1 Ashlee Vance, Elon Musk, Man of Tomorrow. Bloomberg Businessweek no. He then takes each answer to the question and attempts to flesh it out in the best possible way. Great Resignation Climate Change Leadership Inflation Ukraine Invasion . 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. Authentic Leadership: What It Is & Why Its Important | HBS Online. So find a smallidea. He is the co-founder of PayPal, CEO and CTO of SpaceX, and CEO and product architect at Tesla Motors (Cole, 2021). And can we not only quantify those things that make Musk so successful, but also begin to embody themin our own lives? Elon Musk is most known for founding Tesla, a company that builds electric cars with high demand and high prices, and SpaceX. 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$mcj = jQuery.noConflict(true); Your email address will not be published. They push people out, spiral out of control, or end up underperforming dramatically. He has borrowed huge sums and sold large tranches of Tesla stock to help fund the acquisition. Has potential to influence by contributing something to the world that improves it in a new and different way and creates a social impact. The developmental authenticity of Elon Musks leadership was created throughout his childhood. You have two choices in life - to see the world as a pessimist, or . This kind of thinking makes many companies mediocre. Elon Musk is widely admired for visible entrepreneurship. Musk is a perfect case study for someone whose work ethic is fueled by his passion. His speeches are marked with . These are the brutal facts a new leader must confront. But he wouldn't take no for an answer. Sign up for notifications from Insider! Great post! Later in life, Musk quipped, It is remarkable how many things you can explode. This is a BETA experience. Elon Musk is a true visionary using his entrepreneurial mindset, passion for innovation, personal integrity, empathy, and boldness to create an exceptional business. accessed November 23, 2017. http://fortune.com/2016/03/04/ companies-employees-tuition-reimbursement/. Having cofounded and sold PayPal, he quickly moved on to launching a range of ventures with world-changing aspirations for how we generate . Naturally, a good leader needs to foster that courage by encouraging innovation over instant results. 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. In his teen years, Musk spent a significant amount of time pouring over religious and philosophical texts. 2. Elon Musk does not have those qualities. Elon Musk was born on June 28th, 1971 in South Africa, where he grew up with his father after his parents divorced in 1980. Its long, but well worth the read! This event makes him a charismatic leader. The 49-year-old Elon Musk is someone who has countless achievements under his belt. Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. All he focused on was the task at hand. 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. His leadership qualities are helping shape a new way of thinking about sustainable energy and renewable resources. An electric railroad that goes through an enormous tunnel, dug into the side of a mountain. 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.". Inspiring leaders set the example for their employees through consistent hard work and adherence to the companys core values.7. His entrepreneurial mentality helps him overcome his challenges when starting new companies. Twitter is a resounding practical success. Let your vision guide you You can't . 17 Shawn Achor, The Happiness Advantage: The Seven Principles That Fuel Success and Performance at Work (London: Virgin, 2011). While there are lots of impressive leaders, few touch his superhero scale. What's the point of doing that? Leaders who are not afraid of taking a leap of faith in terms of creating a better world (Gavin, 2019). Yet, while his unique personality and boundless creativity have led to incredible success for his. Co-founder, PayPal. This mightbe a little bit more difficult to do, but I think it's possible. He attended private schools and had a tough time as he was severely bullied by his peers. Even though Musk no longer performs menial labor, his work ethic remains second to none. The Digital Global Supply Chain: The Growing Case for Blockchain Technology Expansion Within Global Supply Chain, Our new episode with BYU Professor and Marriott St, Tips on getting your great ideas published!! entrepreneur.com/article/279971. He understands the many challenges but is not afraid to take them on. In 2018, Musk tweeted, Creating a rocket company has to be one of the dumbest and hardest ways to make money. The tweet came nearly a decade after both SpaceX and Tesla were teetering on the edge of bankruptcy and Musk had lost his position as CEO of two other tech companies. Musk is a natural leader who cares about his employees. 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. NTB/Carina Johansen via Reuters. 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 dreams about stuff that no one else would Indeed, many prominent advertisers left the site apparently in response to Musks chaotic decision making. Learn More Every Day with This 2023 CES-Honored Knowledge App. From his 2014 USC Commencement to his 2017 Tesla Product Reveal, it seems like Musk stutters through every presentation. The nimble start-up, OpenAI, has taken on tech behemoth Google in a fight for the spot as AI's top dog. Chatham: Newstex, 2015. https://search-proquest-com.erl.lib.byu.edu/docview/1652311317?accountid=4488. What more noble cause is there? 8th Edition. But any replacement will need to be able to steer Twitter back to calmer waters, with Musk remaining majority owner. 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. Elon Musk is famously a workaholic - he boasts of working 120-hour weeks to keep production of the Tesla Model 3 on track - but since we met he seems to have been enjoying himself. All of his qualities and traits cannot be described in words. But he wouldn't take no for an answer. Sheryl Sandberg. 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. By any measure, Elon Musk is exceptionally successful. Musk takes a scientific approach to building teams, one that is based upon an understanding of their behavior and talent, and he leads them through action. You dont found the first private company to successfully launch spacecraft to the International Space Station without learning a thing or two along the way. What can you do to set the standard in your industry? Mentors are invaluable when it comes to developing a leadership style. Many of Musk's grand ideas come from small questions. Elon Musk. Working 120-hour weeks doesn't leverage your unique qualities, it wastes them. Now many of you will read this and think: Why? I would have been happy with a 98%. Musk has responded that hell step down when he finds someone foolish enough to take over as CEO, saying he will run the software and server teams instead. Even though he had complete control of his company, he gave his employees the motivation to accomplish their targets and tasks through his characteristics. Further, Musk has been selling billions in Tesla stock and its share price is down by over 60% this year. Give the obvious answers, then put your spin on those answers and pursue them with tenacity. Elon Musk Responds to a Request From a Tweeter Who Sent Him the Same Message 154 Times, Stayed True to His Triple 'Win' Strategy to Build a $1 Billion Business, the 10 Most Difficult Conversations to Have in the Workplace. Why is Elon Musk so scared of Artificial Intelligence? Why? Randy Garn Elon Musk joins the ranks of Steve Jobs and Jeff Bezos for many when considering the 21st century's most influential CEOs, and like the respective founders of Apple and Amazon, is often cited as having a "transformational leadership" style. Works on Ground Level. 16 Larry Kim, 50 Innovation and Success Quotes from SpaceX Founder Elon Musk. Inc.com. In Musk's version of optimism, he does everything possible to ensure that things work out for the best instead of relying on hope. Eventually he went on to study at Stanford and began to pursue his technology legacy (Cole, 2021). Later, he said, advice I would give is to not blindly follow trends. 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 . Opinions expressed by Entrepreneur contributors are their own. Stay laser focused and don't procrastinate. Tesla balance. This could be a part of why Elon Musk has been so successful. His other ventures include Hyperloop (his design for a high-speed transportation system that would drastically reduce travel times) and OpenAI (a non-for-profit research company dedicated to artificial intelligence). 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. As of October 2016, his estimated net worth is US$11.5 billion. The initial question is always small, then the answers grow progressively bigger. A railroad. The truth is, if we are passionate or find passion in the work we're doing, work stops feeling like work. Jun 21, 2022 Unfortunately, he died of sudden infant death syndrome. 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 revealed the personal price he has had to pay to keep his business dreams alive. Unwilling to support apartheid through military service, Musk moved from South Africa to the United States (Cole, 2021). Elon Musk's leadership style is transformational since it focuses on innovation and achieving large scale goals. 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. Warren Buffett. But is it really a commercial proposition? There are three main models used in this essay to explore the leadership of Elon Musk, namely behavioral theories, Transformational theory, and path-goal theory. So what are the most important characteristics of a good leader? His vision is so strong and compelling that he inspires other like-minded capable individuals to join his companies and work towards those goals. Had he been afraid of failure, two of the most recognizable companies in the United States may no longer exist. Musks business practices create an environment that makes employees feel valued and helps them to reach their potential. Confidence and independence A new Twitter CEO will want. How many opportunities are lost because of our fear of asking? In fact, there was a time during Tesla's infancy where a specific problem needed solving, so Musk would sleep under his desk and work 75-hour weeks until that problem was solved. Musk generally influences people in his organization as well as outside world by using great communication skills. Researcher Fred David found that 59 percent of the Chief Executive Officers of Business Weeks top 1,000 firms run companies that do not havemissionstatements.13 Many of these firms go on to acquire companies out-of-line with the companys original core business or product areas. He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. Cole, R. (2021, June 24). Musk has described his estranged father Errol as "evil.". There, he earned two degrees a Bachelor of Science in physics from the UPenn College of Arts and Sciences, and a Bachelor of Science in economics from the Wharton School of Business. One employee said "If Elon was not happy, you knew it. Musk has remained true to his vision for the future throughout his career. 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. Elon Musk is a terrible public speaker. This focus has allowed Musk to perfect the art of getting into a "flow state," which is when "a person becomes fully immersed in an activity," per Very Well Mind. Being a perfectionist, he went to his professor and got them to change his score to a 100%. An electric railroad. Musk has perfected the art of remaining focused. 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). In the end, he got his way. 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. Errol Musk was once tried and acquitted of manslaughter. Be obsessed and obsessive. Musks innate sense of curiosity stems largely from the unusual amount of independence he experienced as a child. Read our privacy policy for more information. Elon Musk Biography. Tesla CEO Elon Musk, who's originally from South Africa, has perfected the art of remaining focused. Pennsylvania State University World Campus. Being a perfectionist, he went to his professor and got them to change his score to a 100%. May 31, 2021. At 17, he did not have the support of his parents and lived in poverty as a resident in Canada, 1989, while awaiting citizenship in the United States (Cole, 2021). 6 Authentic Ways to Inspire Other People When Youre Not Great With Words. Because sometimes, more than winning, leaders should inspire. Promoting life-long learning among a companys employees is essential to maintaining its competitive edge. How Elon Musk and Tim Cook Will be Remembered in Business History. ChatGPT vs. Bard: A Modern Day David and Goliath Story. By age 14, he was designing rockets with paper and pencil. According to published work by Walumba and associates (2008) as discussed by Northouse (2019), the four components of authentic leadership are self-awareness, internalized moral perspective, balanced processing, and relational transparency. He was also a man with a wonderful vision. . When It Comes to Investing, Do You Think Like Warren Buffett or Elon Musk? How often does something small in scale pull your attention away, making you less productive and less effective? Musk is not afraid of failure and sees it as an organic part of any creation process. 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. Mr Musk. 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. An electric railroad that goes through an enormous tunnel, dug into the side of a mountain. 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. He has used his skills to aid in the design of electric cars and even spaceships. 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. City, University of London provides funding as a founding partner of The Conversation UK. Authentic leadership has three components to its definition that I believe Elon Musk meets criteria for. China's birth rate declines for first time in decades. ), Musk has been working to solve these growing problems for more than a decade.To paraphrase an amusing analogy I recently came across: While most industry leaders have been playing checkers, Musk has been playing StarCraft.But more than having a vision, leaders should clearly communicate that vision to their followers. If we can overcome the initial fear of being told "no" and understand that no truly means nothing, we'll be better for it. The initial question is always small, then the answers grow progressively bigger. Errol shot and killed . This flow state is only achieved when the person can perform undistracted by other, less-significant tasks. 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. Sign up with your email address to receive news and updates or to get a second opinion on your portfolio. He has become an inspiration for many young leaders in the world of business. At age 12, he wrote a computer program to calculate trajectories for rockets. To learn more about the leadership workshops and keynotes I conduct at events and corporations around the globe, click here: https://jamieturner.live/To down. 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