Hitting goals, whether they are personal or business, no matter how big or small, requires time, energy and effort. When done right, reaching your goals is an immensely satisfying and rewarding process.
Setting the right goal is essential – as it is how you measure the success of that goal and the increments to get there.
For a business, the big company goals are supported by many smaller goals and many people. Some of these smaller goals are milestones too – and without hitting these, the bigger goals are never reached.
In this blog, we’re looking at what an accountability partner initiative could look like in your business and why it could be the secret to continued success through the hard times and the good.
Having an accountability partner at work boosts success by 95%
Yes, you’re a whopping 95% more likely to achieve a goal when you’re accountable to someone else.
Not an app, goal lists, post-it notes or tracking spreadsheets – although can be useful tools when they work for you. Accountability initiatives have a greater impact when a person is accountable to another.
For me, I knew I wanted to make the move to Portugal with my family back in 2013. Without my wonderful wife, Anne-Marie, who provided support and held me accountable to my dream, I dare say I may never have done it. Without a partner to share the plan with and help break it into bite-size steps, is not only a much more lonely road, but the chances of succeeding fall massively (to a lowly 10%, check out the research below). Essentially, being accountable ensured my dream was indeed delivered.
Here are some research findings about what accountability on goal setting actually looks like and the likelihood of success:
- Having an idea or goal: 10%
- Consciously deciding that you will do it: 25%
- Deciding when you will do it: 40%
- Planning how to do it: 50%
- Committing to someone that you will do it: 65%
- Having a specific accountability appointment with someone you’ve committed to: 95%
This principle works whatever the goal and it’s a game-changer within businesses.
Different to a manager or supervisor, an accountability partner is either working within a mentor or coach-type capacity or within a peer-to-peer relationship.
It’s proven to work and drive success when:
- There are trackable and measurable goals
- There is mutual compatibility
- You can openly and comfortably share experiences
- It’s a trusted and respected relationship
- You agree to and are committed to meeting regularly
Everyone in the business is responsible for contributing to the big goals and when this is defined and shared, held up through accountability, and cheered on by peers, it creates a winning workforce.
Did you know that 66% of small businesses said their accountant has been their most trusted business advisor over the last 2 years? Nice work! (Research by Capitalise Insights).
If you’re not doing this in your business already, it’s a great time to think about how you can include a peer-to-peer accountability partner initiative to boost not only performance but culture, well-being and personal growth.
This can be partnerships within the same team but it also works incredibly well when staff pair up across teams, encouraging skill share, knowledge swap and learning new things.
(A LinkedIn Workplace Learning Report found that 94% of employees say they would stay at a company longer if it invested in their learning and development. So it also contributes to supporting your staff retention too).
Accountability At C-Level
We’ve found that although accountability works in the same way for C-Suite, it’s much more welcomed by senior leadership teams when it’s also supported by these 3 things:
- Objectivity: Accountability support from someone outside of the business and who is not a friend or family member.
- Relatable Experience: To build trust on the big decisions, it’s usually best to be accountable to someone who has seen first-hand similar experiences and can serve as a reliable and knowledgeable guide.
- 3D support: To enable a ‘whole-take’ approach and peak performance state, it’s essential to balance all areas of life through any accountability initiatives, from personal goals to guidance on managing staff, delegation, forming new habits and communication.
Here at Nuvem9, we utilise many different techniques, tech and teachings to support company-wide accountability for our goals. Right now, as we approach the last stint of 2022 and begin thinking about what 2023 goals look like, what’s to come and what possible roadblocks we might encounter – it’s a time for inspiration, support and accountability to set those big goals.
What would 95% more success look like in your business?
If you’re curious about what that roadmap might look like for you and what the next steps are to get there, let’s have a chat about how our business strategy planning workshops could help you and where we detail the essential areas of your business like:
- Business Planning
- Big Goal KPI’s, Strategy & Tactics
- Sales & Lead Generation
- Financial Forecasting, Budgeting & Risk Management
- Operational Optimisation
- Staff Retention, Talent Acquisition & Company Culture Success
This is what we call planning for the future with resilience, clarity and confidence.Book a complimentary call
Helping leaders and businesses drive success forward
Here at Nuvem9, we do things a bit differently – we’re not your traditional accountants or financial advisors.
We utilise our knowledge, 50+ years of combine experience, technology and our proactive approach to leverage the best support for you. So whether you’re in need of an outsourced bookkeeping or accounting team, help scaling up your business or planning for an exit, we’re here to support you each step of the way.
We support our portfolio of clients to increase staff retention, plan ahead for new hires and budget and forecast efficiently across their business to make that happen.
Get in touch for a free no obligation chat with one of our Senior Advisors to explore how we can support your accounting, financial planning and business strategy.
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