Your Ego is your sense of self. According to Freud, your ego helps mediate between your Id (your inner desires) and your superego (your conscience).
If you have a business, it makes sense that your ego, your sense of yourself, your self-identity are attached to the business. When your business does well, you do well. When your business does poorly, you do poorly. And vice versa.
If you don’t have a business, your ego can be attached to your job, your career. There’s a similar dynamic happens.
This isn’t necessarily a bad thing but it’s something important to take into consideration. If your career, your business, your work product is tied to your self-identity, how can you make rational and reasonable business decisions about those things?
It is important to be proud of your accomplishments. That comes with the territory of being a High Performer. That’s one of the biggest benefits! But there’s a danger when your pride becomes your identity, and your identity is attached to your cash flow. A cash flow you should be emotionally detached from so you can make rational business decisions.
Everyone has an ego and it is okay to have a strong sense of your self-identity. The relationship between your ego and your work product goes awry when it distorts reality.
If you have a business, ask yourself these questions on a regular basis to maintain some form of identity detachment:
If you are “irreplaceable” or the identical company is unaffordable, then you may have your ego distorting how you view your business.