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Encouraging An “Owner’s Mindset” in Your Team
Use Open Book Management to boost ownership by sharing key financial metrics and showing how each team member impacts company success.
Encouraging An “Owner’s Mindset” in Your Team
Insight from Wall Street Mojo
Ever notice how hard it gets to keep everyone rowing in the same direction as your team grows?
Turning employees into owners can be easier than you think. It might be as simple as giving them a peek behind the curtain
Open Book Management (OBM) is a leadership approach where you share your company's financial and operational data (everything from revenue and costs to KPIs and forecasts) with your entire team.
Think of it as giving everyone access to the company scoreboard instead of keeping it locked in the executive suite.
If implemented the right way, teams naturally start thinking like owners because they finally see the whole game they're playing.
You get smarter decisions because everyone understands the context. Your people start spotting cost-saving opportunities that leadership missed. And perhaps most importantly, engagement skyrockets because everyone can see exactly how their work moves the needle.
But open book management isn't for everybody.
If you're in a highly competitive industry where financial data could be valuable to competitors, the risks might outweigh the benefits.
It might not be the right move if your company is going through a rough financial patch - sharing bad numbers without a clear turnaround plan can tank morale.
And if your team lacks basic financial literacy, dumping numbers on them without proper training could just be more confusing than helpful.
Interested in trying it out? Here’s how you can dip your toes in:
Start with a single, relevant metric - maybe it's customer LTV or monthly recurring revenue.
Build and regularly update a scoreboard (physical or digital) where everyone can track progress.
Run weekly huddles focused just on that number, teaching your team how their daily work moves it up or down.
The key isn't in the numbers themselves - it's in building that ownership mindset.
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