Taking Care of Number 1

In his timeless business classic Looking Out For Number One, Robert Ringer suggested that in all business dealings the first person you should be concerned with is yourself. Although at first blush this might seem to be a very selfish concept, the reality of it is that if you cannot help yourself it is clearly impossible to help others. Even those with a well-defined altruistic focus must first be able to live and survive themselves in order to help others live and survive as well.

Some entrepreneurs, particularly small business people, wrestle with this concept. They are afraid to demonstrate material wealth and success because they are concerned that their employees – who are in some cases treated like family – will have a negative perception of them. When this becomes the case, the entrepreneur is more concerned about what their employees think than what is best for themselves and their business.

This problem becomes even more pronounced during economic times such as we face right now.

Often there is a reluctance to address these costs because of the extreme negative impact it will have on the released employee’s family. While noble in concept, when a business is struggling, the reluctance to act and reduce labor costs can and will ultimately have a negative impact on the business owner or manager’s family instead. The bottom line is that assuming responsibility for and providing employment to a team of employees adds a whole new layer to the complexities of running a business.

This is why many successful entrepreneurs are choosing to go solo. They are selling their businesses and redirecting their careers into new ventures that they can run and operate by themselves. If it sounds selfish, it is not, because very often these self employment opportunities provide the potential for tremendous income and wealth creation. Although the entrepreneur no longer employs other people, they now have the capability to give back to the community and to society at large. When such is the case, taking care of number one is clearly not a selfish approach-it becomes far more beneficial to society as a whole.


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