CPA Practice Advisor - 19

THE MILLENNIAL ADVISOR

In Search of a
GARRETT WAGNER, CPA

CEO/Founder, C3 Evolution Group
garrett.wagner@cpapracticeadvisor.com

NEW NORMAL
WHILE IT IS hard to get a consensus on just about anything today with all that
is going on, we can agree that everything changed with COVID-19.

In the blink of an eye, the lives
of nearly every human being worldwide were disrupted at a speed and
scale never before seen in the history
of civilization.
As for our profession, you have
no doubt read, heard and seen how
disruption was coming. Your reactions
may have ranged from a mild shrug to
rabid agreement. But opinions varied
on when disruption would arrive and
truly impact our profession in ways
that are meaningful and sustaining.
As I sit down to write this article,
there is no doubt that we are getting
a taste of disruption.
Now that accounting firms and
finance departments of all shapes and
sizes have been truly disrupted, it may
be fitting to explore a path through this
new uncharted territory.
We are working remotely, using
video conferencing and online collaboration, relying upon electronic
signatures and e-payments. We are
operating nearly 100 percent virtually.
At least for the time being, very few of
us can wander down the hallway, print
a balance sheet, see a change needed,
then reprint it, and grab a new copy
off the printer.
The workflow has changed. Our
pace has changed. Everything about it
feels different. The process, its energy,
when and where we place our implied
trust, and the steps to get things done.
We must embrace the future
because it is sitting on our chest, we
have no alternative. We can no longer

hold onto the past ways of doing things
and have no option but to say goodbye
to our dear old friend, "SALY."

OUT OF THE BLUE
Disruption came like a meteor, in an
instant, seemingly without warning.
Were you able to keep working?
Were you ready for the shift to a
completely remote workforce? Were
your customers able to collaborate in
a seamless way?
Or did things come to a sudden
halt? Was it bumpy? Were there lapses
and dropped balls?
Whatever the initial experiences,
the key now is how you will respond
and carry forward. What is the path
for your team and your organization?
The job now is to manage the
disruption and evolve into a whole new
level. The keys to finding success are
to shift your mindset and embrace this
change. It requires you to experiment
with what works, while remembering
that you need to keep breathing, to
maintain a tempo that makes sense.

EMBRACE THE NEW
NORMAL
Take this as a once in a lifetime opportunity to embrace the disruption as an
opportunity. Push your organization
forward. Adapt and innovate.
After all, innovation is now a
necessity. Think back to just three
months ago. We could have a lengthy
debate amongst accounting firm leaders on the uses and needs for portals

to conduct tax return deliveries.
But overnight, the ability for many
of us to deliver a return in person
evaporated. Electronic delivery is
now the only option.
What other changes have you been
putting off that you may now embrace?
So, instead of looking at recent events
as a negative, view them-best as possible-as a form of blessings. You can
innovate to bring your organization
into the future.
Embrace this as the opportunity
it is. Use this time of disruption to
forge a new path and jumpstart your
organize, customers and even your
peers. Embrace the new, knowing
that not everything works perfectly
the first time. Iteration is part of the
road to perfection.

EXPERIMENT
The second thing to embrace is an
experimental mindset. We have all
been pushed into disruptive change,
and most of us did not have a clear
path forward for each new process.
Just because you deployed option
A on Day 1, don't get locked into that
process. As you drive a path forward,
keep pushing to find a best practice.
Continue to, evaluate each process. If
it does not serve you or your stakeholders, if it is not optimal, why settle?
One of the hidden blessings is
that you will find your customers
and peers are much more accepting
given what is going on around us. You
have a "get out of jail free card" to

MAY 2020 ■

change how you operate. Leverage
this opportunity to land upon the
right solution for the future.

BREATHE
Most importantly, as our days often
feel chaotic and out of control, we
must remember to care for ourselves.
Someone reminded me recently, it is
just like being on an airplane. In the
event of an emergency, your put the
mask on your face first.
Once a day, take five minutes
for yourself and just breath. Find a
moment and seek some tranquility,
ground yourself, and recharge for the
day ahead. If you have never tried
meditation, make that a goal. You can't
be yourself if you are overly stressed
and fatigued.
As we look around and seek a path
forward in these disruptive times,
rather than focusing on the negative,
embrace change as an opportunity to
move beyond your old ways. Embrace
an innovative mindset and a new
way forward each day. Seek out new
solutions to running the accounting
practices and processes you have
always performed. Experiment with
different options, so that you can find
a new normal.
Above all, let's not forget to take
time every day for ourselves. To keep
pushing forward, to keep helping one
another, we need to put the air mask on
our own faces first. Only then, can we
be in shape to help out our neighbor. ■

www.CPAPracticeAdvisor.com

19


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CPA Practice Advisor

Table of Contents for the Digital Edition of CPA Practice Advisor

From the Editor: Staying in Touch
From the Trenches: Do You Have a Clear Practice Management Vision?
Covid-19: Adaptability is Key to Business Continuity
2020 Product Review: Practice Management Programs
The Leadership Advisor: How to Lead During a Crisis
Apps We Love: Apps to Survive the Pandemic
The ProAdvisor Spotlight: Now Available in QuickBooks Online Accountant: Month-End Review and Industry Benchmarks
2020 Product Review: Inventory Management Systems
Marketing Your Firm: How to Leverage Chatbots in Your Firms's Marketing
The Millennial Advisor: In Search of a New Normal
A Year in the Life of a Payroll Accountant: Avoiding Employee Recall Issues After Coronavirus Recedes
A Year in the Life of a Payroll Acocuntant: Workers Earning Less than $75K are Being Laid Off Most
The Staffing & HR Advisor: How Financial Transparency Can Level Up Business for Private Companies
AICPA News: A round up of recent association news and events
Bridging the Gap: 3 Tips for Developing New Consultants
CPA Practice Advisor - 1
CPA Practice Advisor - 2
CPA Practice Advisor - 3
CPA Practice Advisor - From the Editor: Staying in Touch
CPA Practice Advisor - From the Trenches: Do You Have a Clear Practice Management Vision?
CPA Practice Advisor - Covid-19: Adaptability is Key to Business Continuity
CPA Practice Advisor - 7
CPA Practice Advisor - 2020 Product Review: Practice Management Programs
CPA Practice Advisor - 9
CPA Practice Advisor - 10
CPA Practice Advisor - The Leadership Advisor: How to Lead During a Crisis
CPA Practice Advisor - Apps We Love: Apps to Survive the Pandemic
CPA Practice Advisor - The ProAdvisor Spotlight: Now Available in QuickBooks Online Accountant: Month-End Review and Industry Benchmarks
CPA Practice Advisor - 2020 Product Review: Inventory Management Systems
CPA Practice Advisor - 15
CPA Practice Advisor - 16
CPA Practice Advisor - 17
CPA Practice Advisor - Marketing Your Firm: How to Leverage Chatbots in Your Firms's Marketing
CPA Practice Advisor - The Millennial Advisor: In Search of a New Normal
CPA Practice Advisor - A Year in the Life of a Payroll Accountant: Avoiding Employee Recall Issues After Coronavirus Recedes
CPA Practice Advisor - A Year in the Life of a Payroll Acocuntant: Workers Earning Less than $75K are Being Laid Off Most
CPA Practice Advisor - The Staffing & HR Advisor: How Financial Transparency Can Level Up Business for Private Companies
CPA Practice Advisor - AICPA News: A round up of recent association news and events
CPA Practice Advisor - Bridging the Gap: 3 Tips for Developing New Consultants
CPA Practice Advisor - 25
CPA Practice Advisor - 26
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