Archive for the ‘On My Mind’ Category
Monday, May 14th, 2012
Accountants in public practice, love numbers – their client’s numbers and their firm’s performance statistics. CPA firm managing partners can quote you “their” numbers accurately and rapidly – sometimes with pride and sometimes with guilt.
CPA firms participate in MAP surveys. MAP stands for Managing an Accounting Practice. After they submit their numbers, they anxiously await the report that compares their numbers to the numbers of other CPA firms. If they compare favorably with the average, they are happy.
Many CPA firm owners evaluate performance of their employees based on a rating scale of 1 to 5, one being “bad” and 5 being “excellent.” Most evaluators rate people a #3 – average and everyone seems to be happy.
To me average means mediocre. Who wants to be mediocre? Mediocrity is for losers, people with no passion or ambition.
- If you are going out for a nice dinner, do you pick the mediocre restaurant?
- Do you leave an above average tip for a mediocre waiter/waitress?
- Do you take out-of-town guests to play golf at a mediocre golf course?
Why do you settle for your firm and your people being mediocre?
The way to win new clients and the best employees is to be talked about. Most people think CPAs and CPA firms all look alike, they all look average. Don’t accept this fate – be unique, be different, be the cool firm in town.
-
All good is hard. All evil is easy. Dying, losing, cheating and mediocrity is easy. Stay away from easy.
-
Scott Alexander
Thursday, May 10th, 2012
Next month, Paul McCartney turns 70 years old. As the story goes, 20 years ago his manager suggested that 50 was a good age to retire because you don’t want to embarrass yourself.
Paul’s answer as he continues to age: “You get the argument, ‘Make way for the young kids,’ and you think, let them make way for themselves. If they’re better than me, they’ll beat me.”
For now, McCartney continues to draw huge crowds who are willing to pay a lot of money for his performance and what he contributes to their sense of well-being.
As I talk with CPAs around the country, I encounter a similar mindset. CPAs who are around 60 who intend to work until they are 70.
Rebecca Ryan of Next Generation Consulting puts it this way when addressing the Paul McCartney situation in a blog post on the Winning Is Everything blog: “That’s not how it works for you and me. We toil in organizations where some of our elders hang out – sucking up resources and biding their time, well past their expiration date. They hide behind a smokescreen of success that veils the hollowness of their contributions.”
Ryan notes that many Boomers are scared because they haven’t saved enough to retire and many of them love to work.
Relating this to the public accounting profession, my first issue is, some of them say they love to work but what they really love is coming to a nice, comfortable office every day surrounded by bright younger people and simply enjoying the environment. What would they do at home anyway?
My second issue is, younger CPAs (the younger partners and even younger managers) let this happen. They must step-up to the plate and demonstrate their ability to bring in business, manage a growing firm and take the firm to the next level. They have to prove their ability. Like the McCartney quote, “If they are better than me, they’ll beat me.”
Firm leaders, young and old, take on the project of addressing the dilemma of continuing contribution.
If a 60-something is still contributing ideas, showing creativity, providing over-the-top client service, keeping up with technology and social media and bringing in business – their performance still draws a crowd and brings in lots of money – they are contributing. If a 60-something comes in every day at nine or ten, checks emails, surfs the net, often plays golf in the afternoons and “sucks up resources” without any visible signs of personal growth – they are not contributing.
It’s going to be an issue for years to come – the oldest baby boomers are just now turning 65. Figure out your firm’s plan to deal with it.
-
I'd never just want to do what everybody else did. I'd be contributing to the sameness of everything.
-
Don Van Vliet
Monday, May 7th, 2012
Lynn Nichols, is that you with Rita?
Lynn Nichols, CPA, is legendary in the world of tax CPE. I heard his name early on in my career as CPAs raved about his tax classes. I’ve also worked on conference committees where the planners would always say: We must have Lynn Nichols!
He has a devoted and passionate audience. He has been providing tax consulting services to accounting firms for 40+ years and presents more than 100 CPE seminars sponsored by state societies and CPAs each year, plus he is a featured speaker at most major tax conferences.
Having given you all of that information (which you probably already knew), you can imagine my excitement at having my picture taken with Mr. Nichols at the Minnesota Tax Conference last fall. Now I have a “Lynn Nichols, is that you with Rita?” gem to add to my collection.
I wanted to post this now because of Mr. Nichols’ recent article that appeared in the Ohio CPA Voice magazine and in some other states’ society newsletters. It has a wonderful and important message and causes my admiration to continue to grow.
-
The mental stress and long hours associated with a CPA's work can be difficult to handle.
-
E. Lynn Nichols
Thursday, April 26th, 2012
Last week-end I read an article in a business journal – you know, the network of business newspapers across the country. You probably have one in your city. This article was in the Sacramento Business Journal.
The article reports that KPMG, the New York-based accounting firm is changing the layout of its offices nationwide from a model of having separate offices to more of a collaborative open layout with cubicles.
This is a topic I have been talking to CPAs about for quite a while. The business world has moved to a more collaborative work-style and simplified office design. The tradition of having offices on the window side of the space with cubicle “stalls” (often referred to as the bullpen) in the middle of the space is no longer practical, efficient or collaborative.
Photo: The picture is the office of Mono, a Minneapolis advertising and branding agency.
I know, as CPAs, you are thinking, “we’re not creative advertising people, we’re traditional accountants.” – - All the more reason to unleash your creativity and expand your universe (and become the cool firm in town). Baby Boomer CPAs, think back and remember when you were young and cool.
Jason Blumer of Blumer & Associates has a unique way to solve “how do we configure our office space” problem. He’s doing away with his firm’s office altogether. The firm has evolved to a true virtual environment. Listen to at least the first two minutes of this video on Accounting Today TV to find out why this works for his firm and what your firm will be facing in the future.
-
Let your soul stand cool and composed before a million universes.
-
Walt Whitman
Sunday, March 11th, 2012
It’s Sunday morning, a great time for reflection. Actually, every day is a great time for reflection. Find a time, early morning, mid-day or late at night and take time to THINK.
This week-end I want to share a poem – - it’s not exactly a “lighten-up” topic but it is a reflective topic and maybe a wake-up call for those of you who think work is life.
The poem was written by Jason Lehman who was 14 years old when he wrote it. The poem was sent to Abigail Van Buren, who after verifying that the poet was indeed a teenager wise beyond his years, published it in her February 14, 1989 “Dear Abby” column.
Present Tense
It was spring, but it was summer I wanted,
The warm days, and the great outdoors.
It was summer, but it was fall I wanted,
The colorful leaves, and the cool, dry air.
It was fall, but it was winter I wanted,
The beautiful snow, and the joy of the holiday season.
It was winter, but it was spring I wanted,
The warmth and the blossoming of nature.
I was a child, but it was adulthood I wanted,
The freedom and respect.
I was 20, but it was 30 I wanted,
To be mature, and sophisticated.
I was middle-aged, but it was 20 I wanted,
The youth and the free spirit.
I was retired, but it was middle-age I wanted,
The presence of mind without limitations.
My life was over, and I never got what I wanted.
Are you getting what you want?
-
Youth is a wonderful thing. What a crime to waste it on the young.
-
George Bernard Shaw
Thursday, February 9th, 2012
I’ve been thinking a lot about CPA firm staff surveys lately. I’m working on some ideas that could possibly make them more meaningful.
Rather than getting hung-up on how much they like the benefits, the work hours, and the food you provide, wouldn’t it be much more valuable to know who, on your team, is really engaged and passionate about what the firm stands for and its goals and values?
Image from Gallup
Employee engagement can be described as the level of commitment the team member has towards the firm. Do they speak positively about the firm to coworkers, potential employees, family and friends? Do they exert extra effort to contribute to the firm’s success? Or, do they whine and complain to each other at lunch everyday?
In case studies about employee engagement, it is often discovered the the organization’s management style is at the heart of the problem.
Maybe this is something that firm leaders should explore in the spring to find out if your team is actually engaged and passionate about the firm and public accounting.
Gallup has done a lot of research in this area. Check out – Gallup Study: Engaged Employees Inspire Company Innovation.
-
The only people for me are the mad ones, the ones who are mad to live, mad to talk, mad to be saved, desirous of everything at the same time, the ones who never yawn or say a commonplace thing, but burn, burn, burn, like fabulous yellow roman candles exploding like spiders across the stars and in the middle you see the blue centerlight pop and everybody goes “Awww!”
-
Jack Kerouac
Monday, February 6th, 2012
During 2011, I had the wonderful opportunity to meet and talk with a few CPAs who, to me, represent what the future is going to look like. I’m beginning to think of them as the accounting rebels.
Also, in 2011, I had the wonderful opportunity to meet and talk with hundreds of traditional, conservative, highly-skilled CPAs who are embracing change at a snail’s pace. They represent what the CPA profession still looks like, for the most part.
We need more rebels. And, all of those highly-skilled, traditional accountants CAN become one!
If you follow this blog, you know that my world is all about the massive change barreling toward the accounting profession. It has been rolling down the track for several years but the majority of practitioners haven’t actually heard the loud whistle on the train of change.
This whole “keeping up with change” thing has been on my mind more than ever recently because I have had the opportunity to speak to hundreds of CPAs during the last few months and most of them were from small to mid-size firms.
When I speak at conferences, I always try to attend as many of the other session as possible. The questions that CPAs ask during these various sessions helps me better understand their challenges. This fall some of the questions surprised me and helped me see that many practitioners are yet aware of the rapidly changing management, marketing and technology trends in the profession.
For example, during a social media presentation, three highly-qualified professional service firm marketers were discussing the merits of Pull marketing. As they were talking, one partner attendee slowly raised his hand and inquired, “what is Pull marketing? I don’t understand what you are talking about.” I truly admired the panel, they immediately refocused and turned their discussion toward a more educational theme. I also truly admire the CPA, he asked the question that many in the room wanted to know.
How do YOU become an accounting firm rebel? You, like the CPA mentioned above, must be curious, rather than complacent. You must begin reading everything you can about the current trends in the profession. But, that is not enough. You must read everything you can about trends in business, in general, especially small business if that is your firm’s focus. Plan now to attend MAP conferences and sessions, state society meetings, join a CPA firm association and, most importantly, talk to your own clients. Ask them questions about the challenges they are facing.
The most important thing you can do, if you are an owner or work inside a CPA firm, is to speak-up. Ask the dumb question. Question the status-quo. Embrace change and thrive. Avoid complacency. Too many CPAs just go along with the pack doing what other firms are doing, rather than being creative and unique.
Urban dictionary – A rebel is a person who stands up for their own personal opinions despite what anyone else says. True rebels know who they are and do not compromise their individuality or personal opinion for anyone.
“Here’s to the crazy ones. The misfits. The rebels. The troublemakers. The round pegs in the square holes – the ones who see things differently. They’re not fond of rules and they have no respect for the status quo. You can praise them, disagree with them, quote them, disbelieve them, glorify or vilify them. About the only thing that you can’t do is ignore them – because they change things. They push the human race forward. And while some may see them as the crazy ones, we see genius. Because the people who are crazy enough to think they can change the world, are the ones who do.” ~ Jack Kerouac (1922 – 1969)
-
A populace never rebels from passion for attack, but from impatience of suffering.
-
Edmund Burke
Monday, January 2nd, 2012
A while back I was reading a Starbucks cup. Yes, I told you I read a lot, but even for me that’s pretty pathetic.
But wait, the simple message on a cup “spoke” to me. I adapted it for a CPA audience and wanted to share it with you as you enter yet another NEW year.
I invite YOU to LISTEN to your DESIRES and to renew your hope to SEE your firm not as it is, but as it could be. Go ahead. WISH. It’s what makes the NEW YEAR exciting and NEW.
While wishing is fun, it is only the first step. Take the time to wish and dream so you can visualize where you want to be. Then you must take action.
During 2011, most accounting firm leaders invested money into partner retreats and strategic planning meetings. Perhaps you have already identified the “wishes” and drafted a plan for 2012 to accomplish your strategic goals. Do not waste this investment, beginning tomorrow, take ACTION to make 2012 exciting and NEW (and rewarding).
-
While wishing and hoping makes you a dreamer, acting and doing makes you someone who can turn dreams into reality.
-
Nan Russell
Friday, December 23rd, 2011
In CPA firms, in accounting departments and in business in general, time is the focus.
In the vast majority (although we are seeing some progress towards value pricing – be sure to read Ron Baker’s new book Implementing Value Pricing), time is the focus of what everyone does and employees must account for every minute of every day. As I talk with CPAs around the country, I hear, “If I only had more time.” “I’m too busy to give attention to a lot of things at the firm.” “If I had more time I would….(fill in the blank).”
One of my favorite quotes comes from the late Jim Rohn, motivational speaker and personal development guru:
“Time is more valuable than money. You can get more money, but you cannot get more time.”
I not only want you to find a way to get some spare time, I want you to USE it to think and re-energize. Read this post, Free Time Ain’t Free Unless You Use It, on the Inc. site by John Baldoni.
Mr. Baldoni had to spend some time recuperating from foot surgery and could not “work.” Of course, I was extremely pleased that he used the time to read plus, he took some important management lessons from his reading.
During this extremely busy holiday season (at home and at work), please try to find some down time, just for yourself, to think and read even if it is only for TWO hours.
-
Time is money, especially when you are talking to a lawyer or buying a commercial.
-
Frank Dane
Thursday, December 15th, 2011
I’m sure you have already mailed your holiday cards for this year but it is never too early to be thinking about next year.
What can you do to make your CPA firm unique? Yes, I mean unique in MANY ways but how about holiday greetings?
Back in 2006, I shared an idea about using a graphic artist to design a card that uses your logo in a unique way. Follow this link to see the 2006 blog post and picture.
I’ve received some unique greetings this year from some firms (who are friends) that demonstrate some clever online holiday wishes.
One came from Dave Katri, CEO of Clark Nuber in Bellevue, WA and another from Gary Shamis of SS&G, headquartered in northeast Ohio.
Don’t hesitate to show your creative side with something beautiful, inspirational, funny or even weird.
-
You're only given a little spark of madness. You mustn't lose it.
-
Robin Williams
