One of the biggest appeals of running your own business is being your own boss. You’re the ultimate decision maker, and the direction of the company rests in your hands. Unfortunately, this perk can be a double-edged sword: When you’re at the very top, there’s no one to hold you accountable, which may ultimately lead to an unhappy team.
As a CEO, it’s wise to implement a system of checks and balances that ensures your team members’ voices are being heard and considered when you make decisions that impact the entire business. Follow these 11 recommendations from the members of Forbes Coaches Council to keep yourself and your actions accountable to the rest of your company.
1. Make Yourself Approachable And Available
A CEO is first and foremost accountable to the stakeholders: leadership team, shareholders, employees and customers. Make yourself available to stakeholders in an informal setting and ask for feedback. Gaining understanding as to their concerns will provide you with valuable insights on how your strategic decisions are affecting employees and customers alike, the lifeblood of your organization. – Debbie Ince, Executive Talent Finders, Inc
2. Do The Right Thing Even When No One Is Watching
Leaders with integrity do the right thing even when no one is watching. Business owners and CEOs with integrity set the tone for everyone downstream to do the same. A leader’s moral character must be backed up by checks and balances that allow team members to point out weaknesses or errors that the leader may not be aware of. Doing the right thing is not always easy, but it is always the best. – Lillian Gregory, The Institute for Human and Leadership Excellence
3. Share Your Tasks And Goals With Your Team
It’s all about being transparent. Even as the CEO, your team should know what you are working on and what goals you’re working toward. There’s this myth that someone above you has to keep you accountable, but that’s not true. It can be anyone, so make the system of accountability mutual between you and your team—you’ll keep each other accountable. After all, that is the definition of “team.” – Andy Bailey, Petra Coach
4. Find An Accountability Partner
Search out a trusted advisor to keep you accountable. Schedule regular check-ins and share your goals and responsibilities and ask them to help keep you accountable. You can utilize a trusted friend for this—and help them the same way—or hire a business consultant to do it for you. The key to success is open, honest communication. – Krystal Yates, EBR Consulting LLC
5. Ask ‘Why’ And ‘What If’ Before Making Decisions
The more responsibilities you have as a leader, the more critical it will be for you to reflect on why each decision is made and how it will create a ripple effect. What if this decision was shared on the front page newspaper tomorrow? Why do you want to solve this problem? Before reacting, think about the long-term impact. The more you reflect, the more you’ll see and solve holistically. – Monica Kang, InnovatorsBox
6. View Your Customers As Your ‘Boss’
As a small business owner, I started out thinking I would have complete control for the decisions of my business. But, I quickly learned that I had a boss—my customers. When I thought I had a good idea, the customer would communicate their support (or lack of support) for my decisions in various ways. As I embraced my customers as my boss, I allowed them to hold me accountable. – Reed Deshler, AlignOrg Solutions
7. Form A Risks And Benefits Committee
Form a small management committee that represents the key functions of the company. For major CEO decisions, the committee will critique the benefits and risks and discuss viable alternatives. This helps the CEO select the choice with the best benefit-to-risk ratio. Establish “flags” to quickly recognize if the benefits are less or the risks are higher than anticipated. – Richard Ellison, PATH2Happisuccess
8. Join A Mastermind Group
Joining professional mastermind groups and having high-level accountability partners is one way CEOs and entrepreneurs can hold themselves accountable. Having like-minded people who also believe in operating on a high level will help you stay focused on your goals and help connect you with the resources necessary to keep your business successful. – Tameika Devine, The Possibilities Institute
9. Encourage Your Team To Speak Up
The top seems to be a solitary place. But it does not mean that there are no eyes observing your actions. Teach your people how to speak up with courage and conviction. Often gather feedback from your direct subordinates. Show them that their role at meetings is to act as devil’s advocates while discussing options. However, you might use an external coach or mentor to assist you at the beginning. – Inga Bielińska, Inga Bielinska Coaching Consulting Mentoring
10. Consult A Board Of Directors
Power and decision-making spoil if kept in isolation. Ultimately, accountability is a choice. If you’ll accept it, you’ll probably need to create it. For many companies, a healthy board of directors should provide accountability and support to their executive. If your board doesn’t (many don’t) or you don’t have one, many leaders find peer networks or executive coaching helpful. – Christian Muntean, Vantage Consulting
11. Create And Follow A Strategic Plan
How can business owners stay accountable to the company and the team when all eyes look to you for the answers? The strongest leaders—the ones who make it look easy—use strategic planning to set a course for the company that everyone has a part in fulfilling. A good strategic plan lays out everyone’s responsibilities, including the owners, so it’s easy to keep checks and balances in place. – Dominic Rubino, BizStratPlan
As Seen On Forbes Coaches Council –
Debbie Kassebaum-Ince
Founder & President of Executive Talent Finders
