Why Business Owners Must Stay Involved – Lessons from Elon Musk’s Recent Shift
Recent news about Elon Musk offers a timely reminder for business owners about the risks of losing focus on their core operations. After Tesla reported a sharp drop in profits and sales at the start of this year, Musk announced he would “significantly” reduce his involvement in his US government role with the Department for Government Efficiency (DOGE), refocusing more of his time on Tesla.
We are not here to discuss the politics of Musk’s government involvement, but the situation highlights a critical lesson: business owners need to stay actively engaged in their businesses, particularly during challenging periods.
When owners become too distracted by external commitments, even capable managers may struggle to maintain the same vision, energy, and strategic oversight that a founder or key leader brings. It can lead to slower decision-making, misaligned priorities, and missed opportunities – all of which can erode performance over time.
That’s not to say leaders must micromanage. Effective delegation is essential for growth. However, delegation requires structure, including:
- Setting clear expectations and goals.
- Regularly reviewing key metrics and financials.
- Staying close to strategic decisions, while trusting managers with day-to-day execution.
- Maintaining visibility with customers, investors, and employees.
Delegation without accountability can quickly become abdication – and the business can drift off course before the owner realises.
Musk’s pivot back to Tesla underscores how important it is for business leaders to balance external ventures carefully, especially when core performance starts to slip. Active leadership remains one of the greatest competitive advantages any business can have.