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April 1, 2025 16 mins

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Bonus episode #89: A powerful accountability framework can be the difference between another year of unfulfilled potential and remarkable achievement in your finance career. Whether you're aiming for the CFO chair or seeking to level up your leadership skills, this episode unveils the three critical components of a personal accountability strategy that actually works.

We begin by examining the mindset shift required for genuine accountability. As finance professionals, we're excellent at holding others accountable through metrics and performance reviews, but often struggle with personal accountability. I explore why 99% of failures stem from excuse-making and how developing a no-quit attitude creates the persistence needed to overcome inevitable obstacles.

Beyond mindset, effective accountability requires a structured methodology. The SMART framework (Specific, Measurable, Achievable, Relevant, Time-bound) provides the architectural blueprint for transforming vague aspirations into concrete achievements. But even the best-designed goals require tactical implementation tools—the practical mechanisms that keep you on track daily. I share my personal accountability toolkit, including written plans, calendar systems, accountability partnerships, and environmental cues that have helped me consistently achieve my professional objectives.


Please connect with me on:

1. Instagram: stephen.mclain
2. Twitter: smclainiii
3. Facebook: stephenmclainconsultant
4. LinkedIn: stephenjmclainiii

For more resources, please visit Finance Leader Academy:  financeleaderacademy.com.


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Episode Transcript

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Stephen McLain (00:00):
Hi. This is Stephen McLain of the finance
leader podcast. This is bonusepisode number 89 I am back with
another bonus episode this week.
I have one more to share nextweek before I am back to sharing
my usual episodes. I am workingon a few things right now that
will be very special to thiscommunity. And I am also
interviewing a few specialguests, so I can't wait to share

(00:21):
those episodes and an update onmy special projects. Now this
week, I do have a question foryou to consider. Do you have
hopes and dreams now? I sure do.
Now, what does it take toaccomplish those dreams? Now you
know the answer. It takes hardwork, focus, dedication, a

(00:44):
commitment to progress, and youhave to sacrifice some fun time.
But I usually do caution thatyou don't ignore your family.
Family is very important nowwhat you need is an
accountability strategy. I wantto share with you this week is a
replay of episode number 128,personal accountability strategy
for success in 2025 I publishedthis episode at the beginning of

(01:07):
the year, and since we are nowstarting the second quarter,
it's a good time to review ourstrategy. So please don't quit.
Keep working. The rewards willbe there. So please enjoy this
encore replay of episode number128, personal accountability
strategy for success in 2025 youcan find more resources at
financeleader academy.com Pleaseenjoy the rest of your week, and

(01:31):
thank you for listening to thefinance leader Podcast. Enjoy
the new year has begun, and it'stime for those New Year's
resolutions that may not helpyou, but goal setting will help
you. We have high expectationsand lofty ideas about who we

(01:54):
will transform into over a shortperiod of time, but what happens
is that our enthusiasm runs out,and then our spirit of
accomplishment diminishes, andfinally, hope fades away, all
because our planning methodologywas out of touch and our
accountability plan was flawed.
I want to encourage you in thisepisode to develop a personal

(02:15):
accountability strategy that canwork for you to get what you
want done this upcoming year,and it always begins with you.
What is most important to you?
What do you prioritize? What youbelieve is important you will
place at the top of your list.
Let's get ready to accomplishmuch in 2025 Let's go. Please

(02:35):
enjoy the episode. Welcome tothe finance leader podcast where
leadership is bigger than thenumbers. I am your host. Stephen
McLain, this is the podcast fordeveloping leaders in finance
and accounting. Please considerfollowing me on Twitter,
Facebook, Instagram andLinkedIn. My usernames and the
links are in this episode's shownotes. Thank you. This is

(02:58):
episode number 128, and I'll besharing a personal
accountability strategy while wehead into the new year. I will
highlight the following topics.
Number one, it begins with ourmindset, our attitude and our
commitment. Number two, use aproven method for goal
achievement. And three, developyour tool set, famed agriculture

(03:22):
scientist and inventor GeorgeWashington Carver said, 99% of
all failures come from peoplewho have a habit of making
excuses. Now I really like thatquote. We don't want excuses
going into the new year again.
Happy New Year. It is awonderful time of possibilities,
where we see the entire year,which is open to our dreams and

(03:44):
oftentimes very lofty goals. Weare ambitious, and we have that
inner desire to change and tobecome better at something. It
becomes a personal desire tomaybe lose weight or to save
money or something very similar.
We know we need to change. Weare coming out of the holiday

(04:04):
season where we probably ate toomuch or spent too much money,
and we state that we need to getinto the gym or make a better
budget. So we have dreams ofchange, but what we lack is a
great plan that makes sense. Andmost importantly, we lack a way
to hold ourselves accountable,which then leads to failure and
disappointment. This then leadsus back to our old habits, and

(04:27):
we will find ourselves at theend of the year wondering what
happened last year. At thistime, I shared episode 115,
SMART goals for 2024 whichexplain the SMART goal setting
process. So I recommend that youre listen to that episode to
understand and adopt thatprocess. If you didn't listen to
it yet, please go back and findit. It's a great episode on

(04:49):
smart. It's the best, thesimplest and most realistic
process to plan and achieve yourgoals. As a quick reminder,
SMART stands for Specific. LikeMeasurable, Achievable, Relevant
and time bound. These fivecriteria are used to ensure that
goals are well defined andachievable. I also created a

(05:10):
free downloadable guide andworkbook to accompany that
episode. You can download it atfinance leader academy.com I'll
also share a link in thisepisode's show notes so you can
find it very easy. On lastweek's episode, I shared my
professional goals for thisyear. That is my way of holding
myself accountable by publiclyproclaiming what I want to

(05:32):
accomplish, I have made a publicstatement on what I want to get
done. Will I do it? I don't wantto disappoint you all, so I am
committed to getting my goalsaccomplished. Now. What is your
purpose? Establishing yourpurpose can be powerful. It can
help you with commitment foryour life, your career, your
goals, pretty much everything.
When you decide and know whatyou're passionate about and what

(05:56):
you want to accomplish, you canbecome unstoppable.
Accountability is needed, and ithas to be tough. We need
accountability, and sometimes weneed external help or an
external stimulus to bring usover the finish line. Ask
yourself and be honest. Can youkeep yourself accountable, or do
you need help? Do you needsomeone or something to help you

(06:19):
to that finish line. What do youdo when you have to make a
decision about working on adevelopmental task versus
getting comfy in front of yourTV? Are you willing to sacrifice
a comfy today for a bettertomorrow? Our mindset can be our
greatest asset or our greatestenemy, laziness and excuses can

(06:40):
permeate our will for greatnessand for winning. What are you
going to choose? What do youbelieve in? I want you to
strengthen your mindset forwinning and for growth. This is
our daily exercise, our dailyfight. Are you ready to learn,
to grow and to win today. Areyou ready for the fight against

(07:01):
mediocrity? This year, I willtalk more about our career
potential. Our career potentialrelies on a solid plan of
accountability. If becoming CFOis your plan, then you need a
plan of accountability and howto achieve it. You need a
strategy on the skills you needto develop and how to progress
in your career. You need acareer strategy that makes sense

(07:24):
for you. I am a big believer ingoal setting. I do it every
year. I make lists, multiplelists. In fact, about what I
want to get done during theyear. Do you like to make lists?
I think most of you probably do.
I'll make a list and break downthose items to smaller tasks.
Next is to put those smallergoals onto a calendar and then

(07:46):
commit resources. When you havegoals on a calendar, then you
have committed resources tothem. You have a plan. Now will
you ensure you achieve them?
That's where accountabilitycomes from. Now let's talk about
a personal accountabilitystrategy while we head into the
new year number one. It beginswith our mindset, our attitude
and our commitment. We are onlylimited by our own mindset. We

(08:10):
set our personal limit. You haveto believe that and commit to
that, or you will run fromaccomplishment every time,
mindset and commitment wrappedin a no quit attitude creates
persistence. When faced withobstacles, persistence wins out
every time. If something doesn'twork in your favor, once or

(08:32):
twice, try something else, don'tquit, and don't let anyone tell
you to quit. Let the marketdictate your ceiling. You are
your own limit. In most cases,you will talk yourself out of
something great over a fear thatdoesn't even exist in the real
world. What is holding you back?
What do you do when faced withan obstacle or you feel lazy? Do

(08:54):
you go around it? Do you let itstop you where you are? Be
prepared for then that obstacleshows up because it will. What
will you do? Do you have aresponse? A friend asks you to
goout instead of work on a class
that will help you develop acritical skill. What is your
choice? Think about all thoseobstacle possibilities. Be ready
for when they show up, becausethey will, number two, use a

(09:16):
proven method for goalachievement. I believe in the
smart method of goal setting andgoal achievement. Listen to
Episode 115 SMART goals for2024, to fully listen to an
explanation of smart and how toapply it to help you achieve
your goals. Again, SMART standsfor Specific, Measurable,
Achievable, Relevant and timebound. It is a solid process. I

(09:41):
believe in it, and I want you toadopt it too. You must adopt a
formal process, or you riskfailure. You risk complacency,
and I despise complacency.
Complacency is laziness. It'sthe comfort zone. Dreams die and
complacency all. Dreams die inthe comfort zone. If you set new

(10:03):
year's resolutions a week or soago, are you on track with them?
Will you be on track a week fromnow? Most will not be on track
because they lacked a provenprocess. Number three, develop
your tool set. This is veryimportant. This is where we're
going to build our strategy. Nowlet's start with your purpose.
What are you passionate about?
What drives you? What are youmeant to do we all generally

(10:26):
have a feeling inside what weshould be doing with our life.
What comes to mind about whatyou should be accomplishing? Do
you like leading? Do you likedoing admin activities? Do you
like helping others achievetheir goals? Do you want to rise
to CFO or even CEO one day? Whatis your long term goal? Write it
down and then break it down onhow to achieve it next. Our

(10:47):
expectations, this should alignwith your purpose. What can you
get done this year,realistically with everything
else in your life and and doesthat align with your long term
goal. I want you to develop thefollowing in your goal setting
and in your accountabilitystrategy. I want you to have a
written plan. I have said itmany times, write down your

(11:08):
goals and your progress, updateit regularly. I want you to use
a calendar, both a short termcalendar and a long term
calendar, so you can includepersonal planning and career
planning, I want you to choose atrusted friend you can share
your goals with, who can alsonudge you along and ask about
your progress. This has to besomeone who believes in you and

(11:29):
who will push you along in thegoals. So you can share with
them. You can talk with themabout what you're doing but what
you want to do, and they believein you. Have you tried putting
post it notes or signageeverywhere you are so that
reminds you of your goals,placing a sign in your work
area, your desk area, or maybeon the mirror? These reminders

(11:49):
can help you get into thatspirit of goal accomplishment.
They become Stark notices tokeep going. They hold you
accountable when you come upshort, and they celebrate you
once you have achieved somethingsignificant. So let's develop
that tool set. Let's developthat that personal
accountability strategy. I wantyou to start with that purpose.

(12:11):
I want you to write down thatlong term goal. I want you to
set aside realisticexpectations. Develop a goal
setting and accountabilitystrategy by having that written
plan, use calendars, choose atrusted friend you can talk to
about it, I want you to putsignage and post it notes all
around you, reminding you ofwhat your goals are. So you when
you see that sign, it remindsyou of what you have set up for

(12:34):
yourself for this year. You seethat sign and say, Hey, did I do
it yet? Am I going toaccomplishment? And when you see
that sign again and when youhave achieved it, you can
celebrate it. I always like toshare what I like to accomplish
with someone I trust. I write itdown and I share it with a
friend. It works for me, becauseI feel that I have a contract
with my friend to accomplishwhat I said I would, and then I

(12:57):
give updates to my friend on myprogress, you need a strategy
that works. You can just thinkabout it, but you need a plan
that reminds you of progress ora lack of progress, so you keep
moving forward now for actiontoday. Do you have a plan for
goal setting and goalaccomplishment in 2025 and more
importantly, do you have aproven strategy for personal

(13:19):
accountability. So I want you toask yourself, where I talk about
the same things again, do youknow your purpose now? I want
you to start to write down yourpassions and what you want to
accomplish. Well, I have awritten plan so I can track my
progress. I always believe inwriting down what you want to
do. Did I use a goal settingprocess, or did I just make New

(13:39):
Year's resolutions? Likeeveryone else, you know, how I
feel about New Year'sresolutions. Am I committed to
goal? Accomplishment is mymindset in the right place? How
do I ensure I accomplish mygoals on time and to a high
standard of excellence? I wantyou to ask yourself all these
questions. Go back and listen toit one more time if you have to

(14:01):
the key to goal accomplishmentis accountability. Do you have a
plan and how will you completeit? Now? Go get it in 2025 now,
I have a special announcement. Ihave been asked to speak at an
upcoming Leadership DevelopmentProgram. It's a three week
virtual training event to helpyou unlock critical skills so
you can reach for the higherroles in finance and accounting.

(14:22):
It is called the Office of theCFO boot camp. Topics include
the CFO mindset, strategicinfluence, change, leadership
and executive presence andcommunication. The event is
hosted by an amazing financeleader who I have interviewed
here on the podcast, we'll seeyou. Come on. You can find more
information and how to sign upat financeleader academy.com

(14:45):
select boot camp in the topmenu. I will also drop a link in
the episode show notes. If youare listening to this episode
later, there is a plan foradditional workshops, so go
check the link. Thank you.
Today, I talked about a personalaccountability strategy while we
head into the new year, and Ihighlighted the following

(15:06):
points. Number one, it beginswith our mindset, our attitude
and our commitment. Number two,use a proven method for goal
achievement. And three, developyour tool set. I want you to
succeed, but you have to make achoice. You have to choose a
success oriented mindset thatyou'll cultivate every day. You

(15:26):
have to choose to leave yourcomfort zone every single day,
every single moment. Are yougoing to do something amazing or
stay in the comfy, happy, nopressure, place that you are in
now? Are you going to develop asound plan that helps you
succeed? Are you going to adopta few tools to help you with
your personal accountability? Weall need that I do too. So I

(15:48):
write down what I want toaccomplish and then update my
plan regularly. I have annual,quarterly and even weekly goals.
I break down those big goals atthe smaller, more easily
achievable goals to help me inmy movement towards my long term
goal. Let's end those New Year'sresolutions and start to make a
solid plan of accountabilitythat has actionable items in a

(16:11):
written plan. Now I want toshare one more quote on
accountability andresponsibility. The Basketball
Hall of Fame coach Pat Summittsaid responsibility equals
accountability, equalsownership, and a sense of
ownership is the most powerfulweapon a team or organization
can have. I love that quote. Ihope you enjoyed the finance

(16:32):
leader podcast. You can findthis episode wherever you listen
to podcasts. If this episodehelped you today, please share
with a colleague until nexttime, you can check out more
resources at financeleaderacademy.com and sign up for my
weekly update so you don't missan episode of the podcast and
now go lead your team and I'llsee you next time. Thank you.

(16:52):
You.
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