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How Do You Manage Your Business?

by DiTesco

Whether you are online or offline, managing your business is pretty much the same. Among some differences will be the requirement of you being present or not on a daily basis. Some will argue that you can only manage your business by being constantly involved in you day to day activities and while this is true for small businesses, this can be very stressful for medium to larger size businesses.

The difference between an Owner and an Absentee operator.

As I previously mentioned, there is no argument that as a business owner, you should get involved in managing your business. The question is, are you are working in your business every day, or can your business run without you being there? If you work in your business every day, you are called an “owner operator”.  If your business can run without you, you are known as an “absentee owner”.

Being an “absentee owner” has its advantages. If done properly, your business will generate profits even if you are not there, thus providing you with more freedom in your life. You can venture in other projects or simply enjoy. The advantages are countless, but unfortunately, it is not for everyone. There are so many differences between an “owner” and an “Absentee” operator, that I am unable to write it all down. However, here are some examples:

Owner Absentee
Focus on providing the cheapest prices. Focus on providing the best customer service.
Penny pinchers. Try to save every penny. Willing to spend money on customer service.
Demand employees to be perfect. Willing to accept what is less than perfection in their eyes.
Have a hard time trusting employees. Trust employees to make decisions.
Control freak Not as controlling

If you are willing to be an absentee operator, you will need to have all the ingredients that will allow you to manage your business without being there. As I said before, this is not for everyone and professional advice should be seriously considered if you are ever planning to go this route. Hands On Solutions is a company that provides guidance and orientation to help you achieve this. You can read more about their executive bios and browse through their free articles library. Then decide. So which one are you? Are you an owner or an absentee operator?

This post brought to you by Seattle business consultants, Hands On Solution.
(see disclosure policy)

Article by

+DiTesco is a Business and Inbound Marketing Consultant, and founder of iBlogzone.com. iBlogzone's main objective is to help startups and small business owners achieve success in their online ventures. | More About Me and my Consulting Services.

Francisco has written 965 articles at iBlogzone.com

1 Aswani April 30, 2010 at 5:31 pm

Nice post. Something new for me. Well, I am not managing any business at present but would like to..in near future. And these tips are certainly going to help me in doing it better. Thanks so much for sharing..have a great weekend ahead..bro 🙂
.-= Aswani invites you to check this out.. How to manage negative comments on your blog =-.

2

Allied Bloggers

May 1, 2010 at 12:33 am

New Post: How Do You Manage Your Business? – Whether you are online or offline, managing your business is pretty mu… http://ow.ly/17el9V

3

Dave Doolin

May 1, 2010 at 12:35 am

I’m moving as fast as I can to “Absentee Owner” but I have a long way to go yet.

I’ll get there.
.-= Dave Doolin invites you to check this out.. Definitely up to no good (no blog post today) =-.

4

Hesham

May 1, 2010 at 4:54 pm

Same here, facing the challenge of building the business, and time is against me all the time!
.-= Hesham invites you to check this out.. Tips for Business Blogging Success =-.

5 DiTesco May 1, 2010 at 5:57 pm

That’s OK, Dave. before being an absentee, one must start somewhere and I’m sure you and Hesham are on the right track.

6

Stephen MG Harrison

May 1, 2010 at 12:51 am

RT @ditesco: New Post: How Do You Manage Your Business? – Whether you are online or offline, managing your business is pretty mu… http://ow.ly/17el9T

7

Daniel Hunt

May 1, 2010 at 1:51 pm

Great post, I’d like to be have a business generating $5M revenue per annum first, then the luxury of absentee owner sounds great.. thanks for the checklist, some important distinctions between the two. Keep up the good work…

8 DiTesco May 1, 2010 at 5:56 pm

Hello there. It is so nice to see you here. how are you doing. Been a while. Hope all is well with you. And yeah! It would be great if we both can be an absentee in the near future:)

9

Famous Bloggers

May 1, 2010 at 4:50 pm

RT @ditesco: How Do You Manage Your Business? http://bit.ly/9K45D3

10

Famous Bloggers

May 1, 2010 at 6:50 pm

@ditesco That's what I was talking about in the comment here: http://bit.ly/9K45D3 🙂

11

lawmacs

May 2, 2010 at 9:21 am

This is so true being an absentee owner has its advantage like wise being an owner operator they both can provide so great results if handled in the right way.
.-= lawmacs invites you to check this out.. Can you get rich by blogging ? This is a question which i am being asked by many of my friends who aspire to be a blogge =-.

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