Welcome

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NABA Symposium

Lowell Wightman, M.Ed., PhD

360 Mindset

September 25, 2014

High Margin Activity for CPA’s

Take Away

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Methods for Renewal & Recovery Brand and Identity Management Social Media Strategies Collaboration Insights Profitable Behavior Strategies

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Why Are You Here?

My Firm Sent Me I Desire More Insight and KnowledgeNetworking I want Tangible and Intangible Skill

Development I Desire to be a Leader in my Field I needed a break

Obstacles to Consider1. Low self-efficacy for the perceived skills necessary

for accounting may cause African-American students to

avoid accounting as a career.

2. Differences in the extent to which work values match

perceived outcomes may lead African-American

students to choose careers other than accounting.

3. Cultural differences in social values may lead

African-American students to

choose careers other than accounting.

4. Perceptions of discrimination may lead African-

American students to choose careers other than

accounting.

5. Lack of access to information about accounting may

lead African-Americans to be less likely to choose

accounting as a career. *

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George Washington Carver

Research in Higher Education Journal, 2011*

Your Motivation

• Acceptance, the desire to avoid failure and criticism.• Curiosity, the desire for understanding.• Eating, the desire for food.• Expedience, the desire to act out of self-interest.• Family, the desire to raise children and to spend time with

siblings.• Idealism, the desire for social justice.• Interdependence, the desire to trust others to meet one's

needs. • Order, the desire to be organized and clean.• Physical Activity, the desire for muscle exercise.• Power, the desire for influence or leadership.• Beauty, the desire for romance and sex. • Saving, the desire to collect.• Social Contact, the desire for peer companionship. • Status, the desire for respect based on social standing.• Tranquility, the desire to be free of anxiety and pain.• Vengeance, the desire to confront those who offend.

Everyone Embraces all 16 desires

The degree of desire defines you

How you prioritize your desire reveals your motivation

Mind/Body connection is enriched with greater personal clarity.

What Drives You*

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Reiss, 2013 *

Your Brand & Your Identity

PA Past

• Dress Code• Billable Hour Budgets• Assumed High Integrity• Tax or Audit • Industry Focus• Work for a Big 8 Firm• Work first Family Second

PA Future

• Dress to Fit the Situation• Be Profitable• Earn Trust & Integrity• Build Lasting Client Relationships • Discover your Skill & Business Niche• Find the Best Fit• Seek Quality of Life

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Social Media

Current Conditions

• Verbal vs. Social Media• Little Human Contact- How

much of your business is face to face?

• Regardless of the communication form listening is critical (65% of our messages are decoded by means other than our words)

• Why choose one method over another?

• Select most effective form for given circumstances

• Remove barriers to effective communication

Post It Note

Voicemail

Email

Texting

Facebook, My Space, etc.

Twitter

Snapchat

Vibe

Google Plus

Foursquare

Swarm

Linkedin

Web Site- w/ E-Commerce and w/o

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Method, Strategy, DELIVERY

• Make a choice- Web site, Twitter, Phone, Email, Verbal Face to Face, etc.

• All methods connect- Web site links, twitter, Facebook, and texts.

• Always bring communication to closureo Stay positiveo Listen with the intent to understand- Empathico Ask for understanding often

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Collaboration with Purpose

Activity

Teach a CPE class

Ask others for help and support

Ask to be included and invite others to client visits

Write technical articles with co-workers

Volunteer for Community Service Projects

Purpose

Understand the needs of your colleagues and promote collaboration

Positive Humility builds trust and integrity

This is a behavior that tests trust and can galvanize colleague and client relationships

Publish the article and learn new concepts through the process

Sincerely put yourself in a position to help and improve the conditions of others.

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Profitable Behavior

Billable Revenue

Behavior that generates revenue

1. Engagement Documentation (Tax Returns, Financial Stmt, etc.)

2. Engagement Research 3. Client Meetings – with purpose and

mindful of need4. Engagement Document Processing

and Filing- Quality Process creates Quality work product.

Invested Expense

Behavior that enhances billable potential

1. Nutrition2. Physical Activity3. Meditation4. Sleep 5. CPE study6. Networking

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Bottom Line!

Revenue – Cost =

Billable Hours are primary focus but cost of business is declining!?

Focus on Personal Development is key to Revenue generation and managing cost

Positive Collaboration is essential for client and practice retention

Gross/Net Profit

CPA Net Profit Nationally is appx. 21% *

Cost of Sales 7%* CPA firms average 60 hour work

weeks. 43 hr./wk. are available to train,

prepare, present, renew and recharge.

* Forbes, 03-29-2013

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Summary

Community

Collaboration

ChallengeEffort

Have FUN

Renew & Refresh

Recognition

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ReferencesAchers, Shawn (2010), The Happiness Advantage, Random House, New York, NY

Bennis, Warren (1989), Why Leaders Can’t Lead, The Unconscious Conspiracy Continues, Jossey-Bass, Los Angeles, CA

Johnson, Craig (2012), Meeting the Ethical Challenges of Leadership- Casting Light or Shadow, Sage Publishing, Thousand Oaks, CA

Northouse, Peter G. (2010), Leadership Theory and Practice, Fifth Edition, Sage Publishing, Thousand Oaks, CA

Reiss, Steven (2013), The Reiss Motivation Profile, IDS Publishing, Worthington, OH

Barriers to Accounting as a Career Choice for African-American Students, Research in Higher Education Journal