This blog post is all about entrepreneur accountability groups – why you need it and how to start one. Lately, I’ve been binge listening to Ruth Soukup’s “Do It Scared” Podcast. And I often hear Ruth make statements like “Find your tribe” or “Form your truth club”. I gotta admit – I thought it sounded a bit hokey.
But then I started to think about the fact that Ruth is the OG of the online business world. She’s raking in more than 7-figures a year. So, I decided to plumb the depths and figure out what she really meant. And the light bulb went on. Ruth is constantly talking about the importance of entrepreneur accountability groups.
Accountability is defined as the “quality or state of being accountable; especially : an obligation or willingness to accept responsibility or to account for one’s actions”
Yup. Ruth’s right. To achieve big business goals, we need to accept responsibility. We need to account for our actions. We need an accountability group.
Why You Need An Entrepreneur Accountability Group
What exactly is an entrepreneur’s accountability group? An accountability group is a safe space to learn, teach, receive, and give encouragement. It’s the place where you can brainstorm and get feedback on your ideas.
For entrepreneurs, that means discussing your quarterly and monthly business goals. For some that may mean focusing on marketing, or cutting expenses, or increasing revenue.
The members of the group provide accountability to each other. They often have weekly, biweekly or monthly meetings. These meetings can be in person, but due to busy schedules, they are often over a conference call or zoom chat.
A accountability group almost always consists of people who have similar goals to each other.
The Benefits Of An Entrepreneur Accountability Group
My favorite verse from Ecclesiastes is “Two are better than one, because they have a good return for their labor: If either of them falls down, one can help the other up. But pity anyone who falls and has no one to help them up.”
Basically this verse means, two heads are better than one.
And in the case of entrepreneurs, five heads might be even better. If you need help finding a solution to a challenge, your accountability group can be a great help. In a group filled with A-players, you can learn from each other. Everyone in the group has something to teach the other members.
The best groups will be filled with 4 or 5 people that will give you honest feedback. People who are not afraid to choose candor and tell you what you need to hear. Yet, they always serve that candor with a spoonful of sweet inspiration.
If you’ve hit the jackpot, then your accountability group will also provide your business with some support.
In a small group of 3 people, someone might offer to proofread everyone’s blog posts. Another person with awesome graphic design skills might offer to make fresh pins. And the third person might be a WordPress wiz. But this works best for a small group where everyone is giving equally.
A larger accountability group can expose you to others that have achieved much more than you have. All of a sudden, you might move from your safe SMART goals to bigger, scarier stretch goals.
How cool is that? A few people to help you start striving for a greater level of success?
And the most important – everyone in the group knows what you’re working on. They’ll hold you to your plans. I don’t know about you, but I also love a little competition. Game on!
If you’re saying “Okay, okay, you’ve convinced me to pull the trigger and join an accountability group” then my best advice is to just start your own.
How To Start An Entrepreneur Accountability Group
Don’t waste time trying to fit into an existing group. You can start one. Here are 5 steps to help you get started:
1 – Decide on the topic and purpose.
When you reach out to prospective members, it needs to be clear what type of person you’re looking for. Is your accountability group for bloggers or Etsy shop owners, or service providers? What are you hoping to accomplish with the group?
2 – Seek out members and be picky.
Your accountability group doesn’t have to be big. 4 or 5 people is more than enough. Focus on quality over quantity. At the end of the day, you want a high-quality group with high-quality members.
4 – Look for people with different skills but a similar level of commitment.
The members should be similar, but not clones of each other. For example, if your group is 3 bloggers, then it might make sense for each person to have a different niche, avatar. and skillset.
For example, a new Food blogger who excels in crafting click-worthy blog titles might want to pair up with a new Travel blogger that excels in SEO keyword research. And the two of them might want to invite a Parenting blogger who is a Pinterest master.
An accountability group for Virtual Assistants might include 3 people that offer similar services. For example, if your group is for social media managers, then you might find it helpful for each person to be focused on a different platform – one from Facebook, Instagram, and Twitter.
Try to ensure that everyone has the same level of drive as you do. A group with both serious entrepreneurs who want to earn a full-time income should not pair up with someone who is working a side hustle. That might become a dysfunctional group.
5 – Determine the frequency and format of meetings.
How often will you meet? How will the meetings be conducted? Will one person run the meeting? Will it be the same person each time? These details should be decided by all the members.
Expect everyone to contribute. People shouldn’t be allowed to just gain a benefit from the meetings. They should be expected to provide value to others, too. Give everyone a chance to speak.
The Bottom Line On Entrepreneur Accountability Groups
Being a small business owner can be lonely. Especially when your working from home while the kids are in school. An accountability group can provide you with the camaraderie you need and also greatly speed up your progress, regardless of your objective. Get started with one today!