Tuesday, May 18, 2010

Hubris Will Kill You

There’s a new competitor in town, so I did an analysis of their strengths and weaknesses and gave my report to the CEO I was working with.  In our meeting I told him that the new entrant is better than his company in one key competency.  I suggested that we meet with them to see if we could find a way to work together.  It would be better to be their friend than their arch rival. 

I must have hit a soft spot because the CEO blew up at me, proclaiming that I was underestimating his abilities.  Note that he said his abilities.  He was taking it personally.  He didn’t want to work with them because he thought they would overshadow his firm.  This competitor will take market share away from the CEO I was talking to.  I have no doubt about that.  Getting angry is not a smart strategic move. 

Know that you have weaknesses.  Identify them and embrace them.  Otherwise you will fight battles you are bound to lose.            

No comments: