Archive for the ‘Crafting Your Career’ Category

Monday, February 17th, 2020

Frustration

“If change is happening on the outside faster than on the inside, the end is in sight.” – Jack Welch

We all like to tell our recruits and potential new-hires that “our firm is different”  – – I find that in the hundreds of firms that I have interacted with, nearly all of them have many of the same issues and frustrations.

Are you often frustrated? – “The firm” isn’t changing fast enough. New initiatives often get delayed. Leaders are not setting a good example. People leave messes in the kitchen!

All this reminds me of a story. Stories and quotations inspire me and hopefully, they do the same for you. When I was actively working inside an accounting firm, a friend of mine gave me some good advice. When something really frustrates you just substitute the word fascinated for frustrated.  When you go to get coffee, the pot has about 1/25th of an inch of coffee in it….. isn’t that fascinating?

I could elaborate more fully on the fascination of surviving in a CPA firm. But, the purpose of this blog is to communicate what you can do to make things run smoother, better, faster and more efficient.

I hope you also follow me on twitter:  @cpamanagement.

  • Laughter and tears are both responses to frustration and exhaustion. I myself prefer to laugh, since there is less cleaning up to do afterward.
  • Kurt Vonnegut

Tuesday, February 11th, 2020

What Are You Reading?

Even if you are always busy, find time to read. Of course, read the most beneficial and motivational business books. But, don’t stop there. Read for enjoyment and meaning.

While on a winter get-away, I found a copy of Tuesdays With Morrie in the villa we rented. I’m sure you have heard of it. I hadn’t read it in years so I re-read it. It’s an easy read.

Here is just one takeaway:

“Find someone to share your heart, give to your community, be at peace with yourself, try to be as human as you can be.”

If you are “too busy” to read the book, read these 14 inspiring quotes.

  • If you really want it, then you’ll make your dream happen.
  • Morrie Schwartz

Monday, February 10th, 2020

Allow Your Team to Set Their Own Goals

“Focusing on strengths is the surest way to greater job satisfaction, team performance and organizational excellence.” – Marcus Buckingham

Does your CPA firm, as part of the performance feedback system, give employees certain goals to attain? Sometimes it makes sense but not always.

One firm told me they have one goal for all new college graduates entering the firm. That one goal, until it is achieved, is to pass the CPA exam. Maybe, even this one important goal, doesn’t make sense any longer.

According to Marcus Buckingham, goals that are pushed down from on high are un-goals. Goals should have meaning for the individual and, thus, should be created by that individual for themselves.

Firms should be creating meaning for everyone in the firm. Do your people know and understand what the firm is trying to achieve and where it is going in the future? Do they realize that the firm is a service organization focused on improving the lives and financial success of their clients? Do they understand the firm’s purpose? More importantly, have you effectively communicated the firm’s purpose?

If your people truly understand the purpose of the firm and buy-in to that journey, they will be able to set meaningful goals for themselves.

Read this interesting article about goals via Marcus Buckingham titled, “The best leaders do not set goals. Here’s what they do instead.”

  • You will excel only by maximizing your strengths, never by fixing your weaknesses.
  • Marcus Buckingham

Friday, February 7th, 2020

Who Do You Trust?

“Listening is an important skill for building trust.” – Jennifer Collins

I remember hearing that Johnny Carson began his career as a game show host. When I typed in the title of this blog post, it jogged my memory, so I Googled it.

Who Do You Trust? (1956–1963) Married pairs of contestants were asked to answer questions, the husband deciding whether he or she would answer. The original emcee Edgar Bergen was later replaced by Johnny Carson.

My question is who do YOU trust at work?

I have facilitated numerous upward feedback surveys for CPA firms. If I receive several questions about how confidential the survey is I know that there is a lack of trust in firm leaders. There is almost always a fear of retaliation.

My wish is that there would be enough trust in a firm that all employees are comfortable telling the partners exactly what they think without that nagging fear.

Here’s an excerpt from a blog post by Skip Prichard that prompted my blog post. His description sure sounded like a CPA firm to me!

From Skip:

Simply put, servant leaders build a culture of trust.

Why is that key? Because without trust—for the leader, for coworkers, for the organization at large—everyone will be focused on survival rather than success. Because the opposite of a culture of trust isn’t simply “a culture without trust.” It’s a culture of fear.

What does that mean? I think of a company I worked at that, when I started, I saw a complete lack of trust. Management spent time looking for new tools to track and manage staff. It was all about analytics aimed at finding people who weren’t “working hard enough” (according to the definitions attached to the tools, at least). Those people could be put on a list and micromanaged, reprimanded or even fired.

I have often found that partners (owners) don’t trust the staff and the staff doesn’t trust all of the partners. Think about what you can do about this situation as you work your way through busy season.

  • The best way to find out if you can trust somebody is to trust them.
  • Ernest Hemingway

Wednesday, February 5th, 2020

Achieving What Matters

“A year from now you may wish you had started today.” Karen Lamb

Partners get distracted. They also get comfortable.

Sometimes they end up repeating what they do over and over again. They are not stretching themselves to change, evolve and achieve new goals. The same applies to many managers working in CPA firms.

Often, the agreed-upon goals are not achieved because guess what? They are too busy doing what they always do. New, important things that matter are put on the back burner.

Here’s a quote from Peter Drucker that you should apply:

“What results are you being paid to achieve? List three tasks that you should eliminate to be productive.” – Drucker

Once you list them – then deal with them.

  • The great glorious masterpiece of man is to know how to live with purpose.
  • Michel de Montaigne

Thursday, January 30th, 2020

If I Retire What Will I Do?

“Farming looks mighty easy when your plow is a pencil and you’re a thousand miles from the cornfield.” – Dwight D. Eisenhower

The Baby Boomer partners in accounting firms are facing a dilemma. The big question is what to do once they retire.

This challenge causes many to simply ignore retirement and just continue working. Many actually have a great fear of retiring. They picture retirement as spending time around the house and irritating their spouse. The spouses fear this, too! You can only play so much golf.

Because they have put in so many long hours at work during the last 35 years, they haven’t developed many hobbies or other interests outside of the CPA profession.

Stop and think about it. Most CPAs nearing retirement have been involved in numerous community and charitable organizations throughout their careers. They have become very interested in, and actually developed a great passion for, some of those organizations. Devoting time to causes you care about can be an opportunity for many productive years ahead.

WalterLynnJr.LR_-1-720x400I have a wonderful example. One of my former clients and a good friend, Walter Lynn merged his successful CPA practice into another firm a few years ago. While he did stay involved for the appropriate amount of time, he began furthering his strong interest in agriculture and ranching into a great passion – soil! Yes, soil and how the health of our country’s soil should be a greater concern to all of us.

He met numerous, high-profile researchers and experts and his involvement continued to grow and keep him busy doing something he thoroughly enjoyed.

Here’s what happened recently:

In response to an overwhelming demand for regenerative agriculture education and consulting services, Understanding Ag, LLC (UA), today announced the appointment of Walter Lynn, Jr. as its Chief Executive Officer.

Read the full press release here. I am so proud of Walter for taking on something that is so much bigger than grinding out his senior years in tax season after tax season. What are you going to do?

  • Let us not forget that the cultivation of the earth is the most important labor of man. When tillage begins, other arts will follow. The farmers, therefore, are the founders of civiliation.
  • Daniel Webster

Wednesday, January 29th, 2020

Old School

“There’s definitely an old school element to my music, but I also think it’s modern.” – Lenny Kravitz

How is your firm viewed by clients and prospects?

Progressive, innovative, passionate and future-focused or “old school”?

Many firms still have partners, in their 60s or older, who have been long-time rainmakers still out there being the “face of the firm.” Young partners, managers, and staff are often completely happy letting them do it.

The word on the street becomes, “they’re old school.”

Even in the age of online visibility and branding, the importance of being heard and seen in your local business community is still very important for most accounting firms. Educate your entire team about being “on stage” and representing the firm not only during business hours but after hours, too.

Older rainmakers, it is your duty to replace yourself. ALWAYS take a younger person along when you are out and about. Younger, less experienced CPAs – it’s your responsibility to ask them to take you along.

  • I don't exactly know what I mean by that, but I mean it.
  • J. D. Salinger, The Catcher in the Rye

Friday, January 24th, 2020

Provide Training For Your Leaders – Please!

“Learning never exhausts the mind.” – Leonardo da Vinci

Convergence Coaching’s Spring Transformational Leadership Program™ (TLP) is open for registration! This year-long program kicks off at the end of May and is designed to take high-potential managers, senior managers, principals, and newer partners to their next level of success in leading others and the firm.

So much is changing. Now is the time to expand your visibility & take on a meaningful role to drive change at your #firm. Learn the skills you need to advance your #role with the @ConvergenceSays TLP. Here is a helpful video –  https://youtu.be/xKP8KeKFMkg

For more detailed information about this valuable program, click here.

The program fills up quickly so don’t wait too long to register.

  • Tell me and I forget, teach me and I may remember, involve me and I learn.
  • Benjamin Franklin

Thursday, January 23rd, 2020

Banish the Interruptions

“Half of the troubles of this life can be traced to saying yes too quickly and not saying no soon enough.” – Josh Billings

You arrive at the office very early ahead of everyone else. Maybe you get up at 4:30 a.m. and work from home a couple of hours before you leave.

You need more time to get your work done because during the traditional work hours – 8 to 5 – you have too many interruptions. You cannot even walk down the hall to the coffee station without getting stopped by someone asking a question.

You are a “go-to” person and you always give people answers. Maybe you should stop.

Why are people constantly coming to you for answers and guidance? If you have hired the right people, they will not need constant guidance. If you hire B players you will be continually stuck in a squirrel cage. Hire people smarter than you. You have heard that piece of advice for years but do you actually do it?

Develop your team and shield yourself from phone calls, emails and a line outside your door.

Firm administrators, managers, and managing partners – I am talking to you!

 

  • The oldest, shortest words – ‘yes’ and ‘no’ – are those which require the most thought.
  • Pythagoras

Tuesday, January 21st, 2020

Reading For Tax Professionals

“Am I unhappy at my job?” – Tony Nitti

Whether you are a tax professional, another accountant or an admin professional working inside a public accounting firm I hope you will take the time to read this Forbes article written by Tony Nitti.

It is titled, The Five New Year’s Resolutions Every Tax Pro Should Make.

I know! You are busy. You are always busy. Find the time to read.

  • You don't have to love your career every day.
  • Tony Nitti