Your ego essentially defines your sense of self-importance, and it can pose significant risks. In this episode, let’s dive into the details of how ego has the potential to divert many firm owners from their goals.
Listen below.
0:38 You likely began your firm for both financial freedom and increased time for personal pursuits. However, many firm owners don’t attain these goals, sometimes due to their ego.
1:04 Sometimes, decisions based on personal satisfaction or importance may not align with cost-benefit analysis, potentially resulting in more costs than revenues.
1:45 Among firm owners, I observe a willingness to volunteer their time to create and deliver presentations to fellow accountants, facilitated by various accounting brands and apps.
2:09 I approach every business decision with a pragmatic cost-benefit analysis, considering alignment with my goals rather than ego satisfaction.
2:41 I’m thrilled to be considered important enough to speak on stage and share my knowledge with an audience. However, upon reflection, the opportunity cost of accepting such gigs is often not justified.
3:27 Social media can be detrimental to your ego. Gaining followers, likes, and engagement can be quite addictive and counter-productive.
3:50 Lastly, beware of third-party vendors attempting to exploit your time or money, leveraging the power of ego.
