You’re an entrepreneur. But who’s the boss in your business?
It’s not you. It’s your business.
One of the most profound and game-changing moments for me as an entrepreneur was when I finally realized who was in charge. As an entrepreneur and cofounder, I had thought I was calling the shots and making the decisions. And, from the perspective of the organizational chart, I certainly was. But, from a smart business perspective, I owed my allegiance to a more authoritarian boss -- the business itself.
This shift in mindset changed the way I approached and worked on the business. Instead of interacting with it as an authority figure, I deferred to the interests of the business.
I believe that this change has made me a better businessman and a better manager, and has contributed to the success of my ventures. Here are seven requirements that I suggest every entrepreneur keep in mind, recognizing that your business is your boss.
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Show your boss that you’re achieving what you’ve set your mind to do. Like any competent boss, he (or she) is counting on you.
The purpose of a for-profit business is to make money. The purpose of a boss is to make sure that happens. Your boss is expecting your actions to earn revenue. So, do what it takes.
Too many startups are satisfied with coasting. They don’t coast in the lazy way that a corporate behemoth might coast, but rather in a way that depends on the influx of funding, and a way that's dependent on an overblown valuation.
Tech startups are already in serious trouble, and other industries are following suit. With the availability of VC cash and business loans these days, it can be easy to forget that a business is meant to turn a profit, not just to "get funding."
If your business has a hyped-up valuation, that fact means nothing if you’re not making any money. So, work toward that goal, and your boss will give you a smile of approval.
Treat your business like the boss. Pay attention to it. Respect it. Work for it. Sure, your boss can be as ogre-like as they come. But he or she is still your boss. And the better you treat your boss, the better you'll be treated in return: Massive profits. Insane rewards. An enduring legacy.
That’s what you have to look forward to when you work hard for your business-as-boss.
Do you view your business as your boss? How has that philosophy helped you?
Show your boss that you’re achieving what you’ve set your mind to do. Like any competent boss, he (or she) is counting on you.
7. Do whatever is necessary and appropriate to earn revenue.
The purpose of a for-profit business is to make money. The purpose of a boss is to make sure that happens. Your boss is expecting your actions to earn revenue. So, do what it takes.
Too many startups are satisfied with coasting. They don’t coast in the lazy way that a corporate behemoth might coast, but rather in a way that depends on the influx of funding, and a way that's dependent on an overblown valuation.
Tech startups are already in serious trouble, and other industries are following suit. With the availability of VC cash and business loans these days, it can be easy to forget that a business is meant to turn a profit, not just to "get funding."
If your business has a hyped-up valuation, that fact means nothing if you’re not making any money. So, work toward that goal, and your boss will give you a smile of approval.
Conclusion
Treat your business like the boss. Pay attention to it. Respect it. Work for it. Sure, your boss can be as ogre-like as they come. But he or she is still your boss. And the better you treat your boss, the better you'll be treated in return: Massive profits. Insane rewards. An enduring legacy.
That’s what you have to look forward to when you work hard for your business-as-boss.
Do you view your business as your boss? How has that philosophy helped you?
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