Rita Keller, an award-winning and widely respected voice to CPA firm management, is uniquely positioned to help CPAs and their teams face rapid and significant change.
“Never assume that people in positions of responsibility are behaving responsibly.” – David McCullough
This Friday, rather than doing a Flashback post. I want to give you something different. I hope you will follow the link (below) and sit quietly for 16 minutes to learn about leadership.
This is directed to firm managing partners or hope-to-be managing partners. It is also vital information for department heads or any other leadership figures inside your accounting firm.
I was saddened this week to hear about the death of David McCullough. I have read many of his books and hope to read more. One of my recent favorites is The Pioneers.
This weekend, find a quiet spot, watch and learn about what made George Washington a great leader.
“Life is really simple, but we insist on making it complicated.” – Confucius
Here’s a Friday flashback post from 2013 that still applies today. Thoreau said: Simplify! Simplify!
CPAs tend to: Complicate! Complicate!
Have a great weekend!
This is my simple religion. There is no need for temples; no need for complicated philosophy. Our own brain, our own heart is our temple; the philosophy is kindness.
“Great vision without great people is irrelevant.” – Jim Collins
When finding talent to hire for your firm, a good friend of mine and long-time CPA management consultant, Steve Ericksen, noted that he always told his CPA firm clients to “keep their hook in the water.” Sadly, Steve has passed away, but I remember and appreciate so much of what I learned from Steve.
“Keep your hook in the water” means you must make it widely known that you are looking to hire accountants. You not only have to advertise on all reputable sites but also need to talk about it openly with everyone in your business and personal circles. When talking to attorneys, bankers, and clients, mention that your firm is hiring and actively seeking qualified candidates and ask if they know of anyone.
Make it a positive statement, such as, we are growing and expanding and now have room for more people. If you know anyone who might be interested in working for a progressive, growing, future-focused accounting firm, please let me know.
You can also mention it to friends and relatives. You never know where your next qualified hire might come from.
Train people well enough so they can leave, treat them well enough so they don't want to.
“Is there anything in the world more annoyingly creepy than an unspoken dress code?” – Douglas Coupland
Remember the TV show What Not To Wear? I always enjoyed it and was often amazed at how sloppy, untidy, and inappropriate the person was “before.” They looked pretty good “after.”
You might now be facing the challenge of what to wear as you return to the office. Even if it is only for two or three days per week, your at-home work fashions, sweat pants, shorts and t-shirts probably will not do.
Check out the article and see a picture of the leaders of the Group of Seven (G-7) nations in their official group photo recently. They all ditched their ties for the photo for the first time in 40 years.
Dress codes for CPA firms have certainly relaxed over the years. Still, your team needs some guidance on what your “relaxed” dress code means. Ties and high-heels are out. Now a button-down shirt (probably with jeans) and comfortable flats are in.
“Productivity is never an accident. It is always the result of a commitment to excellence, intelligent planning, and focused effort.” – Paul J. Meyer
I know you are always looking for new tools to help your firm become more efficient. You also want to make things easier for your valuable team members.
Much of your efficiencies these days depends on having the absolute best technology. It means the best hardware and software.
In a recent podcast, they review AuditMiner. I wasn’t aware of it but, of course, I am not an auditor! It appears to be a great tool if you do employee benefit audits.
“My expectations were reduced to zero when I was 21. Everything since then has been a bonus.” – Stephen Hawking
Signing bonuses are just one bit of ammunition in your hiring arsenal.
Just in case you aren’t up-to-date on what firms are doing in this area, a mid-size firm I recently talked with told me they are offering $10,000-$15,000 as a signing bonus.
I am sure many of you are doing the same AND many of you aren’t, but should.
The difference between ordinary and extraordinary is that little extra.
“I am convinced that nothing we do is more important than hiring and developing people. At the end of the day, you bet on people, not on strategies.” – Lawrence Bossidy
Maybe your firm is large enough to have a dedicated HR director. In many firms, the firm administrator (practice manager) is the one who fields most HR questions. No matter what size your firm YOU need to be careful what you say or do, especially if you are a partner or manager.
“To make an embarrassing admission, I like video games. That’s what got me into software engineering when I was a kid. I wanted to make money so I could buy a better computer to play better video games – nothing like saving the world.” – Elon Musk
I am posting this because Caseware was one of the products that enabled our firm to go completely paperless many, many years ago. We started that paperless journey in 1999.
Here is their message:
As part of our commitment to support and drive transformational change in the accounting and audit industry, we have evolved our brand.
Our new brand is not just a new look and feel, it is our dedication to helping our customers work more effectively, gain deeper insights and see further along the road that leads to change for the better. It is our promise to you that we will be with you every step of the way on your journey to transform insights into impact.
Welcome to the new Caseware!
Computers themselves, and software yet to be developed, will revolutionize the way we learn.
“Three things in human life are important: the first is to be kind; the second is to be kind; and the third is to be kind.” – Henry James
As I have for many years (decades?), I urge every CPA practitioner to get their house in order. That means having a solid foundation to build on. Acquirers don’t want to merge with a firm that is unorganized and/or dysfunctional. Future partners don’t want to buy in to something that is not attractive.
There are some very basic things that CPA firm leaders need to do to continually increase the value of their firm. Of course, CPAs must be technically competent, good communicators, and committed to client service. You are in a service business, just like a hotel or restaurant.
Beyond those basics, a couple more foundational items are needed to create firm value.
Culture – You (and your partners, if you have some) should devote your attention to creating a culture in which you want to work, providing your employees with a clear picture of acceptable behaviors that exemplify your core values. A culture built around consistent and strong core values will attract people with those same core values. If you discover employees who do not embrace your core values, they should be encouraged to go elsewhere.
Processes – Another foundational item thing you can do to increase the value of your firm is to implement processes, procedures, and policies that are well-documented in writing. This means the success of your firm is not solely on your shoulders and not dependent on just a few people. Having written processes and procedures ensures that you can easily get new employees up to speed quickly.
Happiness is not something ready-made. It comes from your own actions.
