One of the main reasons people go into business is to be their own boss. Being a business owner gives you the freedom to decide how you want to run your business. There is no limit on your growth or your goals – and no one holding you back from making decisions or taking risks. It’s your show!
The downside of this freedom is a lack of accountability. Who holds you accountable for success, for achieving your stated goals?
What Is Accountability Anyway?
“Accountability is the glue that ties commitment to the result.” – Bob Proctor
Accountability is one of the most important tools an entrepreneur can have in their toolkit as it allows us to stay on top of our goals and ensures that we get them done in the time needed. Accountability turns wishes into goals, goals into plans, and plans into action.
As a business owner, the most important thing you can do for your business is to be accountable and to consistently hold yourself to a higher standard of performance. This is a foundational ingredient for exponential business growth. And while being accountable may sound like a simple idea, in practice, it actually takes a lot of work.
Without a boss to hold you accountable, it can be easy to let your goals slip. To avoid hard decisions. To delay making the changes and improvements you know you need to make. If you want more success as a business owner, you need to find a way to build accountability into your business.
From my experience, here are 6 of the best ways to do that:
1. Craft a big, clear vision
With a clear vision of what success looks like for your business, you have a compass to navigate by. A clear vision helps you decipher whether a decision is good or bad for your business based on whether it gets you closer to your ideal future.
But it has to be big. If you don’t have a big, clear vision then chances are all you’ll ever see are the obstacles along the way. Also, if you’ve already figured out the how, meaning the details of how you’re going to achieve that vision, then your vision isn’t big enough.
You need to know what your business goals and objectives are. Once you have these in mind, you’ll want to share them with anyone else involved, whether they’re employees or even other stakeholders within the company. With the help of those involved, plan for how to accomplish your goals and objectives and make sure everyone else knows what they’re accountable for as well.
2. Hold your team accountable for their results
Many employees don’t really understand what their organization is trying to accomplish. As a business owner, this should scare you. After your employees have clear objectives and goals, the next step (which is also a big challenge for some business owners) is to give them room to take ownership of these tasks. In other words, no micromanaging. This doesn’t mean that you won’t provide assistance and guidance, but trust and delegation are key here.
Accountability starts with us as business owners. We have to be an example for our team. How we act, lead our teams and hold ourselves accountable will set an example for others. And this example matters in order to create a culture of accountability within the business.
3. Set deadlines and follow through
Setting a deadline for yourself is the best way to stay accountable. This may be a public deadline or a deadline that’s personal to you. But even if a deadline isn’t specifically required, set one anyway. And when the time comes to do what’s expected of you, make sure that you stick with it so that everyone, especially your employees, know that you’re the kind of person they can trust to show up and execute a plan.
4. Budget your time
It’s not uncommon to hear business owners express feelings of overwhelm, stress, and a constant fight against the clock. Most feel trapped in their daily tasks, unable to delegate and rise above the nitty-gritty to make strategic decisions. The challenge is understanding why they remain stuck in this cycle and how to break free.
In the words of Stephen R. Covey, “The key is in not spending time, but in investing it.” It’s vital to understand when to work on things and how much time you have to finish them.
A default calendar is the ultimate tool for budgeting your time. It is a pre-planned schedule that acts as a framework for your daily activities. It involves time blocking – allocating specific time slots for different tasks, projects, and priorities. This proactive approach ensures that every moment of your day is accounted for and optimally utilized.
5. Hire an Assistant
This might seem like an unusual suggestion – but pulling yourself out of the day-to-day is a key step in taking accountability.
Employing a VA (Virtual Assistant) not only offers a productive step. Delegating does not mean dropping the ball but rather cluing into one’s place as leader. A VA takes care of those routine jobs that are necessary for everyone else to perform, leaving you free to concentrate your energy where it’s most needed and in uniquely valuable form. Your ability and vision.
You should hire a VA to perform your non-core but essential administrative and operational tasks, helping to organize and book meetings for you, reply to your emails, and provide other kinds of administrative support. Instead of spending your valuable time on administrative tasks, you will now have the time to focus on strategies to help grow your business.
6. Hire an Accountability Partner
According to a study by the American Society of Training and Development, people who committed to achieving a goal were 95% more likely to accomplish that goal if they also set up accountability meetings with someone. A business coach is the ultimate accountability partner can help you with this. When you have someone present in your life to keep an eye on your progress, accountability becomes that much easier. You have regular check-ins to make it a habit.
You’ll notice that all professional athletes have coaches. So do most successful business owners.
Hiring a business coach can make all the difference. A good coach gives you more than advice; they furnish framework within which to examine problems and handle chances in ways that are both appropriate and effective. With their help, you can fine-tune your vision, lay out a strategy which will work and get a mind-set that always seeks improvement.
The Key to Breaking Free
For any entrepreneur or business owner feeling trapped in the cycle of day-to-day operations, consider this article is an invitation to re-evaluate. Summit SCALE® Coaching can offer that fresh perspective, guiding you towards releasing the reins on daily chores and focusing on the bigger picture of business growth. The freedom to strategise and the joy of seeing your business flourish is within reach.
If you’d like to explore how coaching can help you become more accountable for your own success, I invite you to book 15 minutes to chat with me about coaching. You can do that here: TimeWithShane.com
