The "Boss" Myth

Let’s clear up a misunderstanding when it comes to owning your own business especially at the start- You’re your own boss. I know you have heard that and that might be one of the reasons you want to start your own business. But do you understand it, really understand it? Yes, it means you can work from home in bunny slippers, run the business the way you want it run, fire a great employee because there is no work, fill out tons of paperwork, deal with the health inspectors or the unemployment department, clean up the overflowing toilet. Have I got your attention?

Being your own boss is not just the good stuff. It is also knowing everyone’s job and taking responsibility for it. Too often, a potential business owner looks at their boss and is sure they can do that job. They see what the boss does and it doesn’t look so hard. But what is the boss doing they don’t see? And what is the boss’s boss doing that affects their job and the business as a whole? And don’t forget all the support people off to the side. Or, have you thought about the work that happened years ago to develop relationships with vendors and customers. Even if you are hiring people to cover some jobs, you still have to know enough to be able to supervise them, to make sure they are doing what they are suppose to be doing.

Sally worked in the shoe department for a big department store for years. She worked her way up from sales clerk to buyer. Sally dreamed of her having her own shop and finally she got her chance. “Sally’s Shoes” was very successful and closed within 2 years. Why? It could have been that Sally didn’t know enough to see that the accounting student she hired to do the books wasn’t keeping her payroll deposits up to date. Or, that Sally didn’t really understand cost of goods and pricing. Or she didn’t pay her bills on time and her vendors dropped her.

Starting a business is fun. You can spend hours on picking a name, finding a location, writing ads, preparing for opening day. Running a business is great. But you also have to be the boss, too. You have to understand and do the not so fun stuff. Things like labor rules, tax filings, cash flow, missing employees, bounced checks … I could go on but I’m sure you get the idea.

The best business concept won’t be a long term success unless the owner is willing to be the boss. A real boss.

Comments

[Glenn Evans]

Running business solely on your own is impractical, too. It could take up most of your time, and handling multiple duties is difficult to keep track and to execute. How will you reap the fruits of your labor if you don't have time for yourself? Expanding a company slowly would work if you are not used to delegating tasks.

[Brian O'Connell]

Good post! You shouldn't just start a business because it sounds like fun. That can be one of the reasons, but you want to make sure you have a solid "why" behind starting up. Why are you doing this? If it's just for fun, as your post mentions, you'll burn out quick. Because you didn't realize x, y, or z or because you didn't have it in you to do the not-so-fun stuff along with the fun stuff. You need to be accounting for the good times and the bad in order to create a successful business.

[Brandon Marx]

I agree with Brain O'Connell because I had the same mind when I wanted to start my own small business, it was like too much FUN, however getting into a new thing where you're inexperienced might cause major problems, especially when it comes to business, Tax was the biggest obstacle that stood against my business.