"Any great leader is rough" — When Shark Tank's Barbara Corcoran claimed Elon Musk's leadership style set Tesla apart

In a January 10, 2020 interview with Yahoo Finance, Shark Tank investor Barbara Corcoran opined on Tesla CEO Elon Musk's leadership style following a mention of the stock performance of the company. When asked about Tesla's stock rise and Musk's role in making it happen, Corcoran highlighted that his strategy was responsible for the success of the company, saying:

"Any great leader is rough, any great leader has a strong opinion and isn't so smooth on the edges."

She stressed that an assertive, opinionated leadership style is crucial for companies that intend to "reinvent" industries. By crediting Tesla's success to Musk's leadership, the Shark Tank investor highlighted the effect of his decision-making on the competitive position of the company.

---

Shark Tank Barbara Corcoran on Elon Musk: How leadership style shapes Tesla’s success

Leadership and market competition

Barbara Corcoran highlighted that Tesla’s competitors, including established automakers, struggle to match the company's innovations. She explained that traditional industry leaders often fail to introduce groundbreaking changes at the pace Tesla does.

"The old guy never creates a new trick, and they never catch up," Corcoran stated.

The Shark Tank investor also posited that Musk's leadership allows Tesla to stay ahead of the competition in the electric vehicle market. She clarified that businesses require visionary leaders who are willing to take risks to bring revolutionary advancements.

Corcoran highlighted that Tesla's capability to establish new industry standards and redefine market expectations makes it challenging for its competitors to match its success or keep pace with technology.

---

Stock performance and business challenges

Tesla's share had risen by about 100% over three months at the time of the interview, and the analysts were debating whether the share was overpriced. Others said a correction in the market could happen, but Corcoran was certain of the firm's long-term prospects.

Responding to issues regarding Tesla's financial condition, she added that volatility has been a part of the company's history.

"From the beginning, that's been a bumpy road all along the way with setbacks and bumps," she explained.

Barbara acknowledged financial challenges, including Tesla's past losses and production uncertainties, but maintained that the company’s core strength lay in its product. The Shark Tank investor suggested that Tesla’s ability to deliver a desirable product would sustain its success despite market fluctuations.

---

Tesla’s brand and consumer loyalty

Beyond stock performance, Corcoran also highlighted Tesla’s strong consumer base and brand loyalty. She described her own experience with the company’s product as a key factor in her confidence.

"All you have to do is get a Tesla or borrow and drive around, and you are sold," she stated.

The Shark Tank investor suggested that Tesla’s appeal extended beyond financial performance, reinforcing the idea that customer satisfaction played a crucial role in its success.

"You just have to go buy yourself a Tesla, you'll never say another word against Tesla in your life," she added.

She insisted that Tesla motorists tend to turn into supporters of the brand, leading to its sustained growth. Corcoran went on to claim that this kind of customer passion helps Tesla remain at the forefront of electric vehicle manufacturers.

---

Tune in to Shark Tank on ABC Fridays at 8 PM ET, or catch up anytime on Hulu.