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Becoming Entrepreneuri-ALL Business Advisors

Most professional advisors prefer to work with ambitious entrepreneurial businesses yet it is important that as accountants and business advisors we also reflect this mindset and behaviour in our own dealings and actions.

We need to become more entrepreneurial.  But this shouldn’t be restricted to an ambitious handful of rainmakers.  Entrepreneurship should be reflected across the firm and become part of its culture. We could and should all do our bit.

In a nutshell, we need to become more entrepreneuri-all.

How can we achieve this?  Here are some suggestions:

  • Be quick to identify gaps in services.  Opportunities to fulfill.  New emerging sectors  to service.
  • Instill a culture of asking WHY?  Ask why we do everything we do?  Every internal and external process should be questioned with the underlying theme of “is this action or process bringing value to our client?”  If not, consider culling it to save on cost and redirect resource elsewhere.
  • Share the vision of where the business is going to all members of the team.  This helps everyone understand where they fit in and how they can make a contribution.
  • Provide regular updates on financial results of the office – good and bad.  This reminds everyone that it is a business after all.
  • Make team members accountable for their own results.  As long as everyone is clear on the vision, their individual role and objectives and regularly appraised of the wider results then this helps instil a sense of empowerment and responsibility – which in turn leads to entrepreneurialism.
  • Encourage ideas and risk-taking on internal initiatives within the firm e.g. experiment with new marketing ideas, embrace change and be quick to spot new solutions.
  • Listen and respond quickly to changing client and market needs.  Develop new services.  Try new stuff.
  • Keep asking why?  Have fun.

How else could we as professionals become more entrepreneuri-ALL?

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How to become a BIG IDEAS accountant?

Businesses are increasingly putting innovation at the top of the business growth agenda.  This puts increased pressure on accountants to become more innovative in their approach and thinking.

But how is this possible when the accountancy profession is so hard-wired toward left brain process driven, analytical thinking?

The good news is that anyone can become a BIG IDEAS person.  It just takes practise. (Ideally Passionate Practise).

Here are some simple exercises:

  1. Start noticing everything. Become a traveller in your day-to-day life.  Notice more.  Start questioning the processes and assumptions under which you operate at work and in the office.
  2. Every day, ask yourself a good open question and write it at the top of a sheet of A4.  Write a list of possible solutions and don’t stop until you’ve filled the page or written at least 25 answers (whichever happens sooner)
  3. Get a whiteboard in your office and sketch out the key problems you’re trying to solve.  It’s far easier when you can see the problem (plus it helps others see the problem too).
  4. Read more widely.  Pick up random magazines e.g. from weekend newspapers, and notice key themes and trends.  Notice the design of slick advertising.  Read articles that you might not normally consider reading.
  5. Mix with more people.  Say yes more to invites from people who you might not normally choose to hang-out with.  Ask questions and listen.  Suspend your judgements or preconceptions.  You might just find that you’re way off the beat and learn a thing or two.
  6. Mind-map your thoughts on a sheet of paper.  Use lots of colours.  (Your mind likes colours.  Trust me).  Look for connections and draw arrows to connect them.  Stick it up on the wall.  Return to it later and notice that you’ll spot even more connections.  Spooky.
  7. Get up and walk about when you hit mental sticking points.  Extra blood flow to the brain via exercise could be just the stimulus you need to make that break-through.
  8. Ask good questions.  Good questions are those that are open and invite possibility thinking e.g. “What if we opened an office in X, what might this mean for our business?”  See point 2 above.
  9. Encourage a culture of idea generation within your team.  Eradicate cynicism.  Allow team members to feel empowered to challenge the norm without fear of being ‘”shot-down” or made to feel silly or embarrassed.  After all, initial seedling ideas can turn into giant market leading oak trees.
  10. Develop an ethos of learning as a continuum within your team and become sceptical when things start to feel obvious, comfortable or black and white – revel in the grey and uncertain as this is where breakthroughs live.

Here are just 10 ideas.  Try some today.  Let me know how you get on or any other suggestions you have?

[Photo credit to ViaMoi]

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