it's not fully automated.
No business truly is. Good systems are the answer.
But, you can own a business and have others run it for the most part for you.
If this is the case, then yes; you can move on to other businesses.
There are loads of examples where one person owns many branches of one main business, but never works at any of them per se.
The guy who owns Costco for one example, or the guy who owned Crazy John's phones, John Symond of Aussie Home Loans, etc.
I had 3 weeks off in June to go and reno our IP interstate...the place ran beautifully without me. Just what I want to see.
3 weeks is only a tiny window, but you see what I mean.
The trick is to be able to own the business and not be the person the customers need to see. I am trying to gradually create a climate at my workshop where the customers never see me, and never ask for me, and never need to ask for me.
This was how it used to be in the golf industry; everyone wants to see YOU....you are trapped, because you are the expert. That's no good, unless you have a very big ego and crave the attention and adulation. I don't - I just want the money and the free time.
Get rid of that "need to see the boss" situation and then you are truly free from having to work "in" the business.
Does anyone ever ask to see the boss of Target, or Myer, or KFC when they go in? No. Maybe the Manager.
That is hard to do in the Healthcare industry, because many doctors/surgeon's business is them and their reputation.
Unless you own a clinic or 10. That would be the way to do it, China.
Maybe that is where your investing dollars should be headed? Employ the best of your field (other than yourself of course!) to run your affairs for you, pay them well, and receive your share.
I know speaking for myself that if I had some useable equity/dollars right now; this would definitely be a consideration as a silent equity partner for some enterprising health care professional.
One of our very good friends is a successful Aged Care Centre Manager. We have discussed opening one with her as a JV down the track already...either buy a run-down one, or build one from scratch. Prefer to buy the run-down one and buIld it up - that is her expertise.
My wife can/could work some hours, and the friend would manage it - both in the early states to get it up and running, and then we all basically run it on a very part-time basis and employ staff.
Last edited:
