5 Mistakes To Avoid If You Want An Easier Accounting Career

Show notes
Before I get started let me just mention to make sure you listen until the end because I have started sharing some key takeaways for each episode and some action steps you can take. As I’ve created with the one-of-a-kind Smarter Accountant Podcast Guide, I want to help you apply what you’re learning in each of these episodes.
Today is all about helping you to have an easier accounting career. As I say all the time, you worked hard to become an accountant; it’s time to make it easier for you to be one.
For a second, think about everything that went into you becoming an accountant – all the education, the training, and the hard work. Now think about this – did you ever think being an accountant was going to be as challenging as it is?
I’ll be the first to admit that I had come to a point in my career a number of years ago when I thought to myself, “Are you sure you want to be doing this for the long-term?” Just like many of you, I was getting burned out by a lot of the aspects of being an accountant and I was at a crossroads.
Do I try to figure out something else to do with my career or do I try to figure out how to have an easier accounting career? Thankfully, I’m pretty stubborn and don’t like to give up easily, so I decided to focus on how to have an easier accounting career instead of giving up what I had worked so hard for.
Fast forward to today, and I’ve never felt better about my career and the steps I’ve taken to make it much more sustainable. That’s also the reason why I wrote my book, “The Smarter Accountant,” because I wanted to teach accountants what I had learned that has made it possible for me to have an easier accounting career and a happier life.
What I’ve noticed over the years and with coaching many accountants is that there are 5 mistakes most accountants make that are creating a lot of the issues they’re having with their accounting careers. These 5 mistakes are incredibly common which can make it challenging to realize that they’re actually mistakes.
Think about it – if you’re surrounded by other accountants making the same mistakes, then you probably think it’s pretty normal. Plus, you probably don’t even see what you’re doing as a mistake by virtue of the fact that if everyone else is dealing with the same issues as you, then it must not be fixable.
I’m here to tell you that having an easier accounting career is simpler than you might think, especially when you deal with the 5 mistakes I’m going to share with you now.
Mistake #1: Assuming that Stress and Overwhelm are Par for the Course
Let’s be honest, in the world of accounting, it’s far too easy to fall into the trap of thinking stress and overwhelm are just part of the job description. After all, when we’re surrounded by other accountants who are equally stressed and overwhelmed, it’s easy to think it’s just how things are.
But have you stopped to consider what this assumption is costing you? Take a moment to see if any of these statements hit close to home:
- “The pressure to meet deadlines is overwhelming, and I worry that one mistake could have serious consequences.”
- “I used to love my job, but now it feels like a never-ending cycle of stress and anxiety.”
- “I find it difficult to focus and concentrate, which makes simple tasks take much longer than they should.”
- “I’m struggling to balance work and personal life, and it’s taking a toll on my relationships and my health.”
As I often remind my coaching clients, trying to tackle accounting work when you’re feeling stressed and overwhelmed is like attempting to drive a car with the parking brake on while trying to drive 100 mph—it doesn’t work.
Instead of accepting stress and overwhelm as just part of the job description, it’s important to recognize the significant impact these feelings have on your ability to have an easier and more sustainable career in accounting by considering the following:
- How frequently do you find yourself overwhelmed?
- Do you carry those feelings home with you?
- How does stress affect your performance and productivity?
- Do you notice yourself procrastinating more when stressed?
- How do you feel at the end of each workday or week?
- Are stress and overwhelm pushing you closer to burnout?
It’s time to start paying attention to how stress and overwhelm are affecting your work and personal life. Remember, assuming they’re just part of the job makes it harder for you to take action to address them.
You also need to address the high costs of stress and overwhelm. Since we’re accountants and we love numbers, let’s talk numbers for a moment.
Research shows that stress and overwhelm can lead to a significant decrease in productivity, with stressed individuals being up to 50% less efficient at work. Also, chronic stress has been linked to a higher risk of developing health issues such as heart disease, obesity, and depression.
In my book, “The Smarter Accountant,” I shared the story of Jim, a CPA and partner in a firm who had a wife and 5 young children. One day Jim died of a heart attack in front of his family, due to chronic stress at the age of 38.
The reason this story is personal to me is because he was my husband’s father. I am married to the 8 year old boy whose mother was widowed with 5 young children. This is why I’m so passionate about helping accountants have easier careers.
The truth is that the toll of stress and overwhelm can’t be underestimated.
The bottom line is that stress and overwhelm don’t need to be the norm in your accounting career. Recognizing this and taking steps to manage them effectively can lead to a happier, more productive, and sustainable career.
Mistake #2: Working Off A To-Do List and Not Having Effective Time Management
Here’s what I know for sure – effective time management for accountants is a critical skill that, in my experience, is not taught correctly. We’re typically given work to do, possibly a budgeted amount of time to do it in, but not taught how to actually manage our time.
That’s why it’s easy to fall into the trap of relying solely on a never-ending to-do list to manage our workload. With countless tasks and deadlines looming, it might seem like the most practical solution.
But have you ever stopped to consider what this mistake is truly costing you? Take a moment to see if any of these statements resonate with you:
- “I’m constantly busy but my to-do list never seems to get shorter.”
- “No matter how hard I work, I always seem to be behind schedule and playing catch-up.”
- “Working longer hours than I want has become normal as I try to keep up with my workload.”
- “I never seem to have enough time.”
It’s also important to understand that to-do lists are incredibly overwhelming to your brain. And do you know what doesn’t help you manage your time effectively? An overwhelmed brain!
If you’re not sure how this issue is affecting you, consider the following:
- How frequently do you feel overwhelmed by the sheer volume of your workload?
- Do you feel organized and focused throughout the day?
- Are you able to maintain a healthy work-life balance with your demanding schedule?
- Do you often find yourself sacrificing personal time to meet work deadlines?
- Do you know how to effectively calendar your time so that you guarantee you follow through?
The truth is that relying on a to-do list without effective time management strategies can make it much harder to have an easier accounting career.
It’s also important to know that research shows that one of the biggest issues with having enough time is poor time management. In fact, it’s shown that not having effective time management costs you up to 40% of your time spent on unproductive things. That’s a lot of wasted time.
Research has also shown that ineffective time management is one of the contributing factors in stress and burnout. As we struggle to keep pace with our workload and meet deadlines, our physical and mental well-being suffer as well as our job satisfaction.
The bottom line is that relying solely on a to-do list without learning effective time management strategies leads to ineffective time management. Recognizing this mistake can help you take steps towards an easier accounting career.
Mistake # 3: Prioritizing The Wrong Things
As accountants, we often have a lot to get done, and not enough time to get it done. That’s where prioritizing is indispensable.
The problem is that we find ourselves focusing on the wrong things, or have no idea what to do next to get our work done efficiently.
See if you relate to any of these:
- Getting caught up in minor tasks or distracted by email while important projects remain untouched.
- Constantly reacting to urgent but ultimately unimportant things instead of focusing on high-impact tasks.
- Juggling multiple tasks without considering a clear plan of action.
The reason you’ll want to avoid this mistake is that prioritizing the wrong things can lead to wasted time, missed deadlines, and increased stress.
If you’re not sure if issues with prioritizing is affecting you, consider the following:
- Are you spending time on tasks that truly matter, or are you getting bogged down in minutiae?
- Do you have a clear understanding of your goals and priorities, both short-term and long-term?
- Are you able to distinguish between tasks that are high versus low impact?
- Do you struggle to say “no”?
- Do you regularly reassess your priorities to ensure you’re focusing on what matters most?
The truth is that prioritizing the wrong things not only affects your productivity and efficiency but also prevents you from getting more done in less time. When you consistently prioritize low-impact tasks over high-impact ones, you waste valuable time.
In my experience, one of the biggest culprits of wasted time is not being able to handle interruptions effectively. By pulling our focus and attention away from the task at hand, we’re giving in to interruptions and prioritizing the wrong things, causing even more wasted time.
In fact, a study by the University of California, Irvine found that it takes an average of 23 minutes and 15 seconds to regain focus after being interrupted.
The truth is, we all have a limited amount of time in a day, and if we’re not careful about how we prioritize our tasks, we risk wasting valuable time.
The bottom line is that prioritizing the wrong things isn’t just about being busy; it’s about being effective. By learning how to prioritize effectively, you can make the most of your time, achieve your goals, and thrive in your accounting career.
Mistake #4: Ignoring a Lack of Confidence or Imposter Syndrome
As accountants, even though we’re smart people doing smart things, we are often surrounded by other smart people, which can sometimes lead to feelings of self-doubt or imposter syndrome. Imposter syndrome, the belief that we’ll be exposed as a fraud, despite evidence of our competence, is more common than you may have realized for accountants.
The problem is that many of us ignore these feelings, hoping they will go away on their own, or worse, we try to push through them without addressing the root cause.
If you’re not sure if you have a problem with self-doubt or imposter syndrome, see if you can relate to any of these:
- You feel like you don’t belong or that you’re not good enough, despite evidence of your qualifications and experience.
- You downplay your achievements or attribute your success to luck or external factors.
- You’re constantly seeking validation or approval from others to affirm your worth.
- You avoid opportunities for growth or advancement because you fear failure or rejection.
- You compare yourself to others and often feel inadequate.
The reason why you’ll want to avoid this mistake is because ignoring a lack of confidence or imposter syndrome can have serious consequences for your career and well-being.
If you’re unsure whether you’re dealing with a lack of confidence or imposter syndrome, consider this:
- Do you often doubt your abilities or feel like a fraud, even when others praise your work?
- Are you hesitant to speak up or share your ideas in meetings because you fear being judged or criticized?
- Do you find yourself avoiding new challenges or opportunities for fear of failure or rejection?
- Do you struggle to accept compliments or acknowledge your achievements?
- Have you ever turned down a promotion or leadership role because you didn’t feel qualified or deserving?
The truth is that ignoring a lack of confidence or imposter syndrome not only holds you back professionally but also takes a toll on your mental and emotional well-being.
Research shows that imposter syndrome can also lead to increased stress, anxiety, and burnout, as you constantly strive to prove yourself and fear being exposed as a fraud. This not only affects your mental and emotional well-being but also impacts your performance and productivity in the long run.
The bottom line is that although issues with self-confidence are normal, the good news is that you don’t have to let these feelings hold you back. By acknowledging and addressing them, you can take control of your confidence and have an easier accounting career.
Mistake #5: Not Setting and Sticking to Boundaries
As accountants, we often find ourselves juggling many responsibilities and deadlines, making it important to establish clear boundaries to protect our time and well-being. However, many of us struggle with setting and sticking to boundaries, often leading to burnout and resentment.
The problem is that without boundaries, we risk overextending ourselves, sacrificing our personal time, and ultimately, affecting our health and happiness.
To determine whether you’re making this mistake or not, see if you can relate to any of these:
- Feeling overwhelmed by the constant demands of your job and struggling to find time for yourself or your loved ones.
- Saying “yes” to every request or project, even when it means sacrificing your own needs or priorities.
- Feeling guilty or anxious when you try to set boundaries or say “no” to others.
- Ignoring warning signs of burnout, such as exhaustion, irritability, or physical symptoms, because you feel obligated to keep working.
- Allowing work to “bleed into” your personal time, whether it’s answering emails after hours or working on weekends.
The reason why you’ll want to avoid this mistake is because neglecting to set and stick to boundaries can have serious consequences for your well-being and effectiveness as an accountant. In fact, research shows that individuals who set and enforce boundaries at work experience greater job satisfaction, lower levels of stress, and higher overall well-being.
To see how this issue might be affecting you, consider this:
- Are you constantly feeling overwhelmed or stressed by the demands of your job?
- Do you struggle to find time for self-care, relaxation, or hobbies outside of work?
- Are you able to prioritize your own needs and well-being, even when it means saying “no” to others?
- Do you have clear boundaries around your working hours, personal time, and availability to clients or colleagues?
- Have you ever felt resentful or burned out because you didn’t enforce your boundaries?
The truth is that by establishing clear boundaries and sticking to them consistently, you can protect your time, energy, and mental health, ultimately leading to an easier and more fulfilling career.
In my experience, one of the biggest costs of neglecting to set and stick to boundaries is burnout. When you constantly say “yes” to every request or project, without considering your own limits or needs, you risk depleting your energy.
Research shows that burnout can lead to decreased productivity, increased absenteeism, and even physical and mental health issues, such as chronic stress, anxiety, and depression. This not only affects your performance as an accountant but also your overall well-being and quality of life.
The bottom line is that although it’s not always easy to set and stick to boundaries, the good news is that you have the power to change this pattern. By prioritizing your own needs, setting clear boundaries, and communicating them effectively with others, you can create a healthier and more sustainable approach to work and life.
Becoming a Smarter Accountant: Avoiding The 5 Mistakes
Now let me share some examples of how avoiding these 5 mistakes can make a huge difference in your accounting career.
By far, the biggest change that has made it possible for me to have an easier accounting career is dealing with the mistake of assuming that stress and overwhelm were par for the course in being an accountant and learning the secret behind eliminating stress and overwhelm.
Once I learned that stress and overwhelm are feelings that are only ever caused by our thoughts, not by the amount of work we have, the time of year, or any other factor we typically blame, I have been able to have stress-free tax seasons. Yes, you heard me correctly – stress-free tax seasons!
The best part is that I now get more done in less time because stress and overwhelm were making me much less productive and efficient.
For the second mistake – working off a to-do list and not having effective time management – I have coached and taught many accountants how to effectively manage their time. It’s one of my favorite topics to teach because no one is teaching accountants the most effective way to manage their time.
By addressing this mistake, clients have been amazed at how much more work they get done in less time and how much time they’re able to get back. They now have time for the things and the people they love.
For the third mistake – prioritizing the wrong things – I have a mini-training in The Smarter Accountant Time Management Program that teaches how to effectively prioritize. Again, this is a topic that no one teaches us properly because no one is blending brain science and accounting the way I do.
The truth is that your brain is wired to believe that everything is urgent. That’s why this mistake is so easy to make.
Once clients have gotten a better understanding of how to effectively prioritize, they’re amazed at how much easier it is to do what they do.
For the fourth mistake – ignoring a lack of confidence or imposter syndrome – this is one of the most requested topics that I work on with my coaching clients. They’re often embarrassed to admit that they struggle with self-confidence, but once they do, they’re amazed at how much better they feel about themselves.
It’s so fun to see clients go after and achieve goals that they never thought possible, all because they were willing to stop making the mistake of ignoring a lack of confidence or the fact that they were struggling with imposter syndrome.
And for the fifth and final mistake – not setting and sticking to boundaries – this has also had a huge impact for myself and my coaching clients. Being able to learn how to effectively set and stick to boundaries has made it possible for us to have the balance that most accountants are looking for.
We’re able to say “no” without feeling guilty and have designed accounting careers that are sustainable in the long run.
What I most want you to know from this episode is that even if you’re making any of these 5 mistakes, you’re not alone. There are many, many accountants who are making the same mistakes.
But thankfully, you can have an easier accounting career once you address them.
Key Takeaway and Action Item
Remember, the path to an easier accounting career starts with recognizing and addressing common mistakes.
Ask yourself, “”Which of the five common mistakes do I most often make, and what specific steps can I take to avoid it and make my accounting career easier?”
Avoid assuming that stress and overwhelm are just part of the job—manage them actively.
Don’t rely solely on a to-do list; master effective time management. Prioritize what truly matters, rather than getting bogged down by minor tasks.
Confront any lack of confidence or imposter syndrome instead of ignoring it. Lastly, set and stick to boundaries to protect your time and well-being.
By making these adjustments, you can enjoy a more balanced, productive, and fulfilling accounting career.
Well, that’s what I have for you. Thank you for joining me as I discussed the 5 mistakes to avoid if you want an easier accounting career. I hope you’ve gained valuable insights and practical tools.
If you are making any of these mistakes or are struggling with any aspect of being an accountant, you can simply go to www.thesmarteraccountant.com/calendar and book a free session with me.
I’ll share some of the quick tips that will make it easier for you to get a jump start on addressing these mistakes.
And make sure you check back each week as I help you go from being a stressed accountant to a Smarter Accountant.
Make sure you go to www.thesmarteraccountant.com and take The Smarter Accountant Quiz. You’re going to want to know if you’ve been underutilizing your accountant brain so that you have a starting point for becoming a Smarter Accountant.
Also, I would appreciate it if you could get the word out to other accountants about this podcast. The more accountants find out about it, the more we can begin to change the narrative in the accounting profession.
The truth is that you’re already smart, but this podcast will show you how to be smarter.