Owners perform at a different level than everyone else.
1. They pay attention to the details
2. They address roadblocks and barriers when they arise
3. They think about ways to improve the business
4. They focus on all aspects of the business not just one tiny part
5. They do whatever is needed
Now here’s the reality. Being an owner is a mindset regardless if your name is on the legal documents as the owner of the company. And here is the great news, you can instill an owner mindset into every single person at your company.
I told the CEO of a multi-billion-dollar oil and gas company he needed to fire all of his employees. He looked at me and said, “What are you talking about, I can’t fire all my employees.” I said, “You don’t want employees; you want people who act like owners.”
After writing A Company of Owners, I have spoken on this concept all over the world. The idea resonates strongly with leaders who would love to have just that – A Company where everyone acts like an owner.
I am often asked the question “How do I get my employees to act like owners?” by C Level Executives and other leaders.
If you want people to Act Like an Owner, start by doing these things.
1. Treat them like an owner
2. Frequently ask them what they would do differently if they owned the company
3. Invite them to be self-governing rather than having to ask permission for things like taking time off, when they arrive and leave, going to lunch early, etc.
4. Asking more questions and giving fewer directives. E.g. “Here is an opportunity, how do you think we should approach it?” vs. “Go do this regarding this opportunity.”
5. Rewarding them frequently and in multiple ways for their performance. Make sure they share in the bounty of their efforts through praise, power
(put them in charge of more things), and profits.
Frequently ask what they need and how you can help or support them. Look for ways to make their jobs and lives easier and better.
As a leader, the rewards are immense when you create a Company Culture where everyone acts like an owner.
1. There is a whole army of people watching out for the business, not just you.
2. Ideas and innovations emerge frequently and are implemented.
3.Production, Performance, and Profits all
4. Recruiting and retaining top talent is automatic because top talent wants this kind of Company Culture.
5. People love coming to work and put forth their best effort.
Watch this account of how a janitor made a company millions of dollars and became an Executive with one of the largest companies in the world because a leader told him to Act Like an Owner.
Go create your Company of Owners and reap the rewards.
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