Change Your Mindset

My guest today is Jennie Scheel, CFO of Five Nines Technology Group and a previous attendee of my Financial Storytelling seminar.

After the seminar, she sent me an email with a nice compliment about the class and asked if I knew of any great summaries that I could share with her for taking accounting data and turning it into a powerful story… but at that time, and even still, I didn’t know of any.

Instead, I helped Jennie develop her story for the organization in exchange for using this exercise as a case study for my upcoming book, Taking the Number Out of Numbers: Explaining and Presenting Financial Information with Confidence and Clarity. The big problem with presenting accounting information to non-accountants is the language barrier – not everybody speaks the foreign language of Accounting.

But on top of that, most of Jennie’s co-workers speak a different foreign language: engineering. So she has to learn a second foreign language and translate that into accounting, then translate all of the relevant information into plain English for executives and clients.

So the big question: How do I communicate complex financial information to those who do not speak Accounting?

The information is often complex – accounting is difficult! – so our goal should be to make it as simple as possible. Your audience probably doesn’t need to know anything about accrual, debits, or credits. They just need to understand enough about the organization to make the best possible decisions for their business.

As John Medina, the author of Brain Rules, says: numbers are boring.

Luckily, there's always a story behind the numbers! And the more you can evoke emotion with that story, the more you can keep people awake and attentive, the more impact your presentation will have.

After my class, Jennie was able to take a presentation about the balance sheet for her organization and tell a story using a dollar bill to help them understand what the costs were and how the organization became profitable.

It might seem like an extremely simplified way to present a balance sheet – and to a degree, it is – but it was a huge success.

Jennie received a compliment from one of the employees in the room after that presentation: “She said usually when you used to get up in the meetings, you would smile and act like you were happy about the numbers. So I thought they must be great. I had no idea what you were saying, but then you were smiling so I thought great… But she said this time, when you put the dollar up there, I actually understood what you were talking about – I could understand the business.”

You see, when you take the NUMB out of numbers, it leaves you with ERS: effective, relatable stories, which leads to confidence and clarity.

So I challenge you to look at your financial presentation and ask yourself: Is it time for a change? If so, give me a call or send me an email: petermargaritis.com/contact.

Resources:

Learn more about Jennie & Five Nines: gonines.com/project/jennie-scheel-cfo/ 

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 Change Your Mindset is produced by Podcast Masters

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My guests today are Rich Stang and Brad Hoffman, who are partners in the Maryland accounting firm DeLeon & Stang – and it is not your average firm. I have included a case study on DeLeon & Stang in my upcoming book, Taking the Numb out of Numbers, and I brought Rich and Brad on the podcast so they can talk more about their fascinating firm.

DeLeon & Stang is very much an anticipatory organization. They have created an exceptionally positive culture and go beyond traditional services by providing clients with a future-forward look at the financial situation. In this episode, we’ll examine how their future-forward approach applies to creating a mission statement, deciding to open a new location, rolling out new benefits in 2018, and more.

Why is DeLeon & Stang different?

When Brad and Allen DeLeon started the firm, neither of them had worked in public accounting. So as they started the firm, they didn't quite know how a CPA firm typically ran. “In some respects, that maybe hurt us a little bit. But in a lot of respects, I think it helped in that we didn't have some of the idiosyncrasies that you hear about in traditional CPA firms.”

So they put employees first, they said yes before no, and they had fun – because they didn’t know any better.

Just recently, this has led to two key decisions that a lot of CPA firms would not make:They opened a new firm in Frederick, MD, without an existing book of business or acquiring a new firm. Frederick is definitely a good market to be in, it’s a growing market, but that wasn’t the main reason they opened the office: it was a huge commuting benefit for employees! Traffic in the D.C. area can be bad, to put it mildly, and this office can save some people hours in their daily commute. On top of that, it’s the kind of modern office that you probably don’t associate with CPAs, and it’s likely to appeal to a younger generation.DeLeon & Stang recently introduced an unlimited PTO policy. It’s still a work in progress, they knew it wasn’t going to be perfect. “We still have strides to make, but we thought it was the best thing to do. We just want people to do their jobs… It doesn't really matter when they go home, as long as the clients are happy and as long as things are getting done.”

I think DeLeon & Stang is one of the most interesting firms in the country – and hopefully, we’ll see a lot more firms that look like this in the future.

Resources:

Learn more at deleonandstang.comConnect with Rich on LinkedInConnect with Brad on  LinkedIn 

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 Change Your Mindset is produced by Podcast Masters

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My guest today is Dr. John Molidor, a Professor of Psychiatry and Community Assistant Dean at Michigan State University College of Human Medicine as well as a past president of the National Speakers Association Board of Directors. John shares his extensive knowledge about how to prepare a presentation that takes your audience's brain into consideration and provides a richer learning experience, or a “brain-friendly” presentation.

John came to the NSA Ohio chapter in February 2017 and delivered a presentation on this topic and it was absolutely life changing for me – this knowledge has been the biggest game changer in my professional speaking career.

John emphasizes that the job of any speaker is sharing what you know, creating a safe environment to learn, and inviting your audience into that safe environment, and we need to understand how the brain works, consumes information, and processes it to achieve those goals.

What Presenters Should Know About the Brain & Learning:Your cells will eavesdrop on what you're sending your brain. So if you're sending your brain negative information or positive information, your cells tend to pay attention to that, which then can cause a chemical reaction resulting in a cascade of chemicals, either for good or for bad. So try to keep pessimistic thoughts out of your head!

Dr. Molidor says we don't refer to people as left or right brain anymore. Brains are hemisphere. They have both right hemisphere and left hemisphere. There are also a lot of redundancies, meaning when one side is working the other side is also active. So if you’re speaking to just one side of the brain, “you’re wasting opportunities.” Talk to both hemispheres: Tell the story, show the emotion, give the data, give the numbers. Contextual cueing teaches the audience to associate a symbol with an action. Everything from your header size to image choice to font color creates a contextual cue, and you should make sure those cues are consistent and conducive for learning. When you do that, the brain can focus on what the presenter is saying because you have cued it to do so The brain loves stories. “The oral tradition has been part of how the brain structure, if you will, has evolved over time.” Not only that, but different parts of the story are stored in different parts of the brain. So to access that information, you’re actually going to access different parts of the brain, and in doing that, the brain actually is more activated. And when we active more of the brain, we have a higher probability of things being remembered. Give your audience “commercial breaks.” If you’re putting out a lot of info, you have to give the brain a break so they can process it. We’ve also taught a generation of learners that they will receive these breaks, through the way both schools and entertainment like television are structured. Brains love oxygen, so you need to get the audience moving or inhaling oxygen occasionally. Asking them to stand up and do jumping jacks may not make sense, but even just getting the audience to yell or shout forces them to inhale more oxygen. The brain looks for patterns… and it looks for patterns even when they don’t really exist, so you have to be wary of that. Similar to contextual cueing, you should consider how the patterns in your presentation can help the audience actually figure out what you’re presenting to them.

Resources:

Connect with Dr. Molidor on  LinkedIn

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Collaboration is a buzzword in business today. Everyone talks about it. But how do you do it?

 Well, today’s guest, Eddie Turner, thinks he has the secret sauce to collaboration: “It should be facilitated – facilitated collaboration is what accelerates performance and drives impact.”

Eddie is known as “the leadership accelerator” because he works with leaders to accelerate performance and drive impact. He is a C-Suite network adviser, international certified coach, certified trainer, and professional speaker.

Staying Ready (So You Don’t Have to Get Ready)

As professionals, we need to ask ourselves, when is the last time our industry innovated?

That question needs to be asked because if we aren't ready, we have to get ready – only then can we stay ready – because the change is coming!

Look at the taxicab market (Uber), the hotel market (Airbnb), and now even grocery stores (Amazon & Whole Foods). Disruption is happening and the old guard can’t keep up.

Are we next?

Because Watson is already here. Watson is working, right now, with the big four and the audit practice. We saw the H+R Block commercials last year – Watson IS the machine learning that is going to disrupt our industry.

Things have changed, and accountants and finance professionals don't have to crunch the numbers – we have to communicate information to the end user, listen to what they are saying, and learn to have a dialog again.

We have to be continuous learners and continue to develop ourselves. Because if we're not continuing to educate ourselves, we're leaving ourselves vulnerable to the disruption that technology will introduce.

And the easiest way for us to learn is through facilitated collaboration, particularly with facilitators as talented as Eddie.

“What speakers are finding is no longer do audiences show up to listen to the sage on the stage. They show up to have a conversation, to have a dialogue, even with a keynote speaker.”

Resources:

Learn more at eddieturnerllc.comConnect with Eddie: LinkedIn | Facebook | TwitterCheck out Adobe Connect --

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Today I sit down with four incredible guests – Michelle Sopp, Jennifer Oleksa, Chris Fleck, and Bret Johnson – to discuss our major takeaways from the 2018 National CPE Educators conference held earlier this year. 

If you are in the learning and development business, in any industry, pay close attention because all industries and professions need to adapt and change in response to new technologies and changing behavior. 

The conference objectives were:

 Creating a fun and dynamic learning environmentTrying to avoid fluffOffering strategic sessions that spur creativityCreating sessions that challenge attendees to think differentlyCreating multiple learning opportunities that foster collaboration, not only with other educators but also with our vendors More about our guests:

 Michelle Sopp is the Vice President of Learning for the Oklahoma Society of CPAs and the chair for the 2018 National CPE Educators Conference. One of her biggest takeaways from the conference is that today’s learners just learn differently, so the learning experience needs to be more engaging and broken up into smaller increments.

Jennifer Oleska is the Director of Education and Training for the Georgia Society of CPAs. One of her biggest takeaways is that associations need to create a better content ramp for bringing in new members, so that we can create a valuable and even beautiful friendship between the members and the organization. “Give them what they need and then they want to be invested and involved with us in the future because they know we're invested and involved in them as well.” Chris Fleck is Senior Manager of State Society Learning at the AICPA. Chris and Bret were both part of the “FOOD Group” pre-conference meeting, which means “For Our Own Development.” His biggest takeaway is that we’re currently in the process of re-skilling the profession, with associations like the AICPA on the forefront in figuring out what skills professionals need going forward.

Bret Johnson is Director of Channel Management and Development for the AICPA. One of his biggest takeaways is that the AICPA and state associations need to embrace more collaboration so that we can stop re-doing work that other organizations have already done. In this way, we can innovate more effectively, together.

Resources:

Michelle: LinkedIn | TwitterJennifer:  LinkedInChris: LinkedIn | TwitterBret: LinkedIn--

 Change Your Mindset is produced by Podcast Masters

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This is an exciting time to be in the accounting profession – we are at a turning point, and the profession is recognizing that just counting beans is not going to get us into the next century (or even the next decade). We need to change our role and relationships with our clients, and we need to be proactive about investing in developing technologies that will allow us to do so.

That’s why I sat down to talk with Amy Vetter, a key influencer in the accounting industry and an accomplished tech executive, entrepreneur, and keynote speaker. Amy is the author of Integrative Advisory Services: Expanding Your Accounting Services Beyond the Cloud, the CPA and accounting professions' guide to the future of delivering advisory services to their clients.

I've been dying to interview Amy since I saw her speak at the 2018 National CPE Educators Conference in New Orleans. She was the kick-off keynote speaker of this conference, and let me just sum her presentation up: She knocked us over!

Amy just understands what the profession needs going forward, and on top of that, she has a knack for explaining what the profession needs going forward – and that’s why her book is so valuable.

Integrative Advisory Services is a toolbox that any firm can pick up (and should) if they want to begin thinking differently.

It’s an effective (and surprisingly interesting) accounting book because there are a lot of stories; real life experiences that relate to how we can help clients, the challenges that the profession is facing with technology, and what we can do about it.

One of the key ideas in the book is that we need to evolve our relationship with our clients. We need to become CHERISHED Business Advisors – not trusted.

We've been talking about being the ‘trusted business advisor’ in the profession for a long time, but if you look up the definition of trusted, it means you’re being honest and sincere.

“And to me that doesn't describe that relationship because that's what we should be. We take ethics courses. We have a CPA exam and say we're going to be ethical… I don't feel like that's something that you should be striving for. You just should be that.”

What you want to strive for is being cherished – when clients can't imagine not having you as part of their business because you are providing so much value. Money isn’t an issue because you're an integral part of their business.

“As an advisor, you’re helping to save businesses. You're helping them stay in business. You're helping their families, their employees’ families. It's the most rewarding job as an accountant, I believe, when you can get in that role.”

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Resources:

• Learn more at AmyVetter.com
• Connect with Amy: Twitter | Facebook | LinkedIn | Instagram
• Integrative Advisory Services: Expanding Your Accounting Services Beyond the Cloud

• Business, Balance, and Bliss: How the B3 Method Can Transform Your Career and Life

• Watch Amy’s TEDxTalk: "Disconnect to Connect: The path to work-life harmony"

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Change Your Mindset is produced by Podcast Masters

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Today I’m celebrating my 100th episode (because I technically started this show with episode 0) – and I have a special announcement for all of you.

First, I’d like to thank all of the guests who have given their time and shared their knowledge with my audience – without you, we never would have reached this milestone. I’d also like to thank my audience, especially those of you who listen every week. I hope you’ve been able to gather some nuggets of wisdom and applied them in your everyday life!

Now for my special announcement: I’m re-branding the podcast and changing its name to “Change Your Mindset | with Peter Margaritis, CPA, CGMA, AKA The Accidental Accountant.” I will also be changing from a weekly schedule to a bi-weekly schedule for a period of time.

Note: If you are already subscribed to the podcast, you do not have to change anything. The title of the show will simply be updated in your podcast app of choice.

Why the change? I want to serve the accounting profession better than I have over the last 100 episodes.

I firmly believe that, in the next five to 10 years, the accounting profession will move from a compliance role to more of an advisory role – we have to quit thinking about the way it used to be and listen to the younger generation on where they feel it’s going to go.

The essential skills CPAs will need by the year 2025 are communication skills; leadership skills; critical thinking & problem solving skills; anticipating & serving evolving needs; and synthesizing intelligence through insight, integration, and collaboration: otherwise known as interpersonal skills, people skills, or soft skills.

Building strong communication skills does begin with embracing the principles of improvisation – or, more accurately: Building strong communication skills begins with embracing the APPLIED principles of improvisation.

And applied improvisation is not about making jokes, becoming a comedian, or just being silly, which is what a lot of people think when they hear the term improv. Instead, applied improvisation takes these techniques and applies them to business, relationships, and life.

The style, dialogue, and conversation about applied improvisation will not change – that is the essence of the message in Changing Your Mindset because applied improvisation builds relationships, develops people, strengthens corporate cultures, and increases an organization’s bottom line – but with an increased focus on why (and how) we need to change our mindsets, if we want our businesses to survive the next 10 years.

And while our conversations will focus on the accounting profession, what we will talk about applies to every profession and the challenges we all face on a daily basis.

So even if you are not a CPA, this may be the platform that will allow you to move away from group think by hearing the thoughts and ideas of people who are different form you, but striving for the same result: happiness and prosperity.

Resources:

• Connect with Peter at PeterMargaritis.com

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Scott Palmer is the Executive Director of Adult Education at Butler Technology and Career Development Schools, and he joins me to discuss how the principles of improvisation have helped him create a collaborative environment with his team, his students, and the institution.

Scott has been in adult education for more than two decades, and he loves this work because he is able to help others realize lifelong goals, whether that be pursuing a degree, completing a certificate, or getting a job.

Scott has always utilized improvisation, subconsciously, but over the last couple years, he’s been making a point of using the principles of improvisation to consciously improve his communication.

Improv & Angry Customers

Scott gets ample opportunity to practice because, like many of us, he deals with angry customers on a regular basis. The practice seems to be paying off, because he’s learned a lot!

When a customer comes in angry, they usually just want to be heard. However, a natural reaction to an angry person is getting defensive – but that’s the worst thing you can do with an angry customer.

Scott’s goal is to disarm the angry person, without them knowing they’re being disarmed. He does this by listening, expressing empathy, and asking questions that give the other person an opportunity to be part of a solution (e.g. What would you like to see happen?). This conversation is about them, not you.

“Being grateful, the simple act of saying thank you and saying please, and showing respect through communication goes a very long way, especially when working with students and customers.”

You don’t have to like them to effectively communicate or improvise with someone – but you do have to respect them.

“People have forgotten how to communicate. The technology has allowed us to become lazy and insincere in the ways that we communicate, and I would suggest that we, as people, are suffering as a result.”

Resources:

• Check out Butler Technology and Career Development Schools at ButlerTech.org

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Improv Is No Joke is produced by Podcast Masters

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Kay Frances is a motivational humorist who has shared her message to “lighten up, stress less and take care of ourselves” for over 30 years. Kay is “America’s Funniest Stressbuster” – and she even wrote the book on stress, The Funny Thing about Stress; A Seriously Humorous Guide to a Happier Life!

When it comes to humor, Kay is the real deal. She performed as a professional stand up comedian for many years and appeared on a number of national television and radio programs. Plus, as you’ll hear in this episode, I was laughing throughout the entire interview!

But Kay isn’t just funny; she uses humor to put her examples in a context that is relatable to everyone in the audience. However, when she is discussing ways to reduce stress, she is very serious and to the point – and this ability to make you laugh, while remaining serious about the message, is what elevates her to the level of a great humorist (and stressbuster).

For the accountants out there, this is an especially stressful time of year – but Kay has some advice:

• Knowing how stressful this period of the year will be, it is even more important to let go of stress about things that don’t matter.
• Self-care is more important than ever. We all know that we operate better on a good night’s sleep than three hours of sleep. Eating a bag of Cheetos may sound better than a salad, but you will feel and function better after the salad.
• You have to make time for relaxing (without compromising your self-care). Even though it may not feel like you have time to wind down, making time for it will actually give you more energy throughout the rest of your day.
• Learn to say NO. You’ll have more time in the other 8 months of the year, but you have to protect your time during the busy season; you have to make yourself a priority.
• Be optimistic! The American Heart Association found that, all things being equal, people with an optimistic spirit have better heart health, a stronger immune system, and a decreased risk of stroke.

Resources:

• Learn more at kayfrances.com
• Connect with Kay: YouTube | LinkedIn | Twitter | Facebook
• Read: The Funny Thing about Stress; A Seriously Humorous Guide to a Happier Life!

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Bob Pacanovsky is what you might call a “Wow!” expert – with 20 years of entrepreneurial experience, primarily in the hospitality space, he has learned how create engagement, retention, and loyalty with customers, employees, and clients. Bob took that expertise and founded The Black Tie Experience, which helps companies and leaders create that Black Tie Experience for their customers and employees.

The black tie is much more than a uniform – it’s a mindset. You don’t actually have to have a black tie on to deliver a Black Tie Mindset, you just have to create an impression that LASTS:

• Look
• Act
• Speak
• Tact (or how you behave)
• Serve

We tend to rush to the service part because we want to create an unbelieve customer or employee experience, but “we have to know how to look the part and act the part before we can actually serve the part.”

One of the most important things to keep in mind – and this can be difficult – when working with other people, whether they’re your customers or employees, is that it’s not about you as a host or leader, it’s about them.

“If you have a mindset of making people feel differently about your product, your service, and themselves than they ever have before, then you’re really living the Black Tie Mindset.”

The 4 Principles to Create a Black Tie Experience:

1. A Culture of Welcome - Create a welcoming culture (not only for your employees, but also for your customers or guests). What is the culture, or the atmosphere, like in your company?

1. The Way of Doings Things - What is your company’s way of doings things? Disney, Apple, and Starbucks all have their own unique way of doings things, and it affects how you experience their brands. However, most companies aren’t spending enough time training their employees to wow people.

1. Impact Points - These are the subconscious impressions that people make about your business before, during, or after they purchase something. For example, what impression does your website make, or what does your restroom look like?

1. Put Yourself in your Customer’s Shoes - What does your customer see, hear, touch, or smell when they come into your business, or interact with you online?

You’ve probably heard me say in the past that we’re all in the people business, even if we’re accountants – Bob takes it a step farther, arguing that we’re all in the hospitality business… and it makes a lot of sense!

The definition of hospitality is, “The art of making that personal connection with someone,” and based on that definition, aren’t we all in the hospitality business, first and foremost?

So yes, we are in the people business, and we do need to focus on customer and employee experiences and retention, but we can’t excel at those things if we forget about the power of hospitality.

Resources:

• Learn more at bobpacanovsky.com
• Connect with Bob: Facebook | LinkedIn | Twitter

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