Successful business leaders—regardless of the actual position in the corporate structure—must consistently “act like an owner”. By this we mean that they view the business as if it were their own. This means continually working to help the company to grow and prosper. Effective owners focus on ensuring that their product or service is one that a client is willing to buy and that will produce revenue and profit. They are constantly vigilant for proper resource allocation and alert to potential crises in order to have contingency plans to help the company survive.
By “acting like an owner”, you ensure that your efforts, and that of the group you lead, will be consistent with, and supportive of, the overall goals and best interests of the company. In order to “act like an owner” you must build a strong team around you and be a role model of the company’s principles and values because your behavior will be watched and emulated. In addition to demonstrating passion for the work to successfully “act like an owner” your behavior should include:
- Setting a clear direction and strategy that staff can understand and be proud to be a part of
- Recruiting and hiring outstanding people who will “fit” with colleagues
- Building partnerships with clients based on outstanding service
- Setting high standards and accountability both as producer and corporate citizen
- Building a performance-based climate where each staff member understands their role and value add
- Exciting, motivating, challenging, and inspiring colleagues
- Demonstrating consistent leadership in good and hard times and showing resilience
- Listening attentively and debating vigorously yet with care for others feelings
- Communicating effectively to keep others informed
- Being flexible when change is required and quickly adapting
In this way, you will define acceptable behavior and lead the way to success.