Who do you answer to?

Earlier this year I enrolled in an entrepreneurial coaching program that helps successful entrepreneurs take their businesses to even greater levels, and achieve a better work-life balance in the process. We meet in person for a full day every three months, and receive incredible tips and practical tools to help us implement the ideas we have discussed.

The program would have some value even if it only offered the training and these accompanying tools. But, I would suspect like most entrepreneurs, even if I have been given all the tools in the world to make this kind of thinking and changing as easy as possible, I know that I still am not very likely to actually implement most of it. Same old excuses we all use - too busy, too tired, no resources, etc..

But, the true genius of this program is that it has a high degree of accountability hard-wired into its structure. Throughout every session I attend, not only am I learning the new ideas presented, but I am also continually having to answer for how much/well I have implemented the ideas from prior sessions. I am now, in essence, accountable to my coach and the 20 or so other entrepreneurs in the room as to the progress I am making in utilizing what we've been taught. Makes it much harder to let all these tools and ideas simply go to waste, for fear of looking foolish in a room full of successful people.

I had actually thought about this idea of creating third-party accountability for my business a little while ago, even before I began this program. Being the sole owner of my business, I have no Board of Directors, or similar group, to answer to. I have a network of associates, friends and mentors who I will continually bounce ideas off of, but no one to "answer to", no one who is aware of my goals and will hold me accountable for my results.

I think most of us are wired like that, for whatever reason - whether its natural procrastination, or some subconcious fears or apprehensions, or simply a lack of devoted time to do it, most of the time we all have trouble actually executing plans with any reasonable degree of urgency, especially "big" ideas, like strategic changes in your business. So, we all need to find a mechanism that creates that urgency.

I think all small business owners should have a formal entity to which they answer. Call it a Board of Advisors, call it a Mentoring Panel, whatever - but a small group of selectively-recruited people (on a voluntary basis, who have your best interests in mind and relevant skills to offer) with a specific mandate (help you grow your business) and responsibilities (set, regular meeting dates, meetings with agendas and written reports, etc.).

I have committed to have mine in place before the end of this year, and in fact, a colleague of mine and I who are looking at starting a business together in the future have already discussed the need for such a group for us in that business as it comes to fruition.

Who will you answer to in yours?