Bonus Episode 75: Leading with Accountability: A Call to Action for Finance Professionals

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In this episode, we're examining the transformative power of intense accountability in the realm of finance and accounting careers. We'll delve into how owning your mindset, setting clear goals, and establishing a chain of accountability can catapult you out of your comfort zone and propel you towards success.

We'll explore the fine line between making excuses and owning up to failures, and how the right mindset can encourage us to take more risks, essential for a thriving career. We'll also touch upon the concept of professional conduct and the role of accountability within our professional fields. Whether you are starting out or are a seasoned professional, this episode is brimming with unique insights and fresh perspectives designed to empower you to take charge of your career and your life. Step into the realm of intense accountability and let it shape your journey to success.

Episode outline:

1. What is intense accountability,
2. Own your mindset, goal setting, achievements, AND failures,
3. Accountability gets us out of our comfort zone, so we take risk,
4. Our professional conduct requires accountability too, and
5. Become a more sought-after finance leader.

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. 

1. On the website, you can download the Become a Finance Leader Guide. You can use this guide to build your Finance Leadership skills so you can help senior leaders develop and execute the strategy.
2. I also offer a course, Advance Your Finance and Accounting Career: Developing a Promotion Strategy that Sets You Apart.

Episode Transcript

Stephen McLain (00:00):
Hi, this is Stephen McLain of the Finance
Leader Podcast.
This is bonus episode number 75.
I love personal accountability.
It is key to success and goalachievement, so that is why I am
sharing an encore replay ofepisode 113, embrace Intense
Accountability.
Transform your Finance andAccounting Career.

(00:21):
Now here's the episode outline.
Number one what is intenseaccountability?
Number two own your mindset,goal setting, achievements and
your failures.
Number three accountabilitygets us out of our comfort zone,
so we take risk.
Number four our professionalconduct requires accountability
too.

(00:41):
And five become a more soughtafter finance leader.
So please enjoy this Encoreepisode, episode 113, embrace
Intense Accountability.
Transform your Finance andAccounting Career.
Have a great rest of your week.
Thank you for choosing theFinance Leader Podcast.
Until next time.
Thank you for listening.
Take care.
Until next time.
Thank you for listening.

(01:02):
Take care.
Do you want to succeed in yourcareer?
We all want to succeed and mostwant to have a growth career
track in our chosen fields offinance and accounting, but
often we get distracted or weare afraid to take risks that

(01:24):
will move us beyond our comfortzone.
This is why intenseaccountability can help you
track as a high performer.
You know you have the desire toachieve because you have had
incredible results in the past,but what you need now is to get
hyper-focused and create asystem that holds you
accountable, so you achieve yourgoals and be on the career

(01:46):
track that you dream about often.
Please enjoy the episode.
Welcome to the Finance LeaderPodcast, where leadership is
bigger than the numbers.
I am your host, stephen McLean.
This is the podcast fordeveloping leaders in finance
and accounting.
Please consider following me onTwitter, facebook, instagram
and LinkedIn.

(02:06):
My usernames and the links arein this episode's show notes.
This is episode number 113, andI will be talking about why you
need intense accountability andself-discipline so you can
succeed, and I will highlightthe following topics Number one
what is intense accountability?
Number two own your mindset,goal setting, achievements and

(02:30):
failures.
Number three accountabilitygets us out of our comfort zone,
so we take risk.
Number four our professionalconduct requires accountability
too.
And five become a moresought-after finance leader.
Author Bob Proctor saidaccountability is the glue that
bonds commitment to results.

(02:52):
Welcome again to anotherepisode of the Finance Leader
Podcast.
My desire is for you to growyour leadership skills, not just
your technical skills, so youmove beyond being an analyst or
a staff accountant, or evenbeyond holding a team manager
role.
You are meant for somethingbigger.
Leadership, combined with ourtechnical skills and business

(03:13):
acumen, can help you move intomore senior and executive roles,
and you have to believe inyourself.
You need confidence and showoff that confidence when facing
a tough problem.
The ultimate goal is to becomea sought-after, highly skilled
finance leader who can leadchange during any situation.
A sought-after finance leaderis well-skilled across technical

(03:35):
skills, soft skills andleadership skills.
They can lead in a crisis, theyunderstand strategy, they know
how to lead large organizations,they possess integrity and they
own their results and theperformance of the organization
as a whole.
Hey, I hope you enjoyed thelast few bonus episodes that I
put out.
Bonus episode 65 was aboutpreparing for unpredictable

(03:58):
change in the workplace.
In bonus episode 66, Idiscussed earning your
professional credentials.
In bonus episode 67 was aboutteam transformation and in bonus
episode number 68, I talkedabout key end of the year
activities.
Please enjoy these short bonusepisodes.
We must take extreme ownershipof our goals, our mindset, our

(04:23):
attitude, our ability to takerisks and definitely we need to
own our failures.
No more blaming others or asituation, no more blaming our
bosses who don't meet ourexpectations, and no more
blaming others for a lostopportunity.
Okay, so you did not accomplisheverything you set out to, so
what are you going to do aboutit?

(04:43):
What are you going to change?
How are you going to own yourfuture so you make the necessary
changes to move forward?
You may need to adopt a mindsetof intense accountability.
You may need to adopt a mindsetof intense accountability.
Goal accomplishment often comesdown to discipline and
accountability, plus amazinghabits that set you up every day
for success.

(05:03):
How we address accountabilitymeans we are going to own our
career and own when somethingdoesn't go our way.
We are not going to makehorrible excuses on why
something didn't go well.
I want you to do an assessmentof what happened, but not make
excuses.
Now, what is the differencebetween making an excuse and
figuring out what happened soyou can do better?

(05:25):
It's about who you assign theblame or, in fact,
responsibility to.
If you assign blame to anexternal source, it is an excuse
, and when we assign blameexternally, we don't accept our
control over what could havebeen done better.
It's when we acceptresponsibility for our behavior,
for our work effort, for beingorganized and ready to

(05:46):
accomplish the tasks of the day,then that is when we set
ourselves up for success.
Now, what habits do youpractice that helps you create
an environment ofself-discipline?
How do you stay focused, how doyou remove distractions and how
do you plan your day and weekto maximize what you can
accomplish?
What is your method for stayingon track to achieve incredible

(06:08):
results?
Self-discipline, moreaccountability and setting goals
can translate to more risk, sowe leave our comfort zone, which
is a great move.
I want us all to do that.
We can all do this, I know it.
I like to list out my tasks andschedule when I need to do.
Plus this is a big requirementhave an accountability partner

(06:28):
and mentor to help you talkabout what you're trying to
accomplish.
You need someone who believesin you, and that someone must
also have the ability to havehonest conversations with you.
And now we'll share one moretime.
Don't forget to complete anyremaining CPEs for the year and
let's get ready for goal settingin 2024.
I love goal accomplishment and Ilove to self-analyze myself

(06:51):
when things are not headed inthe right direction.
We need to self-analyze whensomething is not headed in the
right direction.
We need to self-analyze whensomething is not going in the
right direction with our lifeand our career.
It helps when we have a mentoror close friend who will help us
see the truth.
Not a person who intentionallytries to hurt us, but someone
who holds us accountable.
Now, one of my favorite moviesis the Devil Wears Prada.

(07:13):
Andy Sachs is the assistant toMiranda, the tough and
unempathetic editor of Runwaymagazine.
There was a moment early on inthe movie where Andy unloads her
troubles to Nigel, the artdirector, on how horrible
Miranda is treating her.
Nigel refuses to allow Andy tobe the victim.
He puts it right back on Andyto own her own behavior and her

(07:36):
level of effort.
Andy eventually owns it.
We all need a Nigel as a closeconfidant who will help us see
where we can do better.
Now let's talk about why youneed intense accountability.
Number one what is intenseaccountability?
Intense accountability is whenwe take extreme responsibility
for our careers and our lives.

(07:57):
No excuses are allowed.
We figure out what happened andwhat is happening and make
adjustments.
We own the outcomes and theplanning and execution that it
takes to get there.
Those who practice intenseaccountability, don't shift the
blame.
This will empower you tosucceed.
Nothing will get in your way,you will be more confident and

(08:17):
what you need to do will be moreclear.
Intense accountability means Iwill set goals, take the
initiative and get movingforward.
I will own my results.
I will block time to work on mygoals.
I will record my results and Iwill find an accountability
partner to work with me resultsand I will find an
accountability partner to workwith me.

(08:37):
Number two own your mindset goalsetting, achievements and
failures.
It is up to you to set andaccomplish your goals.
If you are waiting for someoneelse to do it for you, you will
be waiting a long time.
What do you do when somethingdoesn't go as planned or, in
fact, ends up as a failure?
This is important to thinkthrough and admit to yourself.

(08:58):
You have to do the exercise ofwhat you do and start to own
this part of your professionallife.
How do you react to a personalor career failure?
Do you accept responsibility ordo you shift blame?
Perform the self-analysis onhow you handle failure and what
can you do better to own it.

(09:18):
I have a great accountabilitypartner who helps me to see
things differently.
This may be what you need also.
Number three accountability getsus out of our comfort zone, so
we take risk.
When we own our future, we getto move forward.
It takes accountability, with alittle risk-taking, to ready

(09:39):
ourselves for the next greatopportunity.
The comfort zone can beappealing.
Sometimes no one gives usanything that challenges us.
We get to do our usual tasksand we collect our normal
paycheck Easy, too easy,actually, way too easy.
Why would we do this?
Because we are scared to takeon something difficult?

(10:00):
Well, maybe, but when we adoptan intense accountability
outlook and mindset, we are morelikely to move beyond that easy
, no-challenge comfort zone.
And that is where I want all ofus to be.
Look at yourself with greatintent.
Why are you not moving forward?
Why are you still stuck whereyou are at?

(10:20):
Why haven't you moved beyondyour current situation?
How are you going to holdyourself accountable to take on
more risk in your career?
Number four our professionalconduct requires accountability
too.
Not only do we need to beaccountable in our career, but
also within finance andaccounting professions, and as

(10:41):
we navigate our roles, we needto uphold the highest standards
of professional conduct andintegrity.
Internal controls are needed sowe safeguard company assets.
We must uphold these internalcontrols and uphold the highest
standards for each other.
Also.
We are responsible forimplementing and upholding
internal controls so thatcompany assets are safeguarded.

(11:04):
Who is keeping us accountable?
We often need to keep eachother accountable, and that is
why intense accountability isneeded so much here, too is why
intense accountability is neededso much here, too.
Number five become a moresought-after finance leader.
Leaders accept responsibilityand make an action plan.
Organizations are looking forleaders who take personal
responsibility for achievingcompany goals and objectives.

(11:27):
They don't want people who lackpersonal accountability and
can't take ownership for helpingto deliver the strategy.
If you want to be sought afterfor a senior leader role in the
future, you must develop amindset of success by taking
charge and taking ownership overyour areas of responsibility,
which means you celebrate thewins, and we do this by properly

(11:48):
giving credit to those whohelped achieve those wins.
But we also, and mostimportantly, accept the failures
, do the analysis on whysomething failed and lead the
development of an action plan toget everyone on the right track
again, and we do this whilepreserving everyone's dignity.
A leader brings calm to thestorm.
A leader takes charge in acrisis.

(12:10):
A leader does not run away fromfailure.
Takes charge in a crisis.
A leader does not run away fromfailure, but tries to learn
much from why something failedand then uses leadership to
rally the team back to highachievement again through a
realistic action plan.
One of the great results of usas leaders assuming intense
accountability of our ownactions and our own performance

(12:32):
is that our team members willsee that and our culture can
begin to shift.
We need to talk about acceptingaccountability in every
opportunity when addressing ourteam.
If everyone took personalresponsibility and
accountability for their careersand lives, we could have a huge
shift toward greatness.

(12:52):
Now for action today.
How do you motivate yourself toachieve high results?
Do you have a process ofintense accountability so you
accept responsibility for yourlife and career, or do you find
yourself blaming others orsomething else why something
didn't work out the way youwanted it to?
I recommend that you do aself-analysis on how you handle

(13:14):
setbacks so you can figure outwhat you need to do better to
own your performance and results.
Please check outfinanceleaderacademycom when you
get a chance.
We want to help you with yourgoal planning and career
advancement.
You can find all the previousepisodes of the Finance Leader
podcast and the free FinanceLeader Guide Become a Finance

(13:40):
Leader.
Please sign up for the weeklyemail so I can share a short
suggestion each week.
I promise that my emails areshort and can be read and easily
understood quickly.
Today, I talked about why youneed intense accountability and
self-discipline so you cansucceed, and I highlighted the
following points.
Number one what is intenseaccountability?
Number two own your mindset,goal setting, achievements and

(14:01):
failures.
Number three accountabilitygets us out of our comfort zone,
so we take risk.
Number four our professionalconduct requires accountability
too.
And five become a moresought-after finance leader.
Intense accountability has someamazing effects on us.
I want you to learn to seethings from a different
perspective.

(14:22):
This is how scientists maketheir breakthrough discoveries
and this is how I want you togrow as a leader, which will
help you succeed and be readyfor the next big role.
Look at yourself and yourcurrent professional situation
from a different perspective.
What can you do differently?
Accountability means you aresetting goals.

(14:42):
Schedule what you need to getdone and find someone whom you
can trust so you can update whatyou want to get done.
Ask this person for feedback onyour progress.
Add some perspective to whatyou are trying to get done.
Ask this person for feedback onyour progress.
Add some perspective to whatyou are trying to get done.
What can accountability do tohelp you and your situation to
move forward?
Again, this begins with us.

(15:03):
We need to make the personalcommitment to include intense
accountability in ourprofessional and personal lives.
We need to do the work and takethe responsibility to get it
done, without blaming anexternal factor.
What is your long-term goal?
What is holding you back fromaccomplishing this goal?
Anything Good, now go do it.

(15:25):
Next episode, I'll be talkingabout finance agility and what
it means for finance leaders whoare lifting their organizations
to a different level.
I hope you enjoyed the FinanceLeader Podcast.
I'm dedicated to helping yougrow your leadership skills, to
change your mindset and toclarify your goals so you
advance your career.
You can find this episodewherever you listen to podcasts.

(15:47):
If this episode helped youtoday, please share and leave a
quick review so that others mayfind the podcast.
Until next time, you can checkout more resources at
financeleaderacademycom and signup for my weekly updates so you
don't miss an episode of thepodcast.
And now go lead your team andI'll see you next time.
Thank you.