A Founder’s Guide to Business Growth

Unlocking revenue growth through founder accountability.

Navigating the world of entrepreneurship often feels like being the captain of a ship. The waves are sometimes intense and the weather unpredictable, and through it all, the crew looks to the captain for getting everyone to the desired destination.

As founders, we chart the course, steer the ship, and inspire our crew. Yet, even captains need a compass. The compass in entrepreneurship, often overlooked but vital, is accountability.

In this article, we’ll explore why and how a founder’s accountability is the driving force behind the growth of their business.

The Accountability Gap in Leadership

There is a recurring scene in many startup environments. Team members are handed their individual checklists, with clearly defined targets and KPIs, subjected to monthly evaluations or performance reviews.

But then there’s you, the founder. Who checks your work? Who keeps your compass accurate? There’s a tricky balance to find between being a leader and being led. Often, in the non-stop whirlwind that is startup life, a founder’s own accountability can be pushed to the wayside.

It’s essential to understand the source of this gap. Traditionally, founders are entrepreneurs who’ve taken risks, been proactive, and usually walked their path without needing much oversight. It’s this very independence that can actually lead to a blind spot concerning their own accountability.

At its core, accountability isn’t necessarily about answering to someone else. It’s about commitment, consistency, and the promise you’ve made to yourself. It’s a commitment to see your vision bloom into existence. Self-accountable founders have an intrinsic alignment with their mission, making decisions daily that edge them closer to their business objectives.

More than discipline, it’s about recognizing the deep responsibility that comes with leading a venture and a team. By being accountable to your goals, you’re setting the tone for the entire company, indirectly instilling similar values in your team.

Tangible Benefits of Founder Accountability

Embracing this self-accountability is an exercise in self-improvement. Its effects reverberate through your entire organization:

• Faster Decision-Making: With a clear vision and set responsibilities, you eliminate the ‘maybe’ in decision-making. You have a direction and a map, enabling swift, decisive actions.
• Improved Team Morale: Watching a founder walk the talk is inspiring. It instills a deeper sense of trust and motivation within the team, enhancing cohesion and overall morale.
• Clearer Focus on Goals: An accountable founder is a beacon, ensuring that the company’s vision and mission are always in focus. There’s no room for ambiguity.
• Proactive Problem-Solving: A critical aspect of accountability is foresight. By acknowledging potential pitfalls and proactively addressing them, you’re building resilience into your business model.

Strategies to Foster Founder Accountability

Strengthening your self-accountability muscle requires consistent effort. Here are a few practices that can make the journey smoother:

• Set Clear Personal and Business Goals: Visualize your endgame. It’s imperative to have both immediate, short-term goals and lofty, long-term ones. This roadmap provides clarity during difficult times.
• Regular Self-Reflection and Check-ins: No one knows your business better than you. Regular intervals of reflection can provide insights that might be missed in the daily grind.
• Seek External Mentors or Coaches: An outsider’s view can provide an unbiased perspective, shedding light on overlooked areas or offering solutions you might not have considered. A mentor acts as a mirror, reflecting both the good and the areas of improvement.
• Transparent Communication: A culture of open dialogue and feedback promotes trust. By sharing your goals, concerns, and progress with your team, you’re creating a collective consciousness that’s geared towards growth.

Your Accountability Lifeline: Coaching

Remember the thrill when you first started your venture? That adrenaline rush of creating something, the enthusiasm of the early days? As great as those times were, every founder knows that the initial adrenaline eventually fades. This is a typical cycle and one that can demotivate even the most spirited entrepreneur. It’s in these moments of doubt, when the path ahead isn’t clear, that an external voice of reason can be invaluable.

Why Coaching Works

The value of coaching has been proven in various sectors, from sports to corporate environments. What’s unique about coaching founders is the tailor-made approach it demands.

Founders aren’t just professionals climbing the corporate ladder, they’re creators, innovators, and dreamers. They need a unique blend of guidance that’s both strategic and empathetic. For instance:

1. Objective Feedback: Coaches aren’t invested in your business the way you are. This detachment allows them to provide candid feedback without the bias or emotions that naturally come with being the founder. They can call out blind spots you didn’t know you had.
2. Personalized Strategies: Every business is different, and so is every founder. A good coach will tailor their guidance to match your personal strengths, weaknesses, and business goals, ensuring that the strategy you adopt aligns seamlessly with your vision.
3. Focus on Holistic Growth: While it’s easy to get caught up in the operational aspects of your venture, a coach will ensure that you also prioritize personal growth. After all, a business can only grow as much as its founder does.

The Real-World Benefits

If you’re wondering how this translates to tangible, on-the-ground benefits, here’s how:

• Breaking Through Stagnation: We all face those phases where everything seems static. A coach can provide a fresh perspective, helping you navigate out of such ruts.
• Enhancing Decision-Making: With a clearer understanding of your business landscape and a refined focus, your decision-making process becomes sharper, faster, and more efficient.
• Personal Accountability: This, in essence, is the core of coaching. A coach will hold you accountable for the goals you set, ensuring you’re not just dreamt, but actively working towards them.

As a founder-turned-coach, I can’t emphasize enough the impact of blending firsthand experience with coaching principles. When I began my venture, I felt many of the same pressures, uncertainties, and challenges that you might be grappling with right now. Having been on both sides of the table, I understand the nuanced demands and the unique challenges founders face daily.

This isn’t about telling you what to do, it’s about co-navigating the entrepreneurial journey. It’s about having someone who’s been through the grind, understands the ups and downs, and provides both a listening ear and actionable strategies.

The beauty of coaching lies in its duality. It’s both an anchor and a catapult: grounding founders when the going gets tough, and propelling them forward when the waters are calm. If you’ve been on the fence about seeking external guidance, consider this your sign. Embrace the lifeline. As someone who’s been in your shoes and now stands on the coaching side, I can assure you, the growth is exponential, both personally and for your business.

Conclusion

The role of a founder is multifaceted. Visionary, leader, decision-maker, and more. In steering the ship of your business, remember the importance of holding yourself accountable, ensuring you remain aligned with your desired destination.

It’s this commitment, this personal responsibility, that will elevate your business from good to great.

About The Author
Justin Ferriman helps founders to get “unstuck” and grow their profits. Prior to coaching, Justin was CEO of his startup for eight years, achieving a respectable 32% YoY growth and 76% profit margin before selling.