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NABA National Convention: Get Ready for the Fast Future

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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.

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NABA National Convention: 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  7. 7. 0 2 4 6 8 Poor reputation No personal relationship Inadequate staff to meet… Out-of-date technology Fees were too high CPA lacked expertise Referral to a new firm Poor responsiveness CPA advice not proactive Why SMBs leave their CPA / accountant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. 5 steps to becoming future-ready 1. Context 2. Certainty 3. Capacity 4. Competence 5. Core beliefs Bill Sheridan, CAE The Business Learning Institute
  11. 11. Context
  12. 12. “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
  13. 13. “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
  14. 14. Source: Frey & Osborne, “The Future of Employment,” Oxford University Race against the machines? Bill Sheridan, CAE The Business Learning Institute
  15. 15. 47%of all jobs gone within 25 years ‘No government is prepared’ for that level of job loss Source: The Economist
  16. 16. 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?
  17. 17. Certainty
  18. 18. Hard trends = future facts Four hard trends: 1. Government regulation 2. Technology 3. Demographics 4. Globalization
  19. 19. 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
  20. 20. Capacity
  21. 21. 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
  22. 22. 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
  23. 23. 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
  24. 24. 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
  25. 25. #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
  26. 26.  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
  27. 27.  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
  28. 28. “Professional judgment and expertise is not replaceable by machines.” — Cathy Engelbert CEO, Deloitte
  29. 29. “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
  30. 30. “Humans should only do work that only humans can do.” Peter Sheahan
  31. 31. Trust Integrity Objectivity Excellence Lifelong learning Core beliefs and values Protect the core and stimulate progress
  32. 32. 5 steps to becoming future-ready 1. Context 2. Certainty 3. Capacity 4. Competence 5. Core beliefs Bill Sheridan, CAE The Business Learning Institute
  33. 33. Calendar: The No. 1 app Spend just one hour per week in the future …
  34. 34. “We are called to be architects of the future, not its victims.” R. Buckminster Fuller
  35. 35. “The best way to predict your future is to create it.” Abraham Lincoln
  36. 36. Questions? Bill Sheridan, CAE The Business Learning Institute
  37. 37. 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  Flickr.com/photos/Sheridan The future- ready CPA Bill Sheridan, CAE The Business Learning Institute

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