CPA firm leaders are understandably frustrated today with everyday challenges, the unrelenting pace of change, and pressures to ensure future viability. What some leaders don’t understand, though, is they’re not hiding their feelings — they leak out indirectly, infecting everyone from their partners to first-year recruits.
While staff appreciate efforts at providing a better work-life balance, they look up and see a lot of frustrated people. If the life of a leader looks unattractive, the firm may have a succession problem on their hands on top of everything else.
But while there’s no denying we’re operating in a difficult business environment, it’s also opportunistic. This mix of frustration and opportunity is precisely why leaders must cultivate optimism — it provides the balance needed to navigate the storm while steering toward growth.
That doesn’t mean putting on an exuberant, bubbly, rah-rah facade. It doesn’t mean you have to change who you are or ignore the pressures the firm is facing. Think substance over style. Clarity on the firm’s future and the strategies needed to get there lead to a confident, genuinely positive outlook, and if communicated correctly, the rest of the firm will feel it too.
Know Yourself First
Optimism isn’t just a mindset; it begins with self-awareness. Leaders should understand their own strengths and weaknesses and strive to understand why and how they affect other people — and why others affect them the way they do. You may need to adapt your approach to accommodate others.
For example, people process information and express themselves differently. Adjusting your communication style helps ensure your message is understood and received how you intended. Leaders should also adapt to others’ work styles, showing they can adjust their behavior depending on who they are leading. When you show flexibility in your behavior, others feel respected and valued.
Be aware enough to connect with others in ways that maximize understanding, collaboration, and success. Not only can you develop a more empathetic leadership style, but knowing your own strengths and weaknesses breeds confidence, which is contagious.
Use Your Strategic Plan as Your North Star
I recently met with a group developing a strategic plan, and the preamble stated that every strategy was designed to further the firm’s overall goal: to remain independent. Every firm needs that kind of clarity — a North Star. Without common ground, partners may answer staff questions about the future in different ways, confusing employees about where the firm is headed. Even though leaders have different personalities and communication styles, clarity means they’ll hit the same themes in conversations.
One way to find your North Star is to ask some tough questions, such as:
- What is our five-year vision for the firm?
- What are the priorities that support it?
- What can we learn from past wins and challenges, and what will enable success in the future?
- Should we explore private equity?
- Is M&A better suited for us?
- Are we considering offshoring and outsourcing?
- Do we spend time on technology and automation?
Communicate Thoughtfully
These questions can be discussed in a partner meeting or retreat. I’m a big fan of setting an end date, such as three to five years, and using the plan as a rallying cry in all communications.
Your starting point in meetings — by industry, offices, staff levels or another combination — should involve a reminder of the firm’s focus. Maybe the goal is to be Virginia’s top independent firm by 2030. Repeating the goal and expectations surrounding it sets the tone and tempo for the meeting, keeping everyone aligned on the ‘why’ and ‘how.’
Once the North Star is clear, the next challenge is ensuring it’s communicated consistently across the firm. This is so important because the accounting profession tends to separate information into different buckets — this applies to the equity partners, this only relates to supervisors, etc. Feeding out information in bite-sized chunks doesn’t help staff put all the pieces together. A consistent message, communicated in a relatable way to various groups, creates a culture of clarity that breeds optimism about the future.
Bolster your communication with genuine care and concern by staying in touch with your teams and serving as a facilitator and source of information and resources. Stronger relationships almost always lead to better outcomes, especially when paired with true collaboration. This is particularly important when working across multiple generations, where buy-in and optimism are far more likely when people feel respected, included and part of the solution.
Test Your North Star
Even with the best intentions, optimism can slip away without focus. Keep asking questions, at least annually, to make sure you’re still on the right track and your strategies are aligned. We can’t ignore that technology and competition are revolutionizing the profession. Modifications may be necessary.
However, don’t change directions so fast that people’s heads are on a spindle. I suggest doing a quick test on your goals and strategy. Discussion points should cover progress over the last year in meeting priorities, whether the priorities should remain the same, and whether some activities should be stopped, started or continued.
Develop ‘An Unwarranted Degree of Optimism’
When I think about leadership, I often reflect on one of my favorite quotes. It’s from organizational consultant and author Warren Bennis in “The Leadership Advantage”: “Every exemplary leader that I have met has what seems to be an unwarranted degree of optimism — and that helps generate the energy and commitment necessary to achieve results.”
Bennis suggests that without this hopeful outlook, leaders may struggle to rally others or sustain momentum. In essence, optimism serves as both a personal anchor and a collective motivator.
I believe optimism can be fostered through discipline. If optimism isn’t intuitive, some daily structure can help. Recognize the patterns and triggers that get you thinking more optimistically. Develop habits to demonstrate optimism that are unique to your own motivations – and hold yourself accountable.
I also like this quote from salesman, author and motivational speaker Zig Ziglar: “People often say that motivation doesn’t last. Well, neither does bathing — that’s why we recommend it daily.”
Optimism is not about ignoring reality, it’s the discipline of charting a future course, communicating it clearly, and believing in your firm’s ability to not only get there but to thrive.
