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Accountability has always haunted business owners. Employees have someone to report to, someone to push them for results and most important, someone to hold them responsible. Business owners typically have no one to answer to but themselves. This makes it difficult to move the business forward. It does not have to be this way. Here are some ideas for increasing your efficiency as a business owner by increasing your accountability:
Identify a trusted advisor. Find at least one person you can trust and make yourself provide them with periodic updates. Be sure they give you honest, unbiased feedback about your performance and progress. By getting reactions to key decisions, you can boost your own confidence about the choices you make. Another option would be to consider joining a peer advisory group. These groups have processes to create accountability and fill this trusted advisory role.
Create a culture of accountability. Send out a note to your employees or speak to them directly. Let them know what your plans are for the coming year and how the company will specifically meet these objectives. Knowing that these people will be following the results can have a powerful effect on your actions. Identify key metrics that you are willing to share broadly. Commit to talking about how they are achieved or why they were not realized.
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Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.
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