Other Thoughts

You are currently browsing the archive for the Other Thoughts category.

Freakin’ Cloudsway (a hot new document management/accounting product going live soon) flew Jody Padar, myself and Greg Kyte out to SXSW to spend time with Kasey Bayne and the crew of Freshbooks at their ranch.  Our motto was “CPAs Gone Wild” and we cleared out a deck of loyal Freshbooks users when we started the live podcast taping (sorry about that).

Jason Blumer, Jody Padar, Greg Kyte, Tom Hood and Kasey Bayne

Here is the final report:

First stop was Greg Kyte’s big gulp and the purchase of the lottery ticket:

Jason rides the mechanical bull at SXSW:

The Accountancy Revolution has begun and it’s exciting!

The first part of this exciting change I noted in the first post on this topic is the “rapid technological means of data creation and production” that we are seeing change our profession.

As noted, the changes we are experiencing are rapid.  Unlike my past history in this profession, the changes are almost difficult to keep up with.  To stay abreast of the new software and the new methods of accounting data manipulation are setting apart the accountants who can keep up with it… and those who can not.  And those that benefit are the client, if we decide to take it to them.

Note that accounting data creation is becoming a result of bank feeds, automated server calls and intelligent API design.  We are moving away from the need for accountants to manipulate accounting data and seeing more intelligent computers take over.  This change probably brings fear for some of those in the profession.  But I find it intriguing!

First of all, it can’t be stopped.  Second, these changes are going to be catalysts to push our profession to stop doing accounting and begin offering services that other professions can’t offer.

We can now focus on developing our design expertise on the client’s business process, education towards more effective ways of operation within their businesses and developing key metrics and business intelligence for the client.

So don’t let these rapid changes of managing technological data scare you.  Instead, let them be an impetus toward higher service in our great calling as business specialists!

 

 

Samuel Slater (1768–1835) popularly called &qu...

Image via Wikipedia

My family and I have enjoyed our time in the nation’s capital mooching from all of the free museum visits we can fit in between Uno’s pizza and screaming kids.  I’m of the age now that I like learning about our history.  I noted the exhibit about how our nation has changed over the years, particularly the one about the Industrial Revolution.  The one where there were such economic, mechanical and technological improvements in our country that artisan owners became business owners (Samuel Slater was the freakin’ master).  That is, instead of directly creating their craft (horseshoes, cotton blankets, etc.), those that owned the means of creation (like a mill) became business owners that managed their mill and it’s people.  And they could now own more than one mill, and continue to manage their resources effectively towards greater profit.  But they needed help – thus, the Manager was born, the individual that assisted them in running their plant, managing the output, the people and the quality control.  The middle class is a result.

Some had the foresight to see what this technological and economic upheaval would become.  Some took advantage of the change and prospered.  Some didn’t like change, and the change ultimately ran them over.  Some look back, while others look forward.

What would you have done had you known what these technological changes would have brought?  Would you be the dissenter or the one pushing the change?

Well, here is a warning for you: there is a similar change happening before our eyes in the accountancy profession, and it is affecting the whole world.  Here it is:

Rapid technological means of data creation and production are allowing the former manual manipulation of raw accounting data to disappear, forcing the profession of accountancy to be redefined towards enhancing and developing internal business processes which will ultimately become digital conduits of paperless productions of varied financial reporting.

Huh?

There are five distinct aspects to this change noted in the quote above:

1.  “Rapid technological means of data creation and production…”

2.  “…allowing the former manual manipulation of raw accounting data to disappear…”

3.  “…forcing the profession of accountancy to be redefined towards enhancing and developing internal business processes…”

4.  “…which will ultimately become digital conduits…”

5.  “…of paperless productions of varied financial reporting.”

 

Stayed tuned for the dissertation.

Enhanced by Zemanta

I wonder what Spike Jones would say?

Leave it in the comments, dang it.

Social Media has opened up the door for so many of us to connect with each other across the country and across the globe.  Communication is instantaneous.  Our network is unbelievable.   If any one of us needs something, there is a group of connected personalities that will answer in moments.

This connect-the-dots picture formed gradually and continues to grow with buzz about industry topics, hobbies, music, family, sports, and various interests.  Social media paves the way for sharing bits and pieces about what is important to us.  When those important things become threatened, a band of soldiers immediately respond to the call.  We come to know one another and develop a care for each individual person and what they hold dear to their heart.   Any one of us would band together to defend a brand, a cause or an issue.

Borders?  What are borders?  We have none.

We are a caring group that when someone we have come to love is in need, we come together to see how we can help.  Immediately following the Earthquake in New Zealand, tweets went out to our friends and family across the globe to see what we could do and how we could help.  Prayers, thoughts and efforts to organize financial relief filled the airwaves.  As soon as we hit the social channels with our friends needing help, immediately people responded with “Count Me In.”  “How Can I Help?”   We shared stories of recovery, bravery, sadness, survivorship and instances of back up plans and help.

We are so blessed to belong to such a wonderful family.

Still looking to help our friends in New Zealand?

Give a little http://www.givealittle.co.nz/default.aspx

New Zealand Red Cross http://www.redcross.org.nz/cms_display.php

Kara R. Haas, CPA, CFE, CITP, ARA offers a solid mix of accounting knowledge and technology to assist businesses in reaching their goals.  Kara worked in manufacturing and family business for several years developing a passion for accounting.  She obtained a Master of Science in Accounting from Marquette University.  She later earned the Certified Fraud Examiner designation and most recently the Certified Information Technology Professional designation.   Kara is a member of both the Florida Institute of Certified Public Accountants and the American Institute of Certified Public Accountants.  She has spent several years working with Intuit products, particularly Enterprise, QuickBooks Point of Sale and third party integrated applications.   She continues to support these applications offering assistance to clients and other accountants.  Additionally, her interest in accounting software, technology and assisting Independent Retailers continues to flourish and has opened additional software offerings/support including programs that work on any platform: Windows or Mac OS.

Enhanced by Zemanta

<<Sign up for the initial orientation webinar on the future of our industry at: http://thriveal.eventbrite.com/ to be held Friday, December 10th, 11 am, EST time>>

GREENVILLE, SC – November 5, 2010 – Jason M. Blumer, CPA, CFE, owner of Blumer & Associates, CPAs is pleased to announce the launch of the THRIVEal +CPA Network (THRIVEal)—a CPA/accountancy network and consultancy for young and younger-minded professionals who are ready to move into the world of firm ownership.

THRIVEal is geared toward the Gen X and Y demographic, comprised of members who understand and actively leverage the New Marketing, New Management, New Processes, and New Technology of today’s New Firm. Though focused on young profesionals, CPA’s and accountants of all ages who support a new way of doing business are encouraged to join.

The THRIVEal +CPA Network represents a global forum for professionals interested in the four fundamental tenets of today’s next-generation firms—Community, Collaboration, Technology, and Innovation. Sporting the tagline, “Cloud People,” network members focus heavily on the value of Cloud technology in streamlining workflow and implementing paperless, highly efficient processes firm wide.

As the accounting profession has changed, due to extreme technological enhancements and new workflow strategies, a gap has formed between older and younger professionals. This has made it difficult for the younger sect to experience a feeling of community, collaborate with other like-minded CPA’s, and engage in new innovations and Cloud technologies. And with higher fees required by most CPA alliances, like networks are typically unavailable to the small start-up firm. THRIVEal solves this issue.

“I have a vision for our industry—a direct result of working for too many years in a traditional firm,” stated Jason Blumer. “During my transactional firm days, I saw the need to serve the new generation of clients differently…with technology and innovations that had not yet been fully developed. There was a gap and I wanted to fill it. Years later, I’ve transformed my father’s practice into a New Firm, leveraging technology and innovative practices. As a result, I’ve experienced a 400% growth rate.”

Soon after launching his New Firm, Blumer also recognized the gap in the profession between old-school leaders and the younger and younger-minded generation of accountants. “I see the THRIVEal Network as a way to close this gap,” said Blumer. “I want it to be a hotbed of innovation and collaboration among a diverse group of members!”

The THRIVEal +CPA Network officially launched in November 2010. There is no initial cost to join. For more information on THRIVEal and it’s release, please sign up for the launch webinar to be held on Friday, December 10, 2010 at 11 am, Eastern time.  Those interested in changing the industry can register for this free live webinar here: http://thriveal.eventbrite.com/

###

Enhanced by Zemanta
Beloit College
Image via Wikipedia

Beloit College releases a mindset list every year, which “provides a look at the cultural touchstones that shape the lives of students entering college…”.  Some of it is shocking.  The students entering this fall (born in 1992) have these things in common (the full list, Copyright (c) 2010 Beloit College, can be found here):

1. Few in the class know how to write in cursive.

2. Email is just too slow, and they seldom if ever use snail mail.

10. A quarter of the class has at least one immigrant parent, and the immigration debate is not a big priority…unless it involves “real” aliens from another planet.

11. John McEnroe has never played professional tennis.

12. Clint Eastwood is better known as a sensitive director than as Dirty Harry.

16. Korean cars have always been a staple on American highways.

17. Trading Chocolate the Moose for Patti the Platypus helped build their Beanie Baby collection.

18. Fergie is a pop singer, not a princess.

19. They never twisted the coiled handset wire aimlessly around their wrists while chatting on the phone.

25. Leno and Letterman have always been trading insults on opposing networks.

27. Computers have never lacked a CD-ROM disk drive.

32. Czechoslovakia has never existed.

35. Once they got through security, going to the airport has always resembled going to the mall.

43. Russians and Americans have always been living together in space.

44. The dominance of television news by the three networks passed while they were still in their cribs.

46. Nirvana is on the classic oldies station.

50. Toothpaste tubes have always stood up on their caps.

57. A purple dinosaur has always supplanted Barney Google and Barney Fife.

58. Beethoven has always been a dog.

59. By the time their folks might have noticed Coca Cola’s new Tab Clear, it was gone.

60. Walmart has never sold handguns over the counter in the lower 48.

61. Presidential appointees have always been required to be more precise about paying their nannies’ withholding tax, or else.

62. Having hundreds of cable channels but nothing to watch has always been routine.

64. The U.S, Canada, and Mexico have always agreed to trade freely.

65. They first met Michelangelo when he was just a computer virus.

68. They have never worried about a Russian missile strike on the U.S.

69. The Post Office has always been going broke.

70. The artist formerly known as Snoop Doggy Dogg has always been rapping.

71. The nation has never approved of the job Congress is doing.

Enhanced by Zemanta
Gpigraph
Image by miss_rogue via Flickr

I listened to a podcast recently on the debt of various countries, and how its growing.  Those countries with significant consumer debt as compared to their GDP (or the measure of their country’s output) are falling or hurting very severely.  The US isn’t as bad as some of the worst countries, but our debt is growing at a pretty rapid pace.

The podcast mentioned two reasons consumers and companies incur debt:

1.  If their desired spending exceeds their desired income. Stupid.  Listen to some Dave Ramsey rants to figure out you need to lower your “desired spending” below your current income.

2.  If they believe they can use the borrowed money to invest in a higher future return. This was a practice started in the 70s (according to the podcast), and typically worked out well.  Taking on debt now, and investing it in a good business idea returned a pretty good return as your business grew.

But that was then…

1.  Debt is NOT as good an investment as it used to be.  I don’t believe #2 above is true anymore.  Our economy changed a couple of years ago (if you didn’t notice), and I don’t believe we are going to be what we were before the downturn.  Though our economy has shown some signs of a rebound, I believe they are subsidized signs by our government pumping money into people buying new homes and hiring new workers.  It’s not real yet.  And I believe it’s going to take some time to truly rebound.  So I definitely would NOT invest in debt now and expect a good return within 5 years.  It’s not a safe bet.

2.  Pay off your debt.  If you have to grow slower, then do it to pay off your debt.  In 5 years you will be the wiser consumer if you make changes now to solidify your cash position.  And if there is going to be another downturn in the future (and there almost certainly will be) then you will be in a cash position to benefit from everyone else that is leveraged to the hilt.  I have some debt too and I have given the next 5 years to get this paid off to be more agile and stronger in the future.  I know that investment (i.e., paying off debt) is the best investment I can make now.

What do you think?  Leave it in the comments above.

Enhanced by Zemanta

See me?  I’m down there in this historic photo in the middle of the little g.

See, Google?  We love you.

We even made it on TechCrunch.

185.365 TWENTY TEN!
Image by ashley rose, via Flickr

A couple of years ago, my wife saw an awesome way to start out a new year: choose a “word,” instead of a resolution, to keep your focus on the year ahead.  We spend time thinking about what our focus should be for the year, and we pick an appropriate word.

My word for the year is “Focus.”  I really have trouble reigning in my thoughts on new innovation in our industry, and I want to typically try everything!  My wife, my business coach, my marketing Guild group and my staff constantly keep me in line.  But this year, I want to “focus” on building the foundational business offerings that we have and stop adding new things (this will probably make our staff very happy).  New things cost more money, and that is something I want to save a lot of this year.  Furthermore, I really want this “focus” to last for 4 or 5 years.  The next 4 or 5 years for our firm will probably be BIG, if I can keep my “focus” on our foundational offerings, improve our process on how we serve and move our firm into more national-level service (which is already happening).  Pretty exciting… if I can keep my “focus.”

If you had to choose, what would your word be for the year?

In an effort to keep my “focus,” I want to combine this “focus” post with an explanation of the four words found in the THRIVEal header above:

THINK.     RESPOND.     GROW.     THRIVE.

These four words in sequence describe the upward process we often see in successful businesses.  There are many processes that can be seen and documented in many aspects of life, but these four words are our attempt to explain a process we have noticed over time.  And in an effort to better organizer our blog, the writer who is helping create a summary of our 2009 blog posts (an exciting new book that is soon to be released!), suggested that we organize all posts according to our belief in the THINK, RESPOND, GROW, THRIVE process.  Each post will be tagged under one of these four categories.  Some are easy in my opinion, while I don’t believe many posts are that straight forward.  Some posts call you to action (RESPOND) while others simply provide valuable business information (THINK).  And I don’t anticipate many posts will be tagged under the THRIVE category.  We’ll see how the process goes throughout the year.  Any thoughts on this process?

Here is our attempt to segregate which post goes in which category…

THINK – All processes start with deep thought.  Sometimes that thought entails a little questioning of your industry, dispelling myths as to why you do what you do, or simply reading the latest thought on topics close to your business model.  Great things don’t happen without great thought.  For example, we challenge our clients to THINK with Monday Morning Messages.

RESPOND – A response is required after deep thought.  We don’t preach thinking without pushing the response.  And this doesn’t always go very well.  It can actually lead our firm and a potential new client NOT to do business together.  That’s okay.  Everyone is ultimately benefited from proper responses to solid teaching and consulting, even if it challenges them beyond their comfort zone.

GROW – This is the third part of the process, after deep thought and a proper response.  Growing is not really something our clients do, but rather experience after going through the first two stages in the THRIVEal process.  Growth happens.  Maybe that growth is in their family, their business, their church or their relationships.  Or maybe a business owner will close their business, and start a new business (which is a different kind of growth)… but only after they think through that process and respond to what they have learned.

THRIVE – Growth is movement, while Thriving is arriving.  You are getting there once growth begins to happen.  I can’t say it will always be easy to distinguish between growth and thriving, but there comes a time when a person, a process, a relationship, and a business matures.  This is thriving and it is gained through the process of thinking, responding to that thought and ultimately growing into maturation.  What an awesome thing to see happen.  That state is THRIVEal.

I hope that at the end of my 4 or 5 year focus on my business, that I can say we are thriving…  coming to a state of THRIVEal.

Thanks for reading,

Jason M. Blumer

Reblog this post [with Zemanta]

« Older entries