Welcome to the Entrepreneur Mindset Podcast, where we are focused on creating good in the world by growing your business, and today we are going to continue the conversation we’ve been having on community.
Today, we are going to go a bit deeper into one specific benefit of community and that is accountability.
Last week we talked about how to find a community, now we are going to talk about using a community.
We already know from Episode 123 that accountability is key in business and the community can offer that accountability, but let’s look at the why and how of that.
Willpower. Have you ever walked through the kitchen and grabbed a snack even though you weren’t hungry? As a kid we would go on vacation to the beach every summer. It was amazing! I got to have the sugary cereals that I didn’t get during the year, we got to watch cable TV…I grew up in the country and cable TV wasn’t available. And most importantly, we had “vacation M&Ms”. We always bought a bag of M&Ms and as soon as the car was unloaded, we would grab a bowl out of the cabinet and dump the M&Ms into them. They sat on the kitchen counter all week. When we would walk by, we’d grab a few. It didn’t matter if you were hungry or not. They were there and they were out. So you grabbed a few.
Looking back on that as an adult, a few things strike me. First, how cool were my parents that we had “vacation M&M’s”? I mean, that was pretty awesome. Second, the bowl never ran out before the end of the week. We always had enough to get us through that last morning when we were loading up the car. I don’t think it was willpower that kept us from binging on them at the very beginning of the week, I think it was the accountability that no one wanted to run out before the end of the week. We were accountable to one another to make sure that there were still M&Ms on the morning that we left the beach.
Willpower is something that we all too often rely on, but all too often fails us when push comes to shove. Dr. Benjamin Hardy shares that “If you’re serious about the changes you want to make, willpower won’t be enough. Quite the opposite. Willpower is what’s holding you back. Willpower is a broken approach to thriving and success.”
What he means is that if you are relying on willpower then you don’t quite know what you want, you haven’t fully decided on a course of action. This means that you are waffling. And guess what happens as a result of waffling? Not much. You aren’t likely to meet your goals!
This is why you need accountability.
Accountability in Community
Accountability in a community, like we are building in Entrepreneurs in Flow, has 5 key benefits:
1. Shared Goals and Values
First up is that being in an entrepreneurial community helps create accountability through shared goals and values. When you surround yourself with like-minded individuals who are all working towards similar objectives, it’s easier to hold each other accountable. You’re all on the same path, and you can support each other by discussing challenges, sharing advice, and keeping each other on track to achieve those goals.
2. Peer Pressure (the positive kind)
Another benefit of being in an entrepreneurial community is positive peer pressure. Don’t worry, I’m talking about the good kind here. When you see your fellow community members making progress and achieving their goals, it can motivate you to stay committed to your own. This kind of positive pressure can push you to work harder, stay focused, and avoid procrastination. Nobody wants to be the person in the group who’s falling behind or not meeting their targets.
3. Regular Check-Ins
Entrepreneurial communities often have structured systems for regular check-ins, such as mastermind groups, weekly calls, or progress reports. These check-ins provide an opportunity for members to share their accomplishments, challenges, and goals for the upcoming period. By regularly reporting on your progress, you create a sense of responsibility to yourself and to the community to stay accountable and consistently work towards your objectives. We have several types of check-ins in Entrepreneurs in Flow. We have twice weekly co-working sessions, monthly planning, laser coaching, celebration and debrief sessions, and success calls. During these calls everyone has a chance to share what they are working on and then report back on how they are progressing.
4. A Support System for When You Struggle
Even the most determined entrepreneurs face setbacks and challenges. Being part of a community means you have a built-in support system when you’re struggling. You can lean on your fellow community members for advice, encouragement, and guidance to help you overcome obstacles and get back on track. Knowing you have people who genuinely care about your success and are there to help can make it easier to stay accountable to your goals. We do this in our off-social community conversations and even during our regular live calls.
5. Celebrating Successes Together
Lastly, being in an entrepreneurial community means you have people to celebrate your successes with. As you achieve milestones and reach your goals, it’s important to acknowledge and celebrate these achievements. Sharing your successes with your community not only reinforces your accountability but also provides motivation for the entire group. By celebrating together, you create a positive and inspiring atmosphere that can propel everyone forward. You already heard me talk about the fact that we have monthly celebration calls where you get to reflect on and share your wins.
Now that we’ve talked about the importance of accountability and how being part of an entrepreneurial community can support it, let’s talk about a practical action item you can take this week to start incorporating accountability into your business. What you choose to do will depend on where you are in your business and what foundations you already have in place. I’ll run through 5 different options and then I’ll give you a super simple option at the end.
1. Identify Your Accountability Partner or Group
First up is to identify an accountability partner or a group of like-minded entrepreneurs who can help you stay on track. Reach out to your existing network, attend local business events, or join online forums and social media groups to connect with other entrepreneurs. Look for individuals who share similar goals, values, and ambitions. Make sure they are genuinely interested in supporting and holding each other accountable.
2. Set Clear, Specific Goals
Once you have an accountability group, set clear, specific goals for your business. Make sure your objectives are SMART: Specific, Measurable, Achievable, Relevant, and Time-bound. This will help you create a clear path for your progress and make it easier for your accountability partners to help keep you on track.
3. Establish Regular Check-Ins
Next up, schedule regular check-ins with your accountability partner or group. This could be a weekly phone call, video conference, or even an in-person meeting. During these check-ins, discuss your progress, challenges, and upcoming goals. Be honest and transparent about your struggles and celebrate your achievements together. This consistent communication creates a rhythm of accountability and support.
4. Create a System for Tracking Progress
Be sure that you develop a system for tracking your progress towards your goals. This could be a simple spreadsheet, a project management tool, or even a physical notebook. Update your progress regularly and share it with your accountability partner or group. By having a visual representation of your progress, it becomes easier to stay focused and motivated.
5. Be Open to Feedback and Support
Finally, be open to receiving feedback and support from your accountability partner or group. Embrace their insights, suggestions, and encouragement. Remember, they are there to help you succeed and stay accountable to your goals. In turn, offer your support and feedback to them as well, creating a mutually beneficial relationship.
By taking these steps this week, you can begin to create a powerful accountability system for your business. Not only will this help you stay focused and motivated, but it will also encourage you to consistently work towards your goals, ultimately leading to greater success in your entrepreneurial journey.Now, I promised you a super simple approach to making all of this happen. Entrepreneurs in Flow is opening to founding members on April 26. If you’d like the press the “Easy” button option, this is it. We’ve taken care of putting all of these measures in place so that you can simply implement them. You can check out Entrepreneurs in Flow at www.entrepreneursinflow.co/join.
So there you have it, five key ways that being in an entrepreneurial community can help create accountability and support you in getting things done PLUS 5 things you can do this week to build accountability into your business.
Remember, willpower alone may not be enough to sustain your progress and achieve your goals. Embrace the power of community to create lasting accountability and success.
Thank you for joining me on the Entrepreneur Mindset Podcast. If you found value in today’s episode, please share it with a fellow entrepreneur and leave a review on your favorite podcast platform.
And I will see you back here next week for another episode of the Entrepreneur Mindset Podcast, where a focus on mentoring, community, and implementation removes the overwhelm of building your successful and profitable business and adds in a dose of momentum.
Until next time, have a healthy, safe, and happy week.
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