Nearing the end of 2009, Ric Elias made a decision that would make most entrepreneurs cringe: He ceded control of his day-to-day business operations to four of his managers.
Though it was a difficult decision to make, Elias says that it not only made his life more manageable, but it helped the company grow.
"I don't think it's a shock that we grew from 350 employees to 1,250 employees," he said at the Inc. 500|5000 Conference. "That happened because they're better than me at doing a lot of things."
And, he added, "We're so much healthier as a company."
Let us know in the comment section below about how giving up control at your company affected your business.
Ric Elias: Why I Hired My Replacement
Elias, the co-founder and CEO of Red Ventures, explains how he grew his company by giving up control.