The Anticipatory CPAHow to Get Ahead and Stay Ahead and shift from Reactive to Proactive

By: Tom Hood, CPA, CITP, CGMA@tomhood

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The Anticipatory CPA

What generation are you?

What area of the Profession are you?

Over 85% are Millennials and about 15% Gen X

About 65% Practice in Public Practice, balance in Biz, NFP, and Gov’t

Top Challenges1. Not enough time2. Being reactive vs proactive3.  Information overload4.  Success and talent development5. Doing more with less

How Future Ready are you?

Future Ready is the capacity to be aware, predictive, and adaptive of emerging challenges, tech innovations, and trends and changes in business, population, and social environment.

Top Skills Needed1. Communication2.  Inspiring and Motivating Others3.  Strategic & Critical Thinking4. Anticipating and serving evolving needs5.  Influencing and Persuading

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The Lookout Post

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Source: CPA.COM Insight into the CPA of the Future Study 2014

Only 8% of CPAs are Future Ready

Future Ready is the capacity to be aware, predictive, and

adaptive of emerging challenges, tech innovations, and trends and changes in business, population, and

social environment.

Gradual then Sudden

Gradual then Sudden

More Uber cars than yellow taxis on the road in NYC

AirBnB Rooms available surpasses Hilton & Marriott

'If the rate of change on the outside exceeds the rate of change on the inside, the end is near.’ – Jack Welch

Two of the world’s biggest oil and gas groups are set to deploy artificial intelligence software to do the work of back-office accountants and call-centre workers, in the latest sign that white- collar jobs could be under threat from the rise of smart machines.

Will your job be done by a machine?

Source: NPR Planet Money, May, 2015

In the next five years we will

TRANSFORM

How we market, sell , communicate, collaborate, innovate, and educate

– Dan Burrus

“You can’t stop the waves, but you can learn how to surf.” – Jon Kabat Zinn

Start by riding the hard trends…

Clients and Employers want CPAs to offer PROACTIVE advice and insights that are actionable about the future!

Five Steps to Get Started1.  Focus on the Future2.  Start with Certainty to

Find Opportunities3.  Learn New Skills4.  Protect the Core

Purpose & Values5.  Collaboration &

Relationships are key

Why are windshields so much bigger?

CPAs are trusted advisors who help business and organizations shape their future. Combining insight with integrity they deliver value by:

•  Communicating the total picture with clarity and objectivity;

•  Translating complex information into critical knowledge;

•  Anticipating and creating opportunities;

•  Designing pathways that transform vision into reality.

Source: AICPA: CPA Horizons 2025 Report

V A L U E

Adding Insight for Action

Information

Wisdom

Knowledge

Data Capacity

Competence

Credibility

Source: CGMA & DIKW Pyramid

Start With Certainty & Find Opportunities

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Cloud computing trends

Source: Sage North America

of small businesses are demanding cloud-based computing

61%

Only 10% of CPAs using cloud to work with clients!

OPPORTUNITY Technology’s impact on firm service lines

•  Efficiencies •  Innovation

•  Efficiencies •  Innovation

•  Transformative •  Revenue Growth

New Opportunities Emerging

Dramatic Change

Audit Tax Accounting

services

Source: AICPA Spring Council 2015

EXERCISE your TurnIdentify one hard trend impacting your organization:

Regulatory – Technology - Demographic

Then one BIG opportunity related to it!EXAMPLE:

Demographics: 80 percent of the people in our field will be retiring since they are Baby Boomers

Focus on hiring more young, innovative people who will think out of the box. Create a process for the people who

are retiring to help the younger people by sharing their knowledge and successes as well as their failures.���

We Need New Skills…

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ANTICIPATION  Strategic  Thinking  External  Awareness  Vision  Con7nuous  Learning  Innova7on  Crea7vity  Problem  Solving  Priori7za7on  Business  Acumen  Decisiveness  Influencing/Persuading  Emo7onal  Intelligence  Consensus  Building  Collabora7on  Inspira7on  Risk  Management  

Anticipation – The Critical Competency•  Anticipating and reacting

to the nature and speed of change.

•  Acting decisively without always having clear direction and certainty.

•  Navigating through complexity, chaos, and confusion.

•  Maintaining effectiveness despite constant surprises and a lack of predictability.

TrustIntegrityObjectivityExcellence Lifelong Learning

Protect the Core AND Stimulate Progress

When everything is changing, know what should not change…

The future is about relationships!

A Clarion Call to Get Out of Our Box(es)Leave me alone!

I spent thirty years building this box.

Top Five Barriers

1. Not enough time.2. Being reactive versus

proactive.3. Doing more with less.4. Information overload

(standards and regulations).

5. Managing change.

Getting started: The No. 1 AppSpend just one hour per week in the future…

“Those who initiate change will have a better opportunity to manage the

change that is inevitable.” - William Pollard

If there is a conversation about the future of the profession, you're bound to hear Hood's name mentioned as one of the people leading the way. – Accounting Today

Tom Hood, CPA, CITP, CGMA

CPA Practice Adviser Accounting Hall of Fame Named the Second Most Influential in Accounting by Accounting Today Magazine 2013 Top 150 Influencer by Linked-In Top 25 Influencers in Learning & HR by HR Examiner Top 25 Public Accounting Thought Leaders by CPA Practice Adviser Working on Learning Management with AICPA/CPA2Biz, Cloud Curriculum, Performance Management /XBRL, Leadership & Generations

CEO Maryland Association of CPAs (MACPA) www.macpa.org Business Learning Institute (BLI) www.blionline.org

http://www.linkedin.com/in/tomhood/

http://www.blionline.org/ao

www.burrus.com