On your Facebook home page, you should see the ‘Settings’ menu close to the search field on your upper-right. Open that menu and go to ‘Privacy Settings’.
On the next page, you’ll have four choices: Profile, Search, News Feed, and Applications. What you’ll want to edit here are your Profile privacy settings.
By default, everything on your profile is limited to your Friends and your Networks (your first Network is likely your city of residence, but you may have joined more). From the screenshot above, you can see that I’ve limited everything on my profile to my Friends and their Friends. Anyone else who visits my profile will only see that I have a profile, but will not see what’s on it.
In my example, you’re going to want to edit the setting on your Status Updates, since you don’t want your boss to know that you’ve “fanned” the competition. Click that dropdown menu and then select ‘Customize’.
You may want to tweak your overall privacy setting here, but what we’re aiming for is the “Except These People” list at the bottom of this dialog. Type out the name of any of your Friends to restrict that person from viewing anything in your Status Updates.