The Buck Stops Here

There are a number of advantages associated with being an entrepreneur. Chief among these is the unprecedented amount of freedom that comes with the job. This freedom is perhaps one of the main reasons that many people are attracted to the idea of owning their own business. However, the freedom that can come from working for yourself, like most freedoms, does have a price.

Think about what it’s like working for someone else. You are hired to fill a certain position. That position comes with a set of job duties and responsibilities. You are expected to do the tasks associated with those duties and responsibilities on schedule and in a timely manner. In return, you receive a salary.

Your day to day job performance is overseen by a supervisor or boss. He or she decides whether your performance is satisfactory or not. If your performance is deemed satisfactory, you have the opportunity to advance into a different position with the opportunity to make more money. If your performance is not deemed satisfactory, then you lose the opportunity for advancement and more money. In fact, if your boss decides that your performance is bad enough, you could lose your job altogether.

This carrot and stick situation keeps most 9-5 employees motivated and on their toes. They do what they have to do during the working day because they need to keep their jobs and they want to advance. An entrepreneur does not have this direct threat hanging over his or her head. While the average employee does not have the freedom to do what they want while on the clock, the self-employed businessperson does.

They can take any day they choose and make it a Saturday. Come into work late? No problem. Leave work early? No problem. Take a two hour lunch? No problem. Take a nap? No problem.
There is a problem though. All of this new found freedom can sabotage an entrepreneur’s direction and discipline. As a result, they can find themselves getting nothing accomplished on a regular basis.

If this behaviour continues long enough, the entrepreneur’s business can fail and they may find themselves, once again, working for someone else, trading days for dollars.

The solution to this problem is to remember that, as an entrepreneur, you are your own boss. Therefore, you need to act like a boss. You need to take your business seriously. You need to hold yourself accountable for both the quantity and the quality of your production. In short, the buck stops with you.

Keep it Real,

Mark Lyford.

The Buck Stops Here

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