The E-Myth Accountant Series – Change

CPA Blog |

The ninth topic in the book “The E-Myth Accountant: Why Most Accounting Practices Don’t Work And What To Do About It” by Michael Gerber and M. Darren Root, CPA is all about change.

Michael Gerber shares that to most people, change is a diabolical thing. Tell most people they’ve got to change, and their first instinct is to crawl directly into a hole. Nothing threatens their existence more than change. Nothing cements their resistance more than change. Nothing.

He explains he has talked to countless accountants whose hopes weren’t being realized through their practice; whose lives were consumed by work; who slaved increasingly longer hours for decreasing pay; whose dissatisfaction grew as their enjoyment shriveled; whose practice had become the worst job in the world; whose money was out of control; whose employees were a source of never-ending hassles, just like their clients, their bank, and, increasingly, even their family.

He shares that more and more, these accountants spent their time alone, dreading the unknown and anxious about the future. And even when they were with people, they didn’t know how to relax. Their mind was always on the job. They were distracted by work, by the thought of work. By the fear of falling behind.

In short, most accountants he’s met over the years would rather live with the frustrations they already have than risk enduring new frustrations 

Most small-business owners I’ve met see change as a thing in and of itself – as something that just happens to them. Most people experience change as a threat.. 

The growth of your accounting practice, then, is its change. Your role is to go with it, be with it, share the joy, embrace the opportunities, meet the challenges, learn the lessons.

Co-author M. Darren Root, CPA, shares accountants, inherently, are slow adopters, often waiting for others to test new technology or ideas first. To be an early adopter means to take a risk, and accountants naturally lean toward being cautious when faced with change.  .

He explains that running a successful firm requires advanced technology. He warns that accountants must view changes in technology as a positive thing, not as a curse.

Many accountants he speaks to are starting to realize that change is part of running their businesses. He shares that the challenge for most is not so much realizing they need to change and adapt, but rather developing an understanding of how to change. 

So many firm leaders simply don’t know where to start.

His advice – accountants can no longer rely on a ‘‘same as last year’’ mentality. Change will continue to come, and you have to be ready. Accepting that change is rapid and perpetual is the first big step in becoming a Next Generation Accounting Firm.

Source – “The E-Myth Accountant”