New Book Provides Warnings to Investors in Early Stage Companies
Tuesday, June 12, 2018 5:35 PM
Death by Ego: What We Can Learn from Entrepreneurs Who Kill Their Companies with Hubris
IRVINE, CA / ACCESSWIRE / June 12, 2018 / ProtoMet Media and DMC Companies announce the publication of a new book which focuses on lessons to be learned from entrepreneurially driven companies that have failed to meet their potential due to hubris. The book defines hubris as "a character trait that causes an individual to believe and act as if his or her beliefs are totally, absolutely and uniquely correct for given situations or for on-going activities." The book includes four lessons that we can learn from the 11 true stories of failed companies. It also includes two contrasting chapters on extraordinary executives (Jerre Stead and Howard Matthews) who have led their companies to great success without displaying this flaw. For more information on the book and its author see: www.deathbyego.net
Here are summaries of the lessons learned that are described more fully in the book.
"I know what's best, so the law doesn't matter."
There are four chapters that describe situations where the entrepreneurs broke the law.
"Minority interests do not matter … at all …
(except in the beginning, of course")
In five chapters, the entrepreneurs demonstrated total disregard for minority interests.
"Don't question me, I have super powers in negotiation, among many others."
One chapter describes a situation where an entrepreneur negotiated what was described in his terms as "the most incredible discount in the history of computer purchasing." Unearned discounts later cost the company its headquarters building. In another chapter, the founder believed he was the only one that could meet with customers and potential customers and denigrated his senor staff on a regular basis.
"I have a great product for a particular market, but it can do so much more."
This thinking often causes the entrepreneur to lose focus on his or her initial great idea and dilute efforts to the eventual failure of the company.
The book is available on Amazon: https://www.amazon.com/gp/offer-listing/0982538510
SOURCE: DMC Companies