To be in the venture world you need to have a relatively high degree of confidence.  Whether you're investing in companies or you are starting your own, you need to be believe in your own ability to beat the odds.  There are lots of words for this; guts, audacity, chutzpah, resolution and heart are a few that come to mind. 

There is a difference, however, between the requisite confidence and a big ego.  In these circumstances being confident means believing in oneself; being egotistical means being focused on self-aggrandizement.

In many situations in life a big ego can be overlooked - it isn't too disruptive.  In the process of starting a company, however, (whether as an investor, board member or operator) ego can create big problems.  Here's why - egos can lead individuals to make decisions that do not optimize the single most important shared objective, the one thing everyone in a venture should be trying to do: maximize shareholder value.

As I have alluded to already, this can be a problem for all of the parties involved in a venture.  You don't want a board member's pride to prevent them from voting in the best interest of the company.  You don't want a founders ego to prevent them from delegating roles to people uniquely fit for those positions.  And, you don't want a member of the staff feeling too important to put their vision aside to work with the team.

At the end of the day, egos distort decision making, leading to less optimal outcomes.  The irony in all of this is that if being a big deal is important to you, you should do your best to check your ego at the door.  There's no better way to feel important than to focus on building shareholder value at all costs and create a giant company.