This is the idea behind Stake My Rep, a social media site launched by a Canberra team. Founder Thomas Burdon said the idea stemmed from his own experience training for events.

"I used to publish my goals in a private forum where I'd say, 'I'm gonna do a triathlon', and all the guys on there would keep me accountable. I kept putting my training regime up there and I was determined to keep everyone happy – I didn't want to let the crew down so to speak," he said.

Like a "turbocharged to-do list", the site allows users to upload their goal, and then track their progress including posting evidence of some sort. Other users are able to follow your progress, cheer you on, and stake "reputation points" against your claims.

And it's not just for fitness-based goals – people have used the site to achieve goals in writing music, doing paperwork and practicing acts of kindness.

The software has also been used by the National Museum of Australia for challenges as part of the Night at the Museum events.

The project was originally funded by Canberra innovation incubator Covate and developed over the past couple of years, with the site officially launching Friday September 18 at Digress Lounge and Bar in Canberra.

The team now hopes to develop the product further to a point where they're able to sell it as software to existing companies.

"When people achieve a short win they feel good about themselves so when they string together a string of wins, it becomes even bigger," said Thomas.

"Anyone can create an account and we really want people to get on there and engage."

You can sign up for free at stakemyrep.com.

Stake My Rep will launch with a night of electronic music at Digress Lounge and Bar on September 18 at 9pm. Tickets $15 from tinyurl.com/obtzekt.