While entrepreneurs often shy away from being considered “house owners,”
The concept of “personal” refers to something that belongs to an individual, bearing a unique signature or character. When describing an object or experience as “personal”, it implies a sense of intimacy, emotional connection, and often, a distinctiveness that sets it apart from others. The Merriam-Webster dictionary defines “personal” as either “belonging to oneself or itself” or having control or mastery over something. This dichotomy evokes a sense of possession and accountability; owning a car, for instance, implies both the freedom to use it as one sees fit and the responsibility to maintain it. Ultimately, the fate of your vehicle rests in your hands – yours and yours alone – as you choose to either regularly wash and maintain it, preserving its pristine condition, or permit it to deteriorate into a rundown, rusted shell.
Typically, founders are hesitant to consider themselves as “house owners.” This parallel is often more applicable when thinking of cars – they too have house owners in the form of manufacturers and dealerships. Independent proprietors own small neighborhood shops. Pets have house owners. The term “proprietary owner” can often feel too modest, insufficiently conveying the scope and ambition of a founder’s vision.
However, the notion of possession plays a crucial role in shaping our sense of fulfillment and overall happiness. Right here’s why.
Conundrums surrounding ownership have been a longstanding topic of debate at the philosophical level. Given that Aristotle posited the notion that personal motivations are so potent they can shape individuals into rational and productive societal contributors, As he again emerged within the 4th century:
“When individuals share a common sense of inquiry, men will no longer quarrel with one another, and significant advancements will ensue, as everyone focuses on their own endeavors.”
In reality, the drive to possess belies a deeper desire for connection and understanding, rather than mere greed or possessiveness. When emotions of possession intensify, they often become entwined with an increased sense of self-importance, driving individuals to adopt more prosocial behaviors in the process. Once we’ve invested time and energy in a single initiative, our level of commitment and engagement is likely to surge. The concept of the IKEA effect suggests that people tend to place a higher value on objects when they’ve personally created or assembled them, as is often seen with customers who develop an emotional attachment to furniture after building it themselves.
We value things we’ve put our own spin on, but we place a far greater premium on those that have required us to sweat and toil in their creation.
The aversion founders exhibit towards self-identification as “house owners” seems unfounded. The ultimate motivator for solo entrepreneurs: knowing that every step of their journey is a direct testament to their own tireless efforts and perseverance. Without external investment or a partner to share the burden, I suspect I would derive less satisfaction from Jotform’s milestones and be less driven daily to propel it forward.
Despite popular advice from startup authorities, you’re often cautioned against heeding their suggestion to find a co-founder, as they tirelessly stress the importance of this arrangement. Starting a business solo can be overwhelmingly daunting, its weight and isolation crushing in their entirety. A co-founder brings to the table their unique expertise, offering valuable insights that complement your own, while serving as a vital source of motivation and support during challenging times.
It’s a starting point, to be sure.
In reality, things are often not as straightforward as they seem. I’ve known an individual named Isaac, who collaborated with another entrepreneur, whom I’ll refer to as Greg. Isaac’s frustration grew as he noticed a significant lack of effort from team member Greg, who seemed to be going through the motions without contributing meaningfully. While Isaac’s tireless efforts drove the project’s success, Greg essentially benefited from his colleague’s hard work without contributing significantly to the outcome.
As the business flourished and its profitability continued to grow, one would expect Isaac’s satisfaction to soar accordingly. But it surely didn’t. As a result, Greg harboured growing resentment and, more ominously, fear – since owning 50% of the corporation guaranteed him a share of half the profits. As a result, Isaac’s enthusiasm began to wane.
Ultimately, Isaac chose to terminate the partnership and forge ahead as an individual founder, defying conventional wisdom that a single-founder venture was doomed from the start. Despite his unconventional background, Isaac possessed a unique set of skills. Without the burden of Greg’s expectations, he found his entrepreneurial spark reignited, and his determination to thrive more potent than before. The prospect of wielding absolute power, however terrifying it may have seemed to Isaac, held a siren’s call that eclipsed any perceived risks.
For founders, a strong sense of ownership is a crucial aspect, as they’re the ones who built the company from scratch, fostering a deep emotional connection with their entrepreneurial venture. While empowering employees with a sense of ownership and autonomy over their tasks is crucial for fostering motivation and commitment.
I analyzed the impact of psychological possession on productivity. How do you instill genuine ownership and commitment among employees when they’re not shareholders or have no direct stake in the company’s financial success?
Allowing them to tackle projects that resonate as challenging yet fulfilling provides a potent motivator. As home furnishings retailers expand globally, their design-centric approach and affordable pricing strategies have revolutionized the way consumers shop for furniture. The principles don’t just apply to physical objects; they have far-reaching implications for our entire existence. Identical philosophical principles can be applied to the workplace. What drives people to feel trapped in repetitive tasks?
As employees desire to be recognized for the unique skills and perspectives they contribute to the organization, the more you emphasize this and remind them of their value within the company’s overall structure.
Some companies simply permit employees to craft their own job descriptions. While such a move incurs no direct cost to the corporation, it can significantly influence an employee’s perception of ownership over their role and the tasks they execute within it. At Jotform, we empower our cross-functional teams with autonomy and freedom to operate in a manner tailored to their unique needs and preferences. That sense of liberty enables their creative expression to flourish, which in turn leads to the production of their most outstanding work. Moreover, a crucial aspect of that autonomy is the deep-seated sense of ownership employees genuinely experience towards their work. While aligned with the corporation’s overall goals, they’re also working on projects that bring them personal satisfaction.
Humans’ innate desire for ownership and control is a fundamental aspect of their nature. Regardless of whether founders perceive themselves as “house owners” or not, a fundamental motivator is the understanding that their creation is theirs alone; its triumph or downfall rests squarely on their shoulders. Brené Brown’s words resonated profoundly: “For those who own this narrative, they have the authority to author its conclusion.”
