Growing revenue should be the most important task for every business. If your business is not growing, a competitor’s will be and they are taking customers away from your company. If you are running a Fortune 100 company, the majority of your time should be spent creating products and sales channels to generate revenue. If you are an individual entrepreneur, the majority of your time should be spent on income-producing activities. The biggest key in growing your sales lies in first knowing who owns that responsibility and having the proper systems in place to hold the organization, or yourself, accountable for the growth goals.
Accountability. How did such a great concept get such a negative reputation? Inefficient leaders and poor managers have wrapped it in a veil of negativity and used it as the enforcer of responsibility. We complain about it at work, and in our personal lives; think about your family budget or weight loss goals. Usually, it is discussed as a virtue that is lacking in others. However, it is part of the planning process that will position you to reach your business goals. What turns the fun activity of goal setting into the not as much fun implementation of the business plan is facing the fact that someone has to be responsible for the outcome. For all important business tasks, ownership and accountability have to be in place and individuals have to be willing to be held responsible for the outcomes assigned.
The most common misconception about accountability is the difference that exists between excuses and responsibility. If you look at the companies and individuals who achieve great results over a long period of time, they all know the difference between having success and being effective. You can have short term success and then reach a very difficult obstacle and not be effective in growing past those difficult circumstances. In order for individual leaders to be effective in the long term, the most important factor is not how they place blame, but rather it is based on their ability to take responsibility for what they can own. In taking responsibility for the outcome, effective leaders are empowering themselves to develop new personal traits and skills needed to commit to take action and place their business’ growth back on track.
Nothing should stop your dream of building an incredibly successful business. The growth of your business is what matters most. Here are four principles of accountability that need to be in place to ensure your company will reach its goals:
- Designate the individuals who are responsible for growth in your company
- Build precision in your budget and determine how each dollar spent will impact your growth
- Create proper incentives and ramifications for the individuals who own your growth goals
- Identify the right benchmarks to track the progress of reaching your growth goals
Feeling sorry for yourself or placing blame won’t correct your missteps. However, there is a great sense of self-empowerment when you realize that you have the ability each day to decide to hold yourself accountable. No longer are other people’s actions and perspectives a deterrent to your achievement. No longer can we use work, relationships or others as an excuse to not achieve. It is all up to you and your actions. What a wonderful discovery! The decision is yours, the vision is yours, the actions are yours, and you are accountable for you.
Think of accountability not as a negative activity to be shunned, but rather as a valuable coaching tool to help you grow. Top executives, athletes and sales individuals all understand that to truly excel they need a confidante, a coach who cares about their success and helps them succeed. If you are looking to learn more about how coaching can help your real estate business, visit our website.