Posts Tagged ‘decisions’

Friday, April 18th, 2014

Making Personal Decisions

When you are working inside a busy accounting firm, sometimes it is very difficult to “herd the cats” and reach important decisions.

Actually, whether you are an owner or a first-year staff accountant, personal decisions can be overwhelming.

For some thoughts on decision-making that impacts the firm, check-out yesterday’s blog post. Today, it is about you and your personal decisions.

Many young accountants face decisions, such as: Should I stay with the firm? Should I be more aggressive on seeking that promotion? Do I really want to continue to live in (name of city) for the rest of my life?

More experienced accountants may be contemplating: Should I buy that house because it’s in the upscale neighborhood? Should I talk to that executive recruiter who has been calling me? Do I eliminate my general clients and dig deeper into that specialized niche or segment? Do I seek to become partner and fight the work/life balance issue?

Susie Moore, in an article in the Huffington Post, gives us advice on making the right decision:

It’s important to make considered, well-thought-out decisions, especially when they’re life changing. But lets not confuse fear of failure and chronic over-thinking with decision-making. With some guidance laid out here, and by listening to your intuition, you can make the right choices in your life and feel confident?  Here are five tips:

Stop asking other people.

Trust that your inner voice, your intuition, has all you need to know. You are whole and have the answers, my friend!

Sleep on it.

There’s rarely a real rush to make a big decision, and 24 hours to make one (when there are external factors involved — e.g., your boss is waiting) is always a good idea. A fresh, relaxed mind in the morning is at its most clear.

Take some quiet time.

Whether you meditate, think best while running or simply tune in to your center while sitting on your couch with tea, be still and take an hour or two to connect with your inner wisdom. It surfaces when we allow it to.

Consider both clear outcomes of the decision in mind.

Write them down. Imagine all of a sudden that one of the two outcomes was taken off the table. Scratch it out on the paper. Do you feel disappointed or relieved with what remains? If it feels good, here’s your answer!

Create a personal deadline to making it happen.

No negotiating on this one!

 

  • Once you make a decision, the universe conspires to make it happen.
  • Ralph Waldo Emerson

Thursday, April 17th, 2014

The Agony of Decisions Inside Your Accounting Firm

As CPA firms grow, things need to change.

When you have 2 – 5 partners (owners) and a firm administrator involved in the decision-making activities, these people become used to being involved in  every operational/management decision. You have probably heard the old example that has circulated in CPA management conferences for years about it taking 5 partners and several meetings to decide on what copier (or printer) to purchase.

I can even remember when we would form a committee with partners, staff people and administrative people to research and decide on the best copier to purchase!

Did all those people want to be involved?  Yes and no. Some owners want their stamp of approval on everything but most people just don’t want the blame for a poor decision falling on their shoulders alone. It’s almost comical and the old adage, “no decision, is a decision” applies.

Thank goodness those types of routine decisions about the operational side of the firm have been placed in the hands of a professional firm administrator who navigates the partner political waters efficiently.

But, there are an ever-increasing number of more complex decisions that face firms in the current, rapidly-changing business world. Technology is just one example.  There are still many firms, although they say they are a digital firm and all work is reviewed “on screen,” allow one or two partners to continue to operate “the old-fashioned” way.

Performing client engagements has moved so far beyond reviewing on screen (or not). Progressive firms are moving to virtual services. Auditors do not have to travel to a client site and sit in a conference room (or in some cases a store room) to perform the audit.

Going forward, it’s going to take experts in HR, technology and practice growth sitting at the decision-making table and a group of owners who will respect decisions made by others.

Check back tomorrow for more about making decisions.

  • I must have a prodigious amount of mind; it takes me as much as a week, sometimes, to make it up.
  • Mark Twain