Glory Hound – [glawr-ee hound] – A take-charge kind of guy that exaggerates his own deeds to make them seem exceptional while deeming the works of others in order to self-aggrandize his seemingly small tasks into the unreasonable realm of heroics.
Nobody likes a glory hound. If you are in the business of politics or show business, perhaps you will not be able to avoid the trap of glory. Certain professions require your mug be in the limelight constantly to keep you in business. However, for the rest of us, soaking in the light meant for others is a danger you must avoid if you seek to have a meaningful life devoid of perpetual 16-hour workdays and premature greying of your lovely locks.
If you are in business to make all of the important decisions and receive credit for any success, I hope you enjoy your little business, because that is all it will ever be. Big businesses, that make their owners rich, have many capable minds that are free to use their creativity for the benefit of the business and to create real profits. It is rare that a new business started by an entrepreneur will not initially include many long days, some sleepless nights and many difficult decisions. However, unless you can learn to delegate and point the spotlight on the talent within your company; your business will never be able to find and keep new talent willing to walk over hot coals to make the business a success.
I once had a business partner that told me that the CEO of a company is only supposed to make a couple important decisions a week and his/her job is done. True, but only if you are the CEO of GE or some other multinational business. That partner left me with over $50,000 in debts that I had to pay off by myself after he filed for bankruptcy and later schmoozed his way over a couple of years to be COO of a very big company and made millions in the process. I guess he was partially right. Somebody valued him enough to pay him millions and only make a couple decisions a week. I have never been that lucky and you probably won’t either.
Understand where your business is. If you are a start up, be prepared to work the hours and do more than just make a couple good decisions a week. However, to get to the point in your business where you can merely lead a talented team of go-getters that you point in the right direction, you must learn to spot talent, fire the glory hounds, reward the future CEO of your company with trust, give latitude to your talent to make some mistakes and pay out real bonuses. Even be prepared to pay your talent more than you pay yourself for a while. The richest business people I know would rather be rich than receive the glory. They understand that replacing themselves as king of the universe with talented people makes them a lot of money, buys them nice vacations and allows for a lifestyle no glory hound will ever know.
Decide why you are in business. If you are in it for the glory, this rule will fall on the infertile soil within your barren glory hound mind. However, if you are in it for a better life and more money, relinquish your strangle hold on the spotlight and give it to others who will make you rich.