Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Maine Society of CPAs: Get Ready for the Fast Future

427 views

Published on

Becoming "anticipatory" -- learning how to spot future trends before they disrupt is -- is more important than ever. It's also a skill we can learn.

Published in: Business
  • Be the first to comment

  • Be the first to like this

Maine Society of CPAs: Get Ready for the Fast Future

  1. 1. The fast future Get ready for … The anticipatory accounting and finance professional Bill Sheridan, CAE The Business Learning Institute
  2. 2. bli.cnf.io
  3. 3. MPH: 300,000 MPG: 2 million Price: 4 cents
  4. 4. Our top challenge?
  5. 5. “When the job is in the way of the work, consider changing your job enough that you can go back to creating value. Anything less is hiding.” Seth Godin
  6. 6. Top five issues impacting CPAs 1. Keeping up 2. Information overload 3. Doing more with less 4. Being proactive vs. reactive 5. Complexity Bill Sheridan, CAE The Business Learning Institute
  7. 7. 0 2 4 6 8 Poor reputation No personal relationship Inadequate staff to meet… Out-of-date technology Fees were too high CPA lacked expertise Referral to a new firm Poor responsiveness CPA advice not proactive Why SMBs leave their CPA / accountant Bill Sheridan, CAE The Business Learning Institute
  8. 8. 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. Bill Sheridan, CAE The Business Learning Institute
  9. 9. “You can’t stop the waves, but you can learn how to surf.” – Jon Kabat-Zinn Oceans of opportunity
  10. 10. The faster you go, the farther ahead you have to look.
  11. 11. 5 steps to becoming future-ready 1. Context 2. Certainty 3. Capacity 4. Competence 5. Core beliefs Bill Sheridan, CAE The Business Learning Institute
  12. 12. Context
  13. 13. “We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before.” -- Klaus Schwab, World Economic Forum Bill Sheridan, CAE The Business Learning Institute
  14. 14. “In the next five years, game-changing technologies will transform every business process, including how we sell, market, communicate, collaborate, educate, train, and innovate.” -- Daniel Burrus
  15. 15. Source: Frey & Osborne, “The Future of Employment,” Oxford University Race against the machines? Bill Sheridan, CAE The Business Learning Institute
  16. 16. 47%of all jobs gone within 25 years ‘No government is prepared’ for that level of job loss Source: The Economist
  17. 17. Bill Sheridan, CAE The Business Learning Institute  Are your offices, workspaces, and technology future-focused?  Do you know what your clients are facing now and in the future?  Are you using the language of the future or the past?  Will students and potential employees feel like they are traveling back in time when they walk through your door?
  18. 18. Certainty
  19. 19. Hard trends = future facts Four hard trends: 1. Government regulation 2. Technology 3. Demographics 4. Globalization
  20. 20. Disruption and RONI The gap is widening, faster! Source: Clayton Christensen, “Innovation Killers” We think this is the trade-off Bill Sheridan, CAE The Business Learning Institute
  21. 21. Capacity
  22. 22. 6 ways to create capacity • Maximize the software and tools you have • Use the latest, most efficient technologies • Workflow and process efficiency • Focus on your best ‘A’ clients / customers • Communicate your services (cross-sell) • Engage your people
  23. 23. Competency Disruptions before they disrupt Problems before you have them Customer needs before they have them New opportunities before the competition Anticipate Source: Daniel Burrus
  24. 24. The research The latest research inside and outside the CPA profession re- affirms the top competencies and skills needed by accounting and finance professionals. Bill Sheridan, CAE The Business Learning Institute
  25. 25. Top skills that accounting and finance professionals need today BLI Research in 2015 with over 1,000 responses from all segments of the CPA profession identified these top skill needed to be successful in these rapidly changing times. This confirms and reinforces the research from the Conference Board, AICPA’s CPA Horizons 2025 report, Bersin, and Burrus Research. 75% covered by these top 5 skills
  26. 26. V A L U E Adding Insight for Action Information Wisdom Knowledge Data Compliance Reliance Source: CGMA and DIKW Pyramid V A L U E
  27. 27. #FutureReady Is the capacity to be anticipatory (aware, predictive and adaptive) of emerging technology and trends in business, demographics, and the social environment impacting your organization and industry. Bill Sheridan, CAE The Business Learning Institute
  28. 28.  Respond lightning fast  Access an encyclopaedic memory  Stay awake 24 x 7 x 365  Remember conversations  Analyze on the fly  Continually learn and improve Advantage, machines Source: AccountingWEB
  29. 29.  Intuition  Political acumen  Challenging  Reading the back story  Who’s who?  Probability of change  Culture  What’s in it for me? Advantage, humans Source: AccountingWEB
  30. 30. “Professional judgment and expertise is not replaceable by machines.” — Cathy Engelbert CEO, Deloitte
  31. 31. “What can I become quite good at that’s really difficult for a computer t o do one day soon? How can I become so resilient, so human and such a linchpin that shifts in technology won’t be able to catch up? It was always important, but now it’s urgent.” -- Seth Godin
  32. 32. “Humans should only do work that only humans can do.” Peter Sheahan
  33. 33. Trust Integrity Objectivity Excellence Lifelong learning Core beliefs and values Protect the core and stimulate progress
  34. 34.  Autonomy  Mastery  Purpose What do people really want?
  35. 35. 5 steps to becoming future-ready 1. Context 2. Certainty 3. Capacity 4. Competence 5. Core beliefs Bill Sheridan, CAE The Business Learning Institute
  36. 36. The Shift Change Leadership Learning Technology Generations Workplace
  37. 37. The challenge and opportunity is to make the shift from the first curve to the second curve at the right time and with the right strategy.
  38. 38. “How would you think differently about your strategy if you knew your advantage might not last?”
  39. 39. Calendar: The No. 1 app Spend just one hour per week in the future …
  40. 40. “We are called to be architects of the future, not its victims.” R. Buckminster Fuller
  41. 41. “The best way to predict your future is to create it.” Abraham Lincoln
  42. 42. Questions? Bill Sheridan, CAE The Business Learning Institute
  43. 43. Books These are among the resources that were discussed during the our “Future-Ready CPA” programs. The Future of the Professions: How Technology Will Transform the Work of Human Experts By Richard and Daniel Susskind www.susskind.com The Fourth Industrial Revolution By Klaus Schwab bit.ly/1qLrfzs Flash Foresight: How To See The Invisible And Do The Impossible By Daniel Burrus bit.ly/1SOn7FG The Second Machine Age: Work, Progress And Prosperity In A Time of Brilliant Technologies By Erik Brynjolfsson and Andrew McAfee www.SecondMachineAge.com The Industries Of The Future By Alec Ross bit.ly/2fP8cnU Thank You For Being Late: An Optimist’s Guide to Thriving in the Age of Accelerations By Thomas Friedman bit.ly/2hag0Rg
  44. 44. What SMBs Want From Their Accountant From The Sleeter Group bit.ly/2fCsvkc Welcome to the Fast Future From CPA.com bit.ly/2gdHlBj The Future of Employment: How Susceptible Are Jobs To Computerization? By Carl Benedikt Frey and Michael Osborne bit.ly/1kre5T6 CPA Horizons 2025 From the American Institute of CPAs bit.ly/1UEN1x2 Innovation Killers: How Financial Tools Destroy Your Capacity To Do New Things By Clayton Christensen, Stephen P. Kaufman and Willy Shih bit.ly/1JtBxfG Ready-Now Leaders: Meeting Tomorrow’s Business Challenges From DDI bit.ly/V05HQ6 Whitepapers These are among the resources that were discussed during the our “Future-Ready CPA” programs.
  45. 45. Download these slides: Slideshare.net/BillSheridan Follow me:  MACPA’s blog: CPASuccess.com  Facebook.com/BillSheridan  LinkedIn.com/in/BillDSheridan  Twitter.com/BillSheridan  YouTube.com/BillSheridan  SlideShare.net/BillSheridan  Instagram.com/BDSheridan The future- ready CPA Bill Sheridan, CAE The Business Learning Institute

×