In the investment world, diversification is de rigueur. Anyone who works with an investment advisor has heard him talk about the benefits of holding a diversified portfolio. The reasons are pretty straightforward, asset classes typically move differently and when one class is underperforming, another is likely to outperform. The goal, therefore, of holding a diversified portfolio, is to achieve an overall positive return. And, even when a positive return isn’t feasible, e.g. in a significant downturn like we experienced in 2008, a diversified portfolio will still outperform a single asset class that experienced a significant loss, the S&P 500, in this example.
The concept of ego diversification is similar. If, all of your identity (your ego satisfaction) comes from a single pursuit, what happens when something is not going well with that pursuit?
Perhaps something at work is not going well. Maybe a new customer wasn’t transitioned well and you focus all of your attention on fixing that problem. Your initial instinct is often to double down and laser focus on solving the problem.If, all of your identity (your ego satisfaction) comes from a single pursuit, what happens when something is not going well with that pursuit? Click To Tweet
If these questions are beneficial to you, imagine what would happen if you were asked these questions every month? That is what Vistage does-question your answers. Contact me to learn more.