The WhIP Journal                                                         

ACCOUNTANTS ARE NUMBER 42 of 56 - After Cashier and Machine Operator.

I've summarized 3 issues below that all relate to one core issue: the problems/opportunities you find in running a public accounting firm today. (Note: don't skip issue #3) Issue #1:
Workopolis.com, Canada's biggest job site, recently posted the results to their poll for Canada's Top Rated Jobs. The results show 'ACCOUNTANT' at number 42, listed well after Cashier (34), Machine Operator (24), Construction Tradesperson (18), Director/Actor (4), and Office Clerk (35).

ACCOUNTANT was only 2 places away from the TELEMARKETER job at number 44!!
No offence to the previous listed valuable jobs or professions - but REALLY?
Accountant at number 42???
Are we happy with that?

Are we really happy with a profession that rates lower than Cashier and Office Clerk?

This bothers me immensely and it should bother every single accountant who reads this, especially everyone who has the ability to help change it!

The poll participants, each in their respective field/job/profession, were asked to rate the following:

Corporate Culture
Opportunity to Learn & Develop
Opportunity to Use Skills
Opportunity for Advancement

WHY, WHY, WHY wouldn't 'ACCOUNTANTS' be able to rate these areas with a high rating???

There is a problem in the accounting industry!

People will love to argue whether the problem is in 'public accounting' or in 'industry', but for the purposes of my interests and this eNewsletter I will focus on public accounting. [Note, for your FYI the poll lists Auditor/Comptroller at number 52].

There is a problem, in fact and in public perception, about the value of being an ACCOUNTANT in today's marketplace.

And I find that unacceptable! So should you.

Issue #2:
If you closed your business today, who would notice and why?

Have you ever thought about that? Would your clients be devastated to lose you or would they consider it an opportunity to move on or shop around?

Would they easily replace your services (*cough* commodity) and hardly miss a beat or would they be hard pressed to find a firm that could offer the same quality of relationship that you had built with them? Really think about it.

How easy are you and your firm to replace?

I know, I know you're not going out of business. As a matter of fact, you're pretty busy, especially with tax season well underway. But it doesn't take much to change that comfort level for many firms. If you suddenly lost a handful of good accounts in a short period of time, your comfort and confidence can start to feel pretty shaky. Don't think it can't happen to you!

Many firms are not in a state of active and continuing marketing and growth. They get by. They do what they can. They're busy and sometimes overwhelmed.

They're busy putting out files and fires.

Because you're so busy, very few firms actually build a business that would be sorely missed if you decided to close your doors forever.

"Too many companies mistake selling good products [services]
at a competitive price with making a lasting
impression on the people who are buying them."
William C. Taylor and Polly LaBarre,
co-authors of Mavericks at Work -
Why the Most Original Minds in Business Win

Issue #3:
Every firm, large or small, knows and understands that there is a shortage of available professionals. Further they know it's harder to attract the ones they want and even harder to keep them.
THIS IS YOUR BIGGEST PROBLEM!

Say it with me,
"THIS IS MY BIGGEST PROBLEM!"
Everything else is secondary, if you don't have the right people on your team. Many of you know what it's like to know you have the business coming in, but you don't have the team members to get the work done. The indicators don't seem to suggest that this will change for the better in the future.

Jim Carroll, a Futurist/Consultant/Keynote Speaker/Author/Columnist AND Chartered Accountant was recently featured in the April 2007 The Bottom Line published by LexisNexis. He talks about the differences from Baby Boomer accountants to the young accountants of today and tomorrow.

This is how he summarizes the difference in attitude: when he goes up a ski lift with a Baby Boomer they ask him what he does for a living. When he goes up with a young boarder they ask him what he likes to do.

He talks about the future of accounting as determined by the needs and demands of a newer, younger breed of accountants. He says the days of 9-5 hours won't work with the newer, younger breed. It's not that they won't work hard, Carroll says, and it's not because they're lazy, not at all, it's mostly because they'll be bored. They want challenges. They want great opportunities. They want to pursue things they "like to do", in work and life balance.

He says the future of accounting is about rapid skills deployment, specialization, collaboration and project management - deploying the right skills at the right time for the right purpose. If this is the case, it will provide some very large challenges for many firms. There's a shortage of skills and talent for most firms even now.

Ask yourself this question:

Why would great people want to work here?

You should be able to come up with 10 reasons.
Easily. If you want great people to do their best work for you, then you've got to create the right working environment form the moment they walk through the door.

The key is to become a firm that will attract such professionals. Can you imagine being a firm who has the opportunity to be sought after by these professionals? To be known as a firm that lives and breathes the successful ideals of today's professionals? To be a firm that has created such a dynamic workplace that great people won't leave because they would be hard-pressed to find a similar working environment?

Sadly, many firms today are still more concerned with the Time & Billing Summary than they are with implementing changes that will keep their team challenged and inspired, their clients amazed and loyal, and their own lives in balance.

I want to help change that!

There was a significant phrase at IBM posted on a lab door that says "This is not your father's IBM."

I want to find firms that are willing to say "This is not your father's accounting firm."

If these issues resonate with you, if you think there is something here to seriously explore and discuss, if you want to embrace some new ideas to effect powerful change in your firm, then please contact me. I will be choosing a limited number of firms to work with.

I believe it's very important to the profession and especially to your firm to explore these opportunities.

Although you may find yourself burdened with tax season issues, I ask you to contact me (phone/email) to book a meeting in May. I will be meeting with firms on a first come, first booked basis, for the following dates and locations: (extra dates may be added as required, or I can book a meeting to suit your schedule)

Best regards,

Debra Dowdell
Debra@PowerYourPractice.com
Bus: 905-951-9773
Toll-free: 1-888-272-2735
www.poweryourpractice.com

"Stars don't work for idiots. So as you raise the quality of your talent, you've also got to raise the quality of your management."
-Dr. John Sullivan

Best regards,

Debra Dowdell