Entrepreneurs are always seen as the boss of themselves. In fact, one of the many reasons many become an entrepreneur is to become the boss of themselves. They don’t want to take order from another person. They don’t like their bosses, so they want to become an entrepreneur. I’m glad to announce to you the 5 bosses of entrepreneurs.
At least in the corporate world, your boss is the one you take order from. When he calls, you pick with keen and attentiveness. When he gives instruction, you obey to the letter. Same is applicable to investors of an entrepreneur.
These guys give you money to run your business. And we all know money is business. So, investors are your boss. If they threaten to pull out, your business is threatened as if your boss in the office threatens to sack you. Akin Alabi, the CEO of Nairabet.com was saying in his best selling book Small Business, Big Money that if your investors call you and your wife calls you, you pick that of your investors first. That is your boss.
Without your customers, you can’t be in business. What is the essence of a beautiful office with a beautiful UI/UX captivating product design without a customer to buy? It is useless. It is like the boss in the office refuse to come to the office to arrange things, sign budget, give order etc.
Another language to this is that customers are the king. They are the one that give entrepreneurs the income and profit.
There regulators of each industries. Manufacturing industry has its own regulator. Fintech and Financial industries have their own regulators.
If Central Bank of Nigeria comes with a tough policy, banks will be shivering. Of course, you know banks setup is the function of an entrepreneur. So, CBN is the boss of financial institutions.
In the same book of Akin Alabi, he said whenever the FIRS guys show up, he shivers. In fact, he said he don’t like seeing them.
Well, you may not agree with me on this but as an entrepreneur, your team is your boss. Imagine you have five team of the finest programmers and suddenly in a day, they decided not to come to work. I trust you will start begging them on phone not to do that. Your work will stand still. This is similar to the fact that your boss in the office refuses to sign cheque for budget, everything stand still.
To achieve more, you must as an entrepreneur treat your team members as boss. Your team have the secret of how everything works the same way a boss in the office have all the secret of how his business works.
Anyone that keeps you on your toe is your boss. As entrepreneurs, your competitors are your boss. They chase you, you chase them.
When their new product is out, you are the first to check review. When they win, you try harder. Your competitors are capable of sacking you from business the same way a boss in the office will sack his workers.
So, entrepreneurs, erase the mindset that you are your own boss. You have bosses, treat them well so as to be in business.