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The Bounce - Elevating and Accelerating Your Career in an Age of Abundance

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What can you do to accelerate your career in these times of exponential change? You are living through the biggest change in the workplace as 10,000 baby boomers retire every day. This means unprecedented opportunities for young and emerging leaders. The Bounce is a concept that shows the shifts needed to make the transition from individual contributor to supervisor and leader. You will learn about the critical skills needed to accelerate your career and take it to the next level.

Tom's 7 Principles to Accelerate Your Career
1. Know yourself – Strengths & Values
2. Anticipation & Innovation
3. Embrace Digital – #FriendWatson
4. The learning curve is the earning curve
5. Leaders are readers
6. Your network is your net worth
7. The collaboration curve > experience curve

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The Bounce - Elevating and Accelerating Your Career in an Age of Abundance

  1. The BOUNCE! Elevating and Accelerating your Career in an Age of Abundance Tom Hood, CPA, CITP, CGMA @tomhood #AICPAENGAGE The Business Learning Institute
  2. Tom Peters and CPAs 2
  3. #PSTech Tom’s principles for #FutureReady leaders 1. Know yourself – Strengths & Values 2. Anticipation & Innovation 3. Embrace Digital – #FriendWatson 4. The learning curve is the earning curve 5. Leaders are readers 6. Your network is your net worth 7. The collaboration curve > experience curve @tomhood
  4. Know yourself
  5. Leading Others – The Five Management Practices 1. Keeping expectations clear 2. Communicating well 3. Maintaining the right Meeting Rhythm 4. Having Quarterly Conversations 5. Rewarding and recognizing
  6. Anticipation & Innovation
  7. On January 9th, 2007 the world changed
  8. 'If the rate of change on the outside exceeds the rate of change on the inside, the end is near.’ – Jack Welch 6/14/18 10
  9. Vaporized Whatever can be vaporized will be vaporized. - Robert Tereck author of Vaporized: Solid Strategies for Success in a Dematerialized World 11
  10. } Vaporized “Whatever can be vaporized will be vaporized.” Robert Tereck author of Vaporized: Solid Strategies for Success in a Dematerialized World
  11. Source: Deloitte | Accenture Artificial intelligence Blockchain Data analytics Cybersecurity ROBOTICS is predicted to automate or eliminate up to... of basic accounting work by 2020.
  12. “The greatest shortcoming of the human race is our inability to understand the exponential function.” —Albert A. Bartlett 6/14/18 BDO Alliance 2018 - Tom Hood, CPA, CITP, CGMA 14
  13. 1997 2011 2016 2013 2018 Some examples of Exponential Trends
  14. 1. Artificial intelligence, machine learning, and cognitive computing in audit and tax 2. Big Data and high-speed data analytics 3. Adaptive and predictive cybersecurity 4. Virtualization and automation of processes and services (RPA) 5. Mobile apps for business process innovation 6. Blockchains and cryptocurrency 7. Advanced cloud computing 8. Smarter smartphones and tablets drive mobile process automation 9. Virtualization of desktops, storage, applications, and networking 10. Social business applications + 1 RPA – Robotic Process Automation Source: 2018 Top technology Trends – Burrus Research BLI-MACPA Research with over one thousand finance and accounting professionals Top 10 Technology Hard Trends Shaping the Profession in 2018
  15. Warner Bros/courtesyEverett Collection/Everett Collection What happens to this industry when all financial and economic data is being updated, automatically and indisputably in real time? What happens to the people who lose their jobs? What happens to the work culture? If the future foreseen by this book comes to pass, we’ll witness the biggest employment shakeup the world has ever seen… And this time, the most vulnerable jobs are not the usual suspects: the factory workers, the low-level clerks, or the retail store assistants. Now it’s the accountants, the bankers, the portfolio managers, the insurers, the title officers, the escrow agents, and the trustees—and, yes, even the lawyers. - Michael Casey & Paul Vigna
  16. Bots in Accounting (RPA)
  17. The # 1 Competency for CPAs = Anticipation “To succeed in business these days, simply being lean, agile, and executing well is no longer enough. To thrive in this new age of hyper-change and growing uncertainty, it is now an imperative to learn a new competency—how to accurately anticipate the future.” - Daniel Burrus, one of the World’s Leading Futurists on Global Trends and Innovation. 19
  18. Anticipate: Certainties - Hard Trends 1. Government Regulations and Standards 2. Demographics 3. Technology These trends have direction and speed, they are moving forward with or without us. In the case of technology, it is exponential.
  19. Source: IFTF: Future Work Skills 2020
  20. Disrupt yourself before someone else does!
  21. The Future of our Profession 1997 2011 2025
  22. Business Events Data Information Knowledge Decisions 1. Communicating with clarity and objectivityCPAs are trusted advisors who enable people and organizations shape their future, Combining insight with integrity, CPAs deliver value by: ENVISIONED FUTURE 2025 2. Translating information into knowledge 3. Anticipating and creating opportunities 4. Designing pathways to transform vision to reality
  23. Embrace Digital #FriendWatson
  24. "we didn’t do anything wrong, but somehow, we lost” – Stephen Elop, Nokia CEO – September, 2013 after sale to Microsoft They missed out on learning, they missed out on changing, and thus they lost the opportunity at hand to make it big. Not only did they miss the opportunity to earn big money, they lost their chance of survival. – Rahul Gupta on Linked-In
  25. In a period of rapid change and increasing complexity, the winners are going to be the people who can LEARN faster than the rate of CHANGE and faster than their COMPETITION. Tom Hood, CPA, CITP, CGMA
  26. In a period of rapid change and increasing complexity, the winners are going to be the people who can LEARN faster than the rate of CHANGE and faster than their COMPETITION. Tom Hood, CPA, CITP, CGMA
  27. Where the number one skill will be the ability to learn new skills. – Robert Safian - FastCompany
  28. #FutureReady Competencies in the Age of the Machines ● Anticipating and serving evolving needs ● Critical thinking and problem solving ● Synthesizing intelligence to insight ● Integration and collaboration ● Tech-savviness and data analytics ● Communications ● Leadership ● Functional and domain expertise Future Ready Competency Matrix © Copyright Business Learning Institute 2017
  29. 1995 1997 2012 Leaders are Readers
  30. Become #FutureReady: The Five Building Blocks Mindset Anticipatory Skills Insight Selling Collaboration Skills Confidence Source: Joey Havens, HORNE LLP 34
  31. "The Anticipatory Organization Learning System helps establish a mindset, a common language and eventually a culture of being anticipatory for our clients. By making this anticipatory skillset a core strength of our teams, it brings creative and new ideas that make us more valuable to our clients and it creates a game changer for our firm.” -Joey Havens, CPA Executive Partner, HORNE LLP Top 50 CPAFirm Anticipatory Skills
  32. “co-creation with customers produce differentiation. They consider the information explosion to be their greatest opportunity in developing deep customer insights.” - IBM Global CEO Study Collaboration Skills
  33. 1. Educated me with new ideas or perspectives 2. Collaborated with me 3. Persuaded me we would achieve results 4. Listened to me 5. Understood my needs 6.Helped me avoid potential pitfalls “...the shift in value has moved from the product or service you’re selling to the value you provide buyers.” Insight Selling
  34. BUYERS WERE 3X MORE LOYAL TOSELLERS WHO PROACTIVELY BROUGHT OPPORTUNITIES TO THEIR ATTENTION. Two types of Insight Selling “ …the process of creating and winning sales opportunities, and driving change, with ideas that matter.” Opportunity Insight – Using Anticipatory Skills about trends to proactively bring up ideas. We call this selling with certainty. Interaction Insight – Provides value in the form of sparking new ideas by collaboration with the client about opportunities and predictable problems.
  35. Confidence 1.Fear of Losing the Business 2.Fear of Being Embarrassed 3.Fear of Feeling Inferior The 3 Biggest Fears
  36. Your network is your net worth 8,181 VIEWS AUCKLAND, NZ 15 MINS
  37. 41 CC>EC #MBSN
  38. The Power of Yet! Believing that you can improve – Carol Dweck
  39. If we fail, it’s not because our machines are too intelligent, or not intelligent enough. If we fail, it’s because we grew complacent and limited our ambitions. Our humanity is not defined by any skill, like swinging a hammer or even playing chess. There’s only one thing a human can do. That’s dream. So let us dream BIG! Garry Kasparov – TEDTalk
  40. #FutureReady Reading List • The Anticipatory Organization – Daniel Burrus • The Second Machine Age – Erik Brynolfsson & Andrew McAfee • The Future of the Professions – Richard Susskind and Daniel Susskind • The Truth Machine – Michael Casey & Paul Vigna • Thank You for Being Late – Thomas Friedman • The Excellence Dividend – Tom Peters • CPA of the Future Study – CPA.COM http://bit.ly/CPAFuture • Top 8 skills for finance and accounting professionals in the age of machines http://bit.ly/CPASkills • Top 10 technology hard trends facing accounting and finance professionals http://bit.ly/Top10HardTrends
  41. Thank You! Contact us at: tom@macpa.org Visit us at: http://www.macpa.org http://www.blionline.org
  42. 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 2011-present • Top 100 Influencer by LinkedIn (700,000+ followers) • Member of the Forbes Finance Council • Top 25 Influencers in Learning & HR by HR Examiner • Top 25 Public Accounting Thought Leaders by CPA Practice Adviser CEO Maryland Association of CPAs (MACPA) macpa.org Business Learning Institute (BLI) blionline.org http://www.linkedin.com/in/tomhood 47

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