Why should an employee with a 9-to-5 go above and beyond for a company that pays them a fixed salary? That's a valid question, and many feel the same way. It's not about working harder for someone else's gain; it's about investing in yourself. When you go above and beyond, you're building a reputation as an indispensable team member, and you're gaining skills and experience on someone else's dime. Think of it as on-the-job training for your future. The things you learn, the mistakes you make and the problems you solve are all part of your own personal growth, preparing you for the next level, whether that's a promotion or starting your own business.

How can a business owner get their employees to adopt a business-owner mindset? The first step is setting clear expectations from the beginning. During the hiring process, you need to be transparent about the company culture and what you expect in terms of ownership and responsibility. This helps avoid unmet expectations later on. Beyond that, it's about creating a culture of ownership and providing incentives for it. If you want your employees to go above and beyond, there has to be a benefit for them, whether it's monetary, a piece of the profit, or simply acknowledging their efforts and rewarding that initiative.

Why is it so difficult to get employees to take initiative? It's a common frustration for business owners. It often comes down to the environment. If the business looks at its employees as just a number, employees will treat the job the same way that number is on their paycheck. They might not feel a sense of loyalty or see the bigger picture. We have to start cultivating a culture where employees feel like they are a part of something bigger and that their contributions matter.

Watch the full episode at https://youtu.be/SgQ-G-3f0JA
and read more in THE ASCENT | 012.