The difference between being in a job and being an entrepreneur is that you have way more bosses in the latter case. It’s a misconception that you’re your own boss when you startup, except for the initial honeymoon period.
I remember that in my first job, I had one boss. He was in charge of assigning me work, rating my performance assessment, and giving me increment. I had to deliver good work to him, for a decent career ahead. He was kind to me, so things went well. I have heard that most people don’t quit their jobs, they quit their managers. Leaving job for a better manager is alright. Leaving job to become an entrepreneur, just so that you won’t have a boss, is a different ball game altogether.
Here are some of the multiple bosses you’ll have, as an entrepreneur.
Your Government is your boss. They set taxes which you have to pay on time, else there can be penalties. Most people in a salaried job, never get to know about all the taxes that are paid by companies. You must also adhere to all the ever-changing rules set by the government, while being cordial to people across party lines.
Your employees are your boss. Hiring is indeed tough, especially when yours is not a known brand. It’s natural for people to prefer established companies over a risky preposition. You have to make compromises at times, when it comes to hiring, and also get your employees to perform well. At times, someone becomes highly critical to the company. Then founders start dreading, what if they resign and they need to find a replacement? Probably you did the same as an employee in your past, of resigning from a job after getting a better opportunity elsewhere. As an employer, now you probably fear karma getting back to you. Not just that, you need to pay your employees salaries on time, even if it means mortgaging your house.
Your customers are your boss. If employees want to work for known brands, then customers also want to use tried-and-tested products. You have to make them use your new product, while simultaneously listening to their complaints and feedback. Even if you disagree with them then you cannot explicitly express your thoughts, as they might get offended. A customer will shout at you in front of others and you will not be able do anything, for fear of losing business and subsequently finding it hard to pay salaries on time. One satisfied customer is not enough, you have to be on the hunt for newer ones. And sometimes even let a few ones go, if they’re not letting your business progress that much.
Your competitor is your boss. Wait for them to release a product with same features as yours, at a lesser price, and you’ll have to think on what to do next.
Unexpectedness is your boss. Did any travel or hospitality business anticipate that things would turn real bad for few months due to COVID? With some IT companies going into extended work from home, commercial real-estate stocks are still down for companies. Think of theatre owners who are still not sure of how long the effects of virus would remain and when they’ll begin to put up house full boards. An entrepreneur has to take these pressures, not the normal employees.
Your CA is your boss. They know ins and outs of your business, that is where money comes from and where it goes. A well managed CA can save tremendous cost to the company, and the reverse is also true. You cannot simply create a product and sell in the market, you also have to manage financials properly.
Your health is your boss. Working extremely hard all the time, can have its side effects. You have to be in the best of health mentally and physically. You can’t take one month unpaid leave or drop in papers, the way you can do in a job. If you’ve been spending money from your savings without any revenue for months, then it is bound to affect your health. If you’re the face of your company, then naturally you have to be at your fittest best.
Your family is your boss. You’ll have to give them time, otherwise your personal life can be adversely affected. In case your savings are on verge of finishing and you’re not getting investment from the market, then you’ll have to rely on family for finances. Above all, you need to have a healthy equation with your life partner, for things to be hunky-dory.
Your calendar is your boss. It’s only in initial few days that you won’t have to get up on time. Once things get into motion then chances are you will end up waking up earlier than before and sleeping later at night. Staying alert much more than everyone else in the team. In-between you’ll have to take crucial client calls. You might not have time for proper lunch and dinner, having food at odd times. The success of your company will depend on how you manage your availability and plan the time in advance.
Social media is your boss. You have to get noticed among users and also manage perception well. You cannot simply burn money on paid ads, yet negative or no coverage can be demeaning. So you’ll have to devise ways to create positive perceptions in an organic manner.
Your investor is your boss. Everyone doesn’t do charity by investing in your company. They’ll get 10-12% returns anyway by investing in stocks or mutual funds, so they expect a much higher ROI from your company.
Your co-founders are your boss. Things are easy when business is starting. As money starts coming in, chances of ego are there. They might feel that company is successful due to them, and deserve more money. Ultimately, partnerships can go awry, unless if done with a lot of thought. You can never anticipate what will happen, at what time. The best is to reduce risks and plan well.
So, don’t quit your job to become an entrepreneur, just because you want to be your own boss.
Yaju Arya Dot Com 
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