Business Photo Slideshows

Egonomics

Dave Marcum and Steve Smith spent five years researching the impact of ego on companies’ bottom lines, and compiled their findings in the book Egonomics. Their main conclusion? While ego is essential to success, it can backfire when taken to an extreme. Here, they share with us their exclusive assessments of the ego strengths and weaknesses of executives and leaders from Richard Branson to Steve Jobs.

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Richard Branson

“Don’t mistake big ambition and charisma for bad ego. Branson displays an intense, insatiable curiosity and enough humility to put customers first and his employees on an equal playing field. But when he gets too focused on the competition, his genuine confidence turns to bravado and contributes to a negative (and inaccurate) image people may have of him.”

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Donald Trump

“The Donald is a maniacal self-promoter, but put him on almost any team in any organization and his colleagues will resent him, ignore him, or sabotage his efforts. He would get to experience the line ‘You’re fired’ faster than you could lose $100 at one of his casinos.”

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Martha Stewart

“Martha’s personal brilliance, marketability, and ego drive have carried the day for her. Her abrasive, egotistical personal style in the way she leads and works with other people will keep her company no better than it is (which may be good enough for her). Egotistical leaders rarely build anything that lasts beyond them, and history shows it’s likely Martha’s star will fade once she leaves the scene.”

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Steve Jobs

“His ego drove him to build Apple. Not bad—but it also got him kicked out. Not until life delivered ‘awful-tasting medicine’ did Jobs learn the humility that not only helped him keep his best people by inspiring—rather than intimidating—them, but ignited a new generation of technology (iPod, iTunes, iPhone, PowerMac) that, by his own admission, wasn’t possible without it.”

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Warren Buffett

“Buffett once said he invested in a particular company because its executives ‘stick with what they understand and let their abilities, not their egos, determine what they attempt.’ That is the essence of Buffett’s own success as well.”

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Michael Bloomberg

“Driven, ambitious, and smart, Bloomberg revolutionized an industry with his ideas. But here’s the caution: If you confuse your identity with your ideas, then you begin to believe you were the reason for success. In the past, he’s walked a fine line between these two, which can be dangerous. Success is rarely one person’s doing.”

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