organization, Leaders Need to Be in Harmony With Their Followers, Nurse Leaders: The Importance of Nurses Motivating Nurses. 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. He attended private schools and had a tough time as he was severely bullied by his peers. I understand that the data I am submitting will be used to provide me with the above-described products and/or services and communications in connection therewith. 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