Take Ownership

I had the great pleasure this afternoon of attending the meeting of a family-owned company in which two brothers who've been at it for thirty years sold their multi-million dollar firm back to the employees who helped them build an empire.

The younger of the two (now in his fifties) spoke specifically about the value of "taking ownership." All who stride into the ether hoping to create a business on the web can find value in his wisdom.

He made five solid points about ownership, what it means and why we need to take it seriously. Here is my interpretation of his thoughts:

1) It's my (the owner's) responsibility to grow my company. "If a company is not growing," he said, "it is going backward." It's true. There's no such thing as a plateau. It's more like flying an air plane. If you're not gaining air, you're falling out of the sky. Growth is essential and growth is always the responsibility of the owner. It can't be pawned off on hirelings. If you are the owner, then that's what you do! You own what you do and you do it therefore. You oversee growth and you oversee those who help you attain it.

2) Your company must be profitable. Without profit you are not growing. No gain means you are falling away from your customer support. Profit isn't there for pleasure. It allows you to acquire the necessary technology and equipment to stay abreast of fast changing times. Having a website is not enough. It's your responsibility in ownership to ensure profit to your venture.

3) Success is founded on customer service. Without it, you lose your customers. If you're an information byway on the information highway, you're not giving enough knowledge in your field. You've got to make it "click easy."

4) You have to provide a quality product. Let's face it. Surfers have far too many options where to go. Want them back? Give them what they came for in the first place and give them plenty of it. It's got to be quality: quick, easy and satisfying. Or they won't return.

5) Build a team. Let the players in. Give them a forum. Let them show their stuff too. Remember, you're the owner. Own what you do, but let your customers show who they are. Give them space and they'll return.

Passing the baton of ownership, this highly successful executive, his brother and his team took their company from ground zero to competitive national trade in the food industry with revenues surpassing $100 million annually. They did that from hands-on no money days in the beginning to wealth in the end because they took ownership.

An owner does what he is, male or female. The owner owns up to the task.

What do you think?