Episode from the podcastServe No Master : Escape the 9-5, Fire Your Boss, Achieve Financial Freedom

SNM203: The Buck Stops Here. It's The Right Time To Take Responsibility

Released Tuesday, 13th October 2020
Good episode? Give it some love!
The buck stops here when you're your own boss! Find out what that means in today's episode. 
 Being on the top is lonely. When I started my business 10 years ago, I've tried hiring friends, I've tried converting employees to friends and that always worked out poorly.
It’s is always better to have a distant and professional relationship with your employees. I really like the people on my team, but I am not best friends with them and that distance we have is one of the reasons why we work so well together. 
The level of responsibility you have as a boss means that there is a level of stress that you experience. Even if you're just a one-person operation, when you're your own boss, you have to decide how much money that comes in, goes to the business, and how much it goes to your family. The kids might want a new toy, but you need to put money aside for some software that you need to buy to grow the company. 
With my company, I always have the worst-case scenario possible in my head but I also have solutions if that ever happens. We are constantly trying to improve how much space there is between what we have and what we need, so we have more and more buffer. This is why even though I want to hire new people all the time, I learned to take a step back and consider whether that money would be better left in the company buffer. I don't like to hire someone until I have at least three months of their salary saved in a separate potential higher salary box.
  It’s always a good idea to keep a proper track of your money. You have to know how, where, and how much you are spending. The money you don’t spend is money you get to keep. Working for a big company and spending the company’s money is different than when it’s your own money. 

Thank you for listening

▶️▶️▶️▶️

Resources mentioned:
Leave some feedback. We would love to hear from you!

Connect with Jonathan Green and Serve No Master:
 
The post SNM191: How to build an authorship business without breaking the bank with Ray Brehm appeared first on Serve No Master: The Buck Stops Here. It's The Rig…

Creators & Guests

We don't know anything about the creators of this episode yet. You can add them yourself so they can be credited for this and other podcasts.

Episode Reviews

This episode hasn't been reviewed yet. You can add a review to show others what you thought.

This podcast, its content, and its artwork are not owned by, affiliated with, or endorsed by Podchaser.
Rate Episode

Share This Episode

Recommendation sent

Join Podchaser to...

  • Rate podcasts and episodes
  • Follow podcasts and creators
  • Create podcast and episode lists
  • & much more

Episode Details

Length
21m 20s
Explicit
No
Episode Type
Full

Episode Tags

Do you host or manage this podcast?
Claim and edit this page to your liking.