To get team to ‘own’ their work, maybe make them owners

by | Sep 19, 2013

Many small-business leaders talk about the concept of ownership, that they want their teams to “own” the goals they set out and the methods to reach them.

For Dean Willer, attorney with Winthrop & Weinstine and an Upsize Growth Challenge expert, the incentives and compensation for top people need to align with that idea. “If you can get into people’s livelihoods, it speaks louder and clearer,” Willer says.

He notes that once founders get their top teams in place, other companies will try to poach them. He recommends profit-sharing or even equity stakes. Whatever the plan is, the goal is to make sure if the company does well they do well.

Building that team is important for many reasons, including this: A lot of entrepreneurs make bad CEOs when the company gets bigger. “You’ll have to make that internal shift to commit to processes you’ve put in place,” Willer says, as a company grows. And if that’s not your forte, you can rely on a well compensated team.