Mission statements provide a sense of focus and direction among employees. Cant think of someone who would be a great mentor? 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. In this segment were looking atElon Musk, the creator of brands such as PayPal, SpaceX, and Tesla. An authentic leadership aims to make authenticity paramount. Internalized moral perspective is describes an internal understanding of ones morals and living by those in everyday leadership practice (Northouse, 2019). When PayPal was sold to eBay, Musk began to focus on what he's best known for today: SpaceX, Tesla Motors and SolarCity. Related: 61 Books Elon Musk Thinks You Should Read. Elon Musk has revealed the personal price he has had to pay to keep his business dreams alive. Builds and rebuilds the teams commitment to the common goals. To understand his strategic direction to build huge companies . He faced failure and strife, but he maintained his optimism and was able to continue on through his resilience (Northouse, 2019; Cole, 2021). How often does something small in scale pull your attention away, making you less productive and less effective? How Elon Musk and Tim Cook Will be Remembered in Business History. Elon Musk has married thrice and twice to the same woman. 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. His vision is so strong and compelling that he inspires other like-minded capable individuals to join his companies and work towards those goals. Many do not have access to the resources needed to bring out their full leadership potential. In Simon Sineks book Leaders Eat Last, he details a less commonly acknowledged, yet equally important, aspect of leading from the front. Today, Musks hard-earned lesson to remain optimistic enables him to see a bright future in industries doomed by his critics to failure. Top editors give you the stories you want delivered right to your inbox each weekday. So the new CEO will need to be confident, perhaps even arrogant, and ready to stand their ground. Trait #3: Glass Half Full Mentality. He dreams about stuff that no one else would . This flow state is only achieved when the person can perform undistracted by other, less significant tasks. As he has made, sold and ran a bevy of successful companies, its clear that he utilizes a very specific type of leadership to keep the train of innovation chugging. Musk is the. How can you and your organization make a positive difference in the world? It also sets a good example for others to follow. It certainly wouldn't be that way without Mr. Musk's unblinking focus at the forefront. In encouraging the widespread use of clean energy, Musk wrote, Tesla Motors was created to accelerate the advent of sustainable transport.If we clear a path to the creation of compelling electric vehicles, but then lay intellectual property landmines behind us to inhibit others, we are acting in a manner contrary to that goal. 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. Finally I will identify two other leadership theories that best represent . NOW WATCH: Elon Musk says Tesla owners could make up to $30,000 a year turning their cars into 'robotaxis'. By any measure, Elon Musk is exceptionally successful. 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. Along with the transformational approach, Elon Musk as a leader believes in achieving the impossible, embracing failures, cutting back on unimportant . Musk summarizes his emotional response to being bullied as a child, If you get up in the morning and think the future is going to be better, it is a bright day. We can also absentmindedly rattle off a stream of adjectives that describe him and his leadership qualities: innovator, leader, genius, visionary, futurist, entrepreneur. From an early age, Elon Musk learned not to be afraid of hard work. Indeed, Musks reaction to finally getting his hands on Twitter has been reminiscent of Christmas morning, when children rip open presents, display initial excitement and then quickly lose interest. He holds South . The Bad: While SpaceX was in full startup mode, Elon's first son, Nevada, was born. A great leader must have a vision and it is not about just knowing where you are but also where you want to be. But can we describe why Musk is the way he is? 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. City, University of London provides funding as a founding partner of The Conversation UK. Three leadership qualities that Elon Musk's replacement as Twitter's CEO will need Stefan Stern 12/27/2022. Knowledge Management for Logistics Service Providers: The Role of Learning Culture.Industrial Management & Data Systems116, no. Authentic leadership has three components to its definition that I believe Elon Musk meets criteria for. So find a small idea. Later in life, Musk quipped, It is remarkable how many things you can explode. His secret is that he taps into people's yearning for inspiration. You have two choices in life - to see the world as a pessimist, or . The initial question is always small, then the answers grow progressively bigger. Do you have a strong belief in it? Creates and turns vision into business realities. Whats remarkable about Musk is that he never lets it stop him from fighting through and progressing. A railroad. As a student of leadership, I can see three key requirements for anyone considering - or being considered for - this role right now: 1. 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. 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. 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. His first marriage was to Canadian author Justine Wilson in 2000. Oprah Winfrey. Opinions expressed are those of the author. Demonstrates perseverance in the face of adversity and to overcoming obstacles. Give the obvious answers, then put your spin on those answers and pursue them with tenacity. 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. His contributions in the fields of aerospace and sustainable energy (among others!) An electric railroad. 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 billionaire talked about his early days in Dallas when he was strapped for cash. 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. However, Musk does it in a healthy, constructive way. 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). 1. 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. accessed November 11, 2017. https://www.inc.com/larry-kim/50-innovation-amp;-successquotes-from-spacex-founder-elon-musk.html. The nimble start-up, OpenAI, has taken on tech behemoth Google in a fight for the spot as AI's top dog. 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. 19 Nicholas A. Christakis, and James H. Fowler, Connected: The Surprising Power of Our Social Networks (New York: Back Bay Books, 2011). 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. Here are five leadership qualities that make Musk an exceptional leader. But he could now face interest payments to lenders of up to US$1 billion a year unless Twitters financial health can be turned around. Since his parents were divorced when he was only nine years old, Elon and his younger brother Kimbal were left much of the time to explore the world on their own. Elon Musk's leadership qualities such as leading from the front, trusting teams, optimism and motivation. He is the CEO and CTO of SPACEX, CEO of tesla motors, and chairman of solar-city. Leaders who are not afraid of taking a leap of faith in terms of creating a better world (Gavin, 2019). They have a strong sense of themselves and what they stand for (Northouse, 2019). From time to time, take the time to reflect on your own performance as a leader. What can you do to set the standard in your industry? He is considered a visionary business leader who is advancing technology in areas such as space exploration and sustainable energy. 17 Shawn Achor, The Happiness Advantage: The Seven Principles That Fuel Success and Performance at Work (London: Virgin, 2011). Musk changes his mind frequently sometimes within hours, as we saw recently when he appeared to walk back a policy change regarding users ability to link to other social media accounts. You Can Lead Like Jobs and Musk If You Can Apply These 4 Skills. Musk is a perfect case study for someone whose work ethic is fueled by his passion. . Relies on trusted individuals while showing ability to be an independent thinker and take risks in the face of uncertainty. 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. 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. Elon Musk's current net worth is a whopping $152 Billion. 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. 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