Skin in the game
What Does Skin In The Game Mean?
A term coined by renowned investor Warren Buffett referring to a situation in which high-ranking insiders use their own money to buy stock in the company they are running.
Investopedia explains Skin In The Game
The idea behind creating this situation is to ensure that corporations are managed by like-minded individuals who share a stake in the company. Executives can talk all they want, but the best vote of confidence is putting one’s own money on the line just like outside investors!
Creating new and lasting relationships. Building something entirely new. Creating something fresh from something that existed. Evolving business to a new place. Changing a culture. True innovation. Standout success. Attaining influence or authority. Building a devoted following. Change of any kind.
There’s one thing that all of these have in common…
You must invest something of personal value and worth.
It might be your ideas, your energy, or your reputation. Maybe it’s something tangible, like money or resources. Perhaps it’s a bit of all of those combined.
But leading – truly leading from within, not just sitting in a position of anointed leadership – requires an element of vulnerability that few are willing to risk. It means betting on your own hand, and being part of the things that you’re asking others to do with or for you.
If you have little invested, you have little to lose. And it’s hard to trust your intentions if you can’t be bothered to commit – and risk losing – something you value in the name of the thing that you want.
Let your team, your volunteers, your customers, peers and colleagues know what you’re willing to put on the line to achieve something. Don’t just work on a project. Don’t just build a plan and execute on it or delegate it. Invest in it. Personally and professionally. Put some skin in the game.
And let them see you do it.
Then watch how the game – and your own perspective – changes dramatically.
Are you truly ready to lead your charge?
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