Greed or Ego…How Much of Both Should Drive Your Business Decisions?

Greed or Ego…How Much of Both Should Drive Your Business Decisions?

Every day we get mixed messages. We are taught that greed is not a virtue, and we all know that Wall Street’s Gordon Gecko went overboard when he said greed is good. On the other hand, big egos, like Donald Trump’s have helped him become rich and famous.

Given a choice, a business owner is better suited to have more greed than ego. Why? Usually, in business, greed creates better results and subsequently, more wealth. Greed enables one to make decisions that are more rational. While ego-based decisions, do cause owners to create legacy and donate money, the consequences can also lead to irrational and possibly dysfunctional behavior. For example, if Gordon Gecko didn’t always need to be right, he would have achieved more of his goals. While there are no absolutes, it’s probably better to have more greed over ego.

In simple terms, isn’t it better to be smart than to be right?

How balanced is your greed and ego? Are they proportionate? Would you and your business be more successful if you emphasized greed over ego?

 Photo: Wall Street subway mosaic – Michael Daddino Flickr (CC BY 2.0)