BEWARE - TIAD
There are many reasons that more people going into business fail than succeed. At the top of the list is a disease I affectionately call “TIAD” which stands for “Thumbs In Armpit Disease.” People become vulnerable to this disease when they are successful. There’s a temptation to let up right after making a big sale, or having a great month. The vast majority of people need a “Boss” to succeed, and when becoming their own boss, become that boss they wish they had when they were on somebody’s payroll. Managing oneself is a real challenge, yet crucial to the success of the business.
It’s the Law!
People have the right to get paid for what they do. Minimum wage laws in most states say that anyone working for a company must be paid. The exception to that rule is the owner. Owners have the opportunity to “work for free” and in some cases even pay for that privilege. People go into business to make a profit and when expenses outweigh income, failure looms. The best thing that “paid employees” can do to enhance their opportunities is to make the business successful.