Archive for the ‘Mentoring’ Category

Monday, June 7th, 2021

Fixing People

“Spend more time encouraging high performers. Most leaders spend too much time trying to fix low performers.” – Dan Rockwell (@Leadershipfreak)

The above comment certainly made me think about all the time many CPA firms spend trying to fix people, meaning poor performers.

How many poor performers do you have inside your firm? I bet you can name more than one!

The comment I always hear from firm administrators, HR managers, etc. is “the partners won’t let her/him go. He/She has been here for 15 years.”

If you have a poor performer, they are taking up space that could be allotted to a bright, ambitious, up-and-comer. They are a faulty cog in the wheel of efficiency.

It is not being mean or hurtful to a person. It is about clearly defining expectations and monitoring a person’s progress toward meeting those expectations. This has become even more important with the enhanced need to be technologically savvy when working in the accounting world.

I hear the story over and over again. We need a development plan for Sally. Do you have a sample? I ask, “How long has she been with the firm?” The answer, “Ten years.”

The bright spot I am hearing is that, because of working remotely, many firms have increased the responsibility of their managers. Managers must provide feedback AT LEAST twice a month or even weekly. A person who is not meeting expectations should know that fact before they have been with the firm for years.

  • Leaders set high standards. Refuse to tolerate mediocrity or poor performance
  • Brian Tracy

Tuesday, March 2nd, 2021

Be An Encourager

“We can improve our relationships with others by leaps and bounds if we become encouragers rather than critics.” Joyce Meyer

Young accountants coming into the world of public accounting might be surprised at the number of critics they encounter.

It seems, in many firms, the experienced CPAs have fallen into the habit of teaching by criticism. Too often, their expectations are not adequately communicated and yet they become critical when new college recruits struggle with the tasks they are assigned.

I have heard many new recruits say, “I never learned any of this in college.” I suppose that is the case with many new graduates entering any profession.

The next time you are writing review notes for a new hire, be sure to consider if you communicated your expectations, clearly and concisely, at the beginning of the assignment. Actually discuss the review notes verbally with the team member and be sure to offer words of encouragement.

When a new hire receives seemingly harsh, written review notes without any personal communication or encouragement, it can be very demotivating and disheartening.

Encouragement builds relationships that can result in long-term career progress. Encouragement keeps people at your firm and prevents them from seeking job satisfaction elsewhere. Read the above quote again.

  • Your talent determines what you can do. Your motivation determines how much you’re willing to do. Your attitude determines how well you do it.
  • Lou Holtz

Monday, November 16th, 2020

Real Skills (Success Skills)

“Some people call these, “soft skills.” That’s because they’re not easy to measure. But for me, they’re real skills. The skills that actually determine how far we’ll go and how it will feel to work with us as we move forward.” – Seth Godin

For many years, in public accounting, we took note of the fact that many accountants dutifully achieved the expert category when it came to technical expertise.

Also, for many years we complained that we employed some very skilled managers but nearly all of them lacked “soft skills.” I like to call them “success skills” because to reach the level of partnership in the firm a candidate had to demonstrate the ability to network in the business community, be a great conversationalist, build relationships, be an adept speaker, manage people and develop personal leadership attributes. I like Godin’s term: Real Skills.

These skills, along with the technical skills, enable a CPA to bring in business to the firm. Some current partners have even developed these skills.

My friend, Guy Gage, @PartnersCoach, has developed the Partner-Pipeline® to assist firm partners to develop the “success skills” necessary to become true firm leaders.

From Guy Gage:

There are five “Contributions” that comprise high-performing partners: strong technical capability; client experience/client relations; new business development; capacity building (talent development), and leadership capability. While no one can be exceptional in all five areas, partner-candidates should be excellent in two and competent in the other three. Since firms have addressed the technical capability, I’ve developed a program that addresses the other four areas.

To learn more about the Partner Pipeline and to download a matrix outlining the program steps that are appropriate for each level in the firm. – Associate, Senior, Supervisor, Manager, and Senior Manager, click here.

It is important to begin the success skills training early in a person’s career so that the firm always has a vibrant and healthy partner pipeline.

  • Firms can only do so much, then it's up to the individual to choose to engage. Teach them HOW with programs and coaching.
  • Guy Gage

Wednesday, November 4th, 2020

Bringing In Business

“Business opportunities are like buses, there’s always another one coming.” – Sir Richard Branson

For years now, firm leaders have been worrying about what happens when the firm’s best rainmakers retire. Often, firms have depended on one major rainmaker. The ones worrying the most are the partners who have not been rainmakers themselves.

The fact is, the baby boomer rainmakers are retiring now, on a regular basis.

To complicate the situation, how can an experienced business development partner “take along” a young person when talking with clients, attorneys, and/or bankers during COVID? I have always advised experienced partners to take a young person along. Times have changed.

Are your partners involving younger accountants in Zoom meetings with clients and others?

Let the client see the face of the person who will actually be doing the work associated with their engagement. Make that next video (or conference) call your client a 3-way or 4-way meeting.

If you are a partner or manager and about to make a quick video call to a client, stop and think! Who else should be seen by your client? Young people learn by example and now being an example involves a little more thought and effort than it has in past years.

  • You only have to do a few things right in our life so long as you don't do too many things wrong.
  • Warren Buffett

Thursday, July 23rd, 2020

Helping

“As you grow older, you will discover that you have two hands, one for helping yourself, the other for helping others.” – Maya Angelou

The above quote is another one that immediately reminded me of CPAs.

When you are a recent college graduate with an accounting degree you just want to get hired and begin to explore your career in public accounting. It is an exciting time, a stressful time. You work hard, and often long hours, to become more knowledgeable and to gain skills in dealing with clients, peers and bosses. It takes both hands… and a lot more.

Helping is a word to keep in mind as you advance in your career. When you began, you soon discovered that you were needed to help others. You became the person that new hires came to with questions and depended on for guidance.

When you became a manager and then, perhaps, a partner, you found that you had matured and began to think more like the above quote. You do not sell something to clients, you help them become more successful. You still use one hand to advance your own success but you never forget to use the other hand to mentor and coach your team and to advise and guide your clients.

  • No one is useless in this world who lightens the burdens of another.
  • Charles Dickens

Friday, June 5th, 2020

Your Mentor – Flashback Friday

“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

If you are working in the CPA profession, you should seek out a mentor. I don’t care if you are a 50-something partner (or 60-something), find someone who will tell you the truth and work on improving yourself.

Don’t rely on your mentor. You should be proactive and seek out their help if you need it. I love this story from Stephen R. Covey:

“When I was just 20 years old, I served as an assistant to the president of an organization. One time I asked him, “Why don’t you ever give me any feedback? You never tell me if you like my speeches.” And he said, “Do you want to be dependent upon me? You know within yourself what’s happening. If you want some help, you just ask me. I’m here. “From then on, I was free of the president. I didn’t have to worry about his reaction. He never praised me or blamed me, but if I wanted help, he’d give it. So I would ask him, “What do you think of this.” He served me as a source of help.”

  • The best way to find yourself is to lose yourself in the service of others.
  • Gandhi

Thursday, June 4th, 2020

Evaluate Using Words

“Handle them carefully, for words have more power than atom bombs.” -Pearl Strachan Hurd

Early in my career, I remember my firm’s partners providing feedback to me in the form of words. Yes, simple words. I have always remembered those words and I still think that keeping feedback simple is the best policy.

That is why I like the Keep Stop Start method of feedback.

The “Words” feedback method used on me was not quite that simple but it gave me more information about how I was viewed. It was a one-sheet form with many descriptive words under the categories of: Planner, Problem Solver, Communicator, Leader, Decision Maker, Trainer, Team Member and Job Expertise.

The people providing feedback would simply circle the words that described me (relating to a Planner, Problem Solver, etc.) and then indicate where I ranked (1 to 5) as a Planner, etc.

I think it is simple and powerful. I believe it must have originally came from the AICPA MAP Handbook, but I am not sure.

If you want to see a copy, you can download it here.

Keep your feedback system simple and remember the power of words!

  • Be mindful when it comes to your words. A string of some that don't mean much to you, may stick with someone else for a lifetime.
  • Rachel Wolchin

Thursday, September 26th, 2019

Men Mentoring Women

“Colleagues are a wonderful thing – but mentors, that’s where the real work gets done.” — Junot Diaz

If you have followed me for a while, or know me personally, you know that I have been a loud voice on the topic of mentoring inside a CPA firm.

I believe it is the foundation of the CPA profession – an older, more experienced person advises and teaches a younger, less experienced person (a new college graduate). That’s the way most CPAs learned their trade.

I attribute all I know and have achieved to having other people mentor, advise, coach and teach me. Almost all of my mentors were men.

In light of the MeToo era, men are becoming hesitant and even confused about how to appropriately mentor younger (or even not-so-young) females.

It is important to initially establish comfort levels and establish boundaries. Here’s an excerpt from a recent post by @leadershipfreak  (How men overcome discomfort mentoring women) as he interviews Joan Kuhl:

Joan Kuhl, author of Dig Your Heels In, offers three practical suggestions for men who feel uncomfortable mentoring women.

  1. You can’t have different rules for men and women. You might prefer public spaces or coffee shops for mentoring conversations. If you take male mentees to sporting events, you must include female mentees.
  2. Establish trust from the start. Be willing to listen to hard feedback about company culture.
  3. Focus on goals and skills. Make the relationship development specific to the business.

Be sure to read the entire post and also watch the video of the interview. It can be used for education/training inside your own firm. Mentoring matters! You don’t want to lose mentoring opportunities just because people are wondering how to proceed.

  • Our chief want in life is somebody who will make us do what we can.
  • Ralph Waldo Emerson

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, January 31st, 2019

There Are Many Ways To Mentor Someone

“The more you lose yourself in something bigger than yourself, the more energy you will have.” – – Norman Vincent Peale

I receive lots of questions about how to make mentoring a successful endeavor in a CPA firm. The following are some ways that mentoring has changed in recent years. It doesn’t have to be an older, wiser man mentoring a young, eager protege. Think of your first memory of being mentored. I bet it was a teacher or coach… someone who thought you could do more than you thought you could.

Old Rule: Mentors and mentees should have a lot in common
New Rule: The best matches are mismatches

Old Rule: Look for your mentor higher-up on the food chain
New Rule: A good mentor is anyone from whom you can learn

Old Rule: Mentoring is one-on-one
New Rule: Mentoring works best when you mix and match

Old Rule: Mentors pick their mentees
New Rule: Mentees pick their mentors

Old Rule: You are either a mentor or a mentee
New Rule: Everyone needs mentors

  • The best way a mentor can prepare another leader is to expose him or her to other great people.
  • John Maxwell