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Accounting Professionals Must Unlock Their Entrepreneurial Mind-Set

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Accounting Professionals Must Unlock Their Entrepreneurial Mind-Set

The world’s most successful entrepreneurs share the characteristics of being resourceful, innovative and highly skilled at problem-solving. They also possess the ability to get back up quickly after set-backs or failures. These are the kinds of traits leaders in accounting and business operations believe are crucial for achieving exponential success.

Accounting professionals who tap into their own entrepreneurial mind-set are better equipped to grow their practice, lead their team and serve their clients.

They are also more likely to look for new, more effective ways to optimise processes and operations. For accounting practices, this would include using online accounting softwares, which streamline and fast-track traditional bookkeeping processes. In addition, the artificial intelligence-driven solutions available, can detect errors immediately, ensuring that the company’s books are always accurate and reducing the administrative stresses which can get the better of small- to medium-sized practices.

While not everyone is meant to be an entrepreneur, everyone in this day and age should be entrepreneurial in their thinking and behaviour to truly succeed.

This means unlocking the tools entrepreneurs use to succeed across a variety of industries – from the corporate arena, to the arts – including story-telling, engagement, differentiation and tapping into technology.

The following seven tips are recommended to practitioners and entrepreneurs:

  1. Expect to be surprised, then plan accordingly. Given the rapid pace that technology is growing, it’s impossible to keep up and understand what’s coming next. Success comes in understanding that this is ok.
  2. Embrace uncertainties. After all, opportunities present themselves when we climb through the uncomfortable windows of life.
  3. Build adjacent to technology. With things moving so fast, you can’t jump on board with every innovation. That said, you shouldn’t run away from them either. Get on board and leverage the technology wave.
  4. Create effective messages that drive engagement amidst the overflow of content. The average person scrolls about 4km to 7km on their phones every day. With this in mind, every brand needs to be purpose-driven in the content they deliver and ensure that it adds value within this infinite scroll.
  5. Understand, communicate and sustain your story. No one cares what or how your business does what it does, they care about why. Once you are able to identify your ‘why’ and align your story with it, your brand’s power will come through.
  6. Throughout life, look to stop just ‘implementing’, ‘experiment’ instead. It’s proven that more success comes as a result of constant application and experimentation over the standard implementation of rules we’ve been taught over our lifetime.
  7. Like all the greatest entrepreneurs, build for impact and purpose – not for profit. For example, Oprah’s ‘why’ is to serve, while Mark Zuckerberg’s ‘why’ is to connect people. The more value you’re able to add with your ‘why’ – and connected purpose, the greater value society will place in you and your business ventures.

We recommend accounting softwares with track record of providing accountancy professionals with the tools and platforms to support and enable the growth and impact of their practice.

Authors: Brandon Wilson is Director of Marketing: Global Expansion at QuickBooks, and Mushambi Mutumba is the owner of Altivex Creative Foundry.