CEOs
The right attitude in entrepreneurial ventures sets the course for a successful personality (Jena, 2020). This is true, especially for entrepreneurial personalities who are setting the pace in the world with their innovative attitude. The critical contributing factor to Elon Musk’s success is making the most significant decisions carefully. This is observed in each entrepreneurial venture that Elon Musk engaged in. This is seen in his decision to drop out of a merger with CitySearch and later sale to Compaq. Being intuitive and careful has brought him success in each of his endeavors, including balancing his work-life with family-life. As for Matt Blumberg, his entrepreneur’s success is derived from his openness. His openness has contributed to his numerous discoveries and also in creating the best Human resource in the country (Kidder, 2012: 53). His thoughtfulness and deliberation that arise from his graciousness in sharing his ideas enable him to succeed in several fields, which are also useful in his business of building companies.
On the other hand, Kevin Ryan has mastered the art of taking a calculated risk. This spurred him to be involved in startup companies that allowed him to spread his risks since he did not have a single revenue channel. This has made him more determined in pursuing his ideas and working for himself in such a way that he could not have attained had he remained in DoubleClick(Kidder, 2012: 316).Reid Hoffman’s success story span around the attitude of being customer-oriented. His focus while starting LinkedIn was to address what users would look for in a networking app. He thereby used this attitude to predict the behavior that users would form while accessing LinkedIn that the company growth curved raised higher due to it. It was after putting customer satisfaction at the forefront that Hoffman addressed the generation of revenue. It was Hoffman’s attitude of being concerned about the consumers first that led him to the discovery of the exceptional valuable marketplace that everybody had criticized. Lastly, the entrepreneur’s personal success of Robin Chase is attributed to her entrepreneurial intelligence. Robin states that she knows all the aspects of the business she is based in. She has an in-depth comprehension of the business that allows her to holistically analyze the market and fix the demand that exists within it (Kidder, 2012). When her co-founder came up with the idea for Zipcar, she chipped into it because she had an extensive and multidisciplinary set of interests.
Lead companies that are market leaders
The CEOs mentioned above lead companies that are market leaders in various industries. Elon Musk is the CEO of Tesla that has been profitable electric car manufacture in the world. The contributing factor to this successful company is attributed to Elon Musk’s market development strategy, which is to prioritize the overall market over the short-term revenue. Elon Musk aims to ensure that there is a rapid shift to electrification in the automobile industry. This has pushed him to share his innovation with his competitors like Toyota and Daimler, and this drive has made Tesla one of the successful electric car manufacture along with Elon Musk focusing on product design of the company. Likewise, Matt Blumberg’s Return Path Company’s success story is based on Matt’s capacity to accept mergers and acquisitions. Matt has driven his company to 9 successful acquisitions, two divestitures, and a spin-out. This has helped the company to grow over the years and prevent it from being closed down during the tough times. Kevin Ryan led AlleyCorp Company with the successful venture being Gilt. The contributing factor for the success of Gilt is the attitude of Ryan to force people to make fast decisions. This he does by ensuring that his workforce is rapid in decision making even if it does not have sufficient information. Now several companies are adopting this type of schedule around their sales. The contributing factor to LinkedIn success is in Reid Hoffman’s initiative of building a company with a real competitive differentiation and being early to the market. Reid executed his plan when his idea was still not apparent in the market, and his competitive differentiation was ten times greater. LinkedIn owes its success to these aspects. Lastly, Zipcar that is led by Robin Chase, attributes its success to Robin’s rigorous intellectual analysis and also the brand of the company making the right emotional appeal to the market.
In my case, I can apply the attitude that these CEOs employ in running a successful business. Being careful in a big decision is crucial in beginning startup and investing. This is especially needed for prudent navigation of the industry. Taking risks in any business should also be calculated to avoid losses and downfalls. Being open to new ideas, customer-oriented, and intelligent are all needed entrepreneurial skills that I can associate within my own company. This will ensure that the right leadership, culture, and business practice is attained for the company. Therefore, I would apply these factors to my career. Elon Musk moved from Zip2, Paypal to Tesla, SpaceX, and SolarCity. The strategy that he has adopted to navigate from one company to another has proven useful since he has earned success in each venture, and he has also experienced steady upward growth.
References
Jena, R. K. (2020). Measuring the impact of Business Management Attitude towards Entrepreneurship Education on Entrepreneurial Intention: A Case Study. Computers in Human Behavior, 106275.
Kidder, D. S. (2012). The Startup playbook: Secrets of the fastest-growing startups from their founding entrepreneurs. Chronicle Books.
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