The power of accountability as a business owner

1. How do you know what to prioritise?

It’s no secret that as a small business owner, you’ll be wearing an array of different hats on a daily basis. However, this doesn’t change the fact that knowing what to prioritise – or the hat you should be wearing the most – is paramount to success. 

I always work with the phrase ‘eat the frog’ – do the task you do not want to do first, get it out of the way, then every task after will be better than what you did first, the frog will be the worst thing you eat that day. Which frogs do you need to eat?  

2. Do you have any backing to support why you should be doing things? 

Many business owners think they’re being proactive but are actually just going through the motions. Take a step back, think about everything you’re doing. Is each regular task taking the business forward and or contributing to long-term success? If the answer is no in several instances, it’s likely time to review your approach. 

3. Are you considering work-life balance? 

You know your business better than anyone, but working 12-hour days to look after it is simply not necessary. By doing this, you are not only likely to waste time but also drive yourself towards burnout, leading to more frequent mistakes and ineffective decision-making. With a clear list of priorities and justification for each, you should be able to cut down on the time you spend working on your business. 

4. Do you value someone external to the business? 

It’s easy to forget about help from the outside world when you’re immersed in your small business bubble. Why not reach out to your accountant for advice? Your interaction with them doesn’t have to be limited to an annual conversation. 

The cheat code to accountability? Work with our Success Advisers. Accountability enables you to get things done, organise, and prioritise. We’re all either a starter or a finisher, so how can you make yourself become both? Work with us. 

Your Success Adviser isn’t here to play good cop / bad cop. They’ll hold you accountable because they know your business’ potential and want to help you recognise it by setting you objectives and action plans. 

Prioritise your goals

A small business owner has so much to do, and sometimes your own aspirations go to the bottom of the pile, purely because you want to look after staff, customers, and suppliers. Make sure you keep your goals at the forefront of your day-to-day activities to avoid falling into this trap. 

Delegate

Set action plans, work with your staff members and look at their strengths. How can they help you? Delegating tasks keeps your team all moving in the same direction towards success and helps them feel more involved.

Review

Every month, put aside one hour to speak with your Success Adviser. This enables you to take tangible steps towards your business potential throughout the year.

Our Success Programme goes beyond producing year-end financial accounts and tax returns, offering you regular chances to discuss your goals, business challenges, performance to date, and more with a dedicated Success Adviser.  

Through monthly check-ins, we’ll provide you with actionable steps to realise your ambitions and reach your goals. 

We’ve explained how important accountability is for small business success; now it’s your turn to take a step back and reflect. Are you doing the right things to drive your business in the direction it should be headed? 

If you’d like help deciding priorities and reviewing strategy based on your business’ data and goals – get in touch.