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Master the Art of Business

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This is a preview of a key idea from The Personal MBA: Master the Art of Business by Josh Kaufman. Order your copy now...

Excessive Self-Regard Tendency

“I haven’t been wrong since 1961, when I thought I made a mistake.” — Bob Hudson, politician

Key Ideas:

• Excessive Self-Regard Tendency is the natural tendency to overestimate your own abilities.
• Excessive Self-Regard Tendency is more pronounced if you don’t know much about the subject at hand. The more incompetent people are, the less they realize they are incompetent. On the contrary, the more you know about a subject, the more accurate your perception of your competence will be.
• Once you learn more, you become “consciously incompetent”: you know what you don’t know. Developing “conscious competence”, knowing what you’re doing, takes experience, knowledge and practice.
• A healthy amount of humility can keep you from assuming you know everything, and therefore making you want to keep learning.
• Excessive Self-Regard Tendency is common, don’t think you’re immune to it. It helps to cultivate relationships with people who aren’t afraid to tell you when you’re wrong.

Questions for Consideration:

• What checks have you placed on your own self-confidence?
• Do you have trusted, experienced advisors who can prevent you from making mistakes of ignorance?

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