The Absentee Business Owner...
 

I've been recently talking to a few absentee business owners. What are absentee business owners?

These are businesses where the owner of the business doesn't have to actually work in the business...

And what's the benefit of that? For one thing, it means that they can take holidays, or even not work at all... And yet, they're still making money when they do so!

Of course, this is what a lot of "internet marketers" say is the great thing about running an internet marketing business... They can take holidays, and still be making money while on holiday - though of course, that usually means that they're still working when they're on holiday!

The businesses I'm talking about are everyday-type businesses that you might find in a shopping mall. They have employees. And it's the employees who run the business.

In some cases, these absentee owners may also work in their own business, however, they're not actually needed there. They can leave and do other things, and the business still keeps running.

However, setting up this kind of business can have extra risks. If the business isn't doing well, you still have to pay salaries to your staff. So, the business has to be more successful financially to keep it going than a business where the owner actually has to work in the business.

It means that it's a little bit more difficult to do. However, if you can pull it off, then your life is so much better!

It also frees up your time to start new businesses. Some of these absentee business owners that I know own two, three, or four different businesses. Because their time is not tied into these businesses, they have the time to set up even more businesses that make them even more money. So, owning multiple businesses seems quite common among this group.

Of course, there is nothing new in this. However, it's been insightful to me to see how it all works first-hand. And, it's been instructive to also see the kind of lifestyle these guys live. They may not always necessarily seem very "rich" in a conventional sense, however, in terms of their lives, they are very rich... because they have the free time to do with what they like!

(They are also richer than they may at first appear, though, because their multiple businesses are also assets which they can sell for cash...)

Perhaps we can talk about this more in the future (if there's interest)...

Best wishes,

Dien

Re: The Absentee Business Owner...
 

Many entrepreneurs end up simply creating their own job ... instead of a business.

Nothing wrong with that approach. At least they are their own boss. But I know a painter in my area. He had a pretty good business going, with lots of painters on his crew. They were busy and well regarded, but the job only got done - and got done well - when the head guy was on site and supervising.

When he moved to a new location, he lost his customers and he lost his employees. Now he's a one-man painting show. He does ok, get plenty of work and is making a good "salary." But he's working a job now, not running a business.

I guess it is important to know what you are "shooting for." that step up in class, from working for yourself to actually running a business ... that's a big step, and a tough one for many to take.

How to find successful absentee business owners...
 

Hi Robert,

I have to agree with you. It is difficult to go from having a business which is really a "job," to running a business where you are an absentee business owner.

Of course, these things don't happen without there first being work to do to set everything up. I'm still learning more about it.

Here's something that one of my new absentee business owner friends told me...

He asked, do you want to know where to find the successful entrepreneurs? (And by this, he means the absentee business owners.)

His answer...

He said, go to the golf course on a Monday morning. Among those people playing golf, you'll find the successful entrepreneurs - meaning the successful absentee business owners.

And how does my friend know this? It's because that's what he does! He likes to play golf on weekdays, when everyone else is at work. He knows it from experience!

(As an absentee business owner himself, of course, he can do that...)

Best wishes,

Dien