Anything is possible, never forget that.
To your specific question: Obviously the most critical time a business needs your hands on attention is in its infancy, so being there is ideal, not being there, is not ideal. However, if you have already proven the business in other areas and you have a blue print that someone else on the ground can follow to the "t" that you trust, it could work.
Just understand the risk / reward associated with this decision.
