The benefits of having an accountability partner
Have you set goals and measurable budgets for your business as yet?
Let’s face it, we all have a goal or two that we set every year, but somewhere along the journey, the goal becomes less and less of a priority.
With so many distractions and the occasions in which life gets in the way, meeting your personal and professional goals can seem nearly impossible to achieve. Whether you are looking to lose a few extra kilos, launch a new business, or save to purchase a new home, Your Accountability Partner can help you stay committed and focused. Reach out for that help
Connecting with Your Accountability Partner will help you to:
Prepare your measurable goals in writing
Yes, one of the first tasks would be to critique the past, and set up the forward looking sales, cost of sales and overhead budgets and then implement them into a cash flow budget as well. Remember achieving your profitability goals also requires knowing where the cash is coming from and where it will be spent to ensure you operate within your existing cash resources and knowing when situations might be tight and need to seek external funding in advance of the reality.
Keep Your Momentum
Sometimes, the journey to accomplishing your goals can mean a bumpy and hard road. It can be easy to lose interest when the road gets tough. Your Accountability Partner can help you stay committed and work toward slaying your goals by conducting regular meetings.
Bounce Ideas Off of Each Other
Four eyes are better than two, right? Your Accountability Partner can be an ear and a set of eyes to help you discover a new perspective that may not have been obvious to you. For example, when to recruit or retrench staff, when it is more cost effective to replace a fixed asset than to incur the constant repair bills
Provide Support
There are going to be times when you just want to vent or need someone to talk to about your specific needs. It’s good to be able to have a partner that can empathize with you because they are familiar with your journey. For example, I recently had a client considering relocating premises within the same industrial area, so we were able to objectively consider the pros and cons of such a move and whether that should be that they remain tenants or become landlords
Challenge Yourself
No one ever accomplishes their goals by staying stagnant! You should strive to be a better version of yourself each and every day. Your Accountability Partner can help you see beyond your current circumstances. Remember, if it were easy, you would already be doing it!
This is a big one! Staying focused is one of the hardest things to accomplish these days. With social media and endless entertainment on streaming sites like You Tube, you can easily slip out of focus. How many times have you sat at your computer to send an important email and found yourself on Facebook, scrolling and liking pictures for hours? YourAccountability Partner can make sure that you use your time wisely.
Are you struggling to make your business work?
Insight CA Limited is a team of experienced Auckland-based chartered accountants and business advisors who can help. We’ll give you the power to see what’s really happening in your business, so you can take control and start making progress. Click here to learn more about how we can help you achieve your goals.
