Accountability is one area that can be tricky for entrepreneurs and business executives. Often, company owners use success metrics to determine if they are doing a good job in their business. While utilizing metrics is a great way to see what areas are successful and which need help, they can only go so far in helping one to build a scalable business.
Putting together a group of trusted colleagues and business leaders can help you take your business from its current trajectory to exponential growth without burning out in the process.
That may sound unrealistic. You may be burnt out or on your way to burning out.
If that’s the case, then you certainly need to read this article and listen to Adi Klevit’s interview with Midori Verity. They discuss accountability systems and groups that keep members on track and support them so that growth feels like a natural extension of a business – rather than something you have to push for so hard that you burn out in the process.
What is an Accountability Group?
An accountability group is a group of people who have similar goals and have agreed to support one another as each member works to attain their goals. This group provides accountability, encouragement, resources, and knowledge-sharing.
Adi Klevit’s interviewee, Midori Verity, runs an invitation-only accountability group called Fuel-to-Fire. This group focuses on providing connections between peers, accountability partnership, and support, as well as monthly classes and masterminds. The group helps entrepreneurs and CEOs reach and surpass stretch goals by keeping those executives focused on their named priorities.
The support provided helps to prevent burn out, and the group atmosphere keeps entrepreneurs from feeling as if they are all alone in their business or industry. This kind of partnership can be achieved by any successful accountability group, whether it’s one formed by a facilitator like Midori or one you build yourself.
Four Elements for a Successful Accountability Group
Midori shared the four elements she focuses on to ensure her accountability group is successful. You can utilize these elements in forming your own group or in building an accountability team of coaches and peers around you.
Element 1: Establish who is in your group
When forming your own group, you need to understand who is participating and their roles. For example, if you build an accountability group and your business consultant, two peers, and a coach are all part of it – they need to know how they can support you, and you need to understand what kind of support you need to give to them.
Element 2: Meet regularly
It is easy to get off track, so meet regularly to ensure you and your group members can talk about where everyone is on their goals and discuss next steps. By meeting regularly and trusting one another, you are showing that you respect them, and they are showing they respect you.
Additionally, the regularity of your meetings can inspire you and your group to strive consistently to achieve your stated goals. After all, no one will want to come to the meeting empty-handed.
Element 3: Encourage reciprocity
These groups must consist of people whom you respect and trust and who need you as much as you need them. While you can include people you hire on your accountability team to facilitate goals, you must also have peer-to-peer relationships to depend upon.
Part of an accountability group is for you to inspire others as much as they inspire you. This lifts all participants up and helps mitigate the burn-out that can happen on days you feel you’re running in place.
Additionally, your group members need to be able to call you out as much as you need to be able to call them out. You must all share in your group members’ successes and setbacks.
The entire point of an accountability group is to turn entrepreneurship into a team activity.
Element 4: Bring in people who have had mixed experiences
If everyone in your group has had the same experiences, they will be unable to help you if your journey to business success differs from theirs. So, find people who have come by entrepreneurship or business ownership in various ways and have overcome different life challenges. Learning from one another and sharing experience is a beautiful way to grow and overcome challenges.
Building an accountability group can be exciting, supportive, and challenging in itself. Get in touch if you would like to include Business Success Consulting Group as part of your accountability team.