5 Successful CEOs and Their Key Traits That Every Leader Should Follow

Posted on Posted in 2016 Business Opportunities For You, Positivity, What's Trending Now

 

When you’re talking about visionary and successful leaders, Elon Musk and Alan Mullaly instantly comes to mind. It is believed that these leaders that people admire are smarter, luckier or more creative, but the traits that make them wildly successful can be honed over time.

These characteristics have dictated how these leaders have responded in the face of adversity, maximized available resources and made the decisions that set them apart. Here are five exemplary CEOs and the traits entrepreneurs can hone to duplicate their success.

 

1. Elon Musk: Relentless innovation

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Elon Musk, CEO of SpaceX and Tesla Motors, has revolutionized entire industries with his focus on moving beyond the status quo.

Both companies faced bankruptcy in 2008, and Musk was forced to decide between allocating his remaining funds between the companies or focusing on one. He felt compelled to support both ventures, and the risk paid off. Tesla is trumping Ford and General Motors with gross profit margins well over 20 percent, while SpaceX was one of two companies chosen by NASA to develop the next generation of systems to take U.S. astronauts to the International Space Station.

“If things are not failing,” Musk says, “you are not innovating enough.”

 

2. Nick Woodman: Focus

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GoPro CEO Nick Woodman’s idea was born from a personal problem: not being able to take great pictures and videos while surfing. After months of intense focus, a prototype was born. Woodman is now focused on building a bigger platform to allow GoPro users to easily share videos.

Founded 12 years ago, GoPro has made Woodman worth $1.3 billion. The company name is almost synonymous with the product category, like Xerox once was with copying.

 

3. Alan Mulally: Resilience

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As Ford Motor Company’s former president and CEO, Alan Mulally is behind “one of the most impressive corporate turnarounds in history.” Mulally guided Ford out of billions in losses and avoided bankruptcy without government bailouts. His focus on teamwork and accountability created a new company culture that drove results and focused on positive leadership with a vision toward moving forward.

 

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4. Shantanu Narayen: Adaptability

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Businesses that become stagnant usually die. Adobe Systems CEO Shantanu Narayen looked down the road and didn’t see a future that included distributing software on physical discs. He decided to change the widely-used Adobe Creative Suite to a subscription-based model.

He wasn’t the first, as Netflix had added streaming to its DVD rental services. But Adobe’s graphic design empire was built on its box sets and annual releases of new versions. Narayen boldly changed his company’s distribution model, and the growth in subscription members has proven its success.

 

5. Philip Krim: Reimagining

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Casper CEO Philip Krim, along with his co-founders, has completely reimagined the process of buying a bed. From the price to the delivery — the mattresses are shipped compressed in reasonably sized boxes — this startup has thought through the entire process, including a 100-day trial period.

The company, which launched in April, raised more than $15 million in funding and earned more than $1 million in revenue in its first month of business. Krim’s success proves that innovation isn’t only for high-tech industries.

 

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