So what exactly is stewardship in the context of a small business?
At its core, stewardship is the act of taking care of something that has been entrusted to you, often on behalf of others. Traditionally, in a business setting, this was interpreted narrowly as maximizing value for shareholders. More recently, some have equated stewardship with sustainability—caring for our planet and its limited resources.
While the environment is undeniably an important stakeholder, it is one part of the broader picture. As used in my new book, stewardship refers to the responsibility of a small business to create enduring value for all of its stakeholders—including shareholders, employees, customers, suppliers, one’s community, and the environment.
Have you ever thought of yourself as a good steward?
Most small business owners haven’t. It’s not a word that comes up much between payroll, inventory, and customer calls. But stewardship isn’t about titles—it is about how you show up every day. If you consistently go the extra mile for your employees, chosen a supplier because they treat their workers well, or absorbed a cost so your customers wouldn’t have to—you have already begun to practice it.
In my new book, Changing the World through Small Business Stewardship, I make the case that you build a legacy by doing great, and by doing good. And when you get more intentional and focused on stewardship, using the strength and durability of your small businesses, the impact gets bigger, stronger, and more lasting for everyone you serve. Practicing stewardship goes far beyond the occasional good deed.
Stewardship is a core operational mindset—baked into how a small business runs, serves, and grows. In my book, I want to help small business owners:
- Do the job professionally, with a formal Stewardship Plan
- See how a more intentional, balanced approach can strengthen their business
- Broaden their view of who they’re responsible to—not just owners or the planet, but all stakeholders
With 500 million small businesses around the world, learning to be a good steward really can change the world!
