Review of Ownership Thinking: How to End Entitlement and Create a Culture of Accountability, Purpose, and Profit by Brad Hams
As I read Ownership Thinking, I couldn’t help but think of some consistent concepts that keep getting repeated: open communication, including others and listening to their opinions, entitlements are the worst and it all boils down to revenue. This book, and presumably the late Brad’s consulting group, tells leaders that in order to get their team members to bring in more revenue, leaders must include the team more on how they and the company can improve. I took away a few great concepts I want share below.
People prefer accountability. This rings true to me on a deep level. I know that I need to be working towards something, I need a goal. Reading Ownership Thinking reiterates that I need myself and anyone I work with to consider the big picture from time to time and think of ways to improve. I then suggest the improvements to the team and move forward with a plan. Second, the best incentive plans are self funding. I want to reward myself and others, but not at the expense of everyone on the team. Self funding makes sense in my mind, work hard, get rewarded. If you or the team fall short, then no reward. Third, I need to take an entry-level accounting class. Quite frankly, the profit and loss statements and revenue charts are above my head right now and that is an area that I can improve in. Just add that to the list.
Overall, I recommend Ownership Thinking. I was sad to learn that Brad had passed away but I’m thankful he embellished this book with his wisdom. The last piece I’ll end with is the ‘Adult Contract’. Expanding just a bit, ‘Adults don’t argue with reality’. Adults learn what they can, listen and make a decision. When you recognize you can improve in an area take the steps to make it happen. Thank you Brad for writing Ownership Thinking.
You can purchase the book here from the book’s website: http://www.ownershipthinking.com/bradsbook.html
Check out my previous book review here.