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A healthy ego can be an entrepreneur’s best friend. But when vanity intrudes, all the puzzle pieces start to come apart.
The terms “ego” and “vanity” tend to be misunderstood. The ego represents your sense of self. The ego is concerned about what you think of you. (That’s not a typo.) Vanity brings the outside world into the mix. When you ask, “What do other people think of me?” — that’s your vanity talking.
It’s perfectly reasonable for entrepreneurs to lead with ego. The ego sets up your expectations for yourself, after all. When you’re pursuing dreams and self-actualization, you’re leveraging your ego. However, when you’re only motivated by inauthentic external goals like prestige, status and influence, your attention is diverted from what really matters.
I once worked with a founder who became distracted by vanity. He was a member of our organization and involved in the sales training industry. Specifically, he focused on social selling, a niche that relies on social media platforms to reach prospects and win new sales.
When LinkedIn first hit the scene, he became somewhat of a celebrity and garnered thousands of followers. His posts were liked, shared and commented on. He was popular, as quantified by LinkedIn, and the so-called “vanity metrics” gave him a false sense of accomplishment. Why false? Though he appeared successful to everyone else, a deep dive into his profit and loss sheet revealed he was barely making ends meet.
Did he become discouraged when he realized his vanity had let him down? Of course. Yet, this entrepreneur was one of those rare people who could face his failings. He said to himself, “I’m not happy. I’m working very hard, but I’m not making real money. Who cares if the mob thinks I’m cool? I need to build a real business and support my family.” Essentially, his ego rescued him — and he’s now more centered and... Read More
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