The power of accountability to hit your business goals
At this week’s virtual coffee member’s networking the theme of accountability came up for quite a few of our members. The general feeling was that as solopreneurs, small business owners and startups… the buck stops with us (quite literally) and sometimes the motivation to get sh*t done is more than lacking.
Working from home as a business owner presents unique challenges. The lack of a structured environment and team dynamics can lead to procrastination and a sense of isolation. Without the external pressure of colleagues or supervisors, maintaining focus and discipline becomes a formidable task…. she says as she opens the fridge for the 17th time today. Seriously who is in charge of the shopping around here and where did all my snacks go? However, recognizing these challenges is the first step towards building effective accountability practices.
The Impact of Accountability on Productivity and Profit
Research consistently underscores the positive correlation between accountability and enhanced productivity. A study by the American Society of Training and Development (ASTD) revealed that individuals are 65% more likely to achieve their goals when they commit to someone else. This likelihood jumps to 95% when they have specific accountability appointments. Furthermore, Harvard Business Review highlights that accountability can significantly boost performance, leading to higher profits and sustained business growth.
For women in business, accountability not only drives productivity but also fosters a sense of ownership and commitment. It encourages a proactive approach to problem-solving and decision-making, ultimately contributing to improved business outcomes.
So how can we get some accountability in our business? On the networking call, the SPARKs were quick to share their personal experiences on what works for them. The best tip? Try out different strategies and find what works for you. We are all different and motivated by different things, so the key is to continue to test different approaches.
Strategies to Enhance Accountability:
Get an Accountability Buddy: Partnering with another business owner or a like-minded individual can create a mutual support system. Regular check-ins, goal-setting sessions, and progress reviews can keep both parties motivated and on track. Plus if you get stuck on your project you’ve got someone who’s in your corner who you can bounce ideas off, and drink champagne with when it’s accomplished!
Set a Meeting with Yourself: Dedicate specific times in your calendar for self-reflection and planning. Treat these meetings with the same importance as any other business appointment. Use this time to review your goals, assess your progress, and identify areas for improvement.
Diarise Tasks: Break down your goals into smaller, manageable tasks and schedule them in your diary. This approach ensures that you allocate time for each task, making it less likely to be overlooked. It also helps you to be realistic about what you can achieve in a day, week or month!
Leverage Project Management Tools: Tools like ClickUp, Asana, or Trello can be invaluable in maintaining accountability. These platforms allow you to organize tasks, set deadlines, and track progress. The visual representation of your tasks and timelines can provide a clear roadmap for your projects. As well as those pesky notification emails that shame you when your task is overdue!
Set Deadlines and Milestones: Establishing clear deadlines and milestones can create a sense of urgency and purpose. Regularly review these deadlines to ensure you stay on track and make adjustments as necessary.
Lean on a partner: When your partner asks you ‘how was your day today, dear?’ let them know about a project you are working on and ask them to help keep you accountable by asking for updates and deadlines. Just don’t forget to include them in the celebration process as well so they don’t feel like a task master!
Join a group: Being part of a mastermind group, a membership community or a professional network can provide a platform for accountability and support. Sharing your goals and progress with a group of peers can create a sense of responsibility and drive. Of course we think SPARK is the best one for women in biz (but you knew we’d say that!), leverage our twice monthly networking calls, plus our monthly CEO time (a guided hour at the start of each month to check in on your vision, reflect on the previous month and set your goals for the month ahead), or reach out for an accountability buddy on our private slack channel.
Track Your Progress: Regularly monitor your progress against your goals. Use metrics and key performance indicators (KPIs) to measure your achievements and identify areas that need attention. This data-driven approach can highlight your successes and pinpoint areas for improvement.
Celebrate Achievements: Recognise and celebrate your accomplishments, no matter how small. Celebrating milestones can boost your morale and reinforce the value of staying accountable.I love me a little brain hack, especially when it involves celebrating!
Accountability is a powerful tool for women in business, driving productivity, and financial success. While entrepreneurship presents unique challenges, implementing strategies to enhance accountability can make a significant difference. Embrace the power of accountability, and watch your business thrive!
Oh also, cut yourself some slack gorgeous, every day won’t be perfect and that’s quite alright. You are doing the best you can, and that’s bloody amazing.
