The trouble with being too confident. (2015)

“Too much self-confidence means you start missing the warning signs that you might be wrong … because, to you, the signs don’t even exist.

Sydney Finkelstein
‘Syd weighs in’, BBC Worldwide – Capital
27 May 2015

“All you have to do is look at popular movies to see how self-confidence is such a universal characteristic of effective leadership. James Bond, Indiana Jones, and Catwoman show no fear or hesitation; instead there is certainty and confidence. And when we see managers resembling these swashbucklers, we say, ‘there’s someone who’s going places’.

“If only.

“Self-confidence run amok leads to mistakes and missed opportunities, whether that is taking on big acquisitions that probably should never have been made (Hewlett Packard’s deal for Autonomy, that resulted in a $8.8bn write-down), to spending too much time perfecting the old while ignoring the new (Microsoft under former CEO Steve Ballmer missing the huge revenue-generation potential of search, mobile and social media while fixating on incremental improvements in Windows).

“It’s not that self-confidence is a bad thing, of course. It’s essential. But so are open-mindedness and flexibility.

“…Too much self-confidence means you start missing the warning signs that you might be wrong. You miss these signs because, to you, they don’t even exist. The possibility that you could be wrong is a foreign concept.

“…Lest you think self-confidence is the only culprit, consider the opposite – humility. ….excessive humility, like excessive self-confidence, brings downsides. In many walks of life, there is no replacement for the killer instinct.”

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