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Business Unplugged™
This blog features Carol Roth's tough love on business and entrepreneurship, as well as insights from Carol's community of contributors.

Accountability and the Emperor’s New Clothes

Written By: Catherine Morgan | No Comments

I know that I am not the only one with ostrich tendencies when it comes to looking at the numbers for my business. During the good months, I can’t wait to tally the revenue and during the bad months – well, you might say that I put my head in the sand.

Like many of you, I have something that Carol would refer to as a job business. I have basically created a business to support me and I am OK with that. However, if my business is only bringing in the revenue of a jobbie, that is not OK and the rest of my life will suffer. I have bills to pay, conferences I want to attend, and adventures to have.

Here’s the thing: If you don’t keep track of the numbers, you do not know where you stand. It’s like that old story about the emperor walking down the street naked and nobody says anything. Instead, they tell him how beautiful his new garments are. If you are not keeping track of the numbers, you are essentially doing this to yourself.

Enter accountability.

As a coach, a lot of what I do is hold people accountable. They actually aren’t accountable to me at all. They pay me and can do whatever they want. They are really only accountable to themselves. My clients tend to know that they are harboring an inner ostrich and in order to combat that, we set tasks together over a timeline and have check-ins to confirm that the right stuff is actually getting done.

And while I can do this very well for my clients, I had to set up some accountability for myself.

Carol always says that as an entrepreneur, you have to get comfortable with being uncomfortable. So this past weekend, I spent a lot of time adding up my revenue for the past year, calculating projected revenue and expenses for this coming year, and doing a business plan. I will have to present my plan in front of relative strangers this week at a three-day offsite with Michael Port and his elite mentorship group, The Alliance.

Talk about uncomfortable! I feel so exposed – just like the emperor when he realizes that he is naked. Why did I sign up for this? (!) Because I know that if I don’t have someone holding me accountable, I won’t make the progress that I need to have in my business this year. I will get super busy and create some great stuff, but this way, Michael and the other members of The Alliance will keep me on the fast path to the cash. Since I am not money motivated, I know that this is what I need.

Accountability and support are critical to being a successful (and sane) entrepreneur. Here are some ways that you can get some for your business:

  • Join (or create) a mastermind group with other entrepreneurs who are at a similar stage
  • Hire a coach one-on-one
  • Join a coaching group
  • Join a mentorship program

I strongly urge you not to try to do this alone. Accountability requires a buddy – or maybe a whole group of buddies. And from personal experience, I can tell you that it takes a while to get the sand out of your hair.

So, who is holding you accountable? What is working for you? I would love to hear about it in the comments below!

Article written by
Catherine Morgan is the editor of Business Unplugged ™ and the founder of Point A to Point B Transitions Inc., a virtual provider of coaching services to individuals who are in business or career transition. Catherine is the author of the eBook Re-Launch You: Discovering Your Point B and Embracing Possibility. An experienced independent consultant who was employed by three of the former Big Five consulting firms, Catherine combines job search strategy development with accountability coaching. Catherine speaks frequently on topics related to career transition, small business, productivity, and entrepreneurship. She doesn’t take herself seriously, but takes her subject matter very seriously.