Pride is a terrible thing, and I can say that sincerely.
Let me share two examples from my own experience to back that statement up.
Example 1: In our photo printing business 20 years ago, I created my own invoicing and accounting application. I setup the computer, developed the application, and created the backup strategy.
One day, the computer crashed. I was annoyed, but figured I’d just restore from the backup I was taking.
Except the backup hadn’t been running, which I had no idea about…
Instead of reaching out to my clients to confirm their orders, which required me to swallow my pride by admitting that my computer had crashed and my backup hadn’t been running, I decided to send the hard drive away to recover the data.
Long story short, I paid twice as much for the data than I had in total orders recovered on the drive. Smart, eh?
Example 2: We had built the business up quickly on our service and quality, so it wasn’t odd to hear from a new client on any given day.
One day, a photographer who printed their own prints called and wanted to sell us their printer. They said if we bought it, they would send their negatives to us for printing.
We could have used their printer as a backup and it also contained features that we didn’t have on our existing one, but they wanted more than we had to spend, so I had to put it on debt.
Good ol’pride kicked in again and I agreed to buy it so I would feel like a big shot.
We bought the printer and we never heard from the photographer again because they bought a new digital camera, which was gaining popularity at the time.
They burned us good, but I blame my pride because I could have easily prevented it by being reasonable.
We were literally years paying for those two mistakes. I still get angry thinking about it…
Pride has no place in business, unless you have a healthy pride in your accomplishments or staff.
Other than that, pride should not be used as a basis for ANY business decision.