How Does Your Mindset Impact Profits?

I am not talking about attitudes but mindsets, the actions and behaviors that can be seen in the way people approach doing their work.

Bob Ebers has coined the terms "OWNER-RENTER-VISITOR" mindsets and these can be quantified in a way to predict their impact on a company's ability to generate profits.

Take the case of a newly appointed Senior Vice President who took the risk to find out where his people landed in this mindset scheme and then have them meet as a group. Would you predict most of his VP's had an owner mindset? If you did, you are dead wrong. Most were renters. Fortunately none were found to be visitors...but some were close.

Here's a twist on reality: in some groups we found that the VP was a renter but their direct reports were ranked as having an owner mindset. Could this be the case of managers being too hands on, poor delegaters, micromanagers or focused more on improving people without a good old pat on the back once in awhile?

Whatever the labels, virtually all managers in this group agreed that they could all become more "owner" in their mindsets AND discovered ways they could help their people move from renter to owner. Best of all, the numbers back up their new strategy...and the increased profits that were forecasted would directly impact take home pay!