The responsibilities of being a homeowner are much more than that of a renter. When you own a home, you maintain and make improvements to it whenever you can. When you rent a home or an apartment, you do your best to not break anything, and call your landlord when something needs to be fixed. As a renter, you don’t usually spend your own money or time on the property because you’re usually only there temporarily. You have the option to look past certain issues, rather than addressing them. The owner’s mentality is one that can be mirrored in the way you think about your life and business. You are directly responsible for your actions, thoughts, belongings, and overall impact on your surroundings. So, rather than kicking back and relaxing like a renter, take ownership of your life and direction!
Passion and Commitment
An owner doesn’t just have the responsibility for their investments, they build their lives around them. They have an instinctive passion and commitment toward maintaining and building the value of those investments. An owner’s level of drive and focus are directly related to the consistent development of their skills and abilities (think of these as assets, too!)
Although it can be exhausting, routine upkeep of investments is a necessary role of ownership. You may let maintenance like this slip your mind occasionally but catching up on the care of your assets upholds their value.
If your investment is a vehicle, then you’ll keep the interior and exterior clean. You’ll also make sure that the vehicle is inspected frequently and receives regular oil changes and fluid replacements. If your investment is a property or home, you’ll make sure that all of its plumbing and electrical components are functioning properly, and that there’s no structural or superficial damage. If your investment is a business, you’ll make sure that your team and customers are taken care of properly, whatever that entails for your industry.
Caretakers of Your Investments
When you’re in possession of something valuable, you might be more careful about choosing who you trust with it. If it’s a car, you’ll probably only let specific people drive. For a home, you might have a small list of people who you’d trust to watch it while you’re away. If you’re a business owner, you’ll want to compile a team of reliable and trustworthy people.
Build a team who understands what the business means to you and will duplicate that pride and passion in their own level of care. It’s important to make your team feel as if they are part owners in the business.
Entrusting your team with your investments isn’t always easy. But when the team feels equally responsible for your investments, they might take more care to improve them—or at the very least, upkeep them. Whoever you choose to trust with your investments, make sure they’ve earned that privilege and know how to maintain or increase the value of those assets.
For example, if you need to leave the country for a networking event, you want to know that your team will keep your business running while you’re away. Whatever this means for your business depends on the industry you operate in. It could mean trusting your team to serve and communicate with your customers. Or it might require them to keep your products stocked based on demand. No matter the tasks, having a team that has a sense of responsibility and ownership toward your business is extremely beneficial.
Own Your Actions
Even if you don’t have any significant investments, you should at least hold yourself responsible for the things you say and do. There’s nothing wrong with becoming more aware of your actions, words, and their effects. Be more conscious of your choices. You’ll take more care to ensure that your actions and words add value to your life, your livelihood, and more importantly—the lives of those around you. Having an ownership mentality is also one of the qualities of a great mentor. To find out other characteristics of exceptional mentors, read our blog!