One definition of an entrepreneur – How to balance ego and humility.
The definition of an entrepreneur depends on who you talk to. And so does being a leader. But regardless of the definition, there are two things that entrepreneurs must have – ego and humility. Successful entrepreneurs understand that you need a healthy dose of both. Even though the dominance of one can often mean the downfall of a really great idea or team or vision. The definition of an entrepreneur is someone who knows the right mix of both. We are here to answer a few questions including:
- Why does an entrepreneur need ego?
- Why does an entrepreneur need humility?
- What is the right combination of ego and humility?
We entrepreneurs are always looking for tips and insights and advice. However, at our core we must be able to bring to the table our ego and our humility and create the right balance of both to be a great entrepreneur and leader. As we all know, the entrepreneur’s mindset is as important as anything and understanding the right balance of ego and humility can make the difference.
The Role of Ego In Being an Entrepreneur
Every entrepreneur believes what we are doing is unique. And in many (in fact most) cases, it is not only that we are doing something unique, but that we are bringing to life a new business model, idea or vision. To have the vision to bring something new to the table, you need to to have a level of self-confidence and self esteem that can transcend what you are likely to face. In fact, the more visionary your idea is, the more ego you need to see it through.
Imagine the level of self-confidence and belief visionaries like Bill Gates or Elon Musk or Steve Jobs needed to see their vision through. Remember, it is not just convincing a market that you and your new idea has merit. It’s also facing all of the naysayers that believe that if something has not been done before, there is a reason for that.
Take investors. The critical analysis that many investors bring to the table will tell you that your idea does not have merit. In fact, you may have two meetings with investors an hour apart – and in one meeting the investor will say your idea is too different and in the second they will say that it is not different enough.