Friday, January 20th, 2017
Many firms have a Managing Partner, CEO or President. Many firms are sole-proprietorships and that owner is the Managing Partner. People within the firm look to the person in this role as the firm leader, the person-in-charge, the visionary.
In firms with multiple partners, the employees also look to the other partners as leaders and expect as much leadership from them as they do from the CEO.
Some of these “other” partners believe that leadership is up to the Managing Partner and that as a client service partner they don’t have to worry as much about inspiring staff or guiding their careers or even about following firm processes and guidelines.
This brings to mind a quote I read recently from Queen Elizabeth I of England. She ruled from 1558 until her death in 1603 and was the last monarch of the Tudor dynasty.
“A thousand eyes see all I do.”
It was rough being the Queen during those times when even her most personal actions and even her health details were observed and closely monitored by not only her personal attendants but also her subjects.
As a CPA partner, many eyes see what you do. Keep that in mind when you short-cut a procedure, delay returning a phone call or answering a question for a team member.
- "To be a king and wear a crown is a thing more glorious to them that see it then it is pleasant to them that bear it."
Thursday, January 19th, 2017
“The telephone is a good way to talk to people without having to offer them a drink.” – Fran Lebowitz
I know many CPAs who avoid talking to their clients. Yes, they have all kinds of valid excuses. I don’t mean to say that they ignore their clients but they think they save time by emailing almost all of the time.
That’s why the following thought, expressed by Simon Sinek, was meaningful to me.
“A five-minute call replaces the time it takes to read and reply to the original email and read and reply to their reply… or replies. And I no longer spend 20+ minutes crafting the perfect email – no need to.” – – Simon Sinek
So, you say, when I call my client I always get voice mail and we end up playing telephone tag. When they return my call I may be on the phone with another client.
Simple solution – set a telephone appointment.
Sinek’s quote also applies to your team members – a two-minute conversation can keep client work moving through the office rather than having the staffer wait on partners or managers to reply to emails.
Delay in getting answers from partners is one of the most common responses I receive when facilitating upward feedback surveys for partners.
I think the quote, below, applies to accounting firms!
- "For email, the old postcard rule applies. Nobody else is suppose to read your postcards, but you'd be a fool if you wrote anything private on one."
Wednesday, January 18th, 2017
Consultants, firm associations, state societies, the media and the AICPA have all been telling you about the opportunities available if you offer Client Accounting Services.
Yes, many firms used to think that “write-up” work was very low margin work. The cloud and technology have made it very lucrative.
Read this excellent article from Gale Crosley‘s recent newsletter: “From ‘Dull’ and “Commoditized’ to an ‘International Star'”.
Sign up for my newsletter here.
- "Whenever you find yourself on the side of the majority, it is time to pause and reflect."
Tuesday, January 17th, 2017
“Trust yourself. You know more than yu think you do.” – Benjamin Spock, M.D.
A few months ago I surveyed a small number of CPA firms across the country. I was curious about the kind of parental leave they offered as an employee benefit.
To my dismay, paid maternity leave is almost non-existent. CPA firms seem to approach it with a combination of actions. The employee (the mother) is encouraged to save and/or carry over PTO to be used and they combine it with short term disability options.
As far as any type of paid leave for new Dads, it seems truly non-existent.
Here is a good article from FAST Company – How Paid Parental Leave Changed in 2016.
Some progress has been made, in general, but 2016 was not an impressive year for paid parental leave. A quarter of new mothers go back to work just 10 days after giving birth.
Just so you know, in 2016, EY announced a new policy to expand its parental benefits to over 35,000 U.S. employees. Both new mothers and fathers are eligible for up to 16 weeks of fully paid parental leave for birth, adoption, surrogacy, foster care, or legal guardianship.
If you want to attract and retain young, top talent. An impressive paid parental leave policy might just be the answer.
- ""Encourage and support your kids because children are apt to live up to what you believe of them.""
Monday, January 16th, 2017
“You cannot change your destination overnight, but you can change your direction overnight.” – Jim Rohn
Think about this meaningful quote from Jim Rohn. Can you see how it applies to you and how you go about improving and growing your accounting firm?
For example, you finally agree that you need to be TRULY paperless and become a digital firm. – – That’s the destination.
You work with your people to develop a roadmap on how to get there. You start down that road. Something happens (I won’t use the other “S” word), but things do happen. You get delayed, you encounter an unexpected obstacle. Some of the things you planned don’t work well.
By all means, change your approach. Learn from those who have gone before you and adopt some different ways to arrive at your destination.
But, do not give up. Keep focused on results and reach your destination.
Then set a new destination!
- "I can't change the direction of the wind, but I can adjust my sails to always reach my destination."
Saturday, January 14th, 2017
Enjoy this January weekend by listening to Bohemian Rhapsody played on a 100+-year-old fairground organ. Quite unique.
Speaking of unique, I also shared it performed by the Muppets back in 2013.
- "A concert is not a live rendition of our album. It's a theatrical event."
Friday, January 13th, 2017
“Eliminate the term motivate. Adopt the term inspire.” – Dan Rockwell
You read about it all the time. How to motivate others. I blogged about it this week – Motivate By Individualizing. I blog about it often. Another example is on February 16, 2015 – Are you doing the right things or just things?
Then, yesterday, I read the above quote from @leadership freak. I think he’s identified the correct term.
In accounting firms, you do all kinds of things to motivate people. You GIVE them an extensive list of benefits. You GIVE them words of encouragement. You GIVE them flexibility. You GIVE them a cool workplace. You even GIVE them opportunity.
The question is, as a leader, do you INSPIRE them? Even if you are not officially in a leadership role, do you inspire your peers?
Don’t GIVE them things continually. Try BEING an inspiration. Be the leader who works hard but is always available to help others. Be the leader who does not complain about peers, subordinates or clients. Be the leader who is active in the community and has even been recognized for charitable and community work. Be the person who has achieved great satisfaction and success from being a professional working in the accounting profession.
- "Life is 10% what happens to you and 90% how you react to it."
Thursday, January 12th, 2017
“Whether you think you can or think you can’t, you’re right.” – Henry Ford
I have always loved the above quote. It is so very descriptive of many of us and it is a quote that I think needs to be embraced by accountants, CPAs and others working in public accounting.
For the most part, public accounting is very traditional, conservative and risk-adverse. Many times I have heard practitioners state, “We can’t do that yet. Are other firms doing it? We need to see if it works for other firms first.”
I work with a lot of smaller firms and I believe that it is much easier for smaller firms to make significant changes, more quickly, than larger organizations. However, in reality, many small firms are lagging behind.
If you think you can’t become totally paperless. If you think you cannot have virtual employees. If you think you cannot have various flexible work arrangements. If you think your less experienced staff cannot take on more challenging work. If you think one of your long-time partners cannot change their behavior.
You are wrong. Yes, you can!
- "We generate fears while we sit. We overcome them by action."
Wednesday, January 11th, 2017
“The way to get started is to quit talking and begin doing.” – Walt Disney
The Golden Rule, which is a good rule, for the most part, doesn’t always apply in today’s complex workplace environment.
Not everyone wants to be treated like “I” want to be treated.
These days training and development are all about, “One size fits one.”
The Association for Talent Development explains it this way: One size fits one is a movement toward providing learning to employees, clients, or children in a way that makes sense to the learner and not to the trainer, teacher or instructional designer.
CPA firm managers are often not very in-tune with the best ways to motivate and engage the people they supervise. In many CPA firms, everyone is trained the same and it is often a very long-standing aspect of the firm culture. Also, accounting firms do not spend enough money on educating and training their managers on how to manage PEOPLE.
One size fits one, acknowledges that people are motivated by immensely different things. For example, one person loves to be recognized publicly and another dreads being the center of attention.
Qualified managers (and partners) are good at understanding people and they adjust their supervisory style accordingly.
- "Don't let yesterday take up too much of today."
Tuesday, January 10th, 2017
“Perseverance is the hard work you do after you get tired of doing the hard work you already did.” – Newt Gingrich
As you already know, nearly every CPA firm is looking for new talent. It’s truly turned into a war for talent in the public accounting profession.
It’s not just public accounting, of course. According to Glassdoor’s newest report on job trends, there is a record number of unfilled jobs – 5.85 million as of April 2016 – which represent the most since BLS started tracking job openings in 2000.
Andrew Chamberlain, Glassdoor’s chief economist, shares some 2017 job trends:
#1 HR will transform itself into “people science.”
#2 Many things get automated but we don’t lose our jobs.
#3 Nontraditional benefits will become less popular.
#4 We’ll make progress narrowing the wage gap.
#5 The Gig economy will slow down.
Read more about each trend here. I know you will be interested in #3!
- "No one can make you feel inferior without your consent."