Episode 50: How to BE the Disruption (to avoid being disrupted) with Esther Ramdhari
In Episode 50, Sam is in the hot seat being interviewed by Esther Ramdhari, Director of BlueprintHQ. Sam and Esther discuss their observations of how accountants are thinking and feeling at the moment, and why what's happened in 2020 isn't the first signal that the industry needs to change.
Sam and Esther explore the challenges facing the industry, from burnout of staff to people leaving the industry to being disrupted by technology, and the systems, business models and beliefs that are holding firms back. Sam then shares more about the fundamental changes needed individually and collectively going forward, and why she wants accountants to not just beat disruption but to BE the disruption.
They cover some of their client success stories and what separates those firms that were prepared for the changes of 2020 from those who weren't, and the skills we need to build to take control of the conversation, as well as the one industry myth we must let go of moving into 2021 and beyond.
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Listen to an excerpt
What we cover in this episode
Sam’s observations of how accountants are thinking and feeling at the moment
Why what’s happened in 2020 isn’t the first signal that our industry needs to change
The behavioural and digital disruption that other industries have experienced and what we can learn from them
What will happen if we don’t make these changes: burnout of staff, people leaving the industry, being disrupted by technology
The reasons firms aren’t attracting and retaining Millennial staff
The problems in systems, business models and beliefs that are holding firms back
Why we need to be cultivating the next generation of accountants
The power of the fundamental changes we need, individually and as an industry
Client success stories: what separates the firms who were prepared for the changes of 2020 from those who weren’t
The importance of curiosity and consistency
Why Sam wants accountants to not just beat the disruption but BE the disruption
How to do this both internally in our systems, and externally in our messaging
An example of how Xero have succeeded in doing this through their messaging
The skills we need to build to take control of the conversation
What will block us from doing so going into 2021 and beyond
The one industry myth that Sam wants us all to let go of
Quotes
“I think that this actually hasn't just been instigated by COVID, this has been a build up over decades. And I think how people are feeling right now is a bit of the boiling frog: we've had this slow heat on us for a long period of time. And COVID, I am surprised hasn’t instigated some of the changes that I would have thought [it would] and I think a lot of this is because of how committed we are to our clients.”
“How people are thinking and feeling right now, I think we're tired, everyone's exhausted. We haven't had the break that we would have normally had in July and August. But I feel that this undercurrent, too, of ‘is there a better way? And can we change?’”
“My heart's breaking. I’m seeing a lot of people who are super unhealthy and stressed. [Accountants] have magic in what we do, and it's time to start really seeing that there's another way to do this. There is another way, it's important for us and our staff, and it's super important for our clients as well.”
“Back, when I started nearly 30 years ago, we had this real process of how people come into our industry, through doing commerce or business. And we're not seeing that, [we’re not seeing] all these people coming in, and then we're seeing people actually leaving the industry.”
“We're talking big stuff here, [big changes]. And you have to bring it down to small, small, small steps…What we need to do as an industry is hard, but if it was easy, we would have all done it. If it wasn't fundamental change that we needed, we wouldn't be having this conversation, we would have already changed. We wouldn't be on the hamster wheel, we wouldn't be exhausted and fatigued. This needs to shake up, there's no easy solution to this. If there was, we would have already done it.”
“As humans we really want [quick fixes]. I do too, I would love a quick fix…But it takes time. And we have this block, accountants probably more than most, and this is where I think I struggled with it. The idea that you need to take time to make time, it's really unnatural for us. Because if we do that, well we're going to miss out on all the hours we could have charged. And we've got to shift [that mindset]”
“It’s like any kind of change, whether it be weight loss, health, saving. You know, our whole superannuation industry is based on this, any kind of tax works based on this, it's the small things you do all the time that gets you to where you want to go. First of all, you need to know where you want to go. It is that fundamental change. And that's what's so hard.”
“I’m just fearing that if we don't make these bold statements and start learning, and getting into the conversation changes, the business model changes and in how we approach the people that we have, then we will be disrupted. And we don't want that.”
“It's the human condition. We don't want to change because it's uncomfortable. But we do want to change because we're human.”
Links mentioned
Episode 14: From Practice Owner to Business Owner with Mark Calleja
Episode 27: Collaborating + Cultivating In Demand Teams with Amanda Kennafake
Episode 30: Growing an Accounting Firm During a Pandemic with Annette Tasker
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