Transferring ownership means shifting your ideas and decisions to others so they will embrace them and act on them. It has enormous consequences for both personal and organizational buy-in. It's the difference between others feeling actively involved in their destiny and, therefore, committed to it versus feeling forced to comply. Buy-in leads people to change behaviors, decisions, and actions.
This is how leading sales executives build wealth. It's also how great leaders enable people in their organizations to meet goals and overcome power struggles. Lee Iacocca, who revived Chrysler as its CEO and president in the 1980s, was a transfer master. He inspired others by asking them to share in both the obligations and the successes of the car company. Iacocca set the right tone to convince others to buy in. In his book, Where Have All the Leaders Gone, he recalled using words such as these to transfer ownership and make things happen:
We have a tough task ahead of us. The challenges are formidable. But together we can do it. It'll take everyone—the employees, the dealers, the suppliers, the union, the government—and we're asking for your help.
A good leader wants people to own what they do and take responsibility for their actions. Transferring ownership helps build morale, retention, productivity, and sales. It also encourages commitment to you as the leader. ...