Archive for the ‘Crafting Your Career’ Category

Tuesday, June 25th, 2019

Invest in Educating Yourself

“Never begrudge the money you spend on your own education.” – Jim Rohn

How much of your own money are you spending on educating yourself?

I find that people working in accounting firms assume the firm should pay for any and all resources to educate the staff. Yes, firms should be providing the appropriate dollars for CPE. But, have you ever decided not to read a book because the firm won’t pay for it? Have you been disappointed when the firm would not pay for a training course or for you to go to a conference?

If you want to grow your career you should continually be investing in yourself. If you need to be better at public speaking, join Toastmasters and pay for it yourself if the firm won’t. Subscribe to Success magazine. Carve out time to buy and read novels. Take a peer to lunch and pay for it yourself.

It’s your career. It’s your life.

  • Every moment of one's existence, one is growing into more or retreating into less.
  • Norman Mailer

Friday, June 21st, 2019

Flashback Friday – Young CPAs Start Sooner!

“The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge.” – Stephen Hawking

If you are not a young CPA – I hope you share this blog post with young CPAs. There is so much more to becoming a successful CPA than just knowing how to do the work.

  • It's what you learn after you know it all that counts.
  • John Wooden

Tuesday, June 18th, 2019

Continuous Testing for the CPA Exam

“Everything you want is out there waiting for you to ask. Everything you want also wants you. But you have to take action to get it.”     Jack Canfield

Great news for your future CPAs. In case you haven’t heard, continuous testing for the CPA Exam has been approved.

Be sure you are constantly encouraging your new hires to take the Exam! Here’s some information released by the Ohio Society of CPAs:

Soon CPA exam candidates won’t have to wait until the next testing window to retake a section, thanks to a revised NASBA rule.

In April the National Association of State Boards of Accountancy approved the Uniform Accountancy Act Model Rule 5-7(a)(2) rule, stating “…a Candidate can retake a Test Section once their grade for any previous attempt of the same Test Section has been released.” The news was announced in the May board report.

“It’s one of those things that everyone has always wanted,” said Laura Hay, CPA, vice president of The Ohio Society of CPAs. “It’s just now the administration and technology have all caught up.”

Most states, including Ohio, will have to change their rules to permit the revision, but Hay predicted most states will be in favor, and it will be a question of resources and how quickly they are able to make the change.

For future test-takers, this means saving valuable time on that 18-month countdown that begins once candidates pass the first section. According to the AICPA website, with the current system, if you take a section of the exam on July 20, you would have to wait until October to take the next section, despite receiving your score on August 6.

The plan is to roll out continuous testing by July 2020.

  • Exams test your memory, life tests your learning; others will test your patience.
  • Fennel Hudson

Friday, June 14th, 2019

Flashback Friday – Do What You Love

I am very lucky. I found a career that I simply love and it has evolved into a real purpose in life for me. How do you feel about your job? Check out this post from 2017. Don’t work years at something you dread!

Monday, June 10th, 2019

Partner Compensation & Performance Webinars

“Do your job and demand your compensation – but in that order.” – Cary Grant

Compensation and performance issues for the partner group in a CPA firm are always topics that CPA firm leaders want (and need) to know more about.

This month you have the opportunity to learn more about these topics via CPA Leadership Institute. Gary Adamson of Adamson Advisory will conduct the following three webinars in June:

Partner Compensation Methods and Trends – June 12, 2019 – 1:00 to 1:50p

Partner Compensation – How it Can Be Linked to and Help Create a Culture of Accountability and Unity – June 19, 2019 – 1:00 to 1:50p

How to Maximize Performance of Best Practices in Partner Admission, Transition and Buy-out – June 20, 2019 – 1:00 to 1:50p

  • Do what you love and the money will follow.
  • Marsha Sinetar

Thursday, June 6th, 2019

The People Around You

You are working in a firm. Take a look at the leadership group.

You are the leaders in a firm. Take a look at the people you have hired.

Sometimes the following applies for a while but not for the long term. If you feel like you might be in a cage, do something about it.

I saw the following on Facebook. Also, ask yourself, “Am I in the right circles with my social media?”

CircleCage

  • Stop letting people who do so little for you control so much of your mind, feelings and emotions.
  • Will Smith

Wednesday, June 5th, 2019

Are You Really Excellent?

“Excellence is a way of life that sustains us and inspires us day in and day out. There is no ‘long term.’ There is only the way we act when we step out into the corridor after a meeting—or, yes, the quality of your next four-line email.” – Tom Peters

The above quote from Tom Peters got me to thinking.

Firm leaders will always declare, “we provide excellent client service.” They will also tell me that excellent could be used in describing how they treat and train their employees.

Is it true at your firm?

Think about the above quote. Do you act in an excellent manner day in and day out? Do you maintain excellent behavior after a heated partner meeting? Do respond in an excellent manner when you avoid a call from an unhappy client? And, what about when you are writing an email?

  • We are what we repeatedly do. Excellence, then is not an act, but a habit.
  • Aristotle

Tuesday, June 4th, 2019

You Cannot Avoid Selling

“Approach each customer with the idea of helping him or her to solve a problem or achieve a goal, not of selling a product or service.” – Brian Tracy.

I have heard it repeated for years and years by accountants of all ages and genders – “I didn’t go into accounting to be a salesperson!”

Get over it. Everyone has something to sell. Sales is a fundamental skill. Selling is not pushing people to buy something they don’t want. Selling is moving somebody else to action. No matter what your role, you are continually selling yourself!

Firm leaders should not wait to introduce young accountants to marketing and sales. Teaching and including them at the very beginning of their career makes it a natural part of their career advancement.

Too many managers have told me that they didn’t realize the importance of marketing/sales until they were almost ready to become a partner.

In an accounting firm, the secret to practice development (bringing in clients) is to simply like people. People are naturally drawn to CPAs because they realize the knowledge you possess. Selling is also all about understanding what you are selling. Do your young accountants know?

Read this article via HBR – How to Improve Your Sales Skills Even If You’re Not a Salesperson by Rebecca Knight. Send a link to all you young accountants

  • Keep Your Sales Pipeline Full By Prospecting Continuously. Always Have More People To See Than You Have Time To See Them.
  • Brian Tracy

Thursday, May 30th, 2019

Powerful Words

TYou“We should all be thankful for those people who rekindle the inner spirit.” – Ralph Waldo Emerson

Thank you. Aren’t those words wonderful, pleasing, and sometimes rare?

I have always urged CPAs and their individual team members to handwrite personal thank you notes to their clients and others.

A handwritten thank you also makes a great impression if you have been interviewed for a job. At many firms, that simple act moves a candidate up a few notches on the hiring scale.

I received the card in the picture yesterday. A young man, completely unknown to me, contacted me to ask some questions about getting a job in public accounting. We talked about how his interest in technology would be a plus and about what size of accounting firm he should approach.

How nice of him to send me a handwritten thank you.

Maybe you have a client who has a child graduating this year, from high school or college. A handwritten congratulations card would be an impressive thing to send.

  • Let us be grateful to people who make us happy; they are the charming gardeners who make our souls blossom.
  • Marcel Proust

Friday, May 24th, 2019

A Lesson For CPA Firm Partners/Managers

You are the managing partner of a CPA firm. You are the PIC (partner-in-charge) of audit, tax, consulting or an office of the firm. You are a COO or Practice Manager. What do your employees call you? Don’t you ever wonder what they call you behind your back? Do they say you are a good boss?

You might think Steve Jobs was a fearless leader yet he’s described as egotistical and abrasive. Not exactly in line with the title: Good Boss

Jim Henson, on the other hand, by all reports was a Good Boss (his employees did call him “fearless leader”).

  • His former employees say working for him was the best job they ever had.
  • His son, Brian Henson, says: He taught me to identify a person’s talent, nurture that talent, and encourage them to look to themselves for a solution.
  • His agent says Henson rarely spoke above a whisper.
  • His wife says he was so patient that she sometimes wanted to kick him!
  • He was a good listener, accepted ideas from others and used them.
  • If he thought something hadn’t been done well, he would never say that. He would say, “Hey, I wonder if we just should try…….”

A good boss, like a good teacher, empowers their employees. This is easy to say and very hard to actually do. Most of us have egos that get in the way.

 

As for Henson, no one ever saw him angry. Far from lazy, he worked harder than anyone in his company. He rarely slept. He was not fearful. Never afraid to try something new.

Instead of miserly. Henson was generous, going well over budget in order to give others the time and space to create.

I routinely encounter accounting firm leaders who are miserly (only spend CPE dollars on technical education, won’t send their firm administrator to a conference that could bring huge pay-back to the firm, won’t spend any education/training dollars on their administrative team and support team, etc.).

Read this full article about Henson on Fast Company. It contains so much information to absorb and contemplate. How do you stack up?

  • Life is like a movie, write your own ending. Keep believing, keep pretending.
  • Jim Henson