Can you really be an absentee owner?

[Joe Marconi]

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[James William]

On 9/17/2021 at 10:27 PM, Joe Marconi said:

I was asked recently if it's possible to be a true absentee owner. Here are my thoughts.  First, it really depends on the staff, your position in your business and how the business is structured. There are shops that are run totally by a manager and the owner is not involved in the day to day. There are shop owners with multiple locations. There is no way to be at all locations at the same time. 

Build the business by having a strong team. Find leaders in your business.  Give others control and allow others to grow.  You, the owner, do not have to be in on every single situation, and you should take time away from the business. 

But remember, you are the owner and the primary leader. You set the tone. 

Those are my thoughts...yours? 

 

I believe that the concept of absentee owner can work only in a case where the organization has reached the maturity stage. This is when the organization and its people knows how to streamline their tasks without the authorization and accountability of an owner. 

The owner has given years of his hard-work, effort and sleepless nights to the company, and hence, he now deserves to rest at the backend. Moreover, becoming an absentee owner can be used as a strategy in itself. Such that the owner may want to get an insight into how his team operates when freedom is given to them in his absence. 

[Joe Marconi]

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