COCPA - The Anticipatory Individual and Organization

The  An'cipatory  Individual  and  Organiza'on  

Tom  Hood,  CPA,  CITP,  CGMA  @tomhood  

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Your Learning Journey

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The # 1 Challenge

0 2 4 6 8

Poor reputation

No personal relationship

Inadequate staff to meet needs

Not using state-of-the-art technology

Fees were too high

Expertise of former CPA was lacking

Referral to a new firm from someone

CPA had poor responsiveness

CPA didn’t give proactive advice, only reactive service

Why SMBs Leave Their CPA / Accountant

The  Faster  you  go,  the  Farther  Ahead  You  Have  to  Look  

www.blionline.org

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.

“You can’t stop the waves, but you can learn how to surf.”

– Jon Kabat Zinn

Oceans of Opportunity

5 Steps to be Future Ready1. Context 2. Certainty3. Capacity4. Competence 5. Core Beliefs

Context

“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

'If the rate of change on the outside exceeds the rate of change on the inside, the end is near.’ – Jack Welch

In the next five years we will

TRANSFORM

How we market, sell , communicate, collaborate, innovate, and educate.

– Dan Burrus

More Uber cars than yellow taxis on the road in NYC

Gradual then Sudden

Race Against the Machines?

Source: Frey & Osborne – The Future of Employment – Oxford University

What does the future hold? Technology is changing and disintermediating many trades and professions

•  Medical, Legal, Accounting

Patterns and Trends •  Automation replacing routine tasks – higher order (soft skills and analytics)

necessary to survive •  Alternative options to services and knowledge – automated or otherwise – Tax

and Audit implications •  Globalization, specialization and consolidation changing the landscape. •  Domain expertise matters

Are you using the language of the future or the past?

Are your office & technology in the future or the past?

Will students feel they are time traveling back in time?

Do you know what your clients are facing now and in the future?

The  Faster  you  go,  the  Farther  Ahead  You  Have  to  Look  

Certainty

Borrowed from the US Army War College, VUCA was coined by The Institute for the Future to describe the rapidly changing and complex business environment since the Great Recession of 2008.

Can you predict the future?

•  Linear & Exponential Change•  Cyclical Change•  Hard Trends vs Soft Trends

Certainty

Hard Trends

Four Hard Trends:1. Government Regulation2. Technology3. Demographics4. Globalization

12,000 CPAs, 75,000 Comments over 15

years

Relationships & Collaboration

Disruption and RONI���The gap is widening, faster!

Source: Clayton Christensen, “Innovation Killers”

We think this is trade-off

Capacity

The Top 6 Ways to Create Capacity in your Firm

•  Maximize software & tools you have•  Use the latest and most efficient technologies•  Workflow & Process Efficiency•  Focus on your best ‘A’ clients•  Communicate your services (cross-sell)•  Engage your people

#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.!

Source: CPA.COM Insight into the CPA of the Future Study 2014

92%  of  CPAs    Not  #futureready  

Competency

Disrup'ons      before  they  disrupt  Problems      before  you  have  them  Customer  Needs    before  they  have  them    New  Opportuni'es  before  the  compe''on  

An'cipate  

Source:  Daniel  Burrus  

www.blionline.org

ANTICIPATION  Strategic  Thinking  External  Awareness  Vision  Con'nuous  Learning  Innova'on  Crea'vity  Problem  Solving  Priori'za'on  Business  Acumen  Decisiveness  Influencing/Persuading  Emo'onal  Intelligence  Consensus  Building  Collabora'on  Inspira'on  Risk  Management  

Anticipation – The Critical Competency•  Anticipating and reacting to the

nature and speed of change.•  Acting decisively without always

having clear direction and certainty.

•  Navigating through complexity, chaos, and confusion.

•  Maintaining effectiveness despite constant surprises and a lack of predictability.

Source: Conference Board Global Leadership Forecast 2015

Core Purpose & Values

CPAs are trusted advisors who help business and organizations shape their future. Combining insight with integrity they deliver value by:

•  Communicating the total picture with clarity and objectivity;

•  Translating complex information into critical knowledge;

•  Anticipating and creating opportunities;•  Designing pathways that transform vision

into reality.Source: AICPA: CPA Horizons 2025 Report

Integrity  Competence  Lifelong  learning  Objec'vity  Commitment  to  excellence  

Protect  the  Core  

CPAs…Making  sense  of  a  changing  and  complex  world  

5 Steps to be Future Ready1. Context 2. Certainty3. Capacity4. Competence 5. Core Beliefs

V A L U E

Adding Insight for Action

Information

Wisdom

Knowledge

Data

Compliance

Reliance

Source: CGMA & DIKW Pyramid

V A L U E

Calendar - The No. 1 AppSpend just one hour per week in the future…

Hood's  greatest  a<ribute  isn't  that  he  consistently  glimpses  the  future  more  quickly  than  the  rest  of  us  (though  he  does).  It's  that  he's  able  to  bring  it  back  to  the  present  and  serve  as  its  Freless,  inspiring  and  effecFve  champion. – Accounting Today

Tom Hood, CPA, CITP, CGMA

 •  CPA  Prac'ce  Adviser  Accoun'ng  Hall  of  Fame    •  Named  the  Second  Most  Influen'al  in  Accoun'ng  by  Accoun'ng  

Today  Magazine  2013  &  2015  •  Top  150  Influencer  by  Linked-­‐In  •  Top  25  Influencers  in  Learning  &  HR  by  HR  Examiner  •  Top  25  Public  Accoun'ng  Thought  Leaders  by  CPA  Prac'ce  Adviser  •  Working  on    Learning  Management  with  AICPA/CPA2Biz,    Cloud  

Curriculum,  Performance  Management  /XBRL,  Leadership  &  Genera'ons    

CEO Maryland Association of CPAs (MACPA) www.macpa.org Business Learning Institute (BLI) www.blionline.org

http://www.linkedin.com/in/tomhood/