Saturday, August 30th, 2014
On the weekend, think about different things and try new things. Put those Excel spreadsheets and tax projections out of your mind and look at the world from a new viewpoint.
Here’s a science experiment to try with your kids.
- "The most exciting phrase to hear in science, the one that heralds the most discoveries, is not 'Eureka!' (I found it!) but 'That's funny...'"
Friday, August 29th, 2014
After this weekend, accounting firms will roll into mini-busy-season, dealing with all of those corporate extensions that have lagged since spring.
When you arrive at the office on Tuesday, take note of the people you hang-out with at work. Maybe even the people who sit nearby.
It’s almost like school. If you sit with the goof-offs, you become like them and adopt an “I don’t care” attitude. You just get-by with doing the minimum required.
If you are surrounded by people who keep focused, work quickly, are friendly yet don’t waste time, they are probably the ones going home at 5:30 rather than burning the midnight oil to hit the deadline. They are also the ones getting the best assignments.
Choosing who you want to be at work also flows downward to those watching you. What do they see? Who do they want to be around?
- "Children have never been very good at listening to their elders, but they have never failed to imitate them"
Thursday, August 28th, 2014
My newsletter went out yesterday. Did you get your copy?
It’s official name is “Solutions For CPA Firm Leaders” but I’m rethinking that.
I like to call it CPA MAP Talk (with Rita Keller).
Why? Because my newsletter, this blog (every business day for almost 10 years), my business Facebook page (and some of my personal page), My Google+ posts, my tweets, my LinkedIn posts and the message in all my in-person presentations is all about MAP.
By the way, how are you doing with Managing an Accounting Practice?
I hear stories. Oh boy, do I hear stories!! Many of you are puzzled, confused, stressed, disgusted – yet… passionate, determined, ambitious and caring.
I hope you will sign-up for my newsletter and follow me on the other venues. I lived through what you are living through. Never a dull moment when you are dealing with MAP. Believe it or not, most of what you are experiencing (successes and challenges) haven’t changed that much over my many years working in the profession – that’s what makes me sad. Use all of these free resources to help you PUSH your firm forward.
Twitter – @cpamanagement
Facebook – business page
Facebook – I have lots of personal and business FRIENDS.
Instagram (mostly for fun).
Also, check out my Flickr page. Click on Albums to find “Is That You With Rita?” Maybe you will see a picture of YOU.
As Margaret Mead said:
- "We all agree that your theory is crazy, but is it crazy enough?"
Wednesday, August 27th, 2014
I talk about WTTMSW during many of my presentations. It is a Tom Peters’ thing – Whoever Tries The Most Stuff Wins – - I’ve blogged about it before.
When you are facing challenges inside your growing accounting firm, I urge you to try things, experiment, test it! So what if it fails, you simply say, “Oh, well – that didn’t work, let’s try something else!” The most successful CPA firms are always exploring new ways to accomplish their goals.
Right now there is a huge challenge facing firms – We need people! is the battle cry and firms are working diligently to hire top talent.
I received an email from my friends at Wiss & Company, a large New Jersey-based accounting firm. They are hiring, just like most CPA firms I know. Yet, they are trying something different. They are offering a reward to all their contacts. Here’s a copy of the email:
They have it on their website, too.
At your firm, are you coming up with creative ways to find great talent? Are you experimenting with new and different ideas to enhance efficiency, improve communication and RETAIN top talent? If not, get busy!
Also, check out the Periodic Table from their website.
- "A person's mind is stretched by a new idea or sensation, and never shrinks back to its former dimensions."
Tuesday, August 26th, 2014
Roman has been advising CPA firms on technology topics and needs for many years and when I visit a firm they usually tell me: “Roman has been here.”
Via the AAA newsletter Roman has published 2014 information about 8 trends for CPA firms:
- Cloud Apps/Hybridization
- Big Data/Little Data
- Workflow Integration
- Security by Design
Read the full article and learn about each of these trends.
That’s a throwback picture of Roman and Ralph Hendrix at an AAA National Practice Management conference quite a few years back. Ralph is a past National President of AAA and is the COO of MACPAGE in Portland, Maine.
- "Good friends, good books, and a sleepy conscience: this is the ideal life."
Monday, August 25th, 2014
It’s almost September. We are entering the third trimester of yearly CPA firm life.
- First Trimester – Busy season (the I don’t delegate very well season)
- Second Trimester – Recover season (performance reviews, vacations and CPE season)
- Third Trimester – Gear-up season (end extension season and get ready for busy season)
Somewhere during these seasons you set some goals for yourself. For partners it is usually on a calendar year and for employees it is probably on a “performance” year – May thru April.
I rarely talk to a firm where goal-setting is not part of everyone’s performance plan. The challenge I notice is not the ability to set goals, it’s the ability to achieve them. One of the “seasons” noted above always gets in the way. The usual excuse is “I’m too busy.”
- "If you don't know where you are going, you'll end up someplace else."
Saturday, August 23rd, 2014
On a trip to Costa Rica a couple of years ago I experienced my first cappuccino with “art” on top. I was thrilled. Isn’t it amazing, sometimes, how some little thing can make you smile and feel good (remember that inside your CPA firm).
Here’s a picture of my coffee from the cafe at the Humming Bird Sanctuary in Costa Rica.
Lighten-up this weekend and check out this post on Fast Company titled, “#FastFoam: Your Latte Art, By Request“.
Next week, invite one of your valuable team members to join you for a cup of coffee and have an informal chat. Don’t talk about work. This weekend – CPAs – relax enjoy life – have your favorite beverage and take time to THINK.
- "We cannot solve our problems with the same thinking we used when we created them."
Friday, August 22nd, 2014
Whether you are an actual owner, principal, firm administrator, marketing director, HR director or a talented up-and-comer inside your CPA firm, the fact that you are following this blog means that you deeply care, and worry about the firm, the client and your team members. But what about YOU, personally?
Many of us in CPA firm management are servant leaders; we think of others first. That is what makes us good at what we do. I firmly believe that we should all put the good of the firm above any one person or group of people. If the firm does well, we all do well.
That being said, I also believe that YOU must not forget about each individual and their career success. Most progressive CPA firms have worked through a SWOT analysis (Strengths, Weaknesses, Opportunities & Threats), crafted a vision statement and documented beliefs to live by.
Have you, as a leader in your firm, done this personally? This is something I sometimes use in my individual coaching sessions and you can do it for yourself. Give it a try and see what develops. You might identify and clarify a path to where YOU are going and how you are going to get there.
Each person, no matter what their level inside a CPA firm, that continually improves their performance helps the firm to continually move forward and become more successful and an engaging place to work.
If you need a sample form (matrix) to use, just let me know.
- "If someone is going down the wrong road, he doesn't need motivation to speed him up. What he needs is education to turn him around."
Thursday, August 21st, 2014
Now is the time to take care of your talented CPAs.
As usual, I am hearing some scary stories about the lack of communication inside accounting firms.
In the summer months and into the fall, many firms are in the midst of performance evaluation/feedback sessions and salary increases.
Notice I said “summer months and into the fall” meaning that it takes WAY TOO LONG in most firms for this process to play-out. It’s time to speed-up this process.
I am reading a lot about doing away with the formal annual performance reviews and holding managers accountable for on-going feedback, mentoring and coaching of employees. Please note that this isn’t happening in many CPA firms. The reason: partners and managers have not been well-trained nor held accountable for the performance of people they supervise.
The real story often goes like this:
- In May, several supervisors/managers/partners are asked to rate specific employees.
- Most of these “evaluators” have to be reminded and nagged so that the information is actually accumulated.
- In June, performance meetings are to be scheduled and the feedback presented to the individual employees.
- Some meetings get scheduled, then postponed.
- Some meetings don’t get scheduled at all (waiting on the bosses to review everything, etc.)
- Before you know it Fall has arrived.
Meanwhile, the employees talk among themselves, wondering about the feedback. Rarely does any team member speak-up and ask the partners (bosses) what’s going on… why the delay?
Meanwhile, the bosses (partners/managers) are too busy to get to the evaluations and never explain why they are delayed or when they will actually happen.
Employees shy away from speaking-up. Partners shy away from speaking-out.
After the CPA employee suffers in silence for too long or too often – they leave the firm.
- "Waiting is painful. Forgetting is painful. But not knowing which to do is the worse kind of suffering."
Wednesday, August 20th, 2014
Jeremy Dillard, CPA recently presented on “Networking and Sales Best Practices” at the recent AICPA EDGE Conference in New Orleans. He offered some practical advice and his article was published this week via the AICPA.
I wholeheartedly agree with his assessment about the many misconceptions CPAs have about networking, such as it should be tackled only when billable work isn’t pressing and never during busy season. A networking plan should consider each of the following groups:
Follow the link, above, to read more about each of these groups.
I contend that growing a book of business begins with a simple question – How many people do you know?
I also like Dillard’s “best sales practices.”
Know – Referral sources need to know (understand) your expertise and what differentiates you. Use LinkedIn!
Like – You need your referral sources to like you because you are counting on them for introductions. Clients must like you and staff/co-workers must like you. Make yourself likable by simply being helpful.
Trust – Earn their trust (keep your word, it’s as simple as that).
Refer – If you receive a referral, you owe a referral. If you refer, you should expect one in return – it’s how the game is played.
Thanks to Mr. Dillard for sharing his insight and experiences. Here’s a link to Dillard’s website:
- "Expect the best. Prepare for the worst. Capitalize on what comes."