He was a new king and had some big decisions to make. He didn't become king because he was awesome or did anything at all, but rather because his father, Solomon, had died. When one of the leaders from some of the tribes he ruled over came to him with a predicament, Rehoboam was at least smart enough to seek counsel.
Solomon had been pretty hard on these people and had very high demands on their workload and output. They figured that since there was a transfer of power, it was their chance to renegotiate and attempt to get some relief. Wanting to make the right call, he spoke to some older dudes who had been around a while. They counseled him to be good to the petitioners, and in doing so, he would earn their loyalty.
Then he spoke to his buddies, whom he had grown up with, and asked them their thoughts. In their youthful exuberance and first experience with power, they encouraged him to double down. Let 'em know who's in charge, put them in their place, and make their lives even harder.
He listened to the voice of inexperience and caused the people to revolt.
"But Rehoboam spoke harshly to them, for he rejected the advice of the older counselors and followed the counsel of his younger advisers." (1 Kings 13-14)
In the multitude of counselors, there's safety, but make sure those counselors have been around the block a few times and are willing to give you sober truth, not just feed your ego.
When I read this account, I thought about our belief in putting people over profits. Sometimes business decisions can be super difficult. But when given the chance to treat people with care, dignity, and generosity, do it. You still have to run a profitable business, and teammates need to execute on their responsibilities, but how you treat people along the way matters.
Seek counsel often, and when you do, see to it that your counselors are full of wisdom, not just exuberance.
And when given the choice between people and ego, choose people. Put people over profits... ego is the enemy.