Archive for the ‘Culture’ Category

Friday, July 12th, 2019

Flashback Friday – There Are Many Ways to Mentor

“Do your little bit of good where you are. It’s those little bits of good put together that overwhelm the world.” – Archbishop Desmond Tutu

I have observed that many experienced CPAs seem hesitant when it comes to mentoring younger accountants. They want to know:

  • What exactly do I say?
  • What shouldn’t I say?
  • How often should we meet?
  • Where should we meet?
  • And, the list goes on…

Here’s this week’s flashback post: There Are Many Ways to Mentor Someone.

  • To add value to others, one must first value others.
  • John Maxwell

Thursday, July 11th, 2019

The Importance of the Firm Administrator

The majority of people in the accounting profession operate at Levels I and II. – Gary Boomer

There is a good article by Gary Boomer via Accounting Today – Leadership, Management, and Administration: What’s the difference”

Here are some tidbits:

Boomer refers to Jim Collins’ five levels of leadership from his book “Good to Great.” He defines the levels as:

  • Level I: Capable individual
  • Level II: Contributing team member
  • Level III: Competent manager
  • Level IV: Effective leader
  • Level V: Executive

Administrative personnel are often expected to have all the skills, especially in smaller firms that have a part-time managing partner or CEO. This is a monumental task, and often people are set up to fail in the role of firm administrator. People in these positions require professional development, peer networks, and management resources to succeed. The biggest risk is they are viewed by many accountants, including some partners, as overhead, rather than as a strategic asset.

It’s a great article – Read the entire article here.

  • People leave firms because of bad managers, not because of the firm.
  • Gary Boomer

Wednesday, July 10th, 2019

5 Hidden Challenges

“I’m not interested in preserving the status quo; I want to overthrow it.” – Machiavelli

I followed a link via Twitter by Joey Havens, the Executive Partner at Horne, LLP. @JoeyHavensCPA

It led me to – 5 Hidden Challenges.. that are drowning the accounting profession.  – These challenges are what we call, cultural quicksand. Firms that understand and avoid hidden cultural quicksand will experience an abundance of growth and enduring prosperity. What got us here as a profession will not get us where we need to go. Do not let challenges that slow us down remain hidden.

Check it out and share it with your partners.

 

  • Pessimism doesn't grow your business or even maintain the status quo. The pessimists on your staff make the job harder for everyone around them. They make difficulties out of opportunities.
  • Harvey Mackay

Tuesday, July 2nd, 2019

Build A Great Firm

I read the following quote yesterday and it inspired my comments for today:

“Everyone wants to DO what the great ones do but very few are willing to do what they DID to become great!” – Jon Gordon

I talk to various firm owners. Many tell me they want to grow. They want to be more profitable. They want to become completely paperless. They want to move to the cloud. They want to have a better system for providing feedback to their people. They want to attract top talent. They want to develop future leaders to take care of succession issues.

They have heard and read about some of the leading firms in the profession, firms that have accomplished all of the above. They want to be like them.

BUT…. read the quote again.

  • Life takes on meaning when you become motivated, set goals and charge after them in an unstoppable manner.
  • Les Brown

Monday, June 24th, 2019

Wastes To Look At In Your Firm

“Time is free, but it’s priceless. You can’t own it, but you can use it. You can’t keep it, but you can spend it. Once you’ve lost it you can never get it back.” – Harvey Mackay

Last week I read the tweet below from @AccountingEdit (Dan Hood). He was attending the Rainmaker Superconference in Atlanta. So much is said in just these few words. Read these few words and apply them to your CPA firm.

Wastes to look for (in your firm and at your clients):

Defects: In which areas are things not right the 1st time?

Waiting: Where can time taken be reduced?

Over-engineering: Do too much for money charged

Process: There’s no process or a flawed process

  • I wasted time, and now doth time waste me.
  • William Shakespeare

Monday, June 17th, 2019

Many Firms Are Adding An Extra Holiday – July 5th

“Holidays – any holiday – are such a great opportunity to focus on bringing the family together.” – Lidia Bastianich

Many firms do actually close their office on Fridays during the summer months. I was curious about how many additional firms were going to close this year on Friday, July 5th and treat their team to a four-day weekend.

I surveyed firms of all sizes all across the country. Replies came from Ohio, Vermont, Georgia, Connecticut, Oregon, Maryland, North Carolina, Illinois, California, Minnesota, New Jersey, New York, Texas, Missouri, Tennessee, Virginia, and North Dakota.

The majority of firms are closing. Several are assuming most people will take a PTO day. To me, this means someone must be in the office for calls and visitors. Some have very creative ways of handling “bonus” days and a few are very generous (allowing 2 extra days off or more).
60% of those responding are closing, 30% are not and 10% are closing but it will be charged to PTO. One firm closes for the entire week because “it is our slowest week of the year.” Another firm allows one floating holiday for each summer month (June, July, August) and assumes most people will use July 5th as their floater. And, one larger firm has unlimited PTO and assumes most people will request July 5 but the office will be open. A western firm notes that they always close the day after July 4th no matter what day it falls because most of their team will be out late watching fireworks and celebrating.
I hope this information will be helpful to you in planning for the future. This year December 23rd is a Monday (and most firms now have Christmas Eve and Christmas Day as holidays). You have time to decide how you will handle that quiet business day. Being generous is never a bad thing.
  • Liberty is the breath of life to nations.
  • George Bernard Shaw

Friday, June 7th, 2019

Flashback Friday – Does Your Firm Have a Motto or Tagline?

“It has been a motto of mine my whole life – just be yourself.” – Patrick Kane

Most firms have them. Many firms have them prominently displayed on their website. I am referring to the firm motto or tagline. Most are rather boring.

Read more here.

  • Concentration is my motto - first honesty, then industry, then concentration.
  • Andrew Carnegie

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, May 29th, 2019

Motivate Your Team

I read a recent tweet from Jon Gordon and I just had to share it with all of you.

“The greatest way to motivate is not through big speeches, bold strategy meetings or loud screaming sessions. The greatest way to motivate is through one on one meetings that enhance communication, develop connection and strengthen commitment one team member at a time.”

Enhancing communication and motivating your team are two of the biggest issues I encounter as I talk with firms around the country. It is important in big firms and small firms.

A motivated, inspired team makes all the difference.

 

  • Creating the kind of workplace that is actually fit for human life goes way beyond mere happiness.
  • Moe Carrick

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