Being an Entrepreneur Means That Sometimes, You Just Have to Say No It can be hard. But it's a necessary evil.

A while back, I met with an employee to do an interim performance review. I was excited because I was about to surprise her with a significant pay increase in recognition of extra responsibilities she had taken on. Giving raises is one of the greatest pleasures for a business owner (at least it should be), and I had been looking forward to it all week. At the end of the review I told her what her new salary would be, and the entirety of her expressionless response was: "I thought this would come much sooner."

You know that "wah, waah, waaah" cartoon sound when something ends in excruciating disappointment? Yeah, that.

Then there was the supplier who asked if we could pay him a month early for a big production run, "just this one time." Having been on the other side of that situation a few times myself--and given that this was a friend, not to mention our key supplier, whose terms were a critical part of our inventory turnover and cash flow--I obliged.