Carl Willis

Key Areas for Accountability in the Life of the Entrepreneur

Key Areas for Accountability in the Life of the Entrepreneur

is a must for any entrepreneur who wants to achieve set goals as scheduled. It is not a negotiable entity but a high priority which must not be toyed with.

A good entrepreneur must understand responsibility and and show it. You should know how to respond to issues and create the kind of business environment that can fit into your business plan, irrespective of external influence which may be prevalent in your industry.

Many entrepreneurs lack confidence and skills in handling issues properly and as at when due. This is the first area you will need to pay attention to. You may need to go for special trainings to sharpen your skills and acquire more knowledge to achieve this.

The bottom line is that you must be an accountable person, though as the chief executive or the owner of the company you may not report to anyone, but your attitude and sense of responsibility will go a long way to encourage others to be accountable.

The following are key areas that you have to focus on if you want to be an accountable entrepreneur.

1. Focus on results and not on tasks. Your leadership style should be such that will encourage your employees to work towards achieving a result which had been established before the commencement of a given task. This will ensure that you make good progress in achieving your long term goals.

2. Honesty. Be honest in all your dealings, say things the way they are without hiding figures or any errors that have been made that can affect business activities negatively. Being honest will enable you to find the right solutions to issues, it will also help your employees to do things the right way, while not giving room for dishonesty.

3. Communicate always. This is very key in your business dealings. You must use verbal, electronics, writtings, etc, to pass information to your employees to make sure that no one is left out, and that the right information gets to the right people. Where employees are well informed they know what is expected of them, and what the overall goal of the company is. This can help employees to be creative and result-oriented in their duties.

4. Be open to change. Know that change is bound to happen, and for you to fully benefit from it you have to position your business to adapt to changes. Take note of new things happening in your industry, study them and see how you can bring them in to your own business. Most of the time, all you will need to do is to copy what another company is doing successfully, and bring it into your own business with little or no adjustment.

5. Empowerment. Learn to empower your staff with everything they need for them to fully use their potentials for the growth of your business. There are more than one way of achieving a goal, and no single person knows it all. Organize trainings, seminars, and workshop for your employees to make them more fit for the job. The more you empower them the more they will be able to deliver the right value that you need.