Innovation alone is not enough

One of the great myths that Digital Transformation has brought is the importance of innovation for the success of a company. Although it is true that innovation does have an important weight in determining which companies are successful at this time, we cannot ignore other pillars of business management in order to seek the song of innovative sirens as the only value proposition, InventHelpas a button much admired in the time shows: Elon Musk.

The multiple South African businessman has a well-earned reputation as an innovator as the founder of Tesla Motors, InventHelp Inventions Space X and Hyper-loop, thereby innovating the world of transportation; in fact, InventHelp Patent  I use it as an example of the Fifth Wave of Transformation and innovation in my conference to achieve the Model X of exponential growth.    However, his personality has caused his companies to enter some crises, and investors and the market have doubts and misgivings InventHelp Innovation about the viability and follow-up of his projects.

In a profile published, they noted how a leading analyst reminded Musk that in the business world “being a super-innovative InventHelp Technology is not enough” to have credibility with creditors, investors, consumers and the market in general. And that credibility is gained, they mention, when it is shown that one is capable of executing the plan. After seeing how this issue has developed, I have some feelings that I want to share with you.

1. Power intoxicates.

Elon Musk has managed his companies in a totally valid way, although perhaps not well seen by analysts: InventHelp Inventors he maintains tight control of them and is not willing to let go, and the example is clear in Tesla. At the electric car maker, InventHelp Idea although Musk has only 22% of the company’s capital, the management structure is designed in such a way that any initiative needs his approval to succeed.

According to the company, this supermajority scheme is necessary for Musk to carry out his mission and protect Tesla from hostile purchasing operations. And while all of that may be true, InventHelp Invention Ideas in practice superpower is intoxicating and can make the CEO feel untouchable or with the ability to ‘get away with it’ when the reality is otherwise.

2. Image does matter

The fact that Elon Musk is the main face of Tesla, makes the perception of him confused with the perception of the company, therefore, the importance of regulating the behavior of the founder is capital. Especially when he has become something of a media rock star and enjoys making controversial and inflammatory statements or showcasing his relationship with British singer Grimes. In this case, one of the traditional maxims that seem appropriate to rescue is that of sobriety when managing a company.

Anyone who knows me knows that I do not mean to change the essence of who we are, but to understand that as CEO, we are usually the face of a company and that can seriously affect the valuation of the company. Maybe yes, and Elon Musk seems to have already realized this, it is convenient to calm down a bit, leave some distance with social networks, and focus more on the day-to-day of the company.

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