- December 28, 2022
- Posted by: Swati.patel
- Category: Press Release
Read the full article at Yourstory
Entrepreneurship 101 is a series that focuses on the ‘human’ aspects of being an entrepreneur. Through this series, YourStory shares ideas, suggestions, references, and examples that will help you reflect and tread the entrepreneurial path smoothly.
American businessman Stephen R Covey said, “Accountability breeds response-ability.” And entrepreneurship demands accountability. Accountability can be termed as the secret sauce for building a successful venture. It helps set clear expectations, creating a culture of following through one’s commitments, and ultimately, achieving success. It is really the tool that keeps an entrepreneur and his team focused on the end goal. To be accountable means to claim responsibility for one’s actions and consequences.
While one may argue that an entrepreneur is responsible for the success or failure of their company, accountability, if established at all levels, has the power to decentralise responsibility, create more autonomy, and lead to a comparatively smoother path to success.
Setting tailored, achievable goals for each individual working in a startup helps the organisation move a step closer to success.
While building a new product or starting a new venture, one must focus on accountability and quality. Similarly, accountability towards one’s clients, customers, and even investors are crucial to establishing a sense of trust and confidence.
Manish Rathi, Co-founder and CEO of smart bus booking platform IntrCity, says, “It all starts with hiring…One must hire the right people who appreciate the value of performance and the importance of their role in the organisation.”
For this article on Entrepreneurship 101, we focus on how founders can instil accountability within their startups.
YourStory asked entrepreneurs about their experiences and suggestions on how to instil accountability in a startup.
Here’s what they had to say: Leading by example
The most simple yet crucial way to improve workplace accountability is by holding oneself accountable first. Entrepreneurs should set the standards for the rest of the team.
Subodh Parulekar, Co-founder and CEO of AFour Technologies, says, “Apathetic people are quick to point the finger at someone else or defer by saying, ‘It’s not my job.’Leaders must send the message and show by example that delivering quality solutions are important across all levels.”