Monday, October 24th, 2022

Mistakes

“Mistakes should be examined, learned from, and discarded, not dwelled upon and stored.” – Tim Fargo

Here’s a real-life story from inside a CPA firm.

Tim was going through his first tax season with the firm. He was doing well, and then on one client engagement, he made a fairly significant (and stupid) mistake. From that day on, managers and partners in the firm just couldn’t forget about Tim’s mistake. He would be assigned to a project, and the comment would be, “Remember when he made that stupid mistake!” Regarding scheduling, a manager would say to the scheduler, “I need a Senior on this job, but don’t give me Tim.”

Tim went on to be successful and stayed at the firm, but probably for five years; his first-year mistake would come up in conversations. CPAs have long memories.

I have heard similar stories from multiple firms. Has this ever happened at your firm? That is why today’s quote at the beginning of this post made me think of a CPA firm.

  • "To avoid criticism, do nothing, say nothing, and be nothing."
  • Elbert Hubbard

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