TheLeadershipNotebook

Leadership and Sailing

 

“Smooth seas do not make skillful sailors.”

-unknown

 

 

 

I just got back from The Winning is Everything Conference in Las Vegas. The conference focused on the most critical practice management issues facing CPA firms. Many of the presenters focused on challenges brought on by the current economy. Competition, fee pressure, technology, generational issues, and of course, firm leadership and management were the hot topics.  Rough waters abound.

 

In the 10 years leading up to 2008’s economic meltdown, the profession was the beneficiary of Sarbanes Oxley reforms, a booming economy and a solid position as a trusted advisor to many. Smooth seas and calm water.

 

As I listened to the presenters, I thought about the quote above, “Smooth seas do not make skillful sailors.” A true statement, indeed. As adults, our learning and growth comes from challenges and experience. We grow when we are tested and stretched.

 

How can we apply this perspective of possibility and learning to the current challenges facing the CPA profession?

 

 Firm leaders can take the quote one step further and ask themselves:

 

 

· How can I learn and develop new and more relevant leadership skills that will help navigate through these rough times?

 

· How can my firm do more with less?

 

· How can I infuse innovation into a practice that may need to move away from the inefficient processes of the past?

 

·     How can I improve my collaborative skills to seek and welcome input from those who make take a different perspective?

 

·     How can I re-invigorate my connections to clients?

 

 

Development generally begins with a realization of a current or future need and the motivation to do something about it. Studies show that the best time to develop new skills is under moderate to high pressure, not under less-stressful conditions. Well, that time is now.

 

The smooth seas are gone and the challenges have begun. Regardless of your profession or industry, leadership skills have never been more essential.

 

To your success,

 

Mary

Who Moved My Cheese?

 

Who Moved My Cheese is the title of a motivational book by Spencer Johnson written in the form of a business fable. The book is about change and its inevitability. Its message is to anticipate, monitor and adapt to change and embrace it with open arms.

Ironically, the book was published back in 1998, the year I left my role as a Partner at Plante & Moran. I moved my own cheese back then to pursue a more “balanced” life/career experience. That change sent me on a journey of learning; learning more about who I am, my vision for my ideal future and the skills that I wanted to further develop.

Fast forward to 2010. I am now fully engaged and loving my role as an executive coach and organization consultant. While I love my work, my day to day office experience, until now, has been somewhat of a solitary one. I’m writing this today from my new, spectacular office. Let me tell you how I got here.

For the last several years, my office was located in the suburbs and included a few lawyers, insurance agents and recruiters, each of us in our own world. I am a person who enjoys people and camaraderie, however, and the solo existence was not energizing for me. My office situation had to change.

As a coach and facilitator of positive change, I looked at my dilemma as if I were my client. The current situation was not ideal, I was motivated to make a change and I was willing to put the time and effort into creating a new experience for myself and my clients.

So what did I do? I followed a process that I utilize with many of my clients who are looking at making a change. My process was the following: 

· Clarify your purpose

· Create a vision

· Develop an action plan

· Act on it

Here’s how I applied it.

Purpose: I have always been consistent about my purpose. That would not change. Find a practice setting that would allow me to continue to provide the highest quality coaching and consulting experiences for my clients.

Vision: Next step was to create a vision for my ideal practice setting. What would it look like? Well, that was easy. I wanted to be around other professionals, ideally in a similar or related field. I envisioned conversations and connections. Of course the physical space would be comfortable, not necessarily palatial. It would be a space where I could meet with my clients either face to face or via telephone conference calls in an environment conducive to individual learning and growth. Clients would be warmly greeted by a friendly receptionist. I would have access to technology and training facilities for my group meetings and presentations. Oh and of course, the monthly expense would have to continue to be affordable.

Plan: My plan involved identifying organizations in the community that might fit the bill. Would a firm or company be interested in subletting space to an executive coach and allow me to be “embedded” in their office? I was not looking for a merger. I wanted to remain independent. The criteria envisioned above would be my outline.

Action: Being a professional in the same community for 30 years does have its advantages. I am fortunate to have wonderful connections and history with people who know me and my reputation. On my very first inquiry, I hit a home run. “Your timing is perfect, Mary. We just made a decision to move into new offices and there will be extra space for you.” The organization, Findley Davies, provides HR and benefits consulting (no executive coaching) with offices in three states. Great people, outstanding professionals and synergistic with the work I do. The office setting is fantastic although I will have to get used to being downtown again after 25 years in the suburbs. Oh, and the price is right.

My process worked. I moved in over the weekend. Packing up all my boxes and memories after spending many years in one spot was nostalgic. (I did save my relic red and blue “tick” pencil. I think it’s probably 20 years old but it holds fond memories for me.) But I’m excited for this change and the possibilities that it brings.

Who moved my cheese? I did and I’m excited for the next phase of my journey.

Please note my new address:

Mary C. Werner, CPA, MOD

Werner Coaching & Consulting, Inc.

One SeaGate, Suite 2050

Toledo, Ohio 43604

419-841-5614

To your success,

Mary

The One New Year’s Resolution You Can’t Ignore — APPLIED

 

Last week, Rick Telberg posted an excellent article on his blog, CPA Trendlines. In The One New Year’s Resolution You Can’t Ignore, Telberg encourages us to embrace change. Embrace the dynamic and rapid pace that is now the only constant in the CPA (or any) profession. He reminds us also that “it all starts with the client, the client’s needs, the client’s opportunities, the client’s business and financial issues.”

 

We know that change is hard. But what if I told you that the ROI for embracing change can be worth the effort? Embracing change has been a requirement for successful firms, not just in 2010, but over the last 20 years.

 

Imagine that your firm is a speed boat, not a barge. That’s the visual we used in my former firm. Our strategy and business plans were grounded in being aware of and embracing our client’s changes and then adapting to help them solve their business problems.

 

I can remember it like it was yesterday. I was having a networking breakfast with a leader at a local hospital system. This organization was not a client at the time but it was a relationship that I was focused on cultivating. Our breakfast was a casual one. You know, catch up and connect. And then everything changed.

 

I listened as the leader responded to my questions of current challenges and issues facing the hospital system. One significant challenge for them at the time involved the physician community and the hospital’s new proposed strategy of acquiring physician practices. Primary care, internal medicine, pediatricians and OB Gyns would be the starting point. At the time, this would be a radical move for the hospital and our local healthcare systems.

 

But how were they planning to implement the strategy? Who would they engage to consult with them on the intricacies of physician practice management? The hospital’s challenge involved understanding the quality of the practice not only from a financial standpoint but operationally and clinically as well.

 

As I listened to his challenge, my wheels were turning. We were a CPA firm, not clinical practice consultants. Our firm did have a physician practice management niche that was one of the service offerings that I led. But the niche only focused on the financial side of the physician practice. Our existing services included preparing monthly financial statements, tax returns and some hospital guarantee calculations. We did not delve into operational issues including coding, fee analysis and other clinical aspects of a physician practice. But, I thought, by hiring the right clinical consultant and embarking on a team approach, we could meet the hospital’s needs. After gathering more information on what they might be looking for, I left the breakfast, open to new possibilities for my firm.

 

It could have easily ended there. But because our firm’s culture was one of embracing change, I felt empowered to take the next step. I immediately met with our Managing Partner, outlined my ideas and proposal to expand our services and got the thumbs up. We pursued hiring an individual with the appropriate talent and clinical background to provide the necessary services. I gathered a team to meet the demands of the hospital. They were looking to move quickly on acquiring these practices to beat the competition.

 

It was a whirlwind for sure. We embraced change and adapted to the marketplace. After one year we generated new fees of a half a million dollars ($500,000). We were the firm of choice for the hospital and the niche we built generated at least that amount for the following five years. Needless to say, we had an outstanding ROI!

 

Change is hard. But it will keep coming at us. Remaining open to new possibilities and adapting is the key.

 

 

To your success,

 

Mary

 

 

Leadership During Change and Transition: Think Bud Light

 

Leading during times of change and transition is not for the faint of heart. Restructuring, downsizing and merger activity are the new normal in the CPA and legal professions. As a former CPA firm Partner, I experienced a firm merger in the late 1990s. Many aspects of our leadership during the merger were positive, but it was an emotional and jarring experience for all involved, nonetheless.

 

As a leader, cultivating and maintaining the trust of those you lead in the face of making difficult and impactful decisions for your firm is a challenge. Effective leaders must learn just the right balance between often contradictory behaviors. Just like you see in the Bud Light commercials, leader behaviors must be: Not Too Heavy, Not Too Light, Just Right.

 

The Center for Creative Leadership has identified twelve leader competencies that contribute to effective leadership in times of transition. Many of the competencies, identified below as related to structure or people, appear on the surface to contradict each other. But there is a dynamic tension that comes into play. All of these leadership competencies are important but any of them can also be exaggerated, neglected or in balance, i.e., Too Heavy, Too Light or Just Right. You’ll see what I mean as they are described below.

 

CCL Transition Leadership Competencies

 

Structure	People
Catalyzing change - the ability to champion an initiative or change; promotes the cause and encourages others to join	Coping with transition - the ability to recognize and address the personal and difficult emotional elements of change
Sense of urgency – the ability to take action and keep things rolling; values action and knows how to get things done	Realistic patience – the ability to know when and how to slow the pace down to allow time and space for people to cope and adapt
Being tough – the ability to make difficult decisions about issues and people	Being empathetic – the ability to take others’ perspective into account when making decisions and taking action
Optimism – the ability to see the positive potential of any challenge; communicates and conveys optimism and encourages others to feel the same	Realism and openness- the ability to candidly assess a situation and the prospects for the future
Self-reliance – the ability and willingness to take a lead role and to personally do the work when necessary;  confidence in your skills and abilities	Trusting others – the ability to be comfortable with allowing others to do their part of a task or project; open to input and support from colleagues
Capitalizing on strengths – knowing one’s strengths and the ability to confidently apply them to new situations and circumstances	Willingness to learn and try new things – the ability to tolerate discomfort of “not knowing” if it leads to learning

 

We all want a successful outcome to our transition decisions. In the end, a successful leadership result is to inspire trust in those you lead and ultimately gain buy in and commitment for moving forward. The good news is that these leadership skills can be strengthened or developed.

 

Ask yourself the following: Where do I stand in these leadership competencies? What skills and behaviors do I need to learn in order to lead my team, my department or my firm in the process of transition?

 

Change and transition are here to stay. Will your skills remain Too Heavy, Too Light or Just Right?

 

To your success,

 

Mary

 

 

 

Which wolf will you feed in 2010?

 

One evening an old Cherokee told his grandson about a battle that goes on inside people.

 

He said, “My son, the battle is between two wolves inside us all. One is Evil. It is anger, envy, jealousy, sorrow, regret, greed, arrogance, self-pity, guilt, resentment, inferiority, lies, false pride, superiority, and ego.”

 

“The other is Good. It is joy, peace, love, hope, serenity, humility, kindness, benevolence, empathy, generosity, truth, compassion, and faith.”

 

The grandson thought about it for a minute and then asked his grandfather, “Which wolf wins?”

 

The old Cherokee simply replied, “The one you feed.”  

 

Anonymous

 

 

  

This year, which wolf will you feed?

 

It’s tempting, I know, to focus on the negatives. It’s seems easier to focus on our weaknesses and “what’s wrong.” Today, I’m having that same battle myself. I’m writing this post from Florida, the site of our family holiday vacation. It’s a brisk 40° outside and the weather has been unseasonably cold since the day we arrived. Our vision of sitting on the beach in the warm Florida sunshine has all but evaporated. Yes, I have to admit, the weather has been a bit of a disappointment and at times my bright mood has dipped along with the temperature. But when I reflect and focus on the week I’ve spent enjoying my family, relaxing, reading, sleeping, walking, and of course, eating great meals and enjoying a fun New Years Eve celebration, the Good surfaces.

 

Developing leadership skills based on a strengths based model is like feeding the Good wolf.  As an executive coach, I have the opportunity to coach outstanding individuals and support corporate sponsors who believe in the capabilities of those they refer my way. Utilizing my Retained Learnings model, together we focus on leveraging individual and unique strengths in order to develop those leadership competencies required for their role. Focusing on strengths and “what’s right” allows my clients to gain confidence and momentum. Building this confidence enables them to face their leadership challenges and work to develop the new skills required to excel in their roles.

 

So what about you? Which wolf will you feed in 2010? There are scientifically validated tools and assessments available for measuring your character strengths. The Values In Action Signature Strengths (VIA-IS) is one such assessment. Know your signature strengths and use this knowledge as a foundation for building on your leadership skills. In the end, the choice is yours.

 

To your success,

 

Mary