Stop Wasting Time & Money On Your Ego

This Week’s Focus Point

Spaceship Capital – the ‘up and coming’ superannuation fund was meant to shake up the Australian super industry; targeting tech-savvy younger workers with its one core belief: Invest where the world is going (read: tech). Since 2016 it has enlisted customers into its new super fund with the promise of targeting investment into fast growing tech companies domestically and across the world.

It was announced this morning that Spaceship has withdrawn its application for a Registrable Superannuation Entity (RSE) licence. The very thing needed to run its own tech-focused super funds.

In short – Spaceship have had to delay plans because their CEO/co-founder Paul Bennetts has too centralised a role and too much formalised control over their customers’ results. In trying to create his vision he has reached a point where he needs to stand back and empower those around him.

Spaceship’s predicament reminds me of a recent conversation with a friend – he and his company had been developing a piece of software for the last 18 months. While finally the end was in sight, there was still a long list of work in front of them. The kicker – he said – “most of what is left I am doing for me, the customer result will largely be the same”.

Both Paul Bennetts and my friend have a vision they are pursuing.

Both are, however, adding additional time and cost to the end result due to what I call ‘The Ego Component’. – The parts held in by the vision holder that aren’t adding value to the customers of the end vision. 

I am the first to put my hand up here and admit I’ve been as guilty of this as any of you.

But we can do better.

Counter-intuitively – our visions are best realised when we think not of what we achieve but what we can now offer and the improvements we help others make.

Your Weekly Challenge

A few weeks ago I asked you all to consider if we were thinking big enough – if we were maximising our value and service.

This week, I want you to think a little differently –

What are you doing and what are you involved in that is no longer serving you or your vision?

What is no longer adding value to those you serve?

What are you doing for the sake of your own ego, or just because you planned to do it months ago?

Your challenge – Identify 3 elements of your self, teams or organisations of low value and change them. Either reframe them into new value or eliminate them completely.

As anyone who has ever completed a household spring clean would know, there is a satisfying catharsis in the removal of things that no longer meet your needs.

As a bonus, there is a similar catharsis and renewed focus when we remove the ego components from what we do and continue to focus on maximising the value we offer.

This Week’s Thought Pulses

Leadership & Performance

Visions are powerful things. Give yours the best chance of success by thinking not of what you get, but of what others do.

Momentum & Energy

We don’t (enthusiastically) build empires for another’s ego.
We build empires because we believe the end result will be better.

Delivery & Oversight

It could be 20% or just 1%, but there is unnecessary work planned in your project.
By continually considering end-value we can find it and descope it.
This is something agile delivery approaches do well.


Upcoming April Webinar (25/4/19): Are you clear on your value? 5 key strategies to ensure your value is clear and achievable – an unmissable event where I will cover how to build, communicate and embed real value into your organisations, teams and self-practices. MORE INFORMATION AND SIGN UP HERE.

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