Sep 05, 2023

Keep The “Burnout” at Bay

99%. That’s the percentage of auditors and accountants who report suffering from the “burnout,” harboring feelings of exhaustion, inefficiency and alienation from their jobs and careers, according to a recent study by the University of Georgia and FloQast, an accounting software company.


What’s behind the high number? According to the study, challenges including new regulatory compliance rules, long hours and the shift to remote work. While burnout among CPAs was a growing problem prior to COVID-19, the pandemic certainly exacerbated the issue.


During the off season, it’s important to recharge for next season and put in place some strategies to alleviate future burnout and safeguard your mental health. Here are some ideas:


Conduct a time audit. Are you working as efficiently as possible? If you’re not sure, it’s time to audit your time each week. According to the Paredo Principle, 80 percent of business outcomes come from 20% of the tasks we do. Try keeping track of how you spend your time each week so you can learn which tasks truly require a large investment of your time — and which could be cut back or eliminated altogether. For example, you might discover that time spent with clients produces the most outcomes, while daily and weekly staff meetings without a focused agenda do little to help you achieve your goals and could be reduced.


Set clear boundaries. The shift to remote work has blurred any boundaries between our work lives and personal lives, and it’s up to us to cultivate a healthy balance between the two. As high-achieving professionals, CPAs often say “yes” to nonessential requests or strive to get a project done before its due date. While it’s great to be fastidious, it’s important to step away from work at the end of the day and over the weekend so that you allow yourself time to recover. Take a few minutes to write down some boundaries that you’ll stick to as the season gets into full swing.


Delegate when you can. Because CPAs are often highly conscientious, they end up doing more than they need to. For instance, many spend too much time doing tasks that could be delegated or automated. Take control by focusing on the activities that mean the most to you, and delegate other tasks, such as administrative work, and use accounting software to automate manual tasks.


Use technology to stay focused. There are many technological tools to help you stay on task during the workday so that you can safeguard your free time. For instance, browser plugins like StayFocused, a productivity extension for Google Chrome, helps you stay on track by on by restricting the amount of time you can spend on time-wasting websites. Once your allotted time has been used up, the sites you have blocked will be inaccessible for the rest of the day. Other plugins can help you keep better track of just how well you are able to manage your time. When you’re ready to “turn off” for the workday, consider utilizing “do not disturb” features on your phone or your computer to help yourself maintain a proper work/life balance.


Take regular breaks. When working remotely, it’s important to understand that time away from your home office is critical to your mental and emotional well-being. People who work from a home office are less likely to go outdoors during the day, since you’re not required to commute or go out to lunch. With that in mind, set an alarm to take exercise breaks every few hours and give yourself a dedicated lunch break just like you would if you were in the office. And refrain eating lunch and snacks at your desk. Step away and give yourself a change in scenery. If you’re really feeling stressed, many workplace psychologists suggest taking a 10- or 20-minute catnap (yes, a nap!) during the workday. According to Dr. Sandra Mednick, author of “Take a Nap, Change Your Life,” napping can boost creativity, improve focus and restore the sensitivity of sight, hearing, and taste.

Take a stress test. It’s natural for CPAs to feel stress occasionally, especially during busy season. Burnout is a more serious condition, with symptoms that typically include energy depletion, cynicism, and inefficacy. If you suspect you’re feeling burned out, take notice and identify the root causes. Once you've pinpointed what's contributing to your burnout, you can begin to address the issue.


Be proactive. The early fall is the ideal time to have conversations with your clients’ leadership to plan ahead for upcoming busy season. Schedule a conversation so that both of you can be more prepared for the months ahead. You’ll want to discuss what’s going on with the business and what they’ll need to do to prepare for the attest engagement. This discussion will help set the stage for an effective engagement — and ensure that you’re able to manage your time effectively in the months ahead.


There’s no doubt about it: Busy season is a stressful time, but you can avoid the negative consequences by taking a proactive approach to managing your time, and your stress level.


Collemi Consulting leverages nearly three decades of experience to provide trusted technical accounting and auditing expertise when you need it the most. We often work with CPA firm leadership to help maximize efficiencies and increase realization. To schedule an appointment, contact us at (732) 792-6101.


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Hook 'em! How to Deliver More Compelling Presentations

21 Dec, 2023
Prepping to give a presentation? Here’s a quick trick: Make sure your introduction is attention-getting, and you’ll help ensure your audience members are thoroughly engaged until the very end. If you’re giving a slide presentation, that means that your first three slides are critical. A recent survey of businesspeople by Storydoc, a business presentation company, revealed that 80 percent of audience members who are engaged in the first three slides of a presentation will likely stick with you until the end of your presentation. That’s critical, considering another Gallup study that revealed that 60% of businesspeople admit to being “indifferent” to presentations, while another 11% say they’re “actively disengaged.” So, what to include in those first three slides? The best strategy is to start off with a hook: an eye-catching photo, an impressive number, an agonizing problem that members of the audience are likely to face, or a shocking statistic. Adding that hook toward the beginning of your presentation will help reel the audience in. Here are some additional presentation best practices that we at Collemi Consulting recommend: Know your audience. Understanding who comprises your audience is critical so that you can ensure you’re covering the material that matters the most to them. If you’re speaking at a conference or training event, get a list of attendees ahead of time and see who they are and where they’re from so that you can get an idea of their background. If it’s possible to communicate with attendees beforehand, send them a note introducing yourself and ask them if there are specific issues, they’d like you to touch on during your presentation. Ask questions. If you don’t interact with your audience at the beginning of your presentation, people will settle into a passive “TV-watching” mode, and it will be difficult to keep them engaged. And asking questions can also help you zero in on what matters most to the audience. For instance, you might throw out a question like, “What keeps you up at night most, XX or XX?” (reference specific challenges). Or, ask people to raise their hands if they’ve struggled with a specific obstacle. Then, you can be sure to address the challenges that most audience members indicate they’ve faced. Another way to keep people engaged with questions is by throwing out “trivia” questions related to specific new accounting standards or something else that pertains to the content you’re covering. If you make participants feel like they’re part of the presentation, they’ll be much more likely to pay attention — and retain the information. Add visual appeal. While your presentation is likely filled with a lot of important content, it’s critical to remember not to overload your audience with pages and pages of text. Break up slides with text and simple photos or illustrations that support your message. A well-chosen image is a welcome break from text that can grab your audience’s attention and help reinforce your message. You can find professional stock images on sites like Shutterstock. Provide a next step. Don’t just end your presentation abruptly by thanking people for coming. Close by including a slide that mentions what you’d like the audience to do with the information you shared with them. Perhaps you’d like them to make a list of ‘to-dos’ that will help them implement the information you’ve shared with them. Or maybe you’ll invite them to reach out to you should they need your services. A solid closing will build rapport — and help audience members retain what they’ve learned. Collemi Consulting leverages almost three decades of experience in providing trusted technical accounting and auditing expertise when you need it the most. Salvatore A. Collemi, CPA, Managing Member & Founder, is regarded as an industry leader and subject matter expert by various organizations and media outlets. To schedule an appointment to see how we might work together, contact us at (732) 792-6101.

Marketing for Auditors: 4 Savvy Strategies

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Want to know the difference between high-growth and average-growth firms in the public accounting profession? Here’s a hint: It begins with the letter “M.” If you guessed “marketing,” you’re correct. According to the 2023 High Growth Study by Hinge, public accounting and finance firms grew at a median rate of 11%, lagging behind many other professional services categories. But the study also uncovered that public accounting firms that focus on marketing as a top priority see regular, year-over-year growth of 20% or more! Here is the good news: You don’t have to be a Big 4 firm with extensive resources to leverage marketing to your advantage. Small-and mid-sized CPA firms, and even sole practitioners, can take some simple steps to differentiate themselves in their respective field. Many auditors & accountants and their firms are missing out on major opportunities to target clients using tools that are right at their disposal. Here are four strategies to build visibility for your practice and differentiate yourself from your competitors: Strategy #1—Public Speaking. Landing speaking gigs at industry conferences or on an industry podcasts or webinars are one of the best ways to position yourself and your firm as an expert in the field. Speaking gigs offer auditors a platform to showcase their knowledge, provide insights on relevant topics and establish themselves as an authority in the field while increasing their firm’s visibility. You can use speaking engagements to share best practices, identify emerging trends and offer solutions. To get started, do some research on upcoming conferences in your area where you might offer to contribute. Your State Society and local Chambers of Commerce may also have seminars or online events that offer speaking opportunities. Strategy #2—Create a newsletter. Some savvy CPA firms create email newsletters that provide valuable and relevant information to clients and prospects. Sending out periodic newsletters helps drive traffic to your website or blog (when you include links to relevant articles or resources), builds credibility by positioning yourself and your firm as a subject matter expert (SME), and encourages social sharing. If your content is engaging, it may prompt subscribers to share it on social media. Your newsletter doesn’t have to be lengthy: Two to three short articles, plus a call to action at the end, is enough to capture a reader’s attention. Strategy #3—Include lead magnets on your website. Lead magnets are incentives on your website that you offer potential clients in exchange for their contact information. For example, you might offer a white paper you’ve created on an important topic or a PDF that highlights important new information regarding the latest accounting rules. Creating these kinds of lead magnets can help you grow you email list and build a database of potential leads. Strategy #4—Amp up your social media. You may already be leveraging social sites like LinkedIn to promote yourself or your business, but are you gaining followers and increasing engagement? The best way to grow followers and generate more interaction is to share information of real value to those you want to target. It’s also important to post content frequently and interact regularly with followers. Remember that social media is all about dialogue (not sales pitches!). Approach it as a conversation; post content your followers are likely to share or comment upon, which will extend your reach to their connections. Be generous with your time and advice, and potential clients will want to work with you. Short on time? Pick one or two of these strategies to focus intently on in the upcoming year; the investment in time will be worth it. Collemi Consulting leverages nearly three decades of experience to provide trusted technical accounting and auditing expertise when you need it the most. We regularly work with CPA firm leadership to help them reduce risk and maximize efficiencies to grow their attest practices. To schedule an appointment, contact us at (732) 792-6101.
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