{"id":1764,"date":"2011-02-10T07:49:28","date_gmt":"2011-02-10T07:49:28","guid":{"rendered":"http:\/\/www.shanecampbellcfo.com\/?p=81"},"modified":"2023-04-20T19:22:41","modified_gmt":"2023-04-20T19:22:41","slug":"now-youre-the-boss-the-5-things-your-boss-didnt-teach-you","status":"publish","type":"post","link":"https:\/\/www.b2bcfo.com\/shane-campbell\/the-boss\/","title":{"rendered":"Now you\u2019re the boss: The 5 things your boss didn\u2019t teach you"},"content":{"rendered":"

 <\/p>\n

Maybe we are all a bit like Michael Scott<\/strong><\/span>, the boss at Dunder Miflin (The Office<\/em>).<\/span>\u00a0 <\/strong>As the boss we like to be liked.\u00a0 We need to be praised. But unfortunately, those things usually don’t happen in real life as the boss. It’s very lonely at the top. The employees usually have little or no idea what its like to be concerned about meeting payroll, paying back business debt, handling production issues, and simultaneously grow the business somehow.\u00a0 So now that you are the boss, what are the really important things you need to know that your prior bosses didn’t teach you?<\/p>\n

    \n
  1. Employees do not remotely understand your world, and correspondingly will not necessarily\u00a0understand you, let alone \u00a0“like” you.\u00a0 You want praise?\u00a0 Get a hobby.\u00a0So don’t expect comaraderie\u00a0 or friendship. If you need constant affirmation, this is the wrong position for you.<\/li>\n
  2. Start planning your business today as if it is your intent to sell in the next few years.\u00a0 Why?\u00a0 Because circumstances may change and you may actually want to sell.\u00a0 Even if that is not the case, you will run your business better.\u00a0 Have you ever noticed how all of long-deferred home projects you have been meaning to get to for months or perhaps years miraculously get done right before you put your home up for sale?\u00a0 Steven R. Covey<\/strong><\/span> says to “begin with end in mind” in his book The Seven Traits of Highly Effective People<\/a><\/span><\/em><\/strong>. Constantly groom your business for sale.\u00a0 You will build more value and be better prepared if the unexpected (good or bad) happens.\u00a0 See my prior blogs on Exit Planning<\/strong><\/span>.<\/li>\n
  3. You will make plenty of mistakes.\u00a0 If you take these mistakes too seriously and dwell on them, you are missing the point.\u00a0 Business is really messy, and taking wrong turns is inevitable.\u00a0 No one sees the future with crystal clarity, so foregive yourself and move on.\u00a0 Yep, I gotta prior blog on that one too (look for a picture of “His Airness”).<\/li>\n
  4. Simply having\u00a0 what you perceive to be the best product or service in the industry\/area will not ensure business success.\u00a0 It’s only a start.\u00a0 Look only to the BetaMax for proof.\u00a0 You will need great execution, a great sales team, excellent marketing\/branding, and focus.<\/li>\n
  5. Your business will get more \u00a0complicated as you enjoy more success.\u00a0 That added complexity will be a distraction, and will take you away from your biggest job, which is growing the business.\u00a0 You will need to either learn how to delegate effectively, or hire someone to run the show for you.\u00a0 You need to stay focused on your passion, which is growing the business you started. \u00a0If you fail to act, your business will likely\u00a0lose its way as described in\u00a0The Danger Zone – Lost in the Growth Transition<\/a><\/span>, <\/em><\/strong>as written by <\/span>B2B CFO\u2122<\/a><\/span><\/strong> founder<\/span> Jerry Mills.<\/em><\/strong><\/span><\/li>\n<\/ol>\n

    So there are the five things your boss didn’t teach you about being the boss.\u00a0 Keep those things top of mind and you will siginficantly improve your odds of becoming a truly successful company.<\/span><\/p>\n

    \u00a0<\/em><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    “Simply having what you perceive to be the best product or service in the industry\/area will not ensure business success. 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