Can you imagine coming to work every day to find your business running smoothly and efficiently with very little input or effort on your part? Your team members are invested in and excited about the work; they think like entrepreneurs and take initiative. Instead of spending your time bogged down in details, answering endless emails and approving every decision, you can focus on the big picture. It sounds like a dream, right?
Invested and empowered employees and an efficiently run business are not only possible but essential if you want to grow your company and achieve financial freedom. You have to decide to be a business owner instead of simply a business operator.
Like most things in life, change has to start with you. Whether you are changing an organization, a company, a community, a country or the world—it all begins with the simple step of changing yourself. You have to become an exceptional leader.
Anyone can be a leader. Leadership isn’t dependent on titles or official positions. It can be learned, practiced and developed. Executive coaching for entrepreneurs can be a valuable resource in developing leadership skills.
At its core, leadership is about influence — influencing the thoughts, emotions and actions of others for the greater good.
Too many companies are built on a culture of compliance. Individuals do the bare minimum and then wait for instructions. They are just there for a paycheck; they don’t feel like it is their business.
But if you can shift your employees' mindsets so that they feel true ownership, you will unlock their potential. You will create an environment that fosters passion, creativity and innovation.
"The most valuable resource you have is the people you surround yourself with. If you inspire them, empower them and lead them with vision, there’s no limit to what you can achieve together."
Great leadership is not micromanaging every detail of your company. Great leadership is servant leadership. Exceptional leaders have a vision for their business that goes beyond themselves, and they unite their team behind that vision. They get to know the strengths of their employees and empower them to make meaningful contributions. They know perspective matters, so they listen to their team members and trust their advice and decisions. A real leader creates other leaders.
You want a business that works for you. You became an entrepreneur because you didn’t want to be in the trenches every day, punching a clock from 9-5. To make that transition, you must stop seeing yourself as a business operator and think like an owner. Then, you need to empower your team to think, act and make decisions like owners as well. This allows you to achieve the freedom to live on your own terms.
Operator vs. owner
The biggest hurdle to unlocking a culture of ownership is changing your mindset. You have to view your role as a leader differently. That starts with understanding the difference between being a business owner versus simply a business operator.
Business operator
Many “business owners” are actually just operators. An operator is deeply involved in the day-to-day tasks of running a business. Tony Robbins likes to say that they work in the business rather than on it.
A business operator handles most, if not all, of the business decision-making. They have not delegated effectively and often spend significant time on tasks that others could do. Business operators frequently feel overwhelmed and overworked. The business can’t run without them, so they spend long hours working, and it is hard to leave for vacations or family time.
If you are an operator, scaling your business is very difficult because you are the bottleneck. Your time and energy are limited resources, and thus, they limit the size of your business growth.
Business owner
On the other hand, a business owner's objective is for the business to operate without them. A business owner creates systems that can function and thrive without their involvement.
A business owner delegates effectively. Figure out what it is that you are best at. What is your zone of genius? Where do you add the most value to your business? Do that, and delegate everything else.
“If you try to do everything yourself, you dilute your focus and energy. Delegate what others can do so you can focus on what only you can do.”
Business owners create systems, processes and procedures that keep the business running. Good systems lay a foundation for scaling your business. When business owners trust their team, delegate most of their tasks and set up systems to keep things running, they are free to focus on strategy and innovation.
Creating a culture of ownership
The culture of a company is a reflection of its leader. When you demonstrate responsibility, collaboration, respect, empowerment and vision, your team will follow.
Here are some concrete ways you can build a culture of ownership:
Lead with vision
People will act when they know WHY they should do something. Great companies are committed to a bigger purpose. When your employees feel they are contributing to something meaningful, they will feel more pride in their work and be driven to take ownership.
Give employees authority
You can empower your team by giving them the authority to make decisions and take initiative. Encourage them to tackle problems creatively and be proactive about creating solutions.
Zappos' mission is to deliver WOW to its customers. It does this by empowering all its employees to make decisions without needing the approval of managers. Employees can issue refunds, send replacement products or even send personalized notes to take customer service to the next level.
Set clear expectations and hold everyone accountable
Employees will thrive when they know exactly what is expected of them and what success looks like. Clear guidelines allow employees to take responsibility without a business owner needing to micromanage.
Accountability starts at the top. As the leader, you have to own your own mistakes. Accountability should be positive, not just a punishment. Celebrate successes and treat mistakes as opportunities for growth.
Foster open communication
You will empower employees to take ownership when they feel their voices are heard and their opinions matter. Be transparent about any company challenges and be open to feedback.
LinkedIn and a culture of contribution
Jeff Weiner, the former CEO of LinkedIn, is widely recognized for creating a culture of ownership and contribution at LinkedIn. He did this by first honing his own leadership skills. He used professional coaching, which he credits as being highly influential in his professional growth and success.
He then went on to create a culture of leadership at LinkedIn. He encouraged all his managers to take advantage of executive coaching and then take what they learned and coach their own employees. He prioritized professional growth by offering employee training, development, business coaching and mentoring.
According to Weiner, “By coaching leaders in your style, you can expand your leadership reach and free yourself up for more big-picture tasks. That’s how you truly scale an organization.”
Weiner led with a clear vision for LinkedIn: “Create economic opportunity for every member of the global workforce.” This vision gave employees a sense of purpose and meaning in their work.
He focused on compassionate leadership, believing employees would contribute their best work and take responsibility for outcomes when they felt heard, supported and valued. His approach worked—under Weiner’s leadership, company revenue surged from $78 million in 2008 to $7.9 billion in 2020.
Whether you are a Fortune 500 company or a small business just getting off the ground, creating a culture of ownership will pave the way for your growth, success and freedom.
