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Can you really be an absentee owner?


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  • 7 months later...
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. 

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  • Have you checked out Joe's Latest Blog?

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      It always amazes me when I hear about a technician who quits one repair shop to go work at another shop for less money. I know you have heard of this too, and you’ve probably asked yourself, “Can this be true? And Why?” The answer rests within the culture of the company. More specifically, the boss, manager, or a toxic work environment literally pushed the technician out the door.
      While money and benefits tend to attract people to a company, it won’t keep them there. When a technician begins to look over the fence for greener grass, that is usually a sign that something is wrong within the workplace. It also means that his or her heart is probably already gone. If the issue is not resolved, no amount of money will keep that technician for the long term. The heart is always the first to leave. The last thing that leaves is the technician’s toolbox.
      Shop owners: Focus more on employee retention than acquisition. This is not to say that you should not be constantly recruiting. You should. What it does means is that once you hire someone, your job isn’t over, that’s when it begins. Get to know your technicians. Build strong relationships. Have frequent one-on-ones. Engage in meaningful conversation. Find what truly motivates your technicians. You may be surprised that while money is a motivator, it’s usually not the prime motivator.
      One last thing; the cost of technician turnover can be financially devastating. It also affects shop morale. Do all you can to create a workplace where technicians feel they are respected, recognized, and know that their work contributes to the overall success of the company. This will lead to improved morale and team spirit. Remember, when you see a technician’s toolbox rolling out of the bay on its way to another shop, the heart was most likely gone long before that.
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