CPA2b Spring 2016

Page 29

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o you’ve told your parents, sibling and all of your B-school friends that you’re going to be a CPA. Mother is proud and father is happy that you’ll one day be employable. Yet your sister doesn’t care and your friends feel sorry for you. They’ve heard that CPAs sit in a corner and crunch numbers all day. On top of that, it’s hard to get away from long hours in the late winter months. They’re not entirely wrong. As a CPA, there’s certainly a path you can take directly to that dreary cubicle where you can crank away 50-plus hours a week. But you could do that in any profession. If you lack communication skills and don’t like to be bothered by people, don’t be afraid to go that route. You’ll make a decent salary and be left alone to tick-and-tie, foot, change the 10-key tape and have time to eat a bologna sandwich every day for lunch.

The following professionals can lead to new clients for your firm, and they can provide assistance to your current clients (this is not an exhaustive list):  Bankers: help clients by financing expansion and providing liquidity.  Attorneys: write and review contracts upon which clients rely.  Insurance representatives: insure clients’ businesses and livelihood.  Wealth managers/financial planners: help clients invest their accumulated wealth.  Government and community leaders: these movers and shakers know everyone in town and help write the rules of the game.

While that description may be a bit exaggerated, it’s the picture drawn in many a comic strip. However, there are many in the field who buck the stereotype. Yes, there are opportunities to sit in the shadows with the required filings CPAs know and love. But there are many more opportunities for a well-connected professional aiming not only to be an auditor or tax professional, but also a trusted business advisor and consultant who succeeds at marketing and personal development. So how does a young CPA become well-connected, meet business professionals and earn their trust?

Being the bright, hardworking, new CPA that you are, partners and managers are sure to take notice. Soon, you’ll likely get a call from a partner: A longtime banking contact has hired a new associate at the bank and wants the four of you to get together for lunch. Make the best of this opportunity; it’s a great time to start building your network. Bankers know a lot of people in the business community, and who knows, you may come away with a new friend.

As you start your public accounting career, partners and managers will challenge you with different projects to determine your competencies. Can you handle high-level and highstress engagements? Can they trust you with handling direct communication with business savvy clients? The first step in your career should be to absorb as much of this as possible. Figure out what you’re good at, what you like to do and how you can help the firm succeed. You’ll have to continue to work hard at the technical side of your career throughout, but also focus on building your network. Once you have a couple of years under your belt and you feel comfortable discussing your trade with other businesspeople, it’s time to expand your network. If you want to be a partner one day or have aspirations to move to industry, meeting the right people in the business community is invaluable. So, where do you start? Let’s begin with the type of people who are helpful for CPAs to meet and why.

With your newfound networking confidence, you’ll look for places to meet people. Consider getting involved with the WICPA Young Professionals Committee to meet other young CPAs and learn how to promote the profession. Are you a proud alumnus of your university? Join an alumni group. Many professionals fondly remember their college years and it’s always nice to reminisce about that tough calculus professor. Is there a nonprofit organization that aligns with your passions and beliefs? Volunteer your services, whether it’s in a food pantry or on a finance committee. There’s nothing better than helping others and meeting people who share your passions while helping you gain name recognition. Does your local chamber of commerce or another business organization have roundtables or development groups? Consider joining a group to keep abreast of what’s going on in the business community. Keeping yourself informed makes it easier to converse at a more sophisticated level. Also, you never know who you’ll meet! After you begin establishing a network, make an effort to keep in touch with everyone. Whether it’s coffee, lunch, happy hour or dinner, keep them on your mind and help them in any way you can. Someday your connections may help you develop business, find a new opportunity or solve an important problem. Never underestimate a simple introduction. Kyle R. Stephens, CPA is a supervisor at Scribner, Cohen & Co. S.C. in Milwaukee. Contact him at 414-271-1700 or krscpa@scribnercohen.com. 800-772-6939

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CPA2b Spring 2016 by WICPA - Issuu