Being an entrepreneur can be very exciting, but also lonely. Many successful entrepreneurs leverage accountability partners to help them get things done faster in their businesses. If you don’t have an accountability partner, be sure to keep reading for why you need one and how to pick the right partner.
What is an Accountability Partner?
An accountability partner is the person who doesn’t let you make excuses. He or she is a business peer who helps you start or grow your business by offering feedback and holding you to commitments. It works best if this person is not in your same exact industry (or location), but has knowledge and experience in areas that you are lacking.
You meet on a regular basis, discuss goals and challenges, offer guidance, and share updates on your previous goals and commitments. Once you say your goals out loud, it makes it more real and strengthens your commitment to doing it, especially when you don’t want to let the other person down. Also, if you’re an Obliger personality type, having an accountability partner is even more critical to your success.
I was at a training to become a financial coach when I discovered my accountability partner. She is not a financial coach. She is actually the wife of a very good friend, who happened to live about 20 minutes from the training site. They had offered to let me stay with them to save the hotel costs. Throughout the week, she was very interested in hearing about my passion to coach others in finances and the lessons that I was learning from the training. I discovered that she was a real estate investor, looking to expand her real estate holdings.
The morning that I was leaving to head back home, we talked about how life gets so busy and how it was hard to be motivated to work on our business after a long, busy day at our “regular” job. It was so easy to just put things off until the “next” day. When I brought up the idea of becoming accountability partners, she was so excited and agreed!
When we first starting meeting, my business was just an idea. Eight months later and after twelve accountability meetings, I launched my business and have been in business for over five years.
How Much Does it Cost to Have an Accountability Partner?
Usually, it doesn’t cost you anything to have an accountability partner, especially if you meet virtually. If you meet in-person, just consider the costs of coffee meetings.
If you’re having a hard time finding the right person, consider joining a membership or hiring a coach. If you get more done with external accountability and see faster results, it’s worth the investment.
How to Find and Pick an Accountability Partner:
- Do NOT pick your spouse to be your accountability partner.
- Tip: This needs to be a person who can be your cheerleader (when you need one) and your coach (aka – kick you into gear if you get behind or have doubts).
- Go to a related, industry networking event or look through your existing connections.
- Find someone who is a go-getter and believes that life is what you make of it.
- Tip: I also find it helpful to have other things in common with the person so you can build a friendship and talk about other topics besides just the business.
- Consider a membership with like-minded entrepreneurs if you want a group of accountability partners.
- I’m currently in a membership that provides “real-time” accountability to help you accomplish tasks that you keep putting off. It’s offered by productivity expert, Marcey Rader – Focus90.