We are often advised to set and keep boundaries.  I teach a class for new supervisors and managers and one of the key strategies is to consider how boundaries change as you move up the ladder.  Some people were your buddies and now they work for you.  Activities you might have participated in with them before or information that you were allowed to share with them has changed.  You might want to consider what is ok and what is not ok regarding performance.  If an employee is five minutes late, is that ok?  What is not acceptable in terms of attendance?  There are many considerations.  

It is also very helpful to look at boundaries from a personal perspective, considering what is acceptable and not acceptable and what you will do if someone tries to step over your boundaries.  It is easier to think and plan beforehand than to be faced with the situation and try to decide right then.

As helpful as it is to set and respect boundaries, our boundaries sometimes hold us back from progressing toward our desired goals.  Are you keeping yourself from succeeding by forming boundaries or obstacles that you think are in your way but when you really come up against them - they melt away or never show up as expected?  Or worst case, you never find them because you never took the first step to move toward them out of fear.  You want to write a book but think no one will be interested in it so you put off writing the first pages.  You dream of owning your own business but never take the time to write a business plan and take the first steps to making your dream come true.  You imagine that you aren't smart enough or rich enough or fast enough or a number of other fallacies.  

Don't let imaginary boundaries stifle your creativity and risk taking.