ABSTRACT
Lots of leaders think they are magnetic, when in fact they are anything but. This chapter discusses seven traits that are common among magnetic leaders, as well as examples of people who personify these qualities: authenticity, selflessness, strong communication, charisma, transparency, vision and resilience. A common theme among the magnetic leaders is their willingness to be open about their failures. Inspiration is a key part of innovation. Magnetic leaders put customers first and encourage their people to do the same. Market leadership status is something that must be earned. Leadership helps shape culture, and culture in turn shapes leadership. According to the study, a critical mass of excellent leaders is needed to trigger and sustain corporate growth. Both drive performance, including revenues and profitability. Outstanding leadership teams are highly correlated with revenue growth, while solid but unexceptional leadership is not correlated with growth at all.
