As I consider the foundational components or requirements to scale a firm, one thing I would list is ‘Owner Health Activities.’ The more my partner and I grow our firm, the more important this becomes. I’m not only talking about working out at the gym, though physical health is a component. There is more to health than the physical aspect. Taking care of your mind can be a huge benefit as you grow your firm. The ability to think fast, think differently, think with others in the way they think, or think more deeply can make you a bullet-proof firm owner. And the emotional balance firm owners need during busy times, stressful times, and during elations is part of managing and maintaining health. Read more
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There’s nothing firm owners enjoy less than an awkward, difficult, honest conversation with a team member. Yet have them you must. There are times when one of your employees isn’t performing well, is behaving poorly, or is simply tap dancing on your last nerve. Usually, the team member provides no help in initiating these conversations, because he seems to be blissfully unaware that anything is amiss. You’re totally on your own. What should you do? Read more
Get ready to have your busy season ruined.
“Research that attempts to quantify the relationship between hours worked and productivity found that employee output falls sharply after a 50-hour work-week, and falls off a cliff after 55 hours—so much so that someone who puts in 70 hours produces nothing more with those extra 15 hours, according to a study published last year by John Pencavel of Stanford University.”
After reading that, the feeling you’re experiencing is called the Semmelweis reflex. It’s the involuntary, reflexive tendency to reject new information because it screws up the way you do stuff. And now you’re probably thinking that you’re not prone to the Semmelweis reflex; that’s called bias blind spot, where you’re like, “Yeah, I totally get it that other people are prone to Semmelweis reflex, but I’m pretty sure it doesn’t affect me. I’m a CPA.” Read more
Coaching continues to gain traction as a tool for personal and professional development. In a recent survey, 87% of leaders rated their work with a coach as mostly or very effective. Ninety-five percent of them said they would hire a coach again.
Coaching is a great resource to launch and/or grow a CPA practice. Many practitioners use coaching to develop vital business-building competencies like marketing, communication skills, staff development, and process improvement. But the more profound value of coaching comes from the lasting change it helps create. Read more
While facilitating a Thriveal Community Group call a couple of weeks ago, I listened to participants discuss how they were feeling about owning their firms, and I noticed a common thread. So I addressed the elephant in the video chat room: “How many of you absolutely have puckered butts right now?” Every single participant raised his hand.
Everyone’s butt was puckered, because everyone felt stress. You know what I mean: it’s that gut-wrenching, butt-clenching feeling that comes with firm ownership. It happens whether you’re on your own or whether you’re
leading a team. And no over-the- counter medication can make it go away.
This could make your butt pucker even more, unless you think it through a
bit. Read more
I was a middle school math teacher for eight long years. I finally quit teaching because I wanted to find a career where I could actually make a difference in the lives of others. That, plus I couldn’t stand those bastards.
As a teacher I worked with some amazing people. One of my fellow teachers taught a speech and drama class. One of the projects she assigned her students was to film a music video. Very cool. One group of students wanted to film their video on the roof of the school. Also very cool. She let them do it. Very cool? And she let them do it unsupervised. WTF? Read more