Friday, October 31st, 2014

Lighten-Up, It’s Halloween – Be Sure To Look Under Your Bed Tonight

Some special quotes for Halloween.

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“The thing under my bed waiting to grab my ankle isn’t real. I know that, and I also know that if I’m careful to keep my foot under the covers, it will never be able to grab my ankle.” – – Stephen King, Night Shift

“There are certain themes of which the interest is all-absorbing, but which are too entirely horrible for the purposes of legitimate fiction.” – – Edgar Allan Poe, The Premature Burial

“If I cannot inspire love, I will cause fear!” – – Mary Shelley, Frankenstein

“Houses are not haunted. We are haunted, and regardless of the architecture with which we surround ourselves, our ghosts stay with us until we ourselves are ghosts.” – – Dean Koontz, Velocity

 

I thought I would share my favorite book for this time of year – The Monster at the End of This Book.monster

I read it many times to my son and my grandchildren also loved it. If you have small children or grandchildren this is a must-read to share with them.

 

Today is the day to begin unmasking your potential! – – Happy Halloween!

 

Thursday, October 30th, 2014

Twitter & CPAs

I was recently speaking to a group of about 25 CPA firm people – partners, firm administrators, etc. from various firms in one particular state.

I asked how many in the room were using Twitter. One hand went up and it happened to be a CPA firm consultant. Honestly, I was somewhat surprised. No one, employed by a CPA firm in the room, was using Twitter. When I ask this question of groups, I usually have a sprinkling of hands go up.

Twitter is something I use for efficiency and information. I follow a few people and organizations.  This week, I was able to keep current on the AICPA fall council meeting via Twitter (because of the hash tag). It was almost like being there.

Read my June 17th post Twitter As A Resource to learn more.

RobertAnother tidbit, when I blogged about Robert Raiola, CPA (@SportsTaxMan) on January 30th, 2013 and his use of Twitter, I was rather surprised at the number of followers he had, because he was a CPA. He had 14,000 followers. He now has 35,200 followers.

Actually, there are many CPAs tweeting really good stuff! Explore what tweeting can do for your firm.

  • "Our legacy is how we spend our time and who we spend it with."
  • Jim Stengel

Wednesday, October 29th, 2014

Bring Clarity To The Role Of A Partner In A CPA Firm

In a recent newsletter from August Aquila of Aquila Global Advisors, August identified some of the things partners need to do to help the firm be successful.

There is a critical link between partner behavior and what the firm is trying to achieve. Here’s a list to give to all of your partners. Then discuss it and then do it.

Being a leader means partners must:

  • Make a personal economic contribution
  • Bring in new business
  • Bring the firm’s resources to their clients
  • Pass work to their colleagues
  • Develop their people’s capabilities
  • Persuade their people to join the partners on the journey and to play a part in building a better firm
  • Help their colleagues and, through them, the firm
  • Live the firm’s values all day, every day
  • Never be satisfied with second best
  • Be role models for high performance and judgment, the people members of the firm turn to for inspiration and help
  • Stand up and be counted

Read Aquila’s newsletter article here.

  • "The only limit to our realization of tomorrow will be our doubts of today."
  • Franklin D. Roosevelt

Tuesday, October 28th, 2014

Mentoring Really Does Matter – Join Me For A Special Session

DSCN0750 - Version 3I am delighted to be speaking on November 20th in Rockville, Maryland about the importance of mentoring inside a busy CPA firm. Mentoring is an important part of the succession plan for any firm or company.

So much about mentoring has changed. It is not the old fashioned system where a successful, powerful male taps a mini-me on the shoulder and guides him through the mine fields of climbing the corporate ladder.

There are 4 levels of mentoring inside an accounting firm: Guide, Coach, Mentor and Sponsor – each one is important and helps set the stage for career success.

How healthy is your firm’s mentoring program?

The event is co-sponsored by the Washington DC and Baltimore Chapters of The Association for Accounting Administration. CPAs in public or private, firm administrators, HR Directors, partners and partner wanabes should plan to attend.

When:  Thursday November 20th

Where:  Kaplan University, 1390 Piccard Dr., Ste. 100 – Rockville, MD

Time:  9:30 registration – Presentation: 10:00 – 3:00 (lunch included)

More information here.

  • "It is not fair to ask of others what you are unwilling to do yourself."
  • Eleanor Roosevelt

Monday, October 27th, 2014

This Blog & My Adventure

Just a heads-up to my many loyal readers. I might miss a few posts over the next few weeks. Since 2006, I have been posting every work-day about CPA firm management. I have rarely missed a day, even when I am on vacation.

Keep reading everyday – I’ll be able to post most days while I am gone.

But, if you want to follow my adventure and see some pictures head on over to my Keller Advisors Facebook page – add your “like” while you are there.

  • "Carry the sun inside you and reach out for the dreams that guide you. You have everything you need to take your where you want to go then."
  • Dainere Anthoney

Saturday, October 25th, 2014

Lighten-Up, It’s The Weekend – Nature Is Amazing

IMG_2020I came across this video about wolves being introduced back into Yellowstone National Park and the amazing transformation that has occurred.  I have been there (several times) and have had the wonderful opportunity to observe the wolves – in winter and in summer.

I believe that many people, being caught-up in their busy lives, often forget about things like the true balance of nature and other wonders of our beautiful earth.

I hope you’ll take about 5 minutes to lighten-up and watch this video. I did notice that the narrator (with a British accent.. I think… speaks of deer and the picture shows elk). Oh well, he’s probably never been there. Of course, there are deer, elk and antelope in Yellowstone. And yes, we have also observed the grizzlies there (from a distance!).

  • "While my interest in natural history has added very little to my sum of achievement, it has added immeasurably to my sum of enjoyment in life."
  • Theodore Roosevelt

Friday, October 24th, 2014

Millennials – Don’t Overreact

10352910_10152827659781535_751124781211827779_nI do talk about Millennials quite a bit. Especially, because accounting firms hire a lot of new college graduates as entry-level staffers.

Currently, the new college graduates are called Millennials because they were born from 1980 onward. That means many of them in your accounting firm are in their early 30s.

I think the biggest deal about Millennials inside accounting firms is that they are so much more savvy about technology and the social media world most of us live in these days.

I really like millennials and when I was working everyday inside a growing firm, the interns were special to me – honest, hardworking, intelligent. Wait! Doesn’t that describe almost every accountant and others who work inside CPA firms, no matter what their age? Yes, Millennials are regular people, too and we sometimes overreact in trying to figure them out.

One tidbit I read several years ago was from a Baby Boomer: Millennials want the same thing we wanted as we entered the workforce, they just have the guts to ask for it.

If your CPA firm is hiring (and every firm I talk to is hiring right now), read the article and watch this very informative (and short) video from Fast Company. 

If you are managing Millennials, my advice:  Chill-out, they are regular people, too. Talk to them like adults.

Additional note, my firm took-off on a progressive and ambitious growth path when the founder retired and a 32-year old was named managing partner.

Photo credit: Lumsden McCormick

  • "Older men declare war. But it is youth that must fight and die."
  • Herbert Hoover

Thursday, October 23rd, 2014

QuickBooks Online & The CPA Firm

As I talk with CPA practitioners and their teams around the country, the minute QBO is mentioned (QuickBooks Online), the whining begins. I’m talking serious whining here!

I think you know by now, I am here to convey honesty and insight into the world of CPA firm management. I try to offer solutions and alternatives to every issue. That’s why I am addressing this QBO issue.

For years and years I have heard anguish and pain about the different “versions” of QB and how difficult it is to keep CPA firm clients on the most recent version of QB. Some firms report that they must keep a significant number of QB versions active on their servers just to serve the clients. Some firms have even adopted a policy to force all clients to stay current on versions.

All of that, of course, would be solved with an online version and the phasing out of all desktop versions. That is what Intuit is doing.

It doesn’t seem to be going so well, so far.  Users and practitioners are stirred-up and very negative. The most positive comment I have heard about QBO  is “Well, it has its limitations.”

Please note, I am not a user. I cannot do anything but communicate what I am hearing and reading and offer possible solutions.

As with most issues involving significant change, people (users) will get used to it. But, for now, this move to the cloud does not seem like an enjoyable experience.

Yesterday on AccountingWeb, Nate Stewart wrote, “Why QuickBooks’ Cloud Bet Matters To Everyone.” He notes that Intuit says, “QuickBooks Online is the future and it’s better to go with the tide than against it.”

Here’s a review by PC Magazine and it compares similar products.

When I read articles like these online, I always view the comments (I urge you to do the same). Sometimes they are very insightful. One comment seemed to be aligned with what I actually hear from CPA firm users, “With 15 years experience using Quickbooks both online and PC/MAC versions, I can honestly say avoid the online version like the plague.”

I’m sure it will get better, so be patient but I also recommend exploring options like Xero and others.

  • "Rivers know this: there is no hurry. We shall get there some day."
  • A.A. Milne, Winnie-the-Pooh

Tuesday, October 21st, 2014

Reminder About CPACA Succession Survey

CPA_LogoThis week, things at your firm just might be a little less hectic than they have been in recent weeks.

Back in September, I invited firms to respond to a survey that is being conducted to determine how partners in CPA firms view their firm’s ability to address the succession of their partners primarily as they approach retirement.

Because of the fall tax due dates, we are offering extended time to complete the survey. Thanks so much to those of you who have already completed the survey and for all others, now you have more time! The survey will now close on October 31.

The survey consists of 15 short, simple statements to which respondents will enter their level of agreement. It should take no more than 10 minutes to complete. We will be releasing our findings in the form of an article that will include ideas and practical advice your firm can apply. All survey participants who supply us with contact information will receive a copy of the article as well as access to interviews we are doing with CPA firm leaders and emerging leaders.

Here is a link to where you can complete the survey.

 

  • "For fast-acting relief, try slowing down."
  • Lily Tomlin

Tuesday, October 21st, 2014

It’s Bigger Than Engaging Your People

Okay, so you know I love quotations. I am not a purest about them…. I realize there are many mis-quotes out there or pure quotes attributed to the wrong person. That doesn’t bother me a great deal. If I find a few words that inspire me, make the think or even cause me to take action – that’s good enough for me. Some even inspire me to write a blog post for people working at CPA firms!

“Love life. Engage in it. Give it all you’ve got. Love it with a passion because life truly does give back, many times over, what you put into it.” – – Maya Angelou

In my work with accountants (CPAs), I often find that to them… work is life. They truly love their work. They can be completely absorbed and captivated by a tax issue. They can become obsessed with the organization, planning and carrying-out of an audit.

Of course, I am speaking in generalities. They love their work with a passion. But, do they love life with a passion? Many enjoy amazing monetary pay-back for their efforts and passion for work. But is that engaging in life? I know many who never take all of their vacation time. Many who never read fiction or biographies for enjoyment. They are too busy.

I have been consistent in my message to accountants about engaging their people. People like to work for people they like. People come to like people they know.

How involved are you, as a CPA firm leader and role model, with the people who work for you and your firm?

Succession planning, strategic planning, practice growth, partner unity – and even more issues facing CPA firm leaders could be solved if leaders were more engaged with their people and their peers.

People (the best talent) would stay with firms and become owners in the future if they felt engaged with leaders who demonstrate that they are engaged in life.

  • "If you don't like something, change it. If you can't change it, change your attitude."
  • Maya Angelou