The Downside of Being
the Boss
"You get to boss
people around, you can choose when you work and you make a lot of money
- there is a down side?", you ask. As with practically all things
in life, the roses will always come with thorns.
The Buck Stops Here
Former U.S.
president Harry Truman had a sign with "The Buck Stops Here" inscribed
on it. In so doing, Truman was announcing that while those beneath him
could duck responsibility, as the then president of the United States,
he has to bear the ultimate responsibility.
As an employee,
you would encounter many problems which you can safely shirk
responsibility. So long as it is not under your job scope, you can say,
"That's not my problem." The problem will be solved by somebody who is
paid and trained to solve it.
If nobody claims
responsibility for the problem, the problem will ultimately have to be
solved by the boss himself. But as the boss of the business,
"That's not my problem." cannot be in your vocabulary. You and you alone
are ultimately responsible for the success or failure of your business,
nobody else.
It's Lonely at
the Top
As the boss of the
business, you have to expect a bit of isolation from your employees.
Even if you have a consultative form of leadership, looking at your
employees as partners and peers rather than subordinates, you will not
be one of the boys.
As the boss, your
priorities and goals are different from them and that is what will set
you apart.
In fact, to keep
your business running smoothly, it may be best to maintain a little
distance. There may be times in which you have to do the unpopular but
necessary like firing somebody and you will definitely appreciate the
distance then.
Financial Security
If you are used to
getting a paycheck every month, this aspect of running a business may be
pretty hard on you. Instead of enjoying a paycheck every month, you are
going to have to hand out not one but many paychecks. :(
This is going to
be extremely difficult and stressful at the beginning when your business
is not profitable yet. Every month you will see your operating capital
being depleted, with little prospect of a surplus the next month. But
then, maybe this will spur you on to achieve heights even you didn't
dream possible.
