Delving into the mindset of an accountant

Generalisation alert!

There are millions of accountants in this world. The number seems to lie around 2m-3m but it’s hard to pin down because some don’t admit it! Anyway, I readily admit that I have not delved into the mindset of them all and my views in this article are based just on the hundreds that I have come across. You may not recognise yourself in some of the words that follow….that is great!

I refer to mindset a lot in my work. I believe that changing the mindset of the leaders of accounting firms is fundamental if we are to change the mindset of their team and, subsequently, change the mindset of their clients and, most importantly, deliver greater value.

Changing mindsets leads to changed outcomes.

That is the point.

What is the accountant’s mindset though?

Why does it need to change and what should it be?

Mindset is a person’s established attitudes towards life. Our mindset shapes what we say and do and how we do it and, as a consequence, it goes a long way in influencing our outcomes. It can be a reflected experience though in that our experiences can shape our mindset which shapes our experiences and on we go in our own self-fulfilling world.

To instigate change, I do an exercise where I ask  accountants to describe their firm. If I were to do this exercise but on the accountant themselves, the list, in general, would probably start by looking like this:-

1.    Nice

2.    Trustworthy

3.    Honest

4.    Professional

5.    Caring

These are our human characteristics, the reasons why, as accountants, we want to do a good job for our clients and stand by them.

The list would then go on:-

6.    Cautious

7.    Cynical

8.    Negative

9.    Risk-averse

10. Immersed in the numbers

These tend to be our work characteristics, they are how we are trained to be by a profession that looks for what could go wrong and not what might go right.

Then, to finish off the list:-

11. Time-pressured

12. Frustrated

13. Stressed

14. Under-valued

15. Insecure

These are the outcomes of those work characteristics. If we are going to change these outcomes then it is those limiting work characteristics that we are going to have to address.

Moving from cautious, cynical, negative, risk averse and immersed in the numbers to more entrepreneurial, open-minded, positive, embracing and creative isn’t something achieved by the flick of a switch. We are talking about changing embedded habits, thinking and expectations. Even those accountants who recognise the need to change or have a desire to be something more positive struggle to gain any traction.

It can be done though.

There are three important steps to take:

Step 1:            Commit to change

                        Even if you don’t know how, make it your goal

Step 2:            Decide what you want change to look like

What sort of accountant do you want to be?

What do you want to be known for?

What sort of firm do you want to be? (human/digital/boutique)

What do you want to achieve? (for you/team/clients)

Step 3:            Accept that you can’t do it on your own

                        When setting out on a journey we all need:

·       a guide to help light the way

·       a coach to focus our improvement

·       a mentor to support us

It’s a plug, of course, but no less important.

Change does not come through a piece of software, a book or a new recruit. It comes through addressing the barriers within ourselves.

Committing to change means committing to yourself first.

Take the first step and commit to change.