Accountability: The Secret to Sustainable Business Growth

In podcast episode #45 of The Rabbi Who Got Rich on Sunday, we’re going to explore accountability, a topic that can transform your business from stagnant to soaring. But first, a question and a comment:

“Have you ever felt like you’re putting in all the effort, following all the right steps, but still not seeing the progress you know you’re capable of? Well, you’re not alone!”

I’m David Felsenthal, The Rabbi Who Got Rich on Sunday, and every week we do a deep dive into the challenges and triumphs of running a successful home business or side hustle. In this podcast episode, we look at Accountability: The Secret to Sustainable Business Growth.

A Story About Accountability 

I have experienced the magic of accountability many times in my career and it never amazes me that when something is measured on a daily basis, it takes on a new life.

Many times, I’m called to help a sales team full of very talented individuals, who are not having the level of success that they should.

When we figure out what the activities are that they can control, like adding to their prospect list and making approaches, and we start measuring them daily, all of a sudden their presentations and sales start climbing.

I also find that really smart people spend a lot of time shuffling papers getting ready to do the work rather than actually doing the income-producing work.

Daily accountability keeps you from fooling yourself!

My favorite story, though, is of this young Rabbi named Yisroel, who had just moved from Israel to work with Jewish Students on a college campus in New Jersey.  I gave him the challenge of recruiting 40 students to come on a free trip to Israel with me.  I had given this same challenge to a dozen other campus professionals.  They each spoke English fluently and he had a heavy accent.  They each had attended American universities and he had not.  They each said they did not need my help and reported back to me after several weeks that it was too challenging and they could not recruit anyone.  He called me every day to tell me where he was finding new prospects, how many he had talked to yesterday, and how many he planned on talking to today.  Every day, I would celebrate with him his success, and within three weeks he had a full trip of 40 participants!  It’s a good thing that his more experienced and knowledgeable colleagues didn’t tell him it was impossible!

Problem Identification

So, why do many businesses struggle despite the hard work of their leaders and teams? Often, it’s not about the effort or attitude but a lack of accountability. Missed deadlines, unclear responsibilities, and lack of follow-through are common issues when accountability is missing.

Advice and Solution

Accountability can change the game for sustainable growth. But what exactly is accountability in a business context? It’s about setting clear expectations, assigning ownership, and having regular check-ins to ensure progress.

Let’s break this down:

• Clear Expectations: Set specific, measurable, and controllable goals so everyone knows what’s expected.
• Ownership and Responsibility: Assign tasks to individuals, making them responsible for their completion.
• Regular Check-Ins: Hold regular meetings or updates to track progress and address any issues promptly.

Fun Ways to Create a Culture of Accountability

Creating a culture of accountability doesn’t have to be dull. Here are some fun ways to do it:

• Gamify Accountability: Introduce friendly competitions and rewards. For example, start a monthly ‘Accountability Champion’ award where team members earn points for completing tasks on time and supporting their peers. The winner gets a fun trophy and a small bonus.
• Accountability Buddies: Pair team members to hold each other accountable. This makes the process more engaging and supportive. Implement an ‘Accountability Buddy’ system where team members check in with their partners daily, offering encouragement and feedback.
• Celebrate Milestones Together: Organize small celebrations or acknowledgments for achieving milestones. Every time a project milestone is reached, have your team take a break to celebrate with a team lunch or a fun team-building activity.
• Transparency with a Twist: Use creative methods to keep everyone informed about progress and responsibilities. Some teams use a colorful, interactive project board where team members can move their tasks from ‘In Progress’ to ‘Completed’ and add fun stickers or notes.

General Advice

Accountability isn’t just for one part of your business. It applies across all departments, from sales and marketing to operations and customer service. Look at companies that have successfully implemented accountability measures—they’ve seen positive results across the board. When you foster a culture of accountability, everyone knows their role and works together towards common goals.

Steps to Take

Now, let’s talk about actionable steps to foster accountability in your business:

1. Establish Clear Goals: Set SMART (Specific, Measurable, Achievable, Relevant, Time-bound) goals.
2. Implement Regular Reviews: Hold weekly or bi-weekly check-ins to discuss progress and obstacles.
3. Foster a Culture of Transparency: Advocate for open communication and feedback within the team.
4. Use Accountability Tools: Utilize project management apps to track tasks and progress.

Recap and Weekly Podcast Challenge

I hope you enjoyed “Accountability: The Secret to Sustainable Business Growth” Accountability is key to sustainable business growth. It’s about building trust, fostering teamwork, and driving your business towards success. Start implementing accountability practices today, and watch your business grow.

This week’s challenge is to share who your accountability partner is and what you are measuring with me through social media using our dedicated hashtag #richrabbichallenge, or email me — I’d love to hear from you, and I’ll send you my suggestions!

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