How a Lack of Accountability Can Stunt Business Growth

“99% Of Business Owners Aren't Held Accountable”

Recently, the Business Excellence Podcast had the privilege of hosting Gavin Wall, a business magnate who navigated his way from the brink of bankruptcy to a staggering £4 million annual turnover. In this intimate recounting, Gavin shares his remarkable journey from fiscal challenges to immense success, underscoring the pivotal role of accountability in fostering his business's growth.

It's not uncommon to hear entrepreneurs and business owners express feelings of overwhelm, stress, and a constant fight against the clock. Most feel trapped in their daily tasks, unable to delegate and rise above the nitty-gritty to make strategic decisions. The challenge is understanding why they remain stuck in this cycle and how to break free.

At ActionCOACH, we've had the privilege to see into the heart of businesses, offering insights and coaching to hundreds of entrepreneurs and business owners. We've seen firsthand the life-changing power of accountability and how it can revolutionise the way you approach business. Gavin Wall’s recent insights on the 'Business Excellence Podcast' further echo our findings and observations.

Keep reading to discover the core challenges that trap business owners in a cycle of tension and inaction.

 

Gavin Wall: A Tale of Business Resilience and The Power of Accountability

The initial stages of Gavin's entrepreneurial journey saw him trapped in the daily grind, with a firm belief that only he possessed the expertise to handle every facet of his business. However, it was the introduction of accountability, a principle that we at ActionCOACH strongly advocate, that marked a turning point for him.

With the guidance of a Business Coach, Gavin learned to view his business from a strategic vantage point. By having a coach question his approach, he realised the importance of delegation and strategy. This invaluable lesson enabled him to pull back from the immediate chaos and gain a broader perspective, allowing for more informed decisions.

Reaching out to a Business Coach wasn't merely about obtaining advice for Gavin. It was an acknowledgement of the boundaries of his knowledge and the necessity to propel his business beyond the confines of daily tasks. The impact of this coaching was profound. Not only did it rekindle his love for learning, but it also facilitated a monumental shift in his mindset. This transformation became evident in his ability to maintain positivity during challenging times, forge harmonious professional relationships, and cultivate a cheerful disposition.

Reflecting on his coaching journey, Gavin highlights the powerful impact of collective knowledge. Emphasising the benefits of coaching, he notes that the insights gained are an amalgamation of years of experience from numerous experts. His only regret? Not reaching out sooner to tap into this reservoir of knowledge and expertise.

In the end, Gavin Wall's association with a Business Coach underscores a vital lesson for all entrepreneurs: the importance of seeking guidance, being accountable, and adopting a mindset conducive to growth.

 

Pulling Yourself Out Of The Day-To-Day Jobs and Taking the First Step to Accountability

Every entrepreneur dreams of having a smoothly running enterprise, one that thrives without their constant interference. However, according to Gavin, an overwhelming 99% of business owners are "slogging their way through day-to-day chores." There's a prevalent belief among business owners that they alone possess the know-how to handle every task, a dangerous cocktail of pride and ego.

When asked about the feeling of being held accountable, Gavin expressed that accountability transformed his approach. Instead of being lost in the daily grind, he learned to pull back, train others, and ultimately make strategic decisions. It's about allowing yourself to take a step back and trust that the business can function, perhaps even thrive, without your constant input.

But taking that step isn't easy. Gavin was convinced that "if I took my hand off that wheel, everything was going to fall apart."  A sentiment that still resonates for many business owners and leaders today.

"Every business I've spoken to, almost without exception, seems to be muddling through their daily tasks," Gavin began, expressing that this was precisely the pitfall he had once found himself in. "I was personally managing more files and arguably making more money than anyone else handling similar tasks. It felt almost impossible to step back."

However, it was the introduction of accountability that became the game-changer for Gavin. By having someone step in and question his approach, he began to see the need to delegate and strategise. "It took some time, but gradually, I pulled back. I started training others to handle tasks, enabling me to hover just above the chaos, gaining a bird's-eye view and, consequently, making more informed, strategic decisions."

When asking Gavin what advice he would give to other business leaders looking to take those initial steps to remove themselves from the hands-on, daily operations, his response was both raw and real: "Firstly, stop fooling yourself into thinking you're the only one capable of handling everything. It's a massive ego trip, and I've been there. The belief that if you let go, everything will crumble is nothing but a self-deceptive narrative."

This revelation led to another key point: the role of familiarity and routine. Gavin went on to illustrate our natural propensity for predictability, drawing parallels to universally recognised brands like McDonald's; they are consistent! You know what you are getting no matter where you are in the world. He pointed out how humans are naturally drawn to consistency and routine, whether it's choosing the same cubical in a bathroom or the same seat in a theatre. Breaking from this routine, especially in business, can be daunting, but it's often necessary for growth.

 

The Turning Point

"The turning point for me? Pure frustration," 

"Reaching out to a business coach wasn't just about seeking advice but more about acknowledging the limits of my knowledge. There was a dire need to move beyond just working on tasks and actually propelling the business forward."

The impact of business coaching on Gavin was profound. He described it as "Huge," emphasising how it brought his love for learning to the forefront. Gavin highlighted several business books he read recently, illustrating his continuous quest for knowledge. 

1. Way of the Peaceful Warrior - Dan Millman
2. I Am Enough - Marisa Peer
3. The Advantage - Patrick Lencioni

Gavin went on to elaborate on the benefits he derived from coaching, with mindset transformation being paramount. 

The shift in mindset enabled him to remain positive even during challenging times, make swift decisions, foster harmonious professional relationships, and, most importantly, maintain a cheerful disposition. Recalling his earlier stressful days in 2019, Gavin's present-day calm demeanour is a testament to the power of having the right mindset. He aptly concluded, "Surely, smiles are the currency of life."

When asked about any potential moments of regret or reconsideration, Gavin reflected on the idea of reaching out earlier for knowledge. He stated, "I wish I'd have reached out to get the knowledge sooner. Because the knowledge that is passed on to us isn't just one person. It's that one person who's read 2,000 books each with 20 years of experience. You're getting thousands of years of experience given to you."

 

 

The Key to Breaking Free

Gavin Wall's story is a poignant reminder of the challenges and apprehensions business leaders face. It's a tale of transformation, showcasing how introducing accountability and seeking external guidance can lead to phenomenal growth and personal development. His journey from feeling tethered to daily tasks to embracing strategic leadership serves as a beacon for many facing similar challenges.

For any entrepreneur or business owner feeling trapped in the cycle of day-to-day operations, consider Gavin's story as an invitation to re-evaluate. ActionCOACH can offer that fresh perspective, guiding you towards releasing the reins on daily chores and focusing on the bigger picture of business growth. The freedom to strategise and the joy of seeing your business flourish is within reach.

For more insights from other inspirational thought leaders and trailblazing entrepreneurs, ensure you tune into the 'Business Excellence Podcast' each week. Each episode promises knowledge and motivation, aiding you in your business journey.