Who Will Win? Learn More Every Day with This 2023 CES-Honored Knowledge App. Works on Ground Level. He is the CEO and CTO of SPACEX, CEO of tesla motors, and chairman of solar-city. Tesla Motors has a significant emphasis on producing environmentally friendly cars (Cole, 2021). Heres part 1. He also agreed that only paid subscribers should be able to vote on future Twitter policy changes. 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. Learn to say no.. Had he been afraid of failure, two of the most recognizable companies in the United States may no longer exist. 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. Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. 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. How often are you distracted? Think of your own work-life and the way you go about your day-to-day tasks. will no doubt profoundly impact our world. Someone who has reached goals youre still working on can give you real-life, actionable tips to becoming a better leader. What can you do to set the standard in your industry? 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. His solar company is cash-flow positive. China's birth rate declines for first time in decades. Elon Musk's current net worth is a whopping $152 Billion. In 1989, Musk moved to Canada and began undergraduate studies at Queens University in Ontario. Businesses cant replicate Musks lifetime of experience in their employees. Musk generally influences people in his organization as well as outside world by using great communication skills. He wants to die on Mars. Write an article and join a growing community of more than 160,400 academics and researchers from 4,572 institutions. All he focused on was the task at hand. Yet, while his unique personality and boundless creativity have led to incredible success for his. His first marriage was to Canadian author Justine Wilson in 2000. He is a true visionary who can see the road to the future. 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. By any measure, Elon Musk is exceptionally successful. . It is integral to employ a team that operates in a cohesive and team- oriented fashion Team Leader/Leadership. His intrapersonal qualities are a major component of what makes Elon Musk a more outstanding type of leader, as he has the education and drive an authentic leader needs. He views these as experiments that didnt work out and simply moves on to the next step. Elon Musk. An electric railroad that goes through an enormous tunnel, dug into the side of a mountain. Many people would consider Musk to be the most innovative entrepreneur of our time. For example, one recent scholarly study conducted by Andrew Cooper indicates that a learning culture positively impacts organizational performance.3. 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. 1. Know an entrepreneur that embodies these values? During these times, he didn't think about anything else. (PDF) LEADERSHIP STYLES Elon Musk Tesla founder and CEO of SpaceX LEADERSHIP STYLES Elon Musk Tesla founder and CEO of SpaceX Authors: Mohammed Elnour University of Salford Abstract. Now many of you will read this and think: Why? Musk is a perfect case study for someone whose work ethic is fueled by his passion. A railroad. 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. How often does something small in scale pull your attention away, making you less productive and less effective? 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. 1. Hes on a mission to save humanity. One employee said "If Elon was not happy, you knew it. 15 Sunny Bonnell, Every Entrepreneur Can Learn From These 5 Leadership Traits of Elon Musk. Entrepreneur. Many of Musk's grand ideas come from small questions. Since youre here, wed like to ask you to consider donating to the maintenance and upkeep of our site, which as it turns out is pretty expensive. In the modern capitalistic world where the top executives stay away from places like factories. How can you schedule your day so you can complete one task, then move to the next, effectively, excitedly, and purposefully? The nimble start-up, OpenAI, has taken on tech behemoth Google in a fight for the spot as AI's top dog. However you feel about Elon Musk, some things are irrefutable: Hes extremely successful, is endlessly innovative and acts as a case study for creative leadership. 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 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. Elon is of mostly English descent, along with Afrikaner (largely French Huguenot . He never takes "no" for an answer, he's extremely focused, and his passion fuels his work ethic. Why is Elon Musk so scared of Artificial Intelligence? I dont believe that to be the case with Musk. 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. All rights reserved. Musk paid US$44 billion to buy it, perhaps twice what it was worth. Elon Musk is a business mogul, engineer and inventor, best known for founding and leading SpaceX (a company that aims to lower the costs of building rockets with the ultimate goal of multi-planetary colonization by humans) and Tesla Motors (a company that produces electric cars). But can we. 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. Companies looking to gain a competitive edge should invest in their human capital by creating an office culture conducive to developing quality managers. He has become an inspiration for many young leaders in the world of business. 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. The reason that we feel Elon Musk is an outstanding example of the entrepreneurial spirit is his ability to overcoming disappointment. He faced failure and strife, but he maintained his optimism and was able to continue on through his resilience (Northouse, 2019; Cole, 2021). 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. Demonstrates perseverance in the face of adversity and to overcoming obstacles. As part of this initiative, were taking a closer look at the people and leaders who we feel embody the values that our award is based upon. as well as other partner offers and accept our. When asked which particular work touched him, his response is equally as unique as himself: comic science-fiction novel, The Hitchhikers Guide to the Galaxy. 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? How do we make California transit more convenient? Empowering Trust Humility Visionary Delegation Innovative Positive Inquisitive Problem Solving Initiative for action Nuturing & Empathetic Active listening Patience Gratitude Strategic & Focussed Decision making Resilience Comittment Good communication Influence Transparency Respect 8 Simon Sinek. He is also the CEO of Tesla Motors, the SpaceX Corporation, and SolarCity. Give the obvious answers, then put your spin on those answers and pursue them with tenacity. Now many of you will read this and think: Why? 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. His vision is so strong and compelling that he inspires other like-minded capable individuals to join his companies and work towards those goals. Business Insights Blog. Tesla CEO Elon Musk, who's originally from South Africa, has perfected the art of remaining focused. 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. Purpose: To learn and understand the qualities of Elon Musk as a leader that make him so successful. If being willful, and opinionated, yet adaptable are key traits to great leaders. This essay will include a description of Elon's leadership qualities and a comparison to the trait theory of Leadership. Related: 61 Books Elon Musk Thinks You Should Read. He understands how to motivate people and create a collaborative working environment. 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). This flow state is only achieved when the person can perform undistracted by other, less-significant tasks. Even if it was for 2%. Their first son, Nevada Alexander Musk, died at the age of 10 weeks. He possesses illustrious leadership qualities, skills, and styles, some of which are being discussed here. His father is South African-born and his mother is Canadian-born, from Regina, Saskatchewan, and also has American antecedents. Leadership: Theory and Practice. Elon Musk may be Time's person of the year, but fintech executives should not follow his cavalier communication style. By So, if Twitter wants to find a new CEO, what sort of person should the troubled social media platform be looking for? As of 2020, he lives in Los Angeles, California. 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. Elon Musk, one of the most creative leaders of our time, is widely seen as a visionary. Musk was born on June 28, 1971, making him 48-years-old at the time of publication. This article is published by the editors of Leaderonomics.com with the consent of the guest author. How Elon Musk and Tim Cook Will be Remembered in Business History. So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. You must really like us. Creates a culture of innovation. An electric railroad. Having cofounded and sold PayPal, he quickly moved on to launching a range of ventures with world-changing aspirations for how we generate . Later, he said, advice I would give is to not blindly follow trends. Copyright 2023 Entrepreneur Media, Inc. All rights reserved. He is the son of Maye Musk (Haldeman), a model and dietitian, and Errol Musk, an engineer. In this segment we're looking at Elon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. The Musk way. Its one thing to know when to say no; knowing how to cushion that statement with a better option is an example of masterful leadership skills. Apparently, the billionaire had been the highest bidder for a Lotus Esprit from the James Bond film, The Spy Who Loved Me.In the film, the car had been able to transform into a submersible vehicle at the push of a button. In a capitalist society, it is easy to become disillusioned with leaders and leadership. 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