HomeNewsBlogAccountingWhat will today's young CPA's need to focus on to thrive in the accounting industry?

What will today's young CPA's need to focus on to thrive in the accounting industry?

Written by Chris Allegretti Wednesday, 01 June 2011 11:27

Business MeetingEvery partner at every firm spends vast resources developing today's accountants into tomorrow's industry champions. In this blog, I will summarize the wisdom that has been shared with me over the past 26 years and add in a few items to which, if you truly apply yourself, will allow you to thrive in today's and tomorrow’s environment.

Understand that to reach the partner level, you must invest in your career and think like an entrepreneur. That's right...you must invest your time and effort even during busy times. You'll need to get involved in your communities, develop relationships with thought leaders and referral sources. You must learn to take risks that may eventually return rewards, but nothing is guaranteed. Your efforts will not bear fruit immediately, so you need to begin these efforts early in your career to allow time for them to pay off. I’ve always been a believer in the old adage "The luckiest people I know are also the hardest working."

Always seek to add value to your firm and to your clients. Take up a firm initiative, develop an expertise or niche and seek out additional training. Think strategically, not tactically, and ask questions that help you understand the big picture. By becoming a trusted advisor, you elevate yourself from an order taker to a true business partner that creates and adds value.

Seek out multiple mentors and work to acquire their strongest qualities. Be pro-active in these relationships and ask the hard questions. If you don’t get the quick and easy answers you are looking for, you’ve chosen the right mentors. Remember that the mentors within your firm want and need you to be successful, so consider them your ally, not your enemy. As a Managing Partner I still maintain several mentor relationships and continue to find them invaluable.

Last and most importantly, remember to focus on your work / life balance. The effort you’ll be required to put forth is tremendous, but so are the rewards. Sharing that success with friends and family should truly be your ultimate goal. Do not lose sight of this goal as you climb the ladder of success. At Hill, Barth and King, this concept is the "E" in our "HbK Promise", a promise we make to each other and to our clients.

 

Enjoy our career and our life’s journey.

Chris Allegretti

Chris Allegretti

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