Owner, business owner, own, ownership… what does it mean to own something?

Well, today, we’re going to take a look.

And there are three key elements that we’re going to address: Nature, Scope, and Direction.

The nature of ownership — at least in a business and entrepreneurial context — is about responsibility. However, it is not about guilt, blame, or shame. That goes for self. That goes for other. The name of the game is responsibility. Because if the locus of control is inside my gates, I can do something about it. If I make you the source of the issue, my options become significantly more limited. But pointing fingers and knocking people down — self or other — will never sustain a profitable long game. Responsibility, not blame.

When it comes to scope, most people are good at one side of this coin or the other. They can either own their mistakes OR they can own their successes. And you probably know people who go to the extreme on both sides — braggarts who constantly flaunt their wins, and those who have perfected self deprecation. As a leader — which as a business person and entrepreneur, you most certainly are — you need to be able to Own. It. All.

So if you know which of those sides of the coin you’re “better,” at, it’s time to start practicing the other. If you know how good you are, take humility for a test drive. If you constantly struggle believing the positive reflections of others, it’s time to start adding rewards to your projects, getting acknowledgment on the regular, and a few other positive additions I’d be happy to share off line. You’re better than that. You’re worthy.

And lastly for today, which direction are you going? There’s a difference between taking ownership inwardly — sucking it all up so the bomb doesn’t go off — and stepping up into a space. Leaning in to create a clearing. You’ve likely experienced this in the various kinds of apologies you’ve heard corporate entities make when they make a mistake. Some seem a bit more, let’s say genuine than others.

When taking ownership of a set of circumstances or consequences, one question to ask is, “Am I/Are they expanding or contracting?”

In summary, we are all owners. How are we practicing our ownership?

You can always take a look at Nature, Scope, and Direction.

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