Lesson 19: Accountability

Accountability occurs when you are responsible for an assignment that contributes to your team. Sports taught me the consequences and rewards of being accountable. When I played football for Vanderbilt, I only touched the field at practice but never during the game - ever. My contribution as a member of the practice squad helped prepare the team to win each week, and together, we won back-to-back bowl games for the first time in school history. I never played, let alone scored, but being a part of that team taught me that every contribution, big and small, is important. Accountability is not only about being responsible for an assignment, but it is also about reaping the rewards and bearing the consequences of fulfilling that assignment.

One of the reasons I started this newsletter is to hold myself accountable for taking steps each week toward my goal of acquiring a trade school. The steps are small, but they are progress. When I finally lead a trade school, accountability will be the engine that drives success from my seat as CEO to the seat of the student. If I can establish an environment where students feel they are contributing to a team, then we can generate a sense of accountability for their learning. 

I will be held personally accountable for the U.S. Small Business Administration’s 7(a) loan. This is a type of loan used for several purposes, including the change of ownership of a small business: I could borrow up to $5,000,000 to acquire an existing business for up to 90% of the cost of the business. Therefore, for a business worth $4,000,000, I could partner with investors to contribute $400,000 (10%) and borrow $3,600,000 (90%) through the SBA 7(a) loan for the total purchase price of $4,000,000. 

NerdWallet explains the benefits of the SBA loans, such as long repayment terms and competitive interest rates, but I would likely need to provide a personal guarantee for the loan. That means I would be held accountable until the business pays off the loan, but that is greater motivation to run a solid business that can meet its debt obligations. Accountability comes with the job of owning a business, and I must accept accountability if I expect students to be held accountable.

My vision is to leverage my influence as a Black business leader to pursue economic justice. There is an opportunity to acquire a trade school that not only creates jobs people love but also empowers each graduate to find a path toward economic prosperity. Accountability is important to this vision because it keeps my priorities straight: fulfill my assignment that contributes to my team, the business. Accountability will drive success in the business as each person understands their assignment, both big and small, to see this vision come to life.

Accountability is Lesson 19. Next week, I will share Lesson 20: Trustworthy.