With such a focus on survival in many accounting firms in the current economy, it seems the spotlight has been momentarily taken off of talent training and knowledge transfer. These areas were a major focus while firms struggled with adequate staffing and grappled with best recruiting practices.

As the economy deals us a difficult hand, I would venture to say that many professionals are learning new lessons as the days pass. A large number of executives are experiencing an economy like this for the first time in their careers. While this experience is forcing management to take a hard look at expenses, strategy and operations for now, how do we ensure that these experiences are retained in our memories and also passed on to others that may not be experiencing these events currently?

Think of the benefit of being able to bottle up the wisdom gained from this experience and then share it with others throughout the organization when there isn’t a recession in sight. (more…)

I disagree with Marcus Buckingham, the co-author of Now, Discover Your Strengths, who asserts that the way to find success is to focus on your strengths. Even Buckingham belied this advice in his own life. When he was young, he had a serious speech impediment. He worked hard at overcoming this serious weakness and has turned this weakness into a great strength, as he is a very effective public speaker. I believe the “focus on your strengths” model will actually limit your climb up the leadership ladder.

Let me explain why. Most businesspeople think that they’re as good as their greatest strengths. For example, an audit manager may believe that her financial and analytic capabilities will enable her to one day become an audit partner. The truth is, however, that you are only as good as your biggest weakness. (more…)

I once asked a published author “What kind of writing makes the most money?”  She responded, “Ransom notes!”

Fortunately, I already know what kind of writing makes the most money for accountants.  It is articles for magazines, newsletters and periodicals that their target market reads.  As a professional, consider what you read so that you are better informed.  More importantly, why do you read these publications?  Is the material interesting?  Do you trust the content?  Do you incorporate the key points into your professional conversations, or even your decisions?

Interestingly, your target market and individual prospects get their information in a similar fashion  for  similar reasons.  (more…)