When it comes to goal setting, it’s not a matter of just writing down your dreams and aspirations on a piece of paper and hoping for the best. If you’ve read the first two instalments of our goal setting series, you’ll now know how to build the confidence to achieve your goals and create a road map to get there, but how do you stay accountable for those goals?
The Association for Financial Counselling & Planning Education lists the following probabilities of completing a goal:
- You have an idea or goal: 10%
- You consciously decide you will do it: 25%
- You decide when you will do it: 40%
- You plan how you will do it: 50%
- You commit to someone that you will do it: 65%
- You have a specific accountability appointment with someone you’ve committed to: 95%.
As you can see, even if you have created a roadmap for your goal, you are still only at a probability of 50%. That’s a one-in-two chance of failing – pretty bad when you think about it. However, if you have a specific accountability appointment with someone you have committed to, your chances of success increase to 95%. Now that is huge.
So, we’ve established you need a good accountability partner. But what should they actually do for you? Well, it’s important to remember they’re not there to be your friend or a shoulder to cry on. A good accountability partner will not give you any lovey-dovey crap (pardon the French) – they will give you the truth. Whether you like it or not, they need to be honest and sometimes brutal in helping you achieve your goals.
Consider it like this; a Personal Trainer can listen to what you want to achieve, provide advice for your nutrition and help build a training regime for you, but it’s up to you to show up and do the work; they can’t get fit for you. The same applies to an accountability partner; they can’t achieve your goals for you, only guide you.
A true accountability partner will not allow your excuses to take priority; either you did what you said you would, or you didn’t. There is no middle ground. Their main aim should be to help keep you accountable and help you push through your obstacles as they arise. They should be a sounding block when you come across obstacles, listening to you and providing a different perspective on approaching your problems to ensure you get through them successfully.
So, while an accountability partner needs to be honest about your performance, they should also be able to provide guidance and assistance to move through obstacles as they come across your path to success. Remember, an accountability partner improves your chances of success exponentially. From one in two to 19 in 20! So, make sure you invest in the right person to help you.
This brings us to the end of our goal setting series. We hope it’s been educational and inspiring. If you’re looking for some one-to-one guidance and would like PCR to be your accountability partner for your financial goals, give us a call today to set up a goal setting and game plan consultation and take your business to the next level. Our team of expert advisors will help you in setting your financial goals and keep you accountable.
Owner of PCR Accounting & Advisory, Peter Marmara-Stewart is a top-tier accountant and financial advisor dedicated to helping clients reach their business goals and achieve financial freedom. Peter is highly regarded for his client-focused approach and entrepreneurial spirit, catering to a diverse range of professionals across a wide scope of industries all across the country. Peter’s expertise can help you plan effectively, set goals, maximise profits and protect your assets. Get in touch today on (03) 9847 7516.