There are 63 basic differences we have identified between absentee owners and owner operators. When it comes to general attitudes on business...
Owner Operators |
Absentee Owners |
- Focus on providing the cheapest prices.
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- Focus on providing the best customer service.
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- Penny pinchers. Try to save every penny.
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- Willing to spend money on customer service.
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- Demand employees to be perfect.
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- Willing to accept what is less than perfection in their eyes.
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- Have a hard time trusting employees.
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- Trust employees to make decisions.
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- Control freak
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- Not as controlling
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- Insist that they know it all, and that no employee can do as good a job as they can.
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- Believe that employees can do as good a job as they can, perhaps even better.
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- When there is a problem, jump in and fix it themselves.
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- When there is a problem, delegate.
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- Favorite quote: “If you want something done right, do it yourself.”
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- Favorite quote: “If you want something done right, hire the right people, implement the proper systems, train them to do it right, and trust them to do it right.”
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- Heavily focused on what the competitors are doing.
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- Aware of the competitors, but not focused on them.
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- Their business could be taking them ahead financially, setting them back, or bringing them nowhere.
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- Understand the role of the business in their personal wealth.
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- Do not know how to hire or keep a good manager.
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- Know how to hire and keep a good manager.
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- Do not give the manager enough responsibility.
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- Know what tasks they should do personally, and what tasks should be delegated to the manager.
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- Think they won’t know how their business is doing if they are not physically present all the time.
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- Know exactly how their business is doing even as an absentee owner.
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- Have unrealistic expectations of how long it would take to become an absentee owner.
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- Know how long it would take for them to become an absentee owner.
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- Think that if they become an absentee owner, they will never have to deal with anything again.
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- Know that even as an absentee owner, there will still be things that the owner needs to personally deal with.
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