Archive for the ‘Managers’ Category

Thursday, July 20th, 2017

Adulthood Pushed Back

“The greatest day in your life and mine is when we take total responsibility for our attitudes. That’s the day we truly grow up.” – John Maxwell

Several years ago, Rebecca Ryan warned the CPA profession that the twenty-somethings that CPAs were accustomed to managing had changed, dramatically. She noted that adulthood markers were happening during their thirties rather than in their twenties.

Just this week I found additional information on this topic that I want to share with you.

Think about it. Baby Boomers (born 1946 to 1964) graduated from college, got a job, got married and had kids when they were in their twenties. Gen-X (born 1965 to 1976) pretty much followed this same tradition.

Millennials are different. A report from the U.S. Census Bureau compares how people born between 1941 and 1957 were living as young adults in the 1970s and how people the same age lived in 2016.

Researchers established four milestones of adulthood: 1) Moving out of your parents’ house, 2) Getting married, 3) Having a child and 4) Getting a job.

  • Younger generations are delaying marriage.
  • One in 3 people ages 18 to 34 (24 million young adults) live with their parents. In 1975, it was one in 5.
  • Women ages 25 to 34 who were out of the labor force to take care of their home and family dropped from 43% to 14% between 1975 and 2016.

So, remember many of those twenty-somethings working at your firm have not actually moved into the adult world. Keep that in mind as you mentor, nurture and supervise them.

  • You're dead if you aim only for kids. Adults are only kids grown up, anyway.
  • Walt Disney

Monday, June 26th, 2017

Start Networking Now

“If you’re trying to be successful, networking is the difference between mediocre and big.” – Jeffrey Gitomer

Sure, accounting firms are getting a lot of new business via social media. Many new clients now come directly from your website. I love to see CPAs using Twitter and Instagram. There are some great blogs out there authored by CPAs.

Here comes the but. But, personal networking is still an extremely important part of career-building for CPAs working in public accounting. If you are just beginning our CPA career – begin networking now. If you have many years of experience and really haven’t been expected to bring in business up to now – begin networking now. If you are a partner who rarely brings in business – begin networking now.

I am a fan of Jeffrey Gitomer and all his writings about sales and other things. He says, “Networking is life skills and social skills combined with sales skills. It is business leisure conducted before and after work – as proposed to business frantic, which is conducted from 9 to 5 (the exception being lunch)

Here’s Gitomer’s principles of networking:

  • to get known by those who count
  • to get more prospects
  • to make more contacts
  • to make more sales
  • to build relationships
  • to make a career advancement (or just get a job)
  • to build your reputation (and be seen and known as consistent)What do you need to be a successful networker?
  • A GREAT 30-second commercial that engages and asks questions that qualify the prospect, and gets to the next step in the sales cycle if there’s an interest.
  • Your willingness to dedicate the time it takes to do it and be excellent at it.
  • A plan of where and when.To maximize your networking effectiveness, you must follow one simple rule:
    Go where your customers and prospects go, or are likely to be.

Gitomer’s recent post gives you the 21.5 BEST places to network. Be sure to read it and begin networking!

  • Let us always meet each other with a smile, for the smile is the beginning of love.
  • Mother Teresa

Tuesday, March 28th, 2017

Silence Is Often Not Golden

“Organizations are destroyed by behaviors that should be confronted but are condoned by silence.” – Dan Rockwell @leadershipfreak

I have often operated by that old phrase, “Silence Is Golden”. There were just times when it was very appropriate, in my opinion, to say nothing. For instance, when someone was very angry.

I have also often operated by another old phrase, “If you don’t have anything nice to say, don’t say anything at all”.  That advice came from my mother and maybe from Thumper.

Communication is a difficult subject and a constant struggle inside many busy accounting firms.

However, never forget – You owe people feedback. You owe your partners feedback. You even owe your bosses feedback.

You should be comfortable speaking up immediately when you notice someone doing something wrong. Many “bosses” in CPA firms seem to have missed this message.

  • A partner notices that Judy is not following firm procedures, yet the partner saves up constructive feedback until there is a performance evaluation meeting or exercise.
  • Joe is new and struggling with some tax preparation issues. The manager is aware but is silent and instead writes 57 review notes.
  • Most of the partners notice “things” that should be addressed with a staff person or an admin team member and rather than address it on the spot, they ask the firm administrator… “Can you talk to Sally?”
  • Ted, tax partner, is what we call a “wild card”. The partners are even concerned about how he might be advising clients. Nothing is said.

Yes, you can bring a lot of negativity into the work place by saying too much, talking too much and whining too much. However, there are many times when inappropriate behaviors need to be addressed.

 

 

  • Everything becomes a little different as soon as it is spoken out loud.
  • Hermann Hesse

Friday, February 24th, 2017

Be Sure to Give Your Employees C.R.A.P.

Kortes“From caring comes courage.” – Lao Tzu

It’s not what you think! This method comes from Jeff Kortes. He is an employee retention speaker, author and expert. Kortes has found that employers don’t give their employees enough C.R.A.P. and it is driving away valuable workers. Here’s the CRAP he’s talking about:

C – Caring

R – Respect

A – Appreciation

P – Praise

I became aware of Kortes this week, visited his blog site and thoroughly enjoyed his posts.

I know that in public accounting you are certainly challenged with attracting, developing and retaining people. Perhaps, the first thing you should do is develop a written employee retention strategic plan. Learn more about it, from Kortes here.

  • Caring about others, running the risk of feeling, and leaving an impact on people, brings happiness.
  • Harold Kushner

Monday, January 30th, 2017

Leaders & Managers – You Need Both

“Management is efficiency in climbing the ladder of success; leadership determines whether the ladder is leaning against the right wall.” – Stephen R. Covey

In an accounting firm, you need great partners and great managers.

Partners have the vision, they are the role models and they steer the firm in the direction of the strategic plan. Managers follow their example but have much more responsibility to get the work done. They supervise all of the staff members, teach them, encourage them and accomplish the various, identified goals.

Your firm needs great partners and you especially need great managers. In many firms, the firm administrator is an excellent example of a great manager, carrying out the wishes of the partners and working to keep the team focused on the work.

So, if you promise every young person joining your team that “they can be a partner someday,” are you telling the truth? Probably not. A firm full of partners with no managers and staff would not be building something for the long-term.

Per Gallup, great managers look inward. They look inside the firm, into each individual, into the differences in style, goals, needs and motivation of each person. Managers guide people toward the right way to release each person’s unique talents into performance.

Great leaders look outward. They look at the competition, out at the future, out at alternate routes to follow. They focus on broad patterns, finding connections, cracks, and then press home their advantage where the resistance is weakest. They must be visionaries, strategic thinkers, activators.

How is your leader and manager groups doing? Maybe it is time to realign, rethink and refocus on the proper roles for each. Both are valuable.  Read the Gallup article here.

  • The secret of managing is to keep the guys who hate you away from the guys who are undecided.
  • Casey Stengel

Tuesday, January 24th, 2017

I Can Do It A Lot Faster

“Deciding what not to do is an important as deciding what to do.” – Jessica Jackley

CPAs who have reached the manager level in a public accounting firm are not always great managers.

They have reached the manager level (usually the level just below partner) because they have worked very hard and been with the firm for several years. They are good at managing the client work. They have been trained and trained for that job. The firm has invested significant dollars in their technical knowledge advancement. They are great technicians.

Firm leaders then expect them to naturally be great managers of people – great trainers, mentors and delegators. Yet, the firm has not spent any money on teaching them how to be motivators and leaders.

Perhaps you have heard this story inside your own firm – Sally is a great manager. She brings the job in on time and under budget. She works an almost unreal amount of hours to get it done. She has an engagement team to help her. Young Bill on her team struggles with a particular part of the work. Sally takes the work back and does it herself. Her excuse is, “I know my billing rate is much higher than Bill’s but I can do it in half the time.” Thus, Bill never learns and Sally is tired and stressed.

Ask you younger people to stretch – they might just surprise you in how much they can accomplish if they are taught, managed and encouraged.

  • No person will make a great business who wants to do it all himself or get all the credit.
  • Andrew Carnegie

Wednesday, January 11th, 2017

Motivate By Individualizing

“The way to get started is to quit talking and begin doing.” – Walt Disney

The Golden Rule, which is a good rule, for the most part, doesn’t always apply in today’s complex workplace environment.

Not everyone wants to be treated like “I” want to be treated.

These days training and development are all about, “One size fits one.”

The Association for Talent Development explains it this way: One size fits one is a movement toward providing learning to employees, clients, or children in a way that makes sense to the learner and not to the trainer, teacher or instructional designer.

CPA firm managers are often not very in-tune with the best ways to motivate and engage the people they supervise. In many CPA firms, everyone is trained the same and it is often a very long-standing aspect of the firm culture. Also, accounting firms do not spend enough money on educating and training their managers on how to manage PEOPLE.

One size fits one, acknowledges that people are motivated by immensely different things. For example, one person loves to be recognized publicly and another dreads being the center of attention.

Qualified managers (and partners) are good at understanding people and they adjust their supervisory style accordingly.

 

  • Don't let yesterday take up too much of today.
  • Will Rogers

Tuesday, December 13th, 2016

Honest Feedback On What Matters Most To Employees

“Many people hear your words, but they feel your attitude.” – John Maxwell

I recently read some feedback from employees regarding what matters most to them in relation to their own manager (or leader).

Here are some comments from employees regarding what matters most to them in relation to their manager. Food for thought if you are a leader in your accounting firm.

“Practicing humility, that is, serving your people rather than insisting that they serve you.”

“A willingness to get into the trenches. In college, I worked for a deli. When we were very busy, my boss would get behind the counter and ask, “OK, what do you need me to do?”

“The best leaders have the ability to express kindness. My last two managers (one in a huge company and one in a small company) took the time to get to know me as a person and find out what motivated me.”

“Leaders need to be consistent in your principles. When you are unpredictable and make declarations based on whims, you paralyze the people beneath you.”

“A leader should separate friendships from professional relationships. I loved one manager because she asked for input from every person on staff instead of playing favorites. She didn’t always give the easiest jobs to her “friends.”

“I like a person who has the ability to help people with opposing viewpoints find common ground.” 

Think about some of these as you go through your week. Be sure to set a good example for your team. Consider doing an upward feedback survey in 2017 to see what your own team members think about your leadership ability.

  • People rarely succeed unless they have fun in what they are doing.
  • Dale Carnegie

Thursday, December 1st, 2016

Bringing In New Business

“Marketing is no longer about the stuff you make, but about the stories you tell.” – Seth Godin

Sally, a new manager in a growing CPA firm has just been told that to become a partner in the firm, she must be able to bring new business and increase revenue for the firm.

Sally is in shock. She had never realized that it was absolutely necessary to bring in business if she wanted to be a partner. After all, it is the life-blood of the firm.

Here are three simple tips to help people like Sally in your firm. It might also be very helpful to people who are already partners!

Build a relationship first. You meet someone at a Chamber event or other business mixer. They appear to have a thriving business. Talk to them about business, in general. Follow-up with an invitation to lunch or breakfast but don’t try to “sell” anything until you have connected, met and established common ground. Yes, this might take a while. Get to know them before you sell them.

Listen. Most prospective clients will be anxious to tell you what they want. Listen to them and then be prepared to tell them what they really need. Good listening skills are a critical part of selling.

Tell stories. Tell them success stories about the firm’s team members (including partners). Tell them how a specific team member has succeeded. Tell them success stories about how your firm has solved business challenges for clients. Tell them how you would like to help them (not how you want to sell them services).

You can also use these three steps to win clients via online activities.

Relationship: Use blogs, articles, news items, tax updates and other helpful information to build a relationship. That means you must have a website that is engaging – not something all about the firm. A site that people will visit often because it is helpful.

Listen: Make it easy for them to submit a question or make contact online. Make searching for how to make contact very easy. Offer a free initial consultation that can be done in person, via phone, via email or online video.

Stories: Use interesting bios about your people and how they have become successful. Tell success stories via tweets, Linkedin, Facebook even Instagram. Develop testimonials from some of your best clients and post them on your website. Testimonials are so powerful. The prospect might think, “Oh, Joe Smith uses this firm. His business seems to be growing like crazy!”

  • Storytelling is the most powerful way to put ideas into the world.
  • Robert McKee

Wednesday, November 23rd, 2016

Repetition

“Practice does not make perfect. Only perfect practice makes perfect.” – Vince Lombardi

Want a simple way to train and develop your people? Try repetition.

Think about how your new college recruits learn to become skilled accountants and CPAs. In many firms, it goes like this. You train them on basic auditing. You may send them to a 3-day training course sponsored by your firm association, state society or inside your own firm. You may do it online. But it is very focused.

Then they are assigned to engagement after engagement where they do the same thing over and over until they “get it.” Then they receive a more difficult task and they do it over and over until they become proficient, and so on. They become more and more skilled, they ask great questions and learn from others, they make mistakes and correct them and over time their confidence and skill become top notch.

People learn from repetition. It is much more effective than a one or two-day training session.

You expect your managers to bring in new business and they aren’t very good at it. This also applies to some partners, they are not able to do the basic function of a partner – perpetuate the firm. Why not apply repetition to teaching people in your firm how to sell.

You best rainmakers are the teachers. Ask them to always have a shadow (less experienced person) when they meet with a client. When they meet with a prospect. When they meet with a referral source. When they attend a business networking event. When they attend a charitable fund-raising function. When they attend a Chamber of Commerce meeting. You get the idea.

Expose them over and over again to business development situations. Have them try it on their own – over and over again. Repetition solidifies skills.

  • Don't join an easy crowd. You won't grow. Go where the expectations and the demands to perform are achieve are igh.
  • Jim Rohn