To get another perspective on how CPAs can position themselves for success in the modern market, Tom invited his friend Rob Brown, who heads up the Accounting Influencers Roundtable, to be his guest on an episode of the WealthAbility® for CPAs podcast.
“The world is changing,” Rob said. “This is not like a football game where you go in the first half, play your heart out, you come back, have a drink, and then you go out the second half, and everything’s the same. The COVID pandemic has changed the game. It’s accelerated the need for change and upskilling.”
Here are the top 5 skills he says every CPA needs to compete in today’s fast-moving market.
1. Technical skills. Success as a CPA starts with being technically strong. It’s tough to stay current in the ever-changing tax space, so it’s critical to dedicate time to high-quality continuing education and personal study.
2. Technology skills. You don’t need to be able to write your own software code, but you do need to stay current on what technology is available in the market and how it can help you grow your practice and provide value to clients.
3. People skills. Accounting is about a lot more than numbers. To be a trusted advisor to your clients and an effective leader in your business, you need to have strong people skills, especially around communication. If you want to develop your people skills, spend time practicing how you share and explain information.
4. Sales skills. Once you’ve mastered people skills, take them a step further to develop your sales skills. The ability to sell extends far beyond the ability to win new business. In today’s practice, you will find yourself selling ideas, initiatives, culture, vision and much more.
5. Business skills. If you own your CPA practice, it’s critical that you invest in developing business skills. But commercial acumen is also hugely valuable to accountants who work for someone else. Understanding how to think like an entrepreneur will make you more relevant in today’s rapidly changing world.
Check out the full episode for more advice on staying current.
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