A longtime client of mine recently shared a story with me that I found quite enlightening.
He was meeting with a good-sized company that was a prospect to lease one of his properties. The deal had stalled because the company was owned by a sole proprietor who needed investors to help fund the cost of the prospective move and build-out of the new space at my client’s building. Usually the investors placing the venture capital receive some percentage of ownership in exchange for the money invested. In this case, the company owner was balking at giving up any share of the ownership of her business. Everybody was urging her to reconsider, because without the funding she wouldn’t be able to do this deal which promised to help her expand her business to new heights.
One of the players involved said that she was letting her ego get in the way. Another person put it more succinctly: “Your ego is not your amigo.” They laughed and asked who came up with that great quote. He said he didn’t know: “I read it painted on the side of a building years ago on some mean streets in Mexico.” They all laughed again and began sharing their own stories about times when their ego had led them astray.
I’m sure we all can relate. Unfortunately I can remember too many times in my own life when my ego convinced me that I was capable of going it alone and led me to reject help that I really needed. I hear this a lot from employees who say their boss isn’t good at delegating. The boss wants all the control and isn’t willing to relinquish any responsibilities to their capable employees, even when doing so would improve productivity and help the whole group be more efficient.
Much like the owner in the first story, these kinds of managers should put their egos aside and allow others to share in the project. Yes, this means relinquishing some control. However, it also means spreading out the risk and responsibility. It makes room for other perspectives and input, which could ultimately help make the project better. Putting aside your ego is much easier said than done. Two things will help you with this process: remember that your ego is not your amigo, and focus on the bigger picture for your project and/or business. If you really want them to soar, sometimes you have to swallow your pride and let other people in.
Have a great weekend,
Ro