One Meeting Minute Thought for Your Week
The best leaders know how to think like an owner, even when they’re an employee and not the actual owner of the business.
This mindset serves them well and it will benefit you too in all areas of your work – including your meetings.
But, how do owners think?
What it means to think like an owner
An article on Indeed.com’s website defines an ownership mindset like this:
“An ownership mindset is a conviction that each individual is accountable for the standard and consequences of their efforts at work.”
That means, based on the incredible number of hours people spend in meetings at work, this is also true:
Each individual in a meeting (the leader AND participants) is accountable for the standard and consequences of their efforts.
That’s a much higher bar than many people set for themselves when it comes to meetings.
In other words, most people do NOT think like an owner in meetings.
Can you imagine how much better meetings would be in your organization if every one of your coworkers learned to think like an owner?
Your meetings (and your entire business) would be highly productive and effective.
But, thinking like an owner isn’t enough.
You must also act like an owner.
You have to turn your owner mindset into behaviors.
Let’s take a look at what owners think about and how this impacts their behavior.
Owners think about – Communication
When I think like an owner, I recognize my responsibility to communicate clearly and concisely in every interaction.
This includes sending information (talking) and receiving information (listening).
In meetings I invest time to prepare in advance to ensure my communication is crisp and effective so others don’t waste time trying to understand what I’m struggling to say.
This also means I collect my thoughts before speaking and don’t ramble during meetings.
Owners think about – Accountability
When I think like an owner, I am open and intellectually honest and hold myself and others accountable for responsibilities and actions.
In meetings I deal with reality and talk about how things really are – not how I would like them to be.
It means I readily commit to completing action items and deliver them when I say I will.
And, I expect others to do this as well.
Owners think about – Perspective
When I think like an owner, I consider multiple viewpoints.
I learn to:
- Zoom in – don’t assume it’s someone else’s job to fix even the smallest problems.
- Zoom out – think about ensuring a future for the next generation of employees.
In meetings I add my perspective considering the “big picture” as well the details of specific items being discussed.
I include a diverse set of participants in the meetings I lead to ensure our entire business and our customers are protected against blind spots and siloed thinking.
Owners think about – Investment
When I think like an owner, I evaluate allocations of resources (time and money) from a perspective of personal ownership.
I ask “What would I do if I owned this company?”
I lead my meetings as a steward recognizing that each participant has entrusted me with their most valuable resource – their time.
Owners think about – Objectivity
When I think like an owner, I set objective standards for measuring performance aligned with business goals and strive to minimize the impact of biases.
In meetings I am aware of my own biases and am continually on guard to prevent my personal motivations from negatively impacting the conversations and decisions.
Owners think about – Courage
When I think like an owner, I make decisions without unnecessary delay recognizing the opportunity cost of not taking action.
I challenge with respect even when it’s uncomfortable – for me and for others.
In meetings I speak up when I should and don’t wait until after the meeting to whisper to my coworker what I really think about the decision I agreed to.
Owners think about – Trust
When I think like an owner, I act in a trustworthy manner and create an environment where every team member feels safe to contribute for the company’s best interests.
I intentionally delegate to help others develop and use their gifts and I DON’T micro-manage.
In meetings I invite input from all participants including those who may disagree with me.
When I think like an owner, I don’t attend every meeting I’m invited to.
I trust others to do good work in meetings even when I’m not there.
Think like an owner for every meeting
As an experienced leader, you know there are many more ways to apply an ownership mindset to make your meetings better.
Because when you think like an owner, you’ll see opportunities for improvements continually.
Build on the ideas I’ve shared and create your own.
After all, that’s what owners do!
More Resources to Help You Build Your Career and Your Business
The full article I referenced from Indeed.com is titled Reference: Ownership Mindset: Definition, How to Develop and Benefits (click here to read it).
It includes several other useful tips to help you improve your meetings and your overall leadership skills.
And, if you’re like me and always looking for creative ways to show appreciation to your team, you might like this article that I saved for future reference:
🔷 61 Team Appreciation Messages (And 5 Tips For How To Write Them)
The sample messages are a great place to start to find just the right words to tell your team members how much you value them and their contributions to your business.
If you want to learn more about Trust, check out Issue 28 of M4 – the Monday Morning Meeting Minute:
🔷 How To Start Building Trust In Your Meetings (click here).
I recommend one of my favorite books on trust in that issue.
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That’s All for this Issue
When you think like an owner, you think about these things:
- Communication
- Accountability
- Perspective
- Investment
- Objectivity
- Courage
- Trust
And, when you think about those things and take action based on your ownership mindset, every meeting you lead or attend will be more productive and effective.
So, think like an owner this week!
Let’s lead with kindness and confidence!
Greg
Here are 3 ways I can help you when you’re ready:
- Get more free resources you can use today (Click here to Start)
- Improve on your own with digital courses (Click here to Improve)
- Accelerate your progress with coaching (Click here to Accelerate)
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