There’s a truth I learned the hard way many years ago, and one I still have to remind myself of today: When ego enters the business, it will usually cost a fortune. Either in additional expenses, in lost opportunities, in losses or often in all of these.
Last time in this newsletter, I called out business owners for being the primary reason their businesses were underperforming. And yes, I had several people unsubscribe.
I get it. Nobody loves being called out. Nobody wants to hear that their poor results might be self-inflicted.
But sometimes we need that tough love to wake us from our slumber and realize this fundamental truth: You are capable of far grander results, but only if you get out of your own way.
My Million Dollar Ego Lesson
Let me take you back to my limousine service business in Denmark. We were determined to be the best limousine service in the country, and truthfully, we achieved that reputation. We were known for quality, service, and impeccable attention to detail.
But my ego? It was busy making very expensive decisions.
When we purchased our top-end Mercedes-Benz limousines, I didn’t just go for the extended wheelbase. I packed them with every upgrade imaginable. Premium leather, advanced sound systems, night-vision, entertainment systems, you name it.
The harsh reality? These extras didn’t allow me to charge additional premium rates. My clients barely noticed the difference. To the market, my ultra-premium vehicles were simply “nice Mercedes,” no different from my competitors’ far more affordable, more standard-equipped versions.
My vehicles cost significantly more to purchase, yet clients equated them with basic short-wheelbase models with smaller engines. The profit margins told the real story.
The Rolls-Royce Disaster
My ego wasn’t finished yet.
I once flew to the UK and, in a single day, bought four Rolls-Royces for my fleet.
Why? Because our brand was the best in Denmark, and since Rolls-Royce has always branded itself as “the best car in the world,” my ego whispered: “If we’re the best, we must have the best cars.”
Here’s what actually happened: Almost nobody wanted to ride in them.
Our primary clientele were corporate executives and dignitaries who required discrete professionalism, not flashy luxury. They needed vehicles that projected business competence, not wealth. A subtle black Mercedes was perfect. A head-turning Rolls-Royce? Too ostentatious for their needs.
Those Rolls-Royces looked impressive on paper but were a terrible business decision in practice.
When Egos Collide: The Partnership Story
Ego doesn’t just cost you money – it can cost you relationships.
Years ago, I was in a business partnership where I was the sole investor, and the CEO ran the daily operations. Both of us were classic alpha males: Driven, ambitious, confident… and yes, bringing big egos to the table.
Day-to-day, the business ran well. But when it came to strategic discussions about expansion or new opportunities, our egos would collide.
- We both wanted our vision to take the lead.
- We both felt our way was the right way.
- Instead of collaborating openly, conversations could get tense — sometimes even combative.
The business itself didn’t fail because of it, but the relationship did take damage. We spent too much time defending our positions instead of working together to create the absolute best outcomes.
And truthfully… that relationship is still bruised to this day.
Egos in business partnerships may not break the business overnight, but they always leave a mark – sometimes one that never fully heals.
The True Cost of Ego
This period taught me an expensive but invaluable lesson: Ego-driven decisions are rarely profit-driven decisions.
And ego doesn’t just sabotage business choices. It infiltrates every aspect of our operations:
In business, ego makes you overspend on things that don’t move the needle, prevents you from seeking crucial advice, and blinds you to market realities because you “already know better.”
In relationships (both professional and personal), ego has cost me dearly. It creates unnecessary conflicts, prevents genuine connection, and often destroys partnerships that could have been mutually beneficial.
I’m grateful I’ve improved over the years, but I still catch myself needing this reminder.
The Pattern I See Everywhere
This isn’t just my story. I encounter this same challenge with virtually every entrepreneur and business owner I meet.
Ego convinces us that the rules don’t apply to us, that our situation is unique, that we don’t need to follow proven strategies because we’re different.
The result? Expensive mistakes that could have been avoided with a little humility and market awareness.
Your Ego Reality Check
If you want to ensure your ego isn’t quietly sabotaging your success, ask yourself these questions:
Am I making this decision to impress someone, or to genuinely improve the business?
Would I make the same choice if nobody else could see it?
Am I resisting advice because it’s genuinely wrong, or because my ego doesn’t like being told what to do?
Are my expenses driven by what the market demands, or what I think looks impressive?
Answer honestly. Your bottom line depends on it.
The Liberation of Humility
Here’s the beautiful part: When you strip ego out of your decision-making process, something remarkable happens.
Your business runs leaner, stronger, and more profitably. You make decisions based on data rather than self-image. You listen to your market instead of your pride.
In your personal life, you’ll discover more peace, stronger relationships, and far fewer self-inflicted wounds.
Why I Share This
I don’t share this story to shame anyone, but to wake you up the same way I’ve had to wake myself up countless times.
We all have the capacity for extraordinary results. But first, we must have the courage to examine whether our ego is the primary obstacle standing in our way.
Sometimes the most profitable decision is also the most humble one.
Remember this: Ego might make you feel successful, but humility will actually make you successful.
Until next time, stay focused, stay humble, and get out of your own way.
What ego-driven decision has cost you the most in your business? Hit reply and share your story. Sometimes admitting our mistakes is the first step to avoiding them in the future.
