How Accountability Leads to Effective Leadership | Ep 95
Build with Leila Hormozi
Leila Hormozi
5 • 867 Ratings
🗓️ 5 December 2023
⏱️ 26 minutes
🧾️ Download transcript
Summary
“Accountability is really what ties a commitment to a result.” Today, Leila (@LeilaHormozi) discusses the definition of accountability and the role of leaders in fostering a culture of accountability. She also talks about the importance of setting expectations, measuring performance, and providing feedback, while highlighting the negative consequences of low accountability on various aspects of business.
Welcome to Build where we talk about the lessons I have learned in scaling big businesses, gaining millions in sales, and helping our portfolio companies do the same. Buckle up, because we’re creating an unshakeable business.
Timestamps:
(2:08) - Accountability: CEO disseminates, not delegates
(6:51) - Signs of low accountability: complaints, no follow-through, unfinished projects
(10:15) - Accountability ties commitment to results
(14:18) - Two types of accountability: tactical and developmental
(18:41) - Avoiding accountability leads to firing, not coaching
(20:45) - Accountability formula: expectations + measurement x feedback
(25:18) - Feedback methods: meetings, one-on-ones, surveys, exercises, recognition
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Transcript
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| 0:00.0 | Because the more times you tell someone, where they are in relation to your expectation, |
| 0:04.0 | the more accountable you are holding them. |
| 0:10.4 | How do you create an unshakable business? |
| 0:12.9 | I cross $100 million in net worth by the age of 28. |
| 0:16.1 | Now I'm growing acquisition.com into a billion dollar portfolio. |
| 0:19.2 | In this podcast, I share the lessons I've learned |
| 0:21.1 | in scaling big businesses and helping our portfolio companies do the same. Buckle up and let's build. |
| 0:31.4 | What is up? I want to talk about today is accountability. And I know what you're thinking, |
| 0:35.0 | which is like, accountability is this like amorphous concept that honestly, for a really long time annoyed the shit out of me when people were like, |
| 0:41.2 | well, you have to hold people accountable. And I was like, what does that mean? Right. And I think that a |
| 0:45.7 | lot of times people tell you in your business, they're like, you should be holding people accountable. |
| 0:49.4 | Like the issue in this business is accountability. And it's like, well, what the fuck does that actually mean? And nobody's able to break that down into actual tactics. And so what I want to explain to you guys |
| 0:57.8 | is my experience with this as well as how to actually put this into play in your business, |
| 1:01.8 | rather than just talk about how we should be doing more of it. First, we have to define accountability, |
| 1:05.5 | right? So this is like my favorite definition I've ever had, which is accountability is really just the quality |
| 1:11.1 | or state of being responsible to one's obligations. Okay. So holding someone accountable means |
| 1:15.5 | holding them responsible for their actions and results. All right. Seems easy enough. So how does this |
| 1:21.7 | relate to, you know, if you're a CEO or if you are a leader in a company, right? How does this relate |
| 1:26.6 | to you? Well, as a person who |
| 1:28.3 | manages people, it's going to be your job to always let your direct reports know how they're doing |
| 1:32.7 | in relation to your expectations of how they should be doing. Right. So a lot of people, I think, |
| 1:37.3 | especially if they've not had a ton of experience in management, you know, they're like, |
... |
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