One of my favourite quotes to describe the power of accountability has got to be “Accountability breeds response-ability.” from Stephen Covey.
Most of us will unfortunately fail to achieve what we want, because we don’t set goals, particularly in business. Or we end up setting unrealistic or broad goals, which is the same as not having any goals at all. There’s also a big difference between deciding we want to do something and actually taking responsibility to get it done.
There is also a science behind achieving goals. When we consciously decide to achieve something, our chances of doing so increases from 10% to 25%, and when you make a plan of when and how, your chances of succeeding become 50%. However, the stats get very interesting when you commit to someone that you will do it. By just telling someone stretches your chances to 65% but when you create a specific accountability appointment with a person you are committed to, your chances jump up to 95%!
For many business owners, having an accountability partner is hugely powerful and critical to their long-term success.
What is accountability?
Accountability is taking ownership of your situation and answering or accounting for your actions and results. It’s about owning your actions and the outcomes that arise from them.
What is an accountability partner?
An accountability partner is someone who coaches another person to help him/ her keep committed to goals.
Why accountability partners are important for business owners?
Helps you achieve your goals
An accountability partner will help you to achieve your goals by making sure you stay on track. What you want to achieve, the timeframe and how you will measure it.
Keeps you grounded and on track
They can help you check back into what you originally said you wanted to achieve, and why. Reminding you at the beginning why you really wanted to do this.
Increased chances of success
Having someone to answer to for your actions & results and committing a time to report back, dramatically increases the likelihood of achieving your goals.
Help to track your learnings
There will be huge, valuable learnings as you progress through your plan to achieving your goals. Journaling is a great exercise to reflect as you make progress.
Access to a sounding board
As you progress through you will have access to alternative ideas and perspectives that you might not have seen and that could help to propel you in the future.
Most people fail in achieving their goals because they lack self-awareness and often have something or someone to use as an excuse. One of the most important roles of your partner is to help you to keep honest with yourself, whilst gaining insights into things that might be holding you back.
Helps uncovers blind spots
Every one of us will experience blind spots, things we cannot see and therefore cannot fix. Your partners can help highlight what you might not be seeing.
My own personal experience of accountability partners
As a business owner, I have benefitted hugely from having two accountability buddies, over the years. One is for my long term strategic plan. We speak every Saturday morning before the kids have surfaced for a half hour and discuss each other’s plans, whilst holding each other accountable. More recently, I joined the PSA (Professional Speakers Association) and on our first call they recommended reaching out to someone else to have an accountability buddy for public speaking. I gravitated towards an amazing lady, Camilla Long who happens to be an amazing public speaking coach in NI. We now hold each other accountable for our public speaking progression on a weekly 30 minute call. Both of us marvel at the progress we have made together in such a short space of time!
If you are a business owner who would like to discuss Business Mentoring and accountability, book a Discovery Call here and we can also check if you are eligible for complementary mentoring from your Local Enterprise Office.