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Forbes
7 days ago
- Business
- Forbes
How To Handle Narcissism And Egos In The Workplace
By Levi King The goal is to create a balanced workplace culture that harnesses ambition. Once upon a time, I was at a big conference with several members of my executive team at the time. The conference was just wrapping up when I spotted one of them—I'll call him Maurice—standing in a corner chatting with a fellow from a different company. I'd worked with Maurice for years at this point. We didn't have a lot in common in terms of where we grew up, what schools we attended, and many other things that make up for one's basic life experience, but I trusted him as a colleague and thought of him as a friend. Just as I neared Maurice and the guy he was chatting with, I heard the latter say something that stopped me in my tracks: 'I'm sorry you have to work with that schmuck Levi. It sounds like it's been a terrible experience and I hope you can continue to make up for his bungling and keep things running smoothly over there.' This is how I discovered that a trusted colleague and friend had been tearing me down behind my back for reasons which didn't come to light until later, but which basically boiled down to outsized ego and ambition. It won't come as a big surprise to anyone who's ever worked in corporate America to realize that many folks outside of our world perceive many folk in it as big-headed braggadocious monsters. The competition is intense and the rewards high. But Maurice, I think, represents something more than simply white collar Darwinism. Narcissism and big egos are often conflated in discussions about problematic workplace behavior, but they represent distinct psychological phenomena with important differences in how they manifest and impact organizations. While both can create challenges in professional settings, understanding the nuances between narcissism and big egos is crucial for effectively managing workplace dynamics and fostering a healthy organizational culture. Narcissism is a personality trait characterized by an inflated sense of self-importance, a constant need for admiration, and a lack of empathy for others. In the workplace, narcissistic individuals often display an overwhelming sense of superiority and entitlement. They crave attention and validation, constantly seeking praise and recognition for their achievements, even at the expense of others. Narcissists in professional settings tend to exhibit several key behaviors: The impact of narcissism on workplace dynamics can be severe. It often leads to decreased morale among colleagues, dysfunctional communication, and a breakdown in teamwork. Narcissistic leaders, in particular, can create toxic work environments by prioritizing their personal goals over the team's success and stifling creativity and innovation by dismissing others' ideas. While related to narcissism, a big ego in the workplace is a distinct concept. Individuals with big egos display excessive pride in their abilities and accomplishments, often leading to arrogance and overconfidence. Unlike narcissism, which is rooted in deep-seated insecurity, a big ego stems from an inflated sense of self-worth that may or may not be justified by actual achievements. Key characteristics of individuals with big egos in the workplace include: While big egos can drive individuals to achieve great things, they can also create friction within teams and hinder collaborative efforts. The impact on workplace dynamics, while potentially disruptive, is often less severe and pervasive than that of narcissism. The primary distinctions between narcissism and big egos in the workplace lie in their underlying motivations and the extent of their impact: Narcissists fundamentally lack empathy, whereas individuals with big egos may still possess the capacity for empathy, even if it's overshadowed by their inflated self-image. Narcissists have an insatiable need for admiration and validation from others, while those with big egos may be more self-contained in their sense of superiority. Narcissists are more likely to engage in calculated manipulation and exploitation of others, whereas big egos might unintentionally alienate colleagues through their arrogance. Narcissists react to criticism with intense defensiveness or rage, viewing it as a threat to their self-image. Those with big egos may be dismissive of criticism but are less likely to react with hostility. Narcissistic leaders can fundamentally alter an organization's culture, creating lasting damage even after their departure. Big egos, while problematic, typically have a more localized impact on immediate team dynamics. More from AllBusiness: Addressing narcissism and big egos in the workplace requires different approaches. For narcissism: For big egos: While both narcissism and big egos can create challenges in the workplace, understanding their distinct characteristics is crucial for effective management. Narcissism represents a more pervasive and potentially damaging force, capable of undermining organizational culture and team dynamics at a fundamental level. Big egos, while problematic, are often more manageable and may even drive positive outcomes when properly channeled. By recognizing these differences, leaders and HR professionals can develop targeted strategies to mitigate the negative impacts of both narcissism and big egos, fostering a more collaborative, innovative, and psychologically safe work environment. Ultimately, the goal is to create a balanced workplace culture that harnesses the drive and ambition often associated with strong personalities while ensuring that these traits don't come at the expense of teamwork, empathy, and overall organizational health. Being blindsided at a work conference certainly wasn't fun, but the real consequences of Maurice's narcissism ultimately proved to be much more serious. The more you learn to tell the difference between good old-fashioned ego and something more sinister, the less likely it is you'll waste months—even years—working alongside people who are pulling things down just as quickly as you are building them up.
Forbes
27-05-2025
- Business
- Forbes
Angel Investor Vs. Venture Capital: Which Is Right For Your Startup?
By Levi King VCs and angel investors have different approaches and tend to invest at different scales. In the world of startup funding, two prominent players stand out: venture capitalists (VCs) and angel investors. Angel investors are typically wealthy individuals who invest their personal funds in early-stage startups. Often former entrepreneurs themselves, they bring not only capital but also valuable experience and industry connections to the table. Angels tend to be more flexible in their investment approach, often making decisions based on personal interest in the entrepreneur's vision or the potential of the idea itself. Venture capitalists, on the other hand, are professional investors who manage funds on behalf of other investors, such as institutions, corporations, or pension funds. They operate within a more structured framework, employing rigorous due diligence processes and focusing on businesses with high growth potential and scalable models. While both provide crucial financial support to emerging businesses, they differ significantly in their approach, investment scale, and overall impact on a company's trajectory. Understanding these differences is essential for entrepreneurs seeking to secure the right type of funding for their ventures. One of the most significant differences between VCs and angel investors lies in the stage at which they typically invest and the amount of capital they provide. Angel investors are often the first external funding source for startups, stepping in during the pre-seed or seed stages when the business is still developing its product or service trying to find product-market fit. Their investments usually range from tens of thousands to hundreds of thousands of dollars, filling the crucial gap between initial funding from friends and family and larger institutional investments. Venture capitalists, however, tend to enter the picture at later stages, typically seed, Series A, and beyond, when a startup has already demonstrated some market traction or viability. VC investments are significantly larger, often starting in the millions and potentially reaching tens of millions of dollars. This reflects their focus on scaling businesses with established potential rather than nurturing ideas from inception. The decision-making process for angel investors is often more personal and subjective. They may rely heavily on their gut feeling, the entrepreneur's passion, and the potential they see in the idea. This approach allows for quicker decisions and can be advantageous for startups needing fast access to capital. Venture capital firms employ a more structured and rigorous decision-making process. This involves detailed market analysis, assessment of the business model, and evaluation of the startup's growth potential. Decisions are typically made by a committee or team rather than an individual, which can lead to a longer and more complex process but often results in a more comprehensive evaluation of the investment opportunity. Angel investors frequently take a hands-on approach with the businesses they invest in. They often provide mentorship, guidance, and access to their personal networks. This level of involvement can be invaluable for early-stage startups navigating the challenges of business development and market entry. While venture capitalists also offer support beyond just capital, their involvement tends to be more strategic. They may seek board positions, influencing major decisions and providing high-level guidance on scaling the business. VCs typically have extensive networks and can facilitate partnerships, further funding rounds, and potential exit opportunities. Angel investors generally have a higher tolerance for risk, often investing in unproven ideas or technologies. They understand that many of their investments may fail, but they're willing to take these risks for the potential of high returns on successful ventures. Their investment horizon tends to be longer, and they may be more patient with the company's growth trajectory. Venture capitalists, while still operating in the high-risk world of startup investments, tend to be more risk-averse than angel investors. They seek businesses with clear paths to significant returns, often looking for companies that can potentially provide a 10x or greater return on investment. This focus on high growth and scalability influences both their investment choices and their expectations for the companies they back. The level of control and influence exerted by investors is another key differentiator. Angel investors typically seek less control over the companies they invest in, often content with minority stakes and limited voting rights. This can be appealing to entrepreneurs who wish to maintain significant control over their company's direction. Venture capitalists, however, usually demand more substantial equity stakes and greater control. They may require board seats, voting rights, and other mechanisms to protect their investment and influence the company's strategic decisions. While this can bring valuable expertise and guidance, it also means entrepreneurs must be prepared to cede some control over their businesses. More from AllBusiness: Deciding between angel investors and venture capitalists depends on various factors related to your business's stage, needs, and long-term goals. Here are some considerations to help guide your choice: If you're in the very early stages, with just an idea or prototype, angel investors might be more appropriate. If you have a proven product and are looking to scale rapidly, venture capital could be the better option. For smaller capital requirements (up to a few hundred thousand dollars), angel investors are often the go-to choice. For larger amounts necessary for significant scaling, VCs are typically better equipped. If you're aiming for rapid, exponential growth and have a business model that supports this, VCs might be more aligned with your goals. For businesses with more modest growth projections, angel investors might be a better fit. If maintaining control over your company's direction is a priority, angel investors generally allow for more autonomy. If you're open to significant external influence and guidance, VC funding might be more suitable. Consider the type of support you need beyond capital. Angel investors often provide more hands-on mentorship, while VCs offer strategic guidance and extensive industry connections. VCs typically look for clear exit strategies, often pushing for rapid growth toward an IPO or acquisition. If you're not planning for such exits in the future, angel investors might be more patient. Some industries are more attractive to VCs due to their potential for rapid scaling (e.g., tech, biotech). Other sectors might find more receptive audiences among angel investors. As you consider which is best for your business, realize that both venture capitalists and angel investors play crucial roles in the startup ecosystem, each offering unique advantages. The right choice depends on aligning your business's needs, stage, and goals with the investor's approach, resources, and expectations. By carefully considering these factors, entrepreneurs can make informed decisions about which funding path is most likely to lead their business to success.
Forbes
21-05-2025
- Business
- Forbes
3 Ways Suppliers Can Help Small Businesses Access Financing
By Levi King Suppliers can play a crucial role in helping small businesses access funding. It's no exaggeration to say that the struggles of small businesses—and questions of financing, in particular—have occupied my thoughts day and night throughout the entirety of my entrepreneurial career. Especially in the early days, those thoughts were the furthest thing possible from theoretical. If I had to describe them in two words, I might choose 'practically ignorant.' I didn't know the first thing about the subject; all I was sure of was that when I needed financing, I needed it now. Now that I'm in a position where theorizing about small business concerns contributes greatly to my quest to find solutions, I look back on the day when a certain person opened my eyes to the realities of financing. This person was about as ordinary a guy as you'll ever hope to meet: a vendor in small town Idaho. I was in my early twenties at the time. I'd opened an electric sign repair business and was working my butt off to keep it going. The first time I met him, I wrote him a check for some supplies. He didn't know me from Adam, and I'll never forget his face as he looked at the check I'd handed him and then back at me. 'I hope this doesn't bounce,' he said solemnly, throwing it down on his desk with dramatic flair. After a moment of silence, he whistled. 'Well, look at that.' I stood there quizzically. 'It didn't bounce,' he explained—at which I burst out laughing. It's an old and corny joke, but I was young and—despite all my cares —lighthearted. Needless to say, he made a good impression, and over the following months I returned to him time and again to write more checks. One day, as I handed him yet another check, he made a proposal. 'It's kind of a pain to cash all these checks,' he said. 'Why don't I just check your business credit, and whenever I see you again I'll give you net 30.' I agreed to his generous proposal, but the next time I saw him he informed me that I didn't have any business credit. I informed him in turn that I didn't know what he was talking about. I'd never had a credit card in my life, had never taken out a loan; I was completely clueless about what is arguably the most important tool small business owners have at their disposal. My kind supplier then made a relationship-based decision—one that changed my life. Based on the fact that I seemed to be a hardworking whippersnapper, and so far all my checks had cleared the bank, he decided to extend me net 30 regardless of my lack of credit history. If I kept repaying him on time, he'd report my good behavior to the business credit bureaus, and I'd be on my way to creating the kind of credit score that means sweating blood over financing is a thing of the past. Suppliers can play a crucial role in helping small businesses access funding, which is essential for growth and sustainability. This support can come in various forms, including trade credit, supply chain finance, and supplier financing. Understanding these options can help small businesses navigate financial challenges and capitalize on opportunities. Trade credit is a common method through which suppliers help small businesses manage cash flow. It allows companies to purchase goods or services without immediate payment, providing a grace period before the invoice is due. This grace period can range from 30 days to six months, depending on the supplier's terms and the business's creditworthiness. By using trade credit effectively, small businesses can delay cash outlays, thereby conserving working capital for other essential expenses or investments. As I advanced from fixing to manufacturing electric signs, trade credit meant the difference between failure and success. The idea of floating material costs for months during the much more expensive manufacturing and installation process would have been crushing. However, securing favorable trade credit terms often requires a good credit history. New businesses or those with poor credit may find it challenging to secure extended payment terms. Once a business establishes a reliable payment track record, suppliers are more likely to offer better terms, which can significantly improve cash flow management. Supply chain finance (SCF) is another powerful tool that connects buyers, suppliers, and financial institutions to optimize cash flow. It primarily involves two main strategies: reverse factoring and dynamic discounting. Reverse factoring allows suppliers to receive early payment on invoices at a small discount, based on the buyer's creditworthiness. This approach benefits both parties: suppliers receive immediate cash, while buyers can extend their payment terms without affecting their suppliers' cash flow. Dynamic discounting involves the buyer offering suppliers an early payment in exchange for a discount on the invoice amount. The discount rate is typically adjusted based on how quickly the payment is made. Both methods enhance the financial stability of the supply chain by providing suppliers with timely payments and allowing buyers to manage their working capital more effectively. Supplier financing is a specialized form of funding that helps suppliers meet their financial obligations, particularly when they need to purchase raw materials or finished goods to fulfill large orders. This method involves a financial institution acting as an intermediary between the supplier and the buyer. The financier pays the supplier upfront, allowing them to cover production costs, while the buyer repays the financier at a later date. Supplier financing is particularly beneficial for manufacturing companies and distributors that need to stock up on inventory or fulfill large orders. It provides them with the necessary funds to meet demand without depleting their cash reserves. However, this option typically requires a minimum level of annual revenue and a good credit history. More articles from AllBusiness: Using suppliers to help fund a small business offers several benefits: While leveraging suppliers for funding can be beneficial, there are challenges and considerations to keep in mind: Trust me when I say that suppliers can be a vital source of funding for small businesses through various financial arrangements. By understanding and leveraging these options, businesses can enhance their financial resilience, improve relationships with suppliers, and create opportunities for growth and expansion. While there are challenges to consider, the benefits of these financing strategies can be substantial for businesses navigating the complexities of cash flow management and supply chain optimization.
