I decided to write about each aspect of my Code of Ethics for Elevated Equities to express why I find each of these important and to give advice to you of how you can apply them to your business. This is a 4-part series.
Accountability is a word that should always exist in the business world. If one were to lack in their commitments, they would not be classified as someone who is accountable. Accountability is a business practice that should always be used and can be sharpened over the years to be even stronger. As a business owner, I strive to be accountable to my clients. Nothing is more embarrassing than letting the ball drop. Furthermore, as business owners we want our employees to be held accountable for their daily work. The more a person grows in this area, the more trustworthy they become.
Not only is accountability important for a customer/business relationship, but businesses and their employees should hold themselves accountable as well. I hold myself accountable to a code of ethics and laws. How can you incorporate accountability into your business? Here are some tips for creating accountability for your company:
1. What is your mission?
- To hold your company accountable, you first need to know what your company is and what kind of guidelines you wish to set forth. Are you a construction company? A hotel owner? Small business owner? Each of these can have a specific purpose and a strict guideline by which you can be held accountable.
- Here is an example of my mission statement: “We are more than a commercial real estate lending company, we are a higher level of lending.”
- As a company, we set out to not only provide lending but to do it at a higher level. This means that we do not want to be a company that forgets it’s a person on the other end of the transaction. We do not want to be a company that bends our own ethics where we see fit. Our faith in Jesus Christ is what guides the philosophy of Elevated Equities. We wish to be held accountable to exactly this.
2. Once you find your mission, write it down. From there, create a code of ethics. It does not have to be a long list. It could be only a few words. I find there should only be two rules for creating a code of ethics:
- Be clear.
- Do not break it.
3. Your mission statement and code of ethics will become the backbone of your company. The more it is used and strictly adhered to, the stronger your ability to be accountable will become. If you neglect to adhere to your own rules you set before your company, it is a quick way to lose the soul of what made your company ethically sound.
Being able to hold yourself accountable and allowing others to hold your company accountable is very rewarding. It sadly is not a skill all companies harvest, but if you put in the time and effort into being an accountable company, you will be able to reap the benefits.