Today we’re diving into a topic that often gets overlooked but has a profound impact on accountants: relationships.  How are your relationships right now?  With your family, your spouse, or your kids?  How’s your relationships with your co-workers or your clients?

Whether you’re a seasoned accounting professional, a fresh-faced graduate starting your career, or even an entrepreneur managing your own practice, relationships are an integral part of your journey. From clients and colleagues to partners and loved ones, the connections we form can significantly influence our overall well-being and success.

As accountants, we are often hyper-focused on numbers, deadlines, and deliverables.  But have you ever stopped to consider how your relationships affect your ability to perform at your best?

The truth is, relationships play a crucial role in our professional lives.  The state of our relationships impact our stress levels, productivity, and even our health.

Think about it for a moment. Have you ever had a difficult client that made you dread picking up the phone or responding to their emails? Or perhaps you’ve encountered conflicts with a team member or employee that affected your ability to focus at work.  

These relationship challenges can not only drain your energy but also impact your ability to excel in your role as an accountant.

But it’s not just about work-related relationships. Our personal connections, such as those with our spouses, children, or close friends, can also have a profound impact on our overall well-being. After all, life isn’t just about spreadsheets and balance sheets—it’s about finding fulfillment, happiness, and genuine connection.

The good news is that addressing relationship issues and improving the way we relate to others is a skill that can be learned and applied. By becoming a Smarter Accountant, you can take control of your relationships and create a positive ripple effect in both your professional and personal life.

Throughout this episode I’m going to explore practical strategies and insights that will help you navigate the intricacies of relationships as an accountant. I’ll explain the power of your thoughts in shaping your relationships, discuss how to let go of control and expectations, and empower you to become the driving force behind positive change.

So, whether you’re seeking a harmonious work environment, stronger client relationships, or a more fulfilling personal life, you’re in the right place. Get ready to dive deep into the world of relationships as a Smarter Accountant, and let’s unlock the secrets to transforming your professional and personal connections.

Rob’s story: Relationship issues

To shed light on this topic, I want to share the story of Rob from my book, “The Smarter Accountant.”  Rob was a CPA who had a deep passion for his work at a small accounting firm. However, despite his professional success, Rob found himself grappling with various relationships in his life.

It seemed that no matter where Rob turned, there was always some sort of struggle with the people around him. Some of his clients grew frustrated with him because he couldn’t always respond to their emails as quickly as they desired. 

His business partner became a source of annoyance due to disagreements over billable hours. Even his wife seemed to underappreciate the hard work he put in, leaving him feeling unnoticed and unacknowledged.

To make matters worse, Rob carried a sense of longing for a closer connection with one of his brothers. They had been inseparable during their upbringing, but over the years, their relationship had gradually drifted apart.

He also felt bad about the contentious relationship he had had with his dad growing up. His dad was a decent provider but was never really there for him in the way that Rob tried to be with his children.

Although his dad passed away years ago, he couldn’t help but wonder if things could have been different between them. He wished his dad had been different and that they could have been closer.

Rob’s story is not unique. Many accountants often find themselves wrestling with relationships, feeling frustrated, unfulfilled, and uncertain about how to bridge the gaps.

The truth about relationships

Whether you’re an accounting employee, an entrepreneur, an introvert, or an extrovert, relationships are an inherent part of life. They form the connections we have with others, and believe it or not, they play a crucial role in our role as accountants.  

Relationships not only bring us joy and pleasure, but they also have a profound impact on our long-term health. To be at your best, both professionally and personally, your relationships matter more than you might realize.

On the one hand, a good relationship can trigger our brains to release feel-good hormones like dopamine, which make us feel happy and satisfied. On the other hand, they can also release stress-producing hormones like cortisol, which can lead to anxiety and tension.

The truth is that, as humans, we are hardwired to form relationships with others. This instinctual need for connection and belonging has been ingrained in us throughout our evolution. 

From primitive cave dwellers to modern-day professionals, we have always relied on relationships to increase our chances of survival, learn from each other, and support one another for the greater good. In today’s world, relationships remain just as vital. 

Whether it’s a personal relationship with a partner, child, or friend, or a professional relationship with a colleague or client, chances are you have a multitude of relationships in your life. And it’s highly likely that not all of them are exactly as you would like them to be.

You may want a less stressful and more connected, supportive, and loving relationship with your partner or spouse. Or perhaps you wish for a more harmonious and collaborative relationship with a particular client or colleague. 

Whatever the case may be, ignoring relationship issues doesn’t make them magically disappear.

The impact on your time management

Here’s something interesting to consider: as accountants, we often prioritize improving our time management skills, striving to optimize our calendars and work processes. We meticulously plan our tasks, allocate time slots, and employ various techniques to increase our productivity.

However, what many accountants fail to recognize is the significant influence our relationships have on our ability to accomplish more in less time.

Think about it for a moment. Have you ever found yourself caught up in a conflict with a colleague or client? Maybe there was a breakdown in communication, differing expectations, or unresolved issues. 

These relationship challenges can consume a substantial amount of your time and energy. Instead of focusing on the tasks at hand, you end up dealing with tension, misunderstandings, and even arguments, which only further detract from your productivity.

On the other hand, consider the impact of positive relationships. When you have strong connections with your colleagues, clients, and even your superiors, it creates an environment of trust, support, and collaboration. 

These relationships foster effective communication, efficient teamwork, and a shared sense of purpose. As a result, you can accomplish tasks more seamlessly, reducing time spent on unnecessary back-and-forth or misunderstandings.

The truth is, the quality of your relationships can either fuel or hinder your ability to work efficiently. When you have positive relationships, characterized by open communication, mutual respect, and a shared understanding of expectations, it creates a conducive environment for collaboration and productivity. 

Unfortunately, when your relationships are strained, marked by tension, disagreements, or unresolved issues, it can lead to a significant drain on your productivity. You may find yourself caught up in unnecessary conflicts or spending excessive time trying to manage or navigate difficult relationships. 

This not only impacts your ability to complete tasks promptly but also adds unnecessary stress and mental burden, further hindering your overall performance.

So, as a Smarter Accountant, it’s crucial to recognize the far-reaching impact of your relationships on your ability to accomplish more in less time. While time management skills and optimized calendars are important, they alone cannot guarantee optimal productivity. 

Your brain’s role in transforming your relationships

Now, let’s dive into a powerful concept that can transform your relationships: understanding the incredible influence of thoughts. It may sound simple, but the truth is that our brains shape our relationships.

Consider this: every relationship you have, whether it’s with a person, a place, or even a thing, is based on the thoughts you have about that person, place, or thing. Your thoughts create the foundation of your relationships. 

They form the lens through which you perceive and interact with others, influencing the emotions you experience and the actions you take.

For example, imagine you have a co-worker who consistently challenges your ideas during team meetings. Your thoughts about this individual will shape your feelings and subsequent actions. 

If you perceive their challenges as a personal attack, you might feel defensive or irritated, which may lead to strained interactions and unproductive dynamics. However, if you view their challenges as an opportunity for growth and collaboration, you’ll likely approach the situation with openness and a willingness to find common ground.

The key takeaway here is that your thoughts about someone or something directly influence the quality and dynamics of your relationship. This realization is immensely empowering because it means that you have the ability to shape and improve your relationships simply by shifting your thoughts.

It’s important to note that while we often attribute our feelings to the actions or words of others, the truth is that our emotions are generated by our thoughts. The only thing that ever causes you to have a feeling is a thought, not a person or a situation.

We tend to believe that someone else has the power to make us happy, angry, or upset. But in reality, it is our interpretation and perception of their actions that determine how we feel.

This understanding flips the script on traditional relationship dynamics. Instead of relying on external factors or expecting others to change in order to feel better, we can take control of our own emotional well-being by intentionally choosing our thoughts.

Now, you might be thinking, “Does this mean I have to disregard someone’s actions and pretend everything is fine?” Absolutely not. 

Acknowledging and addressing behavior that is incompatible with your values or detrimental to the relationship is essential. However, it’s important to recognize that your thoughts about the situation will heavily influence how you approach and navigate these conversations.

The power of thoughts in relationships extends beyond just our interactions with others. It also encompasses the relationship we have with ourselves. 

How we think about and perceive ourselves influences the quality of our relationships with others. When we cultivate self-compassion, embrace our strengths, and work on personal growth, it positively impacts how we engage with those around us.

The incredible part is that you don’t need anyone else to change in order to improve your relationships. It all begins with you and the thoughts you choose to entertain. 

By taking responsibility for your thoughts, you gain the freedom to shape your relationships in a way that aligns with your values and desires.

The concept of “The Manual”

As I mentioned before, your relationships affect more of your personal and professional life than you might realize. I can tell you from my experience, and the experience of my coaching clients, that putting the effort into understanding how to improve your relationships will improve so many aspects of your life.

When I work with clients on the topic of relationships, the tool I teach them is “the Manual”. Let me briefly explain this concept. Just as we have instruction manuals for various things we own, we also have instruction manuals that we’ve unintentionally created for the people in our lives as well.

We have these unwritten manuals in our brains describing what people should and shouldn’t do because we believe that, if they followed our manual, then we could feel a certain way. Honestly, there’s no shame in having manuals for people because we all have them. 

Here are some examples and reasons why we have manuals for others:

Spouse—your instruction manual for your spouse might state that they remember significant dates in your relationship. The reason you have this in your instruction manual is that you believe that, if they did remember a significant date, you would think “He loves me” and you would feel love. But, on the flip side, if he doesn’t remember a significant date, you might think “He doesn’t care about our relationship” and feel unloved. 

Boss—your instruction manual for your boss might state that they praise you when you go above and beyond at work. The reason you have this in your instruction manual is that you believe that, if they praise you, then you would think “She really appreciates me” and you would feel appreciated. But, on the flip side, if she doesn’t praise you, you might think “Maybe I’m not doing as good of a job as I thought” and feel unappreciated.

Children—your instruction manual for your children might include them always making their bed every day. The reason you have this in your instruction manual is that you believe that, if they made their beds every day, you would think “I’m doing a good job raising them” and feel proud. But, on the flip side, if they don’t make their beds every day, you might think, “I’m not doing a good job” and feel discouraged. 

In each example, you have a thought about them, their actions or inactions, and you feel certain emotions. But, when you base your feelings on whether people follow your manual or not, you are at the mercy of everyone else and are likely to become quite controlling.

The truth is that the only reason you want someone to follow your manual is so that you can feel a certain way. But thankfully, the great news is that you can throw away your instruction manuals because the only thing that needs to change is your thinking—and you are 100% in control of that!

You don’t need anyone to do or not do something to feel a certain way because your feelings were only ever created by your thoughts, not by what other people do or don’t do. That is the best news I can give you.

When you take responsibility for meeting your own emotional needs, you can let go of the need to change what others think, say, and do. It doesn’t mean you can’t or don’t make requests of others but, when you throw away your manual, your feelings aren’t hurt when they don’t honor your request.

Becoming a Smarter Accountant: Improving your relationships

As a Smarter Accountant, you hold the power to transform your relationships. By consciously examining and managing your thoughts, you can create a positive ripple effect that elevates not only your interactions but also your overall well-being.

The secret to taking control of your relationships and cultivating the connections you desire lies in understanding that you are the creator of your relationships, and you have the power to shape them according to your vision.

It’s common to believe that our relationships are determined by external factors—how others behave, what they say, or the circumstances we find ourselves in. However, the truth is that our relationships are created within our own minds. 

The thoughts we have about others, the expectations we hold, and the beliefs we carry influence how we perceive and experience our relationships.

This realization is incredibly liberating because it means that you don’t need to wait for someone else to change in order to improve your relationships. You have the ability to initiate the change within yourself, starting with your thoughts and perspectives.

Taking control of your relationships begins with self-awareness. It’s about examining the narratives and beliefs you hold about others and challenging them if they no longer serve you. 

Ask yourself: Are my thoughts and assumptions about this person accurate? Are they helping or hindering the relationship? By shining a light on your thought patterns, you can uncover hidden biases or limiting beliefs that may be negatively impacting your connections.

Once you’ve identified unhelpful thought patterns, it’s time to intentionally choose new perspectives. This doesn’t mean denying reality or pretending that challenges don’t exist. 

Instead, it involves adopting a more compassionate, open-minded, and understanding approach. It means viewing situations from different angles, considering alternative explanations, and giving others the benefit of the doubt.

Remember, taking control of your relationships doesn’t mean trying to control or change others. It’s about taking ownership of your own thoughts, emotions, and actions. 

As a Smarter Accountant, you can apply these principles not only to your professional relationships but also to your personal connections. By adopting a proactive approach and cultivating self-awareness, you can transform even the most challenging relationships into opportunities for growth and connection.

If you have difficulty with some relationships in your life, let’s talk.  Schedule a quick, free coaching session with me and I’ll help you understand what to do.

Sweeping relationship issues under the rug, especially as an accountant, isn’t helpful or useful.   I can teach you how to improve any relationship.  

Just go to www.thesmarteraccountant.com/calendar and book a free session with me.

That’s what I have for you, but 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.

Today we’re going to talk about an uncomfortable topic – dealing with criticism.  Have you ever felt hurt or demotivated after receiving criticism at work or in your personal life?  Do you struggle with knowing how to respond to criticism without getting defensive or feeling attacked?

In today’s episode, we’re diving into the world of criticism and uncovering the secret to handling feedback in a more constructive and empowering way.

Criticism is an unavoidable part of life, especially in professional fields like accounting. Whether you’re on the receiving end of a formal review or providing feedback to others, the process can often be uncomfortable and awkward. 

The impact of criticism goes beyond mere words. It can leave us feeling vulnerable, drained, and questioning our abilities.

But here’s the good news: understanding the intricacies of our brain’s response to criticism can help us navigate these challenging situations with greater resilience and growth. By unraveling the neural pathways and thought patterns associated with criticism, we can retrain our brain to respond in a more positive and productive manner.

In this episode, we’ll explore how our brain processes criticism, the impact of different types of feedback, and the subjective nature of interpreting others’ words. We’ll also delve into the power of our past experiences and self-image on our ability to handle criticism effectively.

We’ll also uncover a powerful distinction between criticism and feedback, and how it empowers us to take control of how we interpret others’ words. Finally, we’ll provide practical strategies for managing criticism, developing a growth mindset, and transforming feedback into an opportunity for personal and professional development.

If you’ve ever found yourself struggling with criticism, feeling defensive, or letting negative feedback consume your thoughts, then this episode is for you. By the end, you’ll be equipped with a deeper understanding of the psychology behind criticism and the tools to navigate these situations with confidence and self-assurance.

Get ready to become a Smarter Accountant who knows how to handle criticism with grace and use it as a stepping stone to even greater success.

Mark’s story: Struggling with criticism

To shed light on this topic, I want to share the story of Mark from my book, “The Smarter Accountant.”  Mark was a financial analyst at a large healthcare organization and despite his dedication and hard work, Mark struggled with receiving criticism throughout his life, often allowing it to linger and affect him deeply. 

He was due for his mid-year review and told his girlfriend that he knew that reviews were a necessary part of the job, but he couldn’t help feeling horrible afterwards.

Ever since Mark was younger, he had had a hard time receiving criticism, often being upset for weeks due to a remark a teacher made on his report card or something a sports coach said to him. He struggled with moving past other people’s feedback and critiques, often feeling a good deal of shame.  

He knew he was intelligent and a hard worker, but he dreaded hearing criticism, especially from his employer. Sometimes, he became so worried about negative feedback that he became a people pleaser, trying to control other people’s opinions of him.

After he received this year’s mid-year review, all he could focus on was the one or two “needs improvement” ratings and not on all the “meeting or exceeding expectations” ones. He felt inadequate after his review and spent a lot of time trying to figure out what he had done wrong.

He could see how much it was distracting him and how it was affecting how he showed up around his boss, but he couldn’t stop. A trusted colleague tried to help him deal with the mid-year review feedback, but he wasn’t getting through to Mark. 

The brain’s response to criticism

Can you relate to Mark’s story?  I know I definitely can.  Criticism is a part of life, but it’s not fun.  The truth is that our brains play a big role in how we react to criticism, and understanding this can help us manage our emotions and respond in a more productive way. 

It’s important to understand that when we receive criticism, our brains go into overdrive. When we receive criticism, our lower, primitive brain that I refer to as The Toddler, is activated, triggering a fight-or-flight response that can cause us to feel threatened, defensive, or even attacked.

This automatic response has been hardwired in us since humans lived in caves.  If you think about it, it makes sense because if our brain interpreted something as a criticism and we were ostracized from our tribe, it could be a matter of life or death.

In other words, our safety depended on being accepted by the tribe.  If we were criticized, we could be left on our own and possibly die.

It’s also important to understand that our brains have millions of neural pathways that make our reactions seem like they’re not within our control, especially when it comes to dealing with criticism.  Neural pathways are the connections formed between neurons in our brains that allow information to be transmitted and processed. 

They are like highways for information that become stronger and more efficient with repeated use.  The way I like to explain it is that neural pathways start out as overgrown, impassible jungle paths, but with repetitive use, they are eventually cleared to become super highways.

While our lower, primitive brain wants to jump right into a fight-or-flight response, we also have the higher part of our brain, that I refer to as The Supervising Parent.  This part of the brain is only present in humans and is responsible for executive functions, such as decision-making, problem-solving, and impulse control. 

When we receive criticism, the higher part of our brain is activated as we try to process the information and figure out what to do next.  Thankfully, this part of our brain is more rational and less reactionary.

The interesting thing about criticism is that not all criticism is created equal, and the type of criticism we receive can have a big impact on our brain’s response. For example, constructive criticism, which is intended to help us improve, is often easier to process than destructive criticism, which is intended to hurt or undermine us. 

Studies have shown that constructive criticism can actually activate the reward centers in the brain, leading to feelings of pleasure and satisfaction.  Depending on certain factors, constructive criticism can feel helpful instead of harmful.

On the other hand, destructive criticism can activate the brain’s stress response and lead to negative emotions such as anger, anxiety, and depression. In fact, research has shown that even mild criticism can activate the same neural pathways as physical pain.

Subjectivity and past experiences

Another factor that can impact our brain’s response to criticism is the source of the criticism. Criticism from someone we respect, such as a boss or mentor, may be more easily accepted than criticism from someone we don’t know or don’t respect. 

For example, your friend could make the same comment as your mother-in-law, but you might see it as helpful from your friend and harsh criticism from your mother-in-law.  The key is understanding that the way your brain interprets other people’s words is completely subjective. 

Also, our past experiences with criticism can form strong neural pathways, dictating how we respond to criticism in the present moment.  In other words, the way we process and respond to criticism can also be influenced by our past experiences with feedback. 

For example, if we have had negative experiences with criticism in the past, our brains may be more likely to respond negatively to future feedback, even if it is delivered in a constructive and supportive way.

Similarly, research has found that people who have a more positive self-image tend to respond more positively to criticism, while those with a more negative self-image may experience more negative emotions in response to feedback.

Retraining your brain’s response

Despite the fact that our brains play such a crucial role in our response to criticism, it is important to remember that our brains are not fixed and can be easily trained to deal with criticism in a more constructive way. By becoming more aware of our thought patterns and emotional responses to criticism, we can begin to retrain our brains to respond in more positive and productive ways.

Let’s face it, in this day and age of social media, product reviews, and Yelp, you are probably asked many times for feedback and reviews. You may also use other people’s feedback and reviews before you hire someone or purchase something.

For example, before I go anywhere on vacation, I always check Trip Advisor and read the reviews and comments about the places and activities I’m planning on visiting. I also scour the reviews of a book I’m interested in reading to get a feel for whether the book is worth my time, and I will check the reviews on OpenTable before I try a new restaurant.

Distinguishing criticism from feedback

So if we live at a time when reviews and feedback are so common, then why aren’t we better at giving and receiving feedback and criticism? To answer that, let’s distinguish between the two by first looking at the dictionary definitions:

Criticize (dictionary)—to find fault; judge unfavorably or harshly; to make judgments as to merits and faults

Feedback (dictionary)—a reaction or response to a particular process or activity

The important thing to notice is that the dictionary definition of feedback isn’t about a person, it’s about the actions or process the person was involved in. Although both involve an evaluation, criticism uses the words “judge” and “fault”, making it seem much more personal to the giver or receiver.

Now that we are clear on the dictionary definitions, I want to give you a different perspective that a fellow coach shared:

Criticize (new perspective)—the action one takes which is caused by negative emotions; action taken with the intention to release negative emotions in order to feel better

Feedback (new perspective)—the action one takes in order to help or convey information; action taken from a neutral place with the intention of informing

As you can see with the new perspective of the difference between criticism and feedback, it all comes down to intention and how you or others were feeling before taking action. Whether you are on the receiving or giving end, determining whether it’s criticism or feedback will always be based on the intention behind it, and the good news is that it’s up to you to decide.

Why is that good news?  Because the words someone says about you are neutral and you get to decide whether you want to think that they are feedback or criticism. You get to decide whether the person was feeling negative or neutral, even if you can’t be sure.

Just knowing this delineation is an important step to learning the subtle art of receiving criticism. It could mean the difference between a powerful opportunity for growth and a frustrating game of shame.

Becoming a Smarter Accountant – the art of handling criticism

While criticism can often feel like a personal attack, triggering our fight-or-flight response and leading to defensive reactions, it’s important to recognize that our brain’s automatic response is not necessarily helpful or productive. The key lies in consciously managing our thoughts and emotions to respond in a more constructive way.

One crucial step in handling criticism is recognizing our own emotional triggers and thought patterns. By developing awareness, we can identify when our lower brain, the Toddler, is driving our reactions. 

This awareness allows us to pause, take a deep breath, and engage our higher brain, the Supervising Parent, which is responsible for executive functions like decision-making and impulse control.

Next, reframing the criticism as an opportunity for learning and growth is a powerful mindset shift. Instead of viewing feedback as a personal attack, we can choose to see it as valuable information that can help us improve and reach our full potential. 

Embracing a growth mindset allows us to see criticism as a stepping stone towards progress rather than a reflection of our worth.

It’s also essential to break free from negative self-talk and rumination. Our brains have a tendency to replay criticism over and over again, fueling feelings of shame, inadequacy, or low self-esteem. 

Instead, we can consciously redirect our thoughts towards more positive and constructive narratives. Remind yourself of your strengths, accomplishments, and the progress you’ve made so far.

In addition, seeking opportunities for improvement based on the feedback received can turn criticism into a catalyst for growth. Embrace a proactive approach by reflecting on the feedback, identifying specific actions you can take to address the areas of improvement, and setting goals to enhance your skills or knowledge. 

By actively engaging in your own development, you regain control and transform criticism into a driving force for self-improvement.

Lastly, remember that you have the power to interpret others’ words. Recognize that criticism is subjective, and it’s up to you to decide how you want to think about it. 

Consider the intention behind the feedback and choose a perspective that serves your growth and well-being. By taking ownership of your interpretation, you reclaim the power to shape your emotional response and subsequent actions.

Handling criticism is an art that can be mastered with practice and self-awareness. By consciously managing your thoughts, reframing feedback, seeking growth opportunities, and taking ownership of your interpretation, you can transform criticism into a valuable tool for personal and professional development.

As a Smarter Accountant, you can have the awareness of what your lower, Toddler brain is making someone’s words mean, and then decide on purpose how you want to think about it to be in control of how you feel, what you do or don’t do, and your results.  You determine the best way to interpret someone’s words, making it much easier to handle criticism.

The truth is that criticism can feel like a personal attack, activating the same parts of our brain that respond to physical threats, leading to feelings of defensiveness, anger, or anxiety. But by recognizing our automatic negative thought patterns and consciously choosing to approach criticism with a growth mindset, we can retrain our brain to respond differently.

The secret to dealing with criticism is to become aware of what your brain is making someone else’s words mean and choosing a more helpful and useful way to interpret those words.  When you learn how to manage your brain, dealing with criticism is much less painful.

If you have difficulty dealing with criticism, let’s talk.  Schedule a quick, free coaching session with me and I’ll help you understand what to do.

While criticism isn’t pleasant, there are things you can do to make it much easier.  I can teach you a simple formula for how to deal with criticism.

Just go to www.thesmarteraccountant.com/calendar and book a free session with me.

That’s what I have for you, but 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.

Welcome back to the Smarter Accountant Podcast. As an accountant, you most likely believe you know how to handle other people’s money and finances. But let me ask you a few questions:

• How do you feel about money? 
• What is your relationship with your money?
• Do you know how to money (yes as a verb)?

Most of us, myself included, have a “money belief lineage”—a set of beliefs about money that we’re taught from an early age. Those beliefs are often passed down from generation to generation with tweaks and adjustments along the way.

For example, your great-grandmother may have stayed home to raise children and had the belief that there’s never enough money—one that she passed on to her children; your grandfather may have had beliefs that he inherited from his parents about how money “doesn’t grow on trees”; your mother and father probably inherited their parents’ beliefs about what it takes to make a decent living, and passed those beliefs on to you.

Think for a second about your own money belief lineage.  What were you taught about money growing up?

The truth is that we’ve all been taught various things about money, from various people, which have culminated in our own set of beliefs about money. Some of them might be helpful but, if you’ve ever thought to yourself, “If I’m so smart, why am I not making the money I want to make?” you probably have some unhelpful beliefs about money.

I also want to point out that, if you are a parent, it’s important to address your money beliefs so that you don’t continue an unhelpful “money belief lineage” with them as well. If money beliefs have been passed down to you, there’s a very good chance that you are also passing those beliefs on to your children.

Your relationship with money

As accountants, we’re surrounded by other people’s money and helping companies and individuals manage their finances.  But just because we deal with money doesn’t mean we have a great relationship with money.

The first thing we need to know when it comes to the truth about money is that, as we have relationships with the people, places, and things in our life, we also have a relationship with money. The reason it’s important to see money in this way, as something we have a relationship with, is that that relationship probably needs some improvement so that we can have the financial success we want.

The key is understanding that a relationship with anything or anyone is based on our thoughts about the thing or the person.  Thankfully, mastering our mind will show us that we have much more control over money and financial success..

When I talk about having a relationship with money, I am referring to the thoughts, beliefs, and emotions we hold about money. These internal factors influence how we interact with money, make financial decisions, and perceive our financial situation. Just like in any other relationship, the quality of our thoughts and beliefs about money can impact the outcomes we experience.

By understanding that our relationship with money is based on our thoughts, we gain a powerful insight. It means that we have the ability to shape and improve that relationship through the mastery of our mind. This realization puts us in the driver’s seat when it comes to our financial success.

It allows us to identify and challenge any unhelpful or limiting beliefs we may have developed over time. Through awareness, we can explore the origins of these beliefs and consciously choose new, empowering beliefs that align with our financial goals and aspirations.

When we recognize that our relationship with money is within our control, we become empowered to make intentional choices and take actions that align with our financial goals. 

Your brain’s role in making money

So what does our brain have to do with making the money we want? Everything! The reason why making more money can seem so difficult and daunting is that there are so many people’s opinions about what we should be doing—invest here, move there, sell this, buy that—it’s no wonder we can’t figure out what to do.

I’m here to make it super simple for you—focus on your brain.

When it comes to money, we need to understand what we are thinking when we are making money, and also what we are thinking when you aren’t.  The key is that our thoughts and beliefs about money are going to fuel the action we take (or don’t take), which will ultimately create our money results.

As a Smarter Accountant, you will understand that the money you currently have is simply a result that your brain produced by virtue of your thoughts, feelings, and actions. So, if you want to change the result, you have to first get clear on the thoughts and beliefs that created the current result, and then choose more empowering thoughts and beliefs that will create the result you want.

For example, if you currently make $100,000 a year but would like to make $200,000, your current beliefs that created the $100,000 are not the beliefs that will create $200,000. You must become aware of what you are currently thinking and believing about money, improve your relationship with money (i.e. your thoughts about money), and use the higher, prefrontal cortex part of your brain, The Supervising Parent, to manage your lower, Toddler brain’s tendency to think $100,000-producing thoughts.  

In other words, there are thoughts that created the actions that led to you making $100,000 and those thoughts will continue creating $!00,000 unless you intentionally choose more empowering thoughts.  The key here is that mastering our mind takes awareness and intentionality.

The “time plus effort” perception

In addition, as accountants, we also tend to have a “time plus effort” perception when it comes to making money, leading many to have huge issues with time management and burnout. What I encourage you to do is shift your beliefs about needing more time and effort to make more money, and instead switch to a belief that value is what creates more money.

The truth is that we do not need to spend more time working or put in more effort to make more money. That is just a belief that you’ve probably never considered challenging before.

Instead, consider this—what if the more value we provide, whether it’s to our boss, our company, or our clients, and the more willing we are to receive money—the more money we’ll make? What if, instead of equating time with money, we instead equate value with more money? What would be possible then?

As accountants, we often find ourselves caught in the belief that time equals money. We measure our worth based on the hours we invest in our work, assuming that the more time we dedicate, the more money we will make. 

However, it’s time to challenge this conventional wisdom and explore a paradigm shift: What if time doesn’t equal money? What if value equals money instead?

Imagine the possibilities that unfold when we prioritize value over time. By shifting our focus from the clock to the impact we create, we can revolutionize our approach to making money. 

It’s not about working harder or longer; it’s about delivering exceptional value that drives financial growth. And where does exceptional value come from?  Your brain.

You have to master your mind in order to master your money.  So, how can you make this shift? 

Making a shift with brain management

Start by examining your beliefs about money, your confidence, and your current activities.  Then ask yourself: How could I think differently about money?  How could I think differently about myself?  What value could I offer that I’m not offering now? 

Take a moment to reflect on your skill set, expertise, and unique strengths. Consider how you can leverage these qualities to provide additional value to your clients, your organization, or even your own business.

Here are a few strategies to help you embrace the value-driven mindset and unlock new opportunities for financial success:

Expand your knowledge and expertise:  While most accountants would suggest staying updated with the latest developments in your field and investing in continuous learning, I’m going to suggest something different. Let’s face it, as accountants, we have plenty of knowledge available.  What no one is teaching is how to manage your brain so that you can manage everything else.  

If you want to take steps to increase your value, improve your financial success, and decrease the amount of time you spend working, you need to first understand how to manage your brain.  The truth is that you are in business with your brain, so you have to make sure you’re managing it properly.

Offer strategic insights and guidance: Brain management plays a crucial role in offering strategic insights and guidance as an accountant. When I talk about brain management, I’m referring to understanding and harnessing the power of our thoughts, beliefs, and cognitive processes to drive positive outcomes.

As accountants, it’s easy to get caught up in the routine of number crunching and focusing solely on the technical aspects of our work. However, to become a strategic partner, we need to expand our perspective and tap into our cognitive abilities to provide valuable insights beyond the numbers.

Ultimately, becoming a Smarter Accountant involves brain management and empowers us to leverage our cognitive abilities, think critically, tap into our creativity, and communicate effectively. These skills enable us to provide valuable insights on financial trends, cost-saving strategies, and growth opportunities that can positively impact our clients’ bottom line.

Streamline processes and improve efficiency: Brain management plays a significant role in streamlining processes and improving efficiency as an accountant. It involves harnessing the power of our thoughts, cognitive abilities, and mindset to identify opportunities for optimization and implement innovative solutions. 

By leveraging brain management techniques, we can contribute to saving time, reducing costs, and adding value to our clients’ or organization’s operations. Brain management helps us  optimize efficiency by leveraging analytical thinking, problem-solving mindset, continuous learning, change management skills, collaboration, communication, and innovative thinking. 

By applying these cognitive abilities and techniques, we can identify areas for improvement, introduce automation or innovative tools, and streamline financial processes. 

Provide proactive financial planning and forecasting: Brain management plays a crucial role in providing proactive financial planning and forecasting services as an accountant. It involves utilizing cognitive abilities, critical thinking, and strategic mindset to help clients anticipate future challenges and opportunities. 

By applying brain management techniques, we can demonstrate our value as forward-thinking professionals and provide valuable insights for informed decision-making.  Brain management enables us to provide proactive financial planning and forecasting services by utilizing strategic thinking, data analysis, scenario planning, risk assessment, effective communication, and continuous learning.

Develop strong relationships and foster trust: Brain management is important in developing strong relationships and fostering trust as an accountant. It involves utilizing cognitive abilities, emotional intelligence, and effective communication to build connections with clients and establish a foundation of trust and reliability. 

By applying brain management techniques, we can enhance the value we bring to the table and strengthen our client relationships.  Brain management allows us to develop strong relationships and foster trust by practicing empathy, active listening, effective communication, transparency, reliability, problem-solving, proactive support, continuous improvement, and learning. 

By utilizing our cognitive abilities and emotional intelligence, we can build connections with clients, understand their needs, and demonstrate our commitment to delivering personalized and valuable financial services. 

Explore new service offerings:  Brain management helps us to explore new service offering. It involves utilizing cognitive abilities, creativity, and strategic thinking to evaluate existing services and identify opportunities for expansion. 

By applying brain management techniques, we can make informed decisions, adapt to market demands, and effectively cater to evolving client needs.  Brain management enables us to explore new service offerings by engaging in strategic thinking, stimulating creativity, conducting market research, assessing and mitigating risks, incorporating client feedback, embracing continuous learning, and effectively managing resources.  

Remember, embracing value as the driving force behind financial success requires a mindset shift. It’s about recognizing that your worth is not solely determined by the hours you put in but by the impact you create and becoming a Smarter Accountant. 

Becoming a Smarter Accountant – Money mindset mastery

Becoming a Smarter Accountant is about transforming your mindset and embracing a new perspective that will lead to professional growth, increased opportunities, and a competitive edge in the accounting industry.

In my book, The Smarter Accountant, I told the story of Danielle who was a CPA, a wife, and a mother of two teenage daughters. She had a good job in a medium-sized public accounting firm and had received the standard pay raises each year.

Although Danielle’s husband was also a hard worker, they never seemed to be able to make ends meet. Even from the beginning of their marriage, money was a struggle for them, often causing arguments and creating problems in their relationship.

The truth was that Danielle grew up in a low- to middle-class neighborhood and watched her parents struggle to make ends meet as well. Her parents also often fought about money issues, which she and her younger brother witnessed.

Part of the reason Danielle chose an accounting career was that she wanted to have a better understanding of finances and not repeat the same mistakes her parents had made. She wanted to not only understand how to account for other people’s money, but also to earn a good living doing it.

The latest issue was that she and her husband had accumulated $50,000 in credit card debt, in addition to their mortgage and car loans. It seemed like they would never get out from under the pile of debt or be able to help their children pay for college.

On top of being frustrated by their debt, Danielle was also embarrassed by it. She felt a lot of shame from the fact that she was a CPA with a good job, yet she just couldn’t get a handle on her money. 

Because both she and her husband were frustrated and embarrassed, they often looked at ways to drastically cut their expenses rather than how each of them could make more money. They were so focused on the money they spent, and feeling bad about it, that they just couldn’t change their scarcity mindset around money.

For Danielle, it was essential to let go of the conventional notion that time equals money and instead, shift her focus to delivering exceptional value. This mindset shift is powerful because it moves you away from the limited mindset of trading hours for dollars and opens up a world of possibilities for financial success.

When she learned to recognize that value equals money, she understood that it’s not about the amount of time you put in, but rather the impact you create through your expertise, skills, and unique contributions. By aligning her actions with this value-driven approach, she positioned herself as a trusted advisor who went beyond traditional accounting services.

Taking it a step further, she learned to consider the fact that her brain is what produces value. As an accountant, your knowledge, problem-solving abilities, analytical skills, and strategic thinking are the valuable assets you bring to the table. 

Your brain is the powerhouse behind these abilities, and by learning how to manage and optimize your brain’s potential, you can maximize the value you provide to your clients and your organization.  She learned that managing her brain involved understanding how to intentionally use her higher, Supervising Parent brain more often.

By learning techniques and strategies to manage her thoughts, emotions, and cognitive abilities effectively, she became equipped to navigate challenges, make sound decisions, adapt to changing industry trends, and provide innovative solutions to her clients.

So for the listeners, recognize that your brain is the source of value, and by managing it effectively, you unlock your full potential as an accountant. The possibilities for sustainable financial growth and professional fulfillment as a Smarter Accountant are limitless.

That’s what I have for you, but 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.

Have you ever found yourself scrolling through social media, comparing your life to the seemingly perfect lives of others? Or maybe you’ve compared your achievements, relationships, or appearance to those of your peers, feeling like you don’t measure up? You’re not alone. 

The issue that I see for most accountants when it comes to comparing ourselves to others is that it affects so many areas of our lives, not just our work. It can affect our relationships, self-confidence, ability to set and achieve goals, and much more.

If you’re not familiar with the term “compare and despair”, it’s when we constantly measure ourselves against others, and it often leads to a downward spiral of negative thoughts and emotions. We make these comparisons, and suddenly we feel inadequate and less capable than before.

But before you beat yourself up for your tendency to compare yourself to others, let me help you out—it’s completely natural. Our brains are wired from a young age for comparison, so it’s not our fault.  It’s just part of being human.  

The psychology of comparison

In order to survive, the human brain has a tribe mentality and looks for ways to understand our relationship with the rest of the tribe and how we fit in. Our lower primitive brain equates rejection with death. Therefore, not being accepted or valuable is quite threatening.

As we learned about survival of the fittest in school, our brain’s motivation for survival has been to measure us against others, build connections that keep us safe, and to be on the lookout for any threats. We’re not just looking for differences in people and situations, we are also hardwired to see if those differences are better or worse.

Here’s the interesting part: even though we know that comparing ourselves to others can make us feel inadequate and insecure, we still find ourselves doing it. Whether it’s mindlessly scrolling through social media, observing the success of our peers, or even comparing ourselves to an unrealistic version of who we think we should be, we can’t seem to shake off this behavior.

So why do we continue to compare ourselves to others, even though we know it can be harmful?  Because comparison is a natural and necessary part of our survival and adaptation. 

Throughout human evolution, comparison has helped us to assess our environment, understand social dynamics, and make decisions about how to behave. It’s no wonder, then, that we continue to engage in this behavior today.

The negative effects of social comparison

However, the problem is that our brains are not well-suited for the kind of comparison that we do today. In the past, comparison was limited to our immediate environment and social group. 

But today, we have access to a global network of information and social comparison. Social media, in particular, has created a world where we are constantly bombarded with images and information about other people’s lives, accomplishments, and successes. And our brains simply aren’t equipped to handle this level of comparison.

One reason why social comparison can be so damaging is that our brains naturally tend to focus on the negative. This is a phenomenon known as negativity bias. 

Essentially, our brains are wired to pay more attention to negative information than positive information. This is why we tend to dwell on criticism or failure, even when there are many positive aspects to a situation. 

The issue is that when we engage in social comparison, we are more likely to focus on the ways in which we fall short of others, rather than our own strengths and successes.  Another reason why social comparison can be harmful is that it activates the same neural pathways as physical pain. 

In a study conducted at the University of California, Los Angeles, participants were asked to rate their level of social exclusion while undergoing an MRI. The researchers found that the brain regions that were activated during social exclusion were the same as those activated during physical pain, suggesting that social exclusion, or the feeling of not measuring up to others, can be as painful as physical injury.

In addition, social comparison can lead to feelings of envy, jealousy, and resentment. These can be particularly damaging because they can erode our relationships with others, and can also lead to feelings of shame and guilt. 

When we compare ourselves to others in a negative way, we are essentially saying that we are not good enough as we are; a difficult message to shake.  So, given all of these negative effects, why do we continue to compare ourselves to others, besides the fact that our brains are hard-wired for it? 

Healthy versus unhealthy comparison

Well, besides the fact that our brains are hard-wired for comparison, another reason we continue is that comparison can also have positive effects. Think about it – it can motivate us to improve ourselves, to strive for greater success, to achieve our goals, and in some cases, comparison can be a useful tool for self-evaluation and growth.

The issue is that it’s important to distinguish between healthy and unhealthy comparisons. Healthy comparison involves looking at others as a source of inspiration and motivation, rather than as a measure of our own self-worth. 

Healthy comparison is looking at someone else’s achievements as an example of what’s possible.  It can give us a source of inspiration.

Healthy comparison involves recognizing that each person’s journey is unique, and that we all have our own strengths and weaknesses. 

On the other hand, unhealthy comparison involves using others as a yardstick for our own success.  Sometimes it can lead to feelings of inadequacy, insecurity, and a lack of drive or motivation.

There have been numerous studies done to understand how our inclination towards comparison affects our happiness and contentment. Some interesting studies of Olympic medal winners were done to compare the happiness level of each winner. 

At first glance, you would think that the Gold winner would be the happiest, the Silver winner the second happiest, and the Bronze winner would be the least happy. But that’s not what these studies discovered.

Because of the tendency to compare and despair, the Silver winner was looking at the one person, the Gold winner, to compare themselves to and thinking “I was so close!”, which then created the feeling of unworthiness. However, the Bronze winner was looking at all the people they needed to beat to be on the podium, thinking, “This is amazing!” and actually feeling happier than the Silver winner.

The truth is that our brain is constantly looking to see who we may be in competition with and determining who is “winning”. This means that we believe we need to accumulate validation and gold stars in order to feel good about ourselves.

When we add our brain’s natural tendency to compare, as well as being taught at an early age that competition is good, it’s no wonder we compare and despair. We’re constantly scanning to see if we measure up and looking for those measurements to determine if we should feel better or worse about ourselves.

Unfortunately, when the cycle of compare and despair becomes a habit, we are not only measuring our self-worth against others, we can also begin doubting decisions or getting stuck in confusion. If we have a habit of looking to the past, comparing it to the present, and then feeling bad about a decision, we are also strengthening the compare and despair cycle.

When we haven’t worked on understanding and managing our brain, we will mistakenly believe we need to be different, or have a different situation, in order to feel happy, but that’s not true. The only way to get out of the cycle of compare and despair and feel better is to change the way we are thinking.

Becoming a Smarter Accountant

In my book “The Smarter Accountant” I shared the story of Kendra.  Kendra decided to study accounting a little later than most. After high school, she decided to join the military and, once she finished serving her time, she chose to go back to school for an accounting degree.

Not only was she older than most of the students in her class, she was also balancing school, a part-time job, being a wife, and being a mom to her young daughter. Although she had a lot on her plate, she completed her undergraduate accounting degree, was finishing up her Master’s, was planning on taking the CPA exam, and was at the point where she was going to be interviewing for an accounting position.

The issue that Kendra was dealing with was a lack of confidence and caring too much about what others thought of her. Unfortunately, this was holding her back from putting herself out there.

Whether it was simply believing that what she had to share in a conversation was valuable, or having the confidence to apply for positions that she was qualified for, she had a hard time not comparing herself to others and then feeling despair. 

Her dream was to have the confidence to not care what other people think, not compare herself to others, and be able to own her unique gifts and talents. She was intelligent, loved learning, was articulate, and wanted to eventually help a company grow as their controller, but it was as if there was a wall of self-doubt that kept being put in her path.

She was so used to being in the background, not taking charge, and letting others make decisions for her that she believed she wasn’t as capable as the other students she went to school with. She constantly compared herself to others and always came up short in her mind.

She knew she was smart, having one of the highest GPAs in her graduating class, but she just didn’t have the level of self-confidence that she would like. She tried ignoring her feelings of self-doubt but then someone would do or say something and she’d fall right back into her pattern of compare and despair.

What Kendra needed to learn is how to shine a light on her unhelpful thoughts causing the compare and despair cycle and choose instead to direct her brain more intentionally.  She needed to understand that, if the feeling of self-doubt is caused by her thoughts, then the feeling of self-confidence can be as well. 

For most accountants, this can be a big wake-up call—our level of knowledge, the school we graduated from, the experience we do or don’t have, and the number of letters after our last name are just neutral circumstances—they don’t mean anything until our brain makes them mean something.

So, if comparison has been an issue for you, it’s not your fault because you’ve never been taught how to manage your brain.  A Smarter Accountant understands how to get unstuck from the trap of comparing themselves to others. 

They know what’s happening, why it’s happening, and how to stop the compare and despair cycle.  Just like so many of my coaching clients who dealt with the compare and despair trap, once they learned a simple process for managing their brains, they were able to show up in ways that weren’t possible before becoming a Smarter Accountant.

What you can do

So, if you find yourself caught in the compare and despair trap, there are steps you can take to break free and become a Smarter Accountant:

Awareness – Recognize when you’re falling into the comparison trap. Pay attention to the negative emotions that arise when you compare yourself to others. By becoming aware of this pattern, you can start taking control of your thoughts and reactions.

Challenge your thoughts – Question the validity of your comparisons. Are you seeing the complete picture, or are you just focusing on the highlight reels of others? Remind yourself that everyone has their own unique journey, and you’re on your own path too.

Focus on your strengths – Shift your attention to your own accomplishments, skills, and strengths. Celebrate your progress and recognize your unique contributions. Instead of dwelling on what you lack, cultivate self-appreciation and self-compassion.

Limit social media exposure – Recognize that social media often showcases curated and idealized versions of people’s lives. Take breaks from social media or curate your feed to include more positive and uplifting content. Remember, comparison on social media is not an accurate reflection of reality.

Set realistic goals – Define your own goals based on your personal values and aspirations. Instead of comparing yourself to others, focus on continuous self-improvement and growth. Embrace the journey and progress at your own pace.

Practice gratitude – Cultivate a sense of gratitude for what you have and the progress you’ve made. Regularly reflect on the positive aspects of your life and career. Gratitude can help shift your focus away from comparison and bring more contentment and fulfillment.

Seek support and coaching –: Consider seeking guidance from a coach or a mentor who can help you navigate the challenges of comparison and build resilience. They can provide valuable insights, strategies, and support as you work toward overcoming the compare and despair trap.

Remember, becoming a Smarter Accountant means freeing yourself from the negative effects of comparison and embracing your unique talents and journey. By understanding the neuroscience behind comparison and taking proactive steps, you can break free from the trap and create a fulfilling and confident professional life.

If you’re tired of the compare and despair trap, let’s talk.  Schedule a quick, free mini-coaching session with me and I’ll help you understand what to do to stop the cycle.

While comparison might be normal, it’s not always helpful.  I can teach you a simple formula for how to break the cycle and overcome the comparison paradox.

Just go to www.thesmarteraccountant.com/calendar and book a free session with me.

Also, I would sincerely 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.

As I share each week, the truth is that you’re already smart, but this podcast will show you how to be smarter.

Let’s talk about productivity as accountants.  Are you someone who often finds themselves struggling with productivity, despite putting in long hours and working hard? You know how they’re always saying work smarter, not harder?  What does that even mean?

Well, you’re in luck because in this episode, we’re going to delve into the fascinating connection between your brain and productivity. We’ll explore how gaining insights into this relationship can significantly improve your work efficiency.

As the Get Shit Done Coach for Accountants, I have a wealth of knowledge on how to get more done in less time without burning out. In fact, I’m currently writing an e-book on productivity and time management specifically tailored for accountants.

And if you don’t yet know your productivity score, you’re going to want to check out  the “Get Sh*t Done Quiz for Accountants.”  You can take it by going to https://thesmarteraccountant.com/productivity-quiz/.  You can find out your productivity score and get tips and information on how to get more done in less time, save yourself 5 hours a week, and learn what does and doesn’t work.

So the reason I wanted to do this episode is to help you understand the brain-productivity connection.  If you feel like there’s never enough time or you’re constantly feeling stressed and overwhelmed, there are things you can do.

As I’m sure you’re well aware, productivity is crucial for accountants like us. The issue is that many of us struggle to maximize our productivity, even when we put in our best efforts.

It can be frustrating and disheartening to invest significant time and effort into our work, only to fall short.  It’s challenging to feel like we’re always dealing with a never-ending to-do list.

To effectively address this issue, it’s important to understand how our brain influences our productivity. The truth is that our brain controls our thoughts, actions, and behaviors, playing a vital role in our ability to focus, make decisions, prioritize tasks, and manage our time effectively.

Thankfully, by understanding the simple neuroscience behind productivity, we can gain valuable insights into optimizing our overall productivity and, most importantly, avoiding burnout.  Learning what I’m going to share with you has literally had the biggest impact for me both professionally and personally. 

By the end of this episode, my goal is for you to be equipped with the knowledge and tools to work smarter, achieve better results, and experience a greater sense of accomplishment.

So, if you’ve ever felt frustrated by your lack of productivity or wondered how to make the most of your time and effort, let me share some strategies on how to become a smarter, more productive accountant

.

Jeff’s Story – Unraveling the Challenges of Productivity

To illustrate the common struggles many accountants face when it comes to productivity, I shared the story of Jeff in my book, “The Smarter Accountant.”  Jeff was a partner in a small accounting firm and had dedicated 25 years of his career to the same organization. 

Throughout his long career, he had seen first-hand the evolution of accounting practices, from manually managing financials using 10-column paper to embracing the latest technological advancements aimed at improving accountants’ productivity and efficiency.  Jeff was known for his eagerness to learn and adopt new technologies. 

He actively looked for different apps and programs to optimize his workflow and improve the overall productivity of his firm. While he acknowledged the benefits of the workflow system implemented in his practice, he couldn’t help but feel dissatisfied with his personal productivity levels.

Despite working an average of 60 hours per week, Jeff found himself falling short of his goals. He noticed that, even with the use of tools like planners or programs like Outlook, he struggled to produce the amount of work necessary to fulfill his contractual obligations. 

Like most of us, the issue extended beyond his professional life. Even during his time at home with his wife and children, Jeff felt a sense of unease. 

Despite being constantly on the move, he couldn’t shake the feeling that he wasn’t as productive as he wanted to be. When asked about his weekend, he often struggled to recall specific accomplishments.

While those around him wouldn’t describe Jeff as “lazy,” he carried a deep dissatisfaction with being busy simply for the sake of being busy. He really wanted a better understanding of how to improve his productivity and feel more fulfilled in both his work and personal life.

One of the biggest mistakes Jeff made, and that I see many accountants make, was his focus on scheduling and calendaring actions. He believed that by meticulously planning out his tasks and allocating specific time slots to them, he would be able to manage his productivity effectively. 

However, this approach failed and left Jeff feeling frustrated.

Scheduling results, not actions

Jeff’s situation is actually pretty common. Many of us who have high-pressure jobs, especially in public accounting, tend to get caught up in scheduling activities instead of focusing on the results we want to achieve.

You know how it goes: we meticulously check off items on our to-do list or calendars, but we still struggle to be productive. It might seem like a reasonable approach at first, but it overlooks an important aspect of productivity—actually getting things done.

If we want to truly improve our productivity, we need to shift our focus from just taking action to achieving specific results within a set timeframe. When we allocate dedicated time slots for producing something, we have to hold ourselves accountable for reaching those outcomes on time.

I get it; this approach can be challenging for accountants who have a perfectionistic streak. It means prioritizing completion over pursuing perfection, but here’s the thing: perfectionism can actually kill productivity.

When we get caught up in the cycle of perfectionism, our brain’s reward center gets activated when we achieve flawless results, reinforcing the belief that perfection is necessary for success. However, this mindset can be counterproductive because it leads to excessive self-criticism and fear of failure.

Sure, striving for excellence is great, but when we fixate on perfection, it often leads to delays, overthinking, and a never-ending cycle of revisions. While it might be tough at first, the key is to embrace the mindset that “done is better than perfect.” 

When I work with time management clients, I teach them to embrace B- work but to also schedule what’s referred to as “Overflow Time” in order to complete what didn’t get done or to just allow the buffer of time at the end of the day to realize that what’s already done is fine and to move on.

The problem with to-do lists

When it comes to being productive, many of us rely on the good old to-do list to keep things organized and on track. But let’s face it, there are some limitations we need to be aware of.

First, our brains can only process so much information at once. When we’re faced with a long list of tasks all at the same time, it can cause what’s called cognitive overload. 

Cognitive overload happens when our brain is overwhelmed with too much information or tasks to handle at once. It can make us feel mentally exhausted and lead to difficulties in focusing, processing information, and making decisions effectively.

This cognitive overload makes it hard to focus, prioritize, and actually get things done. Instead of feeling organized and in control, we end up feeling overwhelmed and unsure, which leads to procrastination and decreased productivity.

Second, one of the problems with traditional to-do lists is that they often lack prioritization. The truth is that your lower, primitive brain sees a list of things to get done as a threat.  

Here’s the thing with to-do lists: they lack structure and time boundaries, even if we number the tasks. They can actually lead to a misuse of time and make things take longer than expected.

The third issue is setting unrealistic expectations. We tend to fill our to-do lists with a ton of complex and time-consuming tasks, thinking we’ll be able to accomplish everything. But that’s not always realistic. 

It just sets us up for disappointment and that overwhelming feeling we get when things aren’t done. When we have an unattainable list, it’s hard to stay focused and motivated, and that ultimately decreases our productivity.

Fourth, multitasking is another trap we fall into when working off a to-do list. It might seem like a smart way to get more done, but research shows that multitasking actually hurts our productivity. 

When we switch between tasks, our attention gets fragmented, and it takes time for our brains to refocus on each new task. All that shifting of attention ends up making us less efficient and feeling spread too thin.

The truth is that to-do lists also have limitations in terms of how our brains process the information they contain. Our lower, more primitive brain struggles to put the items on a to-do list into context. 

It sees everything as equally urgent and overwhelming, without the ability to prioritize or understand complexity. As a result, we end up being constantly busy but without a sense of accomplishment or progress.

To overcome these limitations and avoid cognitive overload, it’s important to explore alternative strategies for managing our tasks and maximizing productivity. In my 6-week Smarter Accountant Time Mastery Program, I actually encourage clients to throw away their to-do lists. 

I know it might sound uncomfortable, but the results speak for themselves. They end up getting more done in less time, feeling more energized, and gaining better control of their time.

Becoming a Smarter Accountant

If you want to up your productivity game, it’s time to become a Smarter Accountant and understand how your brain works when you have tasks to tackle. Just staying busy and taking action won’t guarantee the results you’re after.

Remember Jeff, the partner at that small accounting firm? He thought he had it all figured out with his meticulous planning and scheduling. He even tried using the latest technology to stay on top of things. But guess what? Jeff faced the same productivity challenges that most accountants face.

Luckily, things took a turn for the better when Jeff went through The Smarter Accountant Time Mastery Program and learned about the connection between the brain and productivity. He started implementing practical strategies and saw a remarkable transformation in his work life. 

First, he started setting clear goals for each day and prioritizing tasks based on their impact and ease.  Then, he was introduced to my Container Calendaring approach, which combines brain science with time management. 

This approach helped him schedule results instead of just actions. Thankfully, it made him more accountable and motivated to achieve tangible outcomes within specific time frames.

He also learned to let go of his perfectionist tendencies. Instead of obsessing over perfection in every single task, he focused on making progress and moving forward. 

He realized that “good enough” was often sufficient to meet his goals and deliver quality work. He also admitted that taking regular breaks became a crucial part of his routine, allowing his brain to recharge and improve his focus and overall well-being.

By embracing single-tasking, he was able to stop multitasking and saw a significant boost in his productivity. He learned to focus on one task at a time, giving it his full attention before moving on to the next. This approach resulted in higher-quality work and a greater sense of control over his workload.

Managing interruptions also became a skill Jeff mastered. He set boundaries and used tools to minimize distractions during focused work sessions. Once he got the hang of a tool I teach called The Model, his stress and overwhelm reduced dramatically, and that had a massive impact on his productivity.

Jeff’s transformation really is a testament to the power of understanding how the brain plays a role in productivity. By adopting effective strategies that fit his specific needs, he saw significant improvements in both his productivity and well-being.

Signs of cognitive overload 

So hopefully you now have a better understanding of how, by leveraging the brain-productivity connection, you can harness the power to improve your productivity. 

First, I would start with recognizing when cognitive overload is slowing you down.  While it’s incredibly common for accountants to be dealing with cognitive overload due to the nature of the work that we do, here are some signs to look out for:

Difficulty focusing and staying on task – If you find yourself struggling to concentrate on your work and frequently getting distracted or having your mind wander, it could be a sign of cognitive overload. You may feel overwhelmed by the sheer volume of tasks or information you need to process, making it challenging to maintain focus.

Increased forgetfulness and errors – Cognitive overload can affect your memory and attention to detail. If you notice an increase in forgetfulness, such as missing deadlines or important information, or if you’re making more errors than usual in your work, it may indicate that your cognitive resources are stretched thin.

Feeling constant mental fatigue and exhaustion – Cognitive overload can leave you feeling mentally drained and exhausted, even if you haven’t engaged in physically demanding activities. If you consistently experience mental fatigue, find it hard to recharge, and lack the energy to tackle your tasks with enthusiasm, it could be a sign that your brain is overloaded.

To combat this, it’s important to optimize cognitive function.  This can be achieved through things like effective prioritization and understanding a better way to create a structured schedule like using my Container Calendaring process to give you much better control over your time and your productivity..

Harnessing the power of the brain-productivity connection

Here is my #1 secret to being incredibly productive without burning out – plan, plan, plan.  The key is that when you are planning your time you are using your higher brain; the part I refer to as The Supervising Parent.

When you are not taking the time to plan, you are allowing your Toddler brain to manage your time.  I don’t know about you, but I do NOT want a Toddler managing my productivity because I will never get anything done.

In The Smarter Accountant Time Mastery Program I teach you how to use The Supervising Parent part of your brain to manage your time, but just know that if you aren’t effectively planning, you’re not as productive and efficient as you could be.

Another thing to consider is optimizing your work environment. You won’t believe how much of an impact it can have on your productivity; your physical and digital work environment play a major role in how efficiently you can get things done.

To create an environment that sets you up for optimal brain function, there are a few things to keep in mind. First off, let’s talk about distractions. We all know how tempting it is to keep those notifications on and constantly check our phones or emails. But guess what? Those distractions are productivity killers. 

So, one simple step you can take is to turn off notifications. Trust me, it’s a game-changer. And if you want to take it a step further, establish boundaries to limit interruptions. Let your colleagues or family members know your work hours and create a space where you can have uninterrupted focus.

The next thing to tackle is digital clutter. Are your documents and emails all over the place? Believe me, I’ve been there too. It’s time to streamline that chaos. 

Take some time to organize your files, set up folders that make sense to you, and develop a system for managing your emails. Trust me, when everything is neat and accessible, it frees up mental space and helps you find what you need without wasting time and energy.

Another thing to consider is the physical aspects of your work environment. Are you comfortable? Do you have good lighting? These seemingly small things can actually have a big impact on your productivity and well-being. So, take a moment to adjust your workspace to make it comfortable and conducive to getting things done.

Remember, optimizing your work environment is all about setting yourself up for success. Minimize distractions, streamline your digital organization, and create a comfortable physical space. These simple steps can make a world of difference in boosting your productivity. 

The last thing is that I encourage continuous learning and growth.  The brain thrives on novelty and ongoing learning so embrace the opportunity to learn new and improved ways to improve your productivity.  

Of course I’m biased, but I recommend engaging in neuro-science based programs and workshops like I offer with The Smarter Accountant because a small investment in learning what I teach not only increases competence but also fosters a sense of confidence and mastery.

As a bonus suggestion, here’s what has also made a big impact on my productivity – I look for ways to make things fun.  If it doesn’t seem like it’s going to be fun, I look for ways to make it fun.  Yes, especially my accounting work.

I cannot tell you how much that has improved my ability to get more done in less time.  I do not allow stress, overwhelm, or frustration to fuel me because they are huge time wasters and productivity killers.

Do you know what’s the most fun?  Getting more done in less time so that I have more time for the things and the people I love.  That is fun!

Conclusion 

So hopefully you can now see that by harnessing the power of the brain-productivity connection, you  can transform your work life and achieve higher levels of efficiency and satisfaction. Embracing cognitive optimization, optimizing the work environment, and nurturing continuous learning and growth are key pillars in unlocking the full potential of productivity. 

As you continue listening to this podcast and equip yourself with neuroscience-backed strategies, I promise you will pave the way for professional success and personal fulfillment.

If you’d like to explore how you can learn a simple process for managing your brain so that you can improve your productivity but not burn out, schedule a quick session with me at www.thesmarteraccountant.com/calendar

We’ll discuss where you’re at, where you’d like to be, and what you need to do in order to get there. 

And don’t forget about the “Get Sh*t Done Quiz for Accountants” you can take by going to https://thesmarteraccountant.com/productivity-quiz/.  Find out your productivity score and get tips and information on how to get more done in less time, save yourself 5 hours a week, and learn what does and doesn’t work.

Also, I would sincerely 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.

Do you ever wonder why some accountants are good at managing their time while others struggle? Do you find yourself delaying tasks even when they’re important?

If time management is a problem, then this episode is for you. I specialize in time management for accountants and have discovered the secret to better time management.

One of my coaching clients recently said, “You should call yourself the ‘Get Sh*t Done Coach for Accountants’ because I’ve never known anyone who gets more done in less time without burning out than you.”  I loved that so much that I’ve started calling myself exactly that – The Get Sh*t Done Coach for Accountants.

In my experience, here’s what I see with most accountants – they have what I call “time drama.”  Time drama refers to the mental drama and stress related to how we think about and use our time. 

Being aware of this is important because it can throw us off track without realizing it.  Some common thoughts that create time drama include:

This is too difficult.

There’s too much to do.

There’s not enough time.

Tax season is overwhelming.

Everyone else is stressed about time.

There’s nothing I can do to fix it.

The interesting thing is that most accountants believe they’re not being dramatic; they genuinely think time is the problem.

Your brain’s role in time management

But here’s something important that nobody is teaching accountants about time management: Time itself isn’t the problem. The real issue lies in the way you think about time. In other words, it’s not time that’s causing the trouble, it’s your brain.

Thankfully, it is possible to find balance, create more time in your day, and accomplish more in less time by understanding your brain’s role in time management.  What no one is teaching accountants is that you first have to learn how to manage your brain before you can better manage your time. 

I promise you that improving time management for accountants isn’t just about learning a better process.  It’s not about the latest technology, app, or special planner.

It’s about becoming a Smarter Accountant and understanding how your unique accountant brain works. Once you gain a better understanding of that, you’ll be amazed at how much more balance you’ll achieve and how much your time management will improve.

If you’re skeptical right now, I understand why you might hesitate to see time differently from other accountants. But that’s part of the problem. 

Your brain looks for evidence to support what you believe. If you don’t challenge your beliefs, you’ll never experience what’s truly possible.

Believe me, I felt the same skepticism you’re feeling now. But once I understood the connection between our brains and time management, everything about my time management skills improved. 

The same goes for my coaching clients.  I’ll share some of their stories in a minute.

All those apps, planners, and programs you’ve been trying to improve your time management are just temporary fixes.  The analogy I use is that relying on them is like using towels to catch water from a leaky faucet instead of fixing the leak itself. To solve the problem, you need to stop the leak.

The issue I often see with accountants is that we know how to put tasks on a calendar and schedule our time, but when we don’t know how to manage our brains, we can’t guarantee that we’ll follow through. We get pulled in different directions, time slips away, and suddenly our to-do list has grown with not enough hours in the day to complete everything.

So, if you’re an accountant struggling with time management, it’s not your fault. Most accountants are managing their time incorrectly, which has led to the belief that time is the problem. You can’t go to work every day thinking time is the problem and expect to gain control over it.

With this blame mentality, your time management will be sloppy. In other words, when you make time the problem, you create more problems for yourself.

The power of the prefrontal cortex

To improve your time management, it’s important to understand your brain better. One of the main reasons why you struggle with time management is that you’re not using the higher part of your brain called the prefrontal cortex enough.

In a previous episode, I explained that you have two main parts of your brain: the lower part, which I call the Toddler, and the higher part, which I refer to as the Supervising Parent. The Toddler seeks immediate gratification, while the Supervising Parent can make better decisions and delay gratification.

If time management is a problem for you, it means you’re not using the power of the prefrontal cortex, the Supervising Parent part of your brain, to manage the Toddler. In other words, you’re letting your unmanaged brain control what you do and don’t do, wasting a lot of time and energy in the process.

Unfortunately, many of us have unhelpful thoughts when it comes to our workload, time constraints, and other aspects of what needs to be done. And the worst part is that we often find other accountants who agree with us.

One of my coaching clients was surprised to discover how often she described herself as “busy” and how that affected her productivity. Once she learned to separate the facts from the story her brain was telling about the facts, she was able to accomplish much more in less time.

The great thing about becoming a Smarter Accountant is that you can master time management by understanding that managing your brain has to come first. The reason your life feels unbalanced and time management is a struggle is because of your unmanaged brain.

It’s important to know that the prefrontal cortex, the Supervising Parent, plays a key role in time management. It handles executive functions like planning, decision-making, and self-control. The prefrontal cortex helps us set goals, prioritize tasks, and plan our calendar.

The prefrontal cortex also helps us resist distractions and see the long-term benefits of focus. It enables us to resist the temptation to check social media or email when we need to concentrate on a task. 

I’ll be discussing managing email in an upcoming episode, but for now, just know that not properly managing email is one of the biggest time wasters for accountants.  When working with my time management clients, I teach them how to manage their email instead of letting email manage them.

You’d be amazed at how much more productive you can be when you use the prefrontal cortex to manage things like your email. It’s like having your own personal assistant.

When you learn to manage your brain and develop better habits with time, regular tasks become easier without requiring too much mental effort. Creating good time management habits makes your daily routines more efficient, leaving more mental energy available for more demanding accounting work.

The effect of stress on time management

Another reason why your brain affects your time management is that if you don’t learn to be aware of and manage your emotions, you’ll constantly feel stressed and overwhelmed. And do you know what doesn’t help you to be productive and efficient?  Feeling stressed and overwhelmed.

When we’re stressed and overwhelmed, it becomes difficult to concentrate and make decisions. You’ve probably experienced this as well, where it seems almost impossible to get anything done because you’re feeling so overwhelmed.

But here’s the good news: when you learn a simple process for managing your brain, you can shift from feeling stressed and overwhelmed to feeling focused and clear.  What I like to tell my coaching clients is that the feeling of stress is like trying to drive at high speed with the parking brake on—it’s impossible to make progress without burning out.

Once you learn to handle stress better, you’ll be amazed at how much more you can accomplish in less time. Stress and overwhelm are also terrible motivators, which is why many accountants struggle to avoid overworking.

The brain’s reward system

Another thing that’s important to know is that your brain’s reward system plays a role in time management. This system releases chemicals like dopamine, which makes us feel good and motivates us to repeat certain behaviors. When we accomplish a task or achieve a goal, dopamine is released, giving us a sense of pleasure.

However, the reward system can work against us when it comes to managing our time. Tasks that provide immediate gratification, like checking social media or email, can activate the reward system and make it hard to focus on more important tasks that have delayed rewards.

That’s why we often get distracted by email notifications or social media alerts, even when we know we should be working on something else. Our lower, “Toddler” brain is driven by seeking pleasure, avoiding pain, and conserving energy, which is why these distractions are so tempting, especially when doing accounting work.

To the Toddler part of our brain, accounting work is not usually seen as pleasurable, it can be challenging, and it requires a lot of mental energy. So, it’s no wonder we easily get sidetracked by the immediate gratification of things like email.

It’s also important to know that external factors like societal expectations or work environment can influence how our brain rewards us. For example, if there’s pressure to work long hours or complete difficult tasks within tight deadlines, our brain’s reward system might kick in when we meet those expectations, even if it’s not beneficial for our overall well-being.

Resolving cognitive dissonance

This can often lead to a sense of dissonance or discomfort between our internal sense of what is rewarding and our external behaviors.  Dissonance refers to a state of conflict or inconsistency between our beliefs and our behavior.  

Cognitive dissonance is like a game of tug-of-war in our brain.  It’s when we experience mental stress when confronted with information that contradicts our existing beliefs or values. 

For example, let’s say you really value your personal time and want a good work-life balance. But at the same time, you feel pressured to meet strict deadlines and work long hours. This creates a conflict in your mind because your beliefs clash with what’s expected of you.

As a result, you might feel stressed and under pressure as you try to balance your personal life with work demands. It can be tough to handle the guilt or internal conflict that arises when you have to work extra hours and sacrifice your personal time.

The good news is that understanding how your accountant brain works can help you resolve this conflict. It can help you find a balance between your personal priorities and your professional responsibilities. 

By learning how to manage your brain effectively, tasks like setting realistic deadlines, delegating work, and communicating with your colleagues and clients become much easier.

The benefits of becoming a Smarter Accountant

I’ve shared a lot of information about how your brain affects your time management skills, but personally, once I learned how to become a Smarter Accountant, everything improved. I got better at managing my time, accomplishing more in less time, reducing stress, and having a balanced life.

Most people call it “Time Management,” but I prefer to call it “Time Mastery.” To master your time, you need to do two things: learn how to manage your brain and learn a better process to manage your time.

That’s exactly what I teach in the 6-week Smarter Accountant Time Mastery Program. You’ll learn how to manage your brain effectively so that you can more effectively manage your time. The truth is, as accountants we struggle with time management when we don’t address both aspects.

The good news is that my clients are amazed at how much more they can achieve in less time without burning out. Thankfully, mastering time is a real game-changer.

For example, one of my clients, Jay, often found himself overwhelmed and struggling to manage his time effectively. He would frequently get caught up in minor tasks, allowing them to eat away at his precious working hours. 

Procrastination and poor prioritization resulted in missed deadlines and increased stress levels. Jay’s  productivity suffered, and he often had to work late nights and weekends to catch up, leading to burnout and a diminished quality of life.

Once he successfully completed the 6-week Smarter Accountant Time Mastery Program, he learned valuable techniques and strategies to optimize his time management skills.  With new found clarity and focus, he became a master at prioritizing his tasks. By eliminating distractions and setting clear goals, Jay discovered a newfound sense of purpose and direction in his work.

With the help of my exclusive Container Calendaring process and learning how to manage his brain so that he didn’t feel stressed or overwhelmed, he improved his productivity exponentially.  By effectively managing his time, he was able to accomplish more in a single day than he previously achieved in a week. 

Deadlines were consistently met, and the quality of his work improved significantly. He no longer had to sacrifice his personal life to meet work demands. 

Remember, the problem isn’t time itself; it’s your unmanaged brain.

Okay, that’s what I have for you today.  Make sure you tune in next week when I discuss the brain-productivity connection. 

If you want to see how your accountant brain currently measures up, I suggest you take The Smarter Accountant Quiz.  It’s the starting point to see if and how you are underutilizing your accountant brain.

It only takes 5 minutes and you can check it out at www.thesmarteraccountant.com

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.

Welcome back to the Stressed Accountant. Whether you’re in public or private accounting, why is it that we tend to overwork?  Why are there so many memes and jokes about accountants being tied to our desks?  More importantly, is it worth it?.

I have been a CPA in public accounting for over 30 years and have worked for some of the Big 4 like Deloitte and Touche, and Ernst and Young.  I started my career in the late 1980’s when men had to wear white dress shirts under their dark suits and women had to wear skirt suits, making sure their blouses weren’t too brightly colored.

We were serious accountants doing serious work.  For many of us, working long hours, pulling all-nighters, and sacrificing weekends and holidays had become a normalized part of our job.  But at what cost? 

In this episode I want to explore the impact of chronic overworking on accountants’ physical, mental, and emotional well-being, our work-life balance, and the quality of our work. I also want to examine the factors that contribute to the culture of overworking in accounting firms, and consider the benefits of a more balanced workload. 

In my book, “The Smarter Accountant” I share the story of Joe who was secretly using work as a way to try to build his lack of self-confidence. A large part of the reason why he was working too many hours was that he was trying to prove his worth—to the firm, to his family, and himself.

If you struggle with overworking, you most likely have a family or others in your life who are also being affected by all those work hours. And, just like Joe, I’m going to bet you are also being detrimentally affected in many ways, possibly including your relationships, your health, and your happiness.

While working too many hours has various causes, such as fear, anxiety, a scarcity mindset, a lack of time management skills, and a propensity to overcommit, the one main cause that I see the most when I’m coaching clients is a lack of self-confidence. Hands down, this is one of the most common issues for many accountants.

Even with all the advanced knowledge and degrees, the letters after our last names, and the continuing professional education, accountants still tend to have an issue with self-confidence. It’s a large part of the reason why we feel the need to go after those degrees and those extra letters after our last names—we believe those accomplishments and accolades will make us feel confident.

Think about it this way – we’re in a smart profession, surrounded by a lot of smart people doing smart things.  It’s no wonder the majority of accountants suffer from imposter syndrome, worried that someone will figure out that we don’t know as much as we should.

The culture of overworking in accounting firms

Here’s the other tricky thing when it comes to working too many hours—it’s also highly encouraged by the accounting profession. If you think about it, overeating, overdrinking, and overspending are frowned upon by society but when it comes to overworking, especially for accountants, this is rarely met with concern for the accountant’s overall well-being.

If we’re being completely honest, as accountants, we also tend to judge each other based on how many hours we work. For example, I was once walking in the hallway of my office building when I passed two accountants from another office in the building. One said to the other, “Did you see that Larry’s car wasn’t in the parking lot last night?” to which the other accountant replied, “He must not be very good at what he does.”

This badge of honor that has become the norm in the accounting profession might be considered good for business but it’s also leading to more marital, parenting, health, and burnout issues than anything else. 

As we all know, the accounting profession is well-known for its long hours, particularly during “busy season” when accountants are expected to work extended hours to meet client demands and deadlines. However, this culture of overworking extends beyond just a few months out of the year. 

Many accounting firms have built their reputation on their ability to work tirelessly for their clients, leading to a culture of overworking that pervades the industry.

Factors contributing to overworking

This culture of overworking is perpetuated by several factors, including client demands, competition, and a desire to climb the corporate ladder. For example, clients expect their accountants to be available whenever they need them, often with very tight deadlines. 

This puts pressure on us to work outside of normal business hours, including evenings and weekends. In addition, competition among accounting firms is fierce, leading to a need to constantly outdo one another in terms of responsiveness and quality of work. 

I’ve had clients email me day and night, thinking that, like a doctor, I was available 24/7.  But when I’m coaching my accountant clients, I help them to see that the work we do is important, but no one is going to die if we don’t reply to an email right away; we aren’t doing life and death surgery.

Unfortunately, accountants who aspire to higher positions within their firms often feel pressure to work longer hours to demonstrate their commitment and work ethic. It can become a warped game of “who stayed the latest is the most dedicated.”

When I was working at Deloitte, I wasn’t planning on going back after maternity leave with my first child.  But the partner in charge of the tax department didn’t want to lose me so he created the first part-time position in the office.

I was able to work 3 days a week, but when I left at 5:30 pm to pick up my daughter from daycare, my co-workers would comment, “What?  Working ½ a day?”  At first it bothered me, so I spoke to the tax partner.

I said, “You do realize I get more done in 3 8-hour days than any of them get done working 50 hours a week, right?”  He said, “Why do you think I created the position for you?”

Unfortunately, many accounting firms have a culture that normalizes overworking and the powers that be aren’t as forward thinking as that tax partner was. Many of the accountants I coach feel that they have to work longer hours in order to keep up with their peers, meet client expectations, or simply survive in a competitive industry. 

The impact of overworking on our well-being

Unfortunately, this culture of overworking can have a profound impact on our well-being. As I said before, while overworking has become normalized in the accounting profession, it comes at a high cost to our physical, mental, and emotional health.

One of the most obvious costs of overworking is fatigue. Long hours can lead to sleep deprivation, which can have a negative impact on things like cognitive function, decision-making, and memory retention. 

This can then make it difficult for us to perform at our best and may lead to mistakes or errors in our work.  

Overworking can also have negative effects on our mental health. Studies have shown that working long hours is associated with an increased risk of anxiety, depression, and of course, burnout.

For example, I had a coaching client who was an experienced accountant working for a mid-sized accounting firm. She consistently puts in long hours, including working late nights and weekends, to meet client demands and deadlines. 

She came to me because of the toll it was taking on her physical and mental well-being, as well as her relationships with family and friends. She was in the throws of full blown burnout and decided to seek my help in finding a healthier work-life balance.

The issue is that we’ve normalized overworking so much that accountants are afraid to ask for help.  They’d rather suffer in silence or be in denial about how it’s affecting them physically, emotionally, mentally, and relationally.

In addition to the physical and mental toll, overworking can have a significant impact on work-life balance. When we work long hours, we have less time to spend with family and friends, pursue hobbies, or engage in other activities that are important for our well-being. 

The issue is that this can often lead to feelings of isolation, loneliness, and dissatisfaction with our personal lives.

And of course the biggest issue with the long-term effects of overworking is burnout.  You just have to look at how The Great Resignation has impacted the accounting industry to realize that accountants are sick and tired of being sick and tired.

If you like statistics, here are some you might be interested in:

• According to a survey conducted by the American Institute of Certified Public Accountants (AICPA) in 2020, 61% of CPAs reported working more than 40 hours per week, with 26% working over 50 hours per week.

• A study published in the Journal of Accountancy in 2019 found that approximately 70% of accountants experienced symptoms of burnout. 

• According to a survey by the Chartered Accountants’ Benevolent Association, 67% of accountants in the UK reported that their mental health had been negatively affected by work-related stress.

• The AICPA’s 2020 survey revealed that only 43% of CPAs reported having a satisfactory work-life balance which means 57% of accountants struggle to find a healthy equilibrium between work and personal life.

This is why I am so passionate about coaching accountants and why I wrote my book, “The Smarter Accountant” and why I started this podcast – I want to change the narrative in the accounting profession.  You see, one of the best parts about becoming a Smarter Accountant is the fact that it becomes much easier to figure out how to have the career and the life that you want. 

You no longer have to be at the mercy of norms such as the accounting profession’s tendency to exist on the brink of burnout.

As I shared in a previous episode, not knowing how your unique accountant brain works is like having the most amazing piece of machinery on the planet and never reading the instruction manual. I not only help my coaching clients understand their brain’s instruction manual: I also help them fine-tune the advanced features as well. 

Work martyrdom

Another common thing I see with my coaching clients is being a “work martyr.”. Work martyrdom can show up in various ways, like taking work home so that you can get a jump-start on everyone else, not taking all your paid time off because you’re afraid it will look bad, or not being able to delegate because you’re worried that no one else can do the work as well as you.

Work martyrdom can also be sneaky because it’s often perceived to be normal, necessary or, even worse, rewarded. Thankfully, being a Smarter Accountant means being able to drop the thorny crown of work martyrdom and instead to have the professional and personal life you truly desire.

If you want to be a Smarter Accountant, you need to stop using things like work to make you feel confident and worthy. The truth is that if you want to stop working too many hours, you have to understand your unique brain better and how to manage it.

Seeking work-life balance

The last thing I want to talk about is the topic of work-life balance because I approach it differently than most people.  

Honestly, seeking work-life balance can literally feel like a game of chess.  If you move this piece here and that piece there, the result should be a balanced life.

Thankfully, in this age of technology there are so many more options for flexibility and telecommuting, especially in the field of accounting.  If your current employer doesn’t offer you what you want, there are many other possibilities available which adds even more temptation to move the chess pieces around the board.

But, the most important thing to know when you are seeking balance is that what you really want is the FEELING of balance, not X number of hours at work and Y number of hours at home.  Where you work and how much time you work is not the reason that you feel imbalanced.

The reason you want the new job, the new flexible schedule or whatever you believe will give you work-life balance is because you believe you will feel better in the having of it.  You may believe that if you change your job you’ll be happier or if you work closer to home you’ll be less stressed.

But here’s the key – feeling imbalanced does not come from your situation.  You can work 80 hours a week and feel balanced or work 20 hours a week and feel completely stressed and overwhelmed.

Believe me I get your confusion about what creates work-life balance.  I used to think that my schedule needed to be “just so” in order for me to feel balanced but then something changed a number of years ago just before tax season started.

As I said before, I have been a CPA in public accounting for over 30 years so I’ve had 30+ years of tax seasons.  Each year I would dread the imbalance I felt knowing all the extra hours that were ahead of me from mid-January to mid-April.  But one year, it all changed.

The extra hours, extra work and extra pressure didn’t throw me off balance.  I actually felt less stress and had more fun than I had ever had in my career.

What was the difference?  I learned what balance looked like no matter what situation I was in.

The benefits of becoming a Smarter Accountant

More importantly, I learned how to manage my brain which made it possible for me to significantly reduce stress and overwhelm no matter what time of year it was, to better manage my time, to get more done in less time, and to not work more than I wanted to.  That was the secret.

So the answer to the question “Is it worth it?” if you are an overworked accountant is truly up to you.  The most important thing to know is that you have options that you might not think are possible.

I have coached many clients who believed they were stuck doing what they were unhappy doing, but thankfully, once they became Smarter Accountants, they were able to be more intentional and have the accounting careers and the lives they really wanted.

I coached a partner in an accounting firm who was getting burned out working 80 hour weeks during tax season.  Like a lot of accountants, she had normalized overworking and was hesitant to set a goal to work less hours.

Thankfully, I was able to show her a simple time management process for reducing her hours but still allowing her to get the same amount of work done.  She said she was actually looking forward to tax season for the first time.

I had another client who was a Tax Manager at a mid-sized firm, and was known for her incredible work ethic. She would burn the midnight oil, work long hours, and pretty much put her personal life on hold just to prove herself and be successful.

She genuinely believed that her worth and competence as an accountant were tied to how many hours she spent at the office. But as time went on, this crazy work routine started taking a toll on her physical and mental well-being, not to mention her relationships.

No matter how dedicated she was, she couldn’t shake this feeling that she had to constantly overwork to prove herself. That’s when she reached out to me and we started working together through my Smarter Accountant Programs.

Together, we helped her realize that her value as a professional wasn’t solely dependent on the number of hours she logged in and that it was time for a mindset shift and some smarter strategies. We started by optimizing her workflow and making the most out of her time and energy.

Thankfully, once she got the hang of more efficient time management techniques, she was amazed at how much faster and more accurate she became at completing tasks. She gained a whole new level of confidence in her abilities, which meant she no longer felt the need to prove herself by working insane hours.

She finally understood that being a great accountant went beyond just being chained to her desk. By setting healthy boundaries and prioritizing self-care, she rediscovered the long-lost concept of work-life balance.

Believe me, the results were incredible! She was able to accomplish so much more in way less time, all without compromising the quality of her work. Her stress levels dropped and her overall well-being improved.

By focusing on her professional growth and finding fulfillment outside of work, she truly became a more well-rounded and happier person. It’s amazing what a shift in mindset and a little self-care can do!

Here’s the thing – there’s no reason you need to give up being an accountant; you just need to be willing to ask for help in order to have what you want.  When you’re ready, I’m always here to help!

You might have different reasons or justifications for overworking, but if you want a better way to have the professional and personal success you deserve, without burning out in the process, I can help.

Okay, that’s what I have for you today.  Make sure you tune in next week when I discuss the surprising way your brain affects your time management skills..

If you want to see how your accountant brain currently measures up, I suggest you take The Smarter Accountant Quiz.  It’s the starting point to see if and how you are underutilizing your accountant brain.

It only takes 5 minutes and you can check it out at www.thesmarteraccountant.com

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.

Welcome back to the Smarter Accountant Podcast. So, what’s the deal with accountants and stress?  Why are we so stressed and on the brink of burnout so often?

Well thankfully, stress and overwhelm are some of my favorite topics to discuss.  When I’m doing a presentation or talking one on one with accountants and I ask them to tell me the last time they felt stressed, it’s typically within the past 24 hours (if not 15 minutes ago!).

We all know that accounting is a demanding and complicated profession that often comes with high levels of stress and overwhelm. Whether you’re in public or private accounting, we frequently find ourselves working long hours, particularly during tax seasons and various year-round closing periods.

But in recent times, it seems like we’re experiencing more stress than ever with the pandemic creating unprecedented challenges and uncertainties for accountants. The sudden shift to remote work, the economic impact on businesses and individuals, and the ever-changing government support programs have added additional layers of complexity to our already demanding roles. 

The problem is that, if we’re not careful, prolonged exposure to stress can lead to burnout, decreased job satisfaction, impaired decision-making, and increased susceptibility to mental health issues such as anxiety and depression. Recognizing the significance of addressing stress in the accounting profession is essential not only for the well-being of individual accountants but also for the overall productivity and success of our industry.

That’s why in this episode, I want to teach you about the brain and its role in how and why we feel stress. I’ll also share some tips on how to manage stress and make it easier for you to handle all the challenges you face.

Once I learned what I’m going to share with you, I not only began to decrease my stress, but I was able to eliminate stress during tax season.  Yes, you heard me correctly – I am a CPA in public accounting, I have some of the biggest and complicated tax returns in the office, and I do not experience stress during tax season. 

How is that possible?  Let me explain what every accountant needs to know but no one is teaching you.

Where stress comes from

I asked the Smarter Accountant community what they wanted me to talk about on this podcast, and stress was the most popular topic. Many accountants are feeling stressed and overwhelmed on a daily basis.

Just like you, I used to think that things like the job itself, the IRS, clients, the pandemic, and deadlines were causing my stress. I’ve been through decades of tax seasons, so it felt like the stress would never end.

But I’ve since learned that those things are not the real causes of stress. The true cause of stress is our lower, primitive brain. 

This part of our brain has been with us since humans lived in caves, and it’s responsible for keeping us safe from danger. It makes us alert and tells us when to run or stay still.

For example, it’s the part of our brain that makes us feel urgent and check emails even when we’re not supposed to or makes us feel overwhelmed when we have a long to-do list. Our primitive brain is always on high alert, looking for threats.

The problem is that our primitive brain sees many things as threats now, even though they’re not life-threatening. It gets triggered by things like work emails, notifications, and deadlines. 

This triggers a stress response in our body, preparing us to fight or run away. Our heart beats faster, and our body gets ready for action.

But it’s important to understand that it’s not the actual work or deadlines causing the stress. It’s our primitive brain perceiving them as threats and setting off our body’s stress response. Our brain reacts as if we’re being chased by a lion.

Unfortunately, as accountants, we’re often told that stress is normal because of our work and deadlines, but that’s not true. We need to learn how to use our higher brain, the executive functioning part, to communicate with and manage our primitive brain. We need to find a way to turn off the stress response.

Changing jobs or circumstances won’t solve the problem because wherever we go, our brain goes with us. The key is to understand that more work doesn’t mean more stress. The only thing causing stress is our lower, primitive brain thinking there’s danger everywhere.

If you want to reduce stress and be more productive, you need to learn how to be aware of and manage your lower brain.

The importance of brain management

Managing your brain is super important, especially for accountants dealing with stress and overwhelm.

Brain management means figuring out how to stop your brain from creating the feeling of stress and overwhelm. In my coaching program, I teach my clients a simple but powerful formula called The Model. 

It helps them understand what their lower, primitive brain is doing and how their higher, executive functioning brain can take charge.  The great thing about learning this formula is that once you know how your brain works and how to manage it, you can significantly reduce your stress and overwhelm.

When you’re able to control your brain better, you become a much Smarter Accountant. Stay tuned for future episodes where I’ll share more about The Model and how it can help you, but for now, just know that there is a simple but powerful formula that will help..

The truth is that when you can take charge of your brain more often, that’s when you can become a much Smarter Accountant.

Becoming a Smarter Accountant

While it’s normal for accountants to feel stressed and overwhelmed, it’s not because of things like deadlines or a long to-do list. The feelings of stress and overwhelm are actually caused by our brain’s interpretation of those circumstances.

We have a lower part of our brain that I call “The Toddler,” and it’s in control of our lives 80 – 90% of the time without us even realizing it. Because of this lower, Toddler part of our brain being in charge most of the time, it can make our lives feel out of control.

But here’s the good news: you don’t have to let the Toddler run your life. You have a higher, executive functioning part of your brain I call the “Supervising Parent,” and you can learn to use it more often and intentionally.

The most important thing to understand from this episode is that stress and overwhelm are actually optional. How?  Because they are feelings, and feelings are only ever caused by our thoughts, not the circumstances around us.

Many of us believe that our circumstances, like tax season or a busy schedule, are what makes us feel stressed. But that’s not true. It’s actually our thoughts about those circumstances that create the feelings of stress and overwhelm.

For example, let’s say it’s April 1st and the tax deadline is approaching. A typical accountant might think, “There’s too much to do,” and automatically feel stressed. This leads to unproductive actions like spinning in confusion about what to do next, procrastination, and snapping at people.

But a Smarter Accountant can choose to think a different thought, like “Just one thing at a time,” which creates a feeling of focus. With this feeling, they can make a plan, use their time wisely, and take productive actions to make tax season easier.

The key is to be aware of the thoughts creating the feeling of stress and intentionally choose ones that create better feelings and results. Stress is not caused by the circumstances themselves, but by our thoughts about the circumstances

Becoming a Smarter Accountant means understanding that your feelings are optional.  You don’t need anything to change in your circumstances to feel better and get better results. You can choose how you want to feel, even during deadlines.

It’s important to understand that we have over 60,000 thoughts a day creating a lot of feelings like stress and overwhelm.  You need to become more aware of some of those thoughts so that you can use your higher brain to reduce stress and overwhelm.

Remember, stress is always caused by a thought from our primitive brain. And you have the power to choose better thoughts and feelings. Every single time.

My 3 secrets for having a stress-free day or a stress-free tax season   

If it seems impossible to have a stress-free day or a stress-free busy season, I’m here to honestly tell you it’s not.  Your resistance to the idea and your doubt is perfectly normal because you’ve probably never allowed yourself to believe that it was possible.

But that’s the first secret I want to share with you – you have to be open to the idea that it’s possible.  That wonderful, smart accountant brain of yours will always show you proof of what you believe to be true, so if you believe it’s not possible, that’s all your brain will look to prove true.

It will offer you thoughts like “It’s a nice idea, but it’s not possible for me” or “It sounds interesting but it’s probably too complicated”.  I completely get it because that’s what I thought at first as well.

Stress was such a familiar feeling, that being open to the idea that I could be stress-free and get more work done, be more efficient, and be happier, seemed like crazy talk.  Since I wasn’t surrounded by examples of stress-free accountants, I had to show my brain it was possible by looking at other areas of my life where I had used the tool I learned, and had dramatically reduced my stress.

The second secret for having a stress-free busy season is that it’s easier than you think.  Once I learned how to manage my brain, I felt better in many different areas of my life, but I never considered applying what I learned to something like my stress at work because I believed that stress was just part of the job of being an accountant; as if it was just an irrefutable fact.

Like many accountants, I made the connection between the feeling of stress and being able to get through deadlines, as if stress was the necessary fuel in order to make it possible to get all my work done.  Thankfully, I learned that that’s completely false and that the truth is that stress actually wastes time and decreases productivity, making it a horrible fuel to use if you want to be productive and efficient.

It’s important to know that the lower, primitive part of your brain does not want to change anything that’s familiar because something like learning to think differently expends energy.  Remember, that the lower brain is motivated to seek pleasure, avoid pain and be efficient, so it will offer you thoughts that will resist the idea of changing a strongly held belief, like the belief that stress is just part of busy season.

The key with this, is having a compelling reason to want to override the toddler part of the brain when it doesn’t want to believe something different, and throws a tantrum.  The most important thing is that you have a compelling reason, and that it needs to be more powerful than your resistance to the idea of a stress-free busy season.

If you are feeling resistance right now to this idea that you can have a stress-free busy season, that’s totally normal, but you should still come up with a strong, compelling  reason why you want to feel less stress anyway.  My compelling reason for wanting to reduce my stress during tax season was my family; I wanted to be there for my husband and my children in ways that stress had made impossible.

My suggestion is to start to think about all the ways that stress has affected you mentally, physically, emotionally and relationally, and open up to the idea that not only is it possible, but it might not be as difficult as you might have been led to believe.

The third secret for having a stress-free busy season is the tool I learned to use for managing my brain which is called The Model.  I’ll be explaining it in more detail in an upcoming episode, but I can tell you it was a total game changer for me professionally and personally.

Like I said before, I was applying this tool to other areas of my life and had never thought to apply it to my level of stress during busy season because I initially didn’t believe it was possible, especially since I had 30+ years of proof at the time that busy season equals stress.

But once I started to apply the tool, The Model, I started to see small changes happening.  I started to have more energy at the end of the day, not be so annoyed at my boss when he put more work on my plate, and I was able to manage my time so much better, getting much more done in less time.

By spending only 10 minutes in the morning using the tool I had learned, I was able to set the tone for the rest of the day.  Working those extra hours that are required during busy season was no longer such a struggle and I was able to be much more focused and productive than I had ever been, plus have more time with my family.

I began sleeping better, my headaches went away, and even my chiropractor noticed a difference in how my body was reacting as I continued managing my brain.  With each day, I was getting better and better at managing the lower, Toddler brain.  

So just know that not only is it possible to have a stress-free busy season, but it’s actually easier than you think.  You absolutely can have the stress-free life that I’ve been able to achieve, without things like meditation or medication, by just unlearning some things and then learning and applying the 3 secrets I’ve shared.

If you’re feeling stressed and overwhelmed, thinking you’ve tried everything, don’t worry. There is a solution, but you need to let go of some limiting beliefs about what’s considered normal for accountants.

Stay tuned as I help you challenge those limiting beliefs. Also, if you’re curious about how your accountant brain measures up, I recommend taking The Smarter Accountant Quiz at www.thesmarteraccountant.com. 

It only takes 5 minutes and can give you valuable insights.

Lastly, please help spread the word about this podcast among other accountants. The more accountants who learn about it, the more we can change the narrative in the accounting profession.

Remember, you’re already smart, but this podcast will show you how to be even smarter.

Welcome back to the Smarter Accountant podcast.  So what does brain science have to do with accounting and why is it so important for accountants to understand?

As I shared in episode #1, what I have learned in my personal growth studies and my Professional Certified Coach certification has helped me immeasurably in my accounting career.  Understanding how my brain works and how to manage it has made the biggest impact, both professionally and personally.

The funny thing is that I’ve been studying this for over 10 years and only recently heard about a term called “neuro accounting.” Neuro accounting, also known as neuroscience in accounting, is an emerging field that combines principles of neuroscience with accounting practices to better understand and explain financial decision-making processes. 

I’ll be doing a podcast on neuro accounting at some later date but here’s what’s really great about this podcast – I can explain complicated topics in a simple way. All you need to know right now is that every week I will be showing you how important it is to understand your brain as an accountant. 

In episode #1 I explained that the simplest way to look at our brains is dividing it into two parts – the lower, primitive brain that I refer to as the Toddler, and the higher, executive functioning brain that I refer to as the Supervising parent.  Every accountant, who hasn’t been coached by me, is allowing the lower, primitive brain to run their careers and their lives.

Honestly, it’s not our fault because no one is teaching us this important information.  We’re learning the latest accounting technology, but not what makes it possible for us to use that technology.

In episode #1 I also talked about how the primitive brain has been with us since humans lived in caves and is the part of our brain that runs our lives 80 -90% of the time.  It is also motivated by three things – to seek pleasure, to avoid pain, and to conserve energy.

As you listen to each week’s episode, I will keep referring back to all this because it is the foundation of understanding, in the simplest way possible, how your brain works.  When you understand how the lower, primitive brain works, you can also create awareness of the problems it creates. 

You’re also going to want to remember that your higher brain, the prefrontal cortex, is only present in humans and it’s super power is to think about what we think about.  It’s the part of the brain that helps you make decisions, helps you plan, and can delay gratification; it’s the part that can make you a Smarter Accountant.

Learning how to intentionally use this part of your accountant brain is the secret to overcoming all the issues that typically plague accountants.  Honestly, my coaching clients tell me all the time that they wish they had learned this earlier and don’t understand why we’re not taught this early on in school.

As I like to tell my coaching clients, we have the best piece of machinery on the planet, bar none, and no one has ever given us the instruction manual.  We have no idea how our brain works, all the amazing features available, and how we can manage our brains.

This podcast will be the place where brain science meets accounting, helping to simplify and improve your awareness of the importance of mind management.  I believe it’s essential for accountants to understand the cause of problems so that we can change the effect.

That’s what my book, “The Smarter Accountant” is all about and why I wanted to do this podcast in the first place.  The world needs Smarter Accountants; not burned out, stressed out, frustrated accountants that dread going to work, who are overwhelmed by everything happening both professionally and personally, and who are considering walking away from the profession.  

Accountants need support, and I know what will make all the difference – learning how to be a Smarter Accountant.  As I said before, every client I’ve ever worked with and coached has said to me, “Why are we never taught this in school?  We need to learn this sooner rather than later!”

I couldn’t agree more, and that’s why I believe this podcast will be a game-changer for the accounting industry.  We need to learn how to manage our brains so that we can manage everything else.

Applying Brain Science in Accounting: Examples and Case Studies for Success

As my coaching clients can attest, applying brain science in accounting is a game-changer.  Here are some examples and case studies to illustrate the importance of brain science for accountants:

Emotional regulation and decision-making: Research in neuroscience has shown that emotions play a significant role in decision-making. When we understand the impact of emotions on our decision-making processes, we can better regulate our emotions to make more rational and informed financial decisions. 

For example, a study published in the Journal of Neuroscience found that individuals with better emotional regulation skills were more likely to make advantageous decisions in a financial context. Accountants who develop emotional intelligence and regulate their emotions effectively can make sound judgments and provide valuable financial advice to clients.

Attention and multitasking: As accountants, we often face a multitude of tasks and responsibilities simultaneously. Understanding the limitations of the brain’s capacity to multitask can help us prioritize our work and avoid cognitive overload. Research has consistently shown that multitasking decreases productivity and increases errors. 

For instance, a study conducted at Stanford University revealed that heavy multitaskers perform more poorly on cognitive tasks compared to individuals who focus on one task at a time. By learning how to manage our brains, we can improve our efficiency and accuracy.

Neuroplasticity and skill development: Neuroplasticity refers to the brain’s ability to adapt and reorganize itself based on experience and learning. By embracing the concept of neuroplasticity, you can actively seek continuous learning opportunities to develop new skills and improve your performance. 

For example, studies have demonstrated that practicing new skills and engaging in deliberate practice can lead to structural changes in the brain, resulting in enhanced proficiency. While we have plenty of continuing education courses to choose from, the most important skill you can learn as an accountant is how to manage your mind.  

Stress management and resilience: As accountants, we often work in high-pressure environments, and chronic stress can significantly impact our well-being and job performance. Understanding the brain’s role in the feeling of stress can help us implement effective stress management strategies and build resilience. 

Research has shown that chronic stress can impair cognitive functions, such as memory and decision-making. By learning how to significantly reduce or eliminate stress and overwhelm, a subject I’ll be covering in next week’s episode, you’ll be able to mitigate the negative impact of stress and maintain optimal brain function.

The Power of Mind Management: Harnessing the Potential of Your Accountant Brain

While it may not seem immediately obvious, as accountants, we can truly benefit from understanding brain science.  Here are some key areas where brain science can significantly impact our work:

Making better decisions: As an accountant, we help people make decisions about their money, but by understanding how the brain makes decisions, you can not only make better decisions for yourself, but also help your clients make better choices as well.  If you do not know how to manage your brain, you are letting the lower, more reactionary part of your brain make decisions for you.  

It’s like letting a toddler run your professional and personal life.  And let’s be honest – I don’t know any accountant that wants a toddler running their career or their life.

Improving emotional intelligence: Since the introduction of the concept of emotional intelligence, numerous studies have been done, pointing to the fact that emotional intelligence (or EQ) is becoming a better predictor of professional success than someone’s IQ.  Some of the results of those studies show that Emotional intelligence is responsible for 58% of your job performance and that 90% of all top performers have a very high emotional intelligence.  

In addition, in 2015, Grant Thornton UK presented the results of a five-year organizational transformation in which emotional intelligence was built into its leadership training, resulting in a 35% revenue increase and a 16% uplift in client satisfaction, and partners at another large US public accounting firm found that those with significant strengths in self-management contributed 78% more incremental profit than partners without them.  So much for emotional intelligence being a “soft skill”!

Recognizing cognitive biases: Everyone has cognitive biases, which are mental shortcuts or patterns of thinking that can lead to errors in judgment. By understanding these biases, we can be more aware of them in our own thinking and help clients recognize and address biases in their decision-making.  Awareness is the key when it comes to your brain’s role in cognitive biases. 

Awareness of cognitive biases allows accountants to foster a more rigorous and unbiased approach to our work, enhancing the accuracy and reliability of financial information.

Improving communication: As accountants, we not only need to communicate complex financial information to non-experts, but we also need communication skills to function in all areas of our lives.  Whether it’s dealing with a difficult client or a challenging mother-in-law, brain science can help us not only improve our communication skills, but begin to understand others better. 

By learning how the brain processes and retains information, it can help us improve our communication style to be more effective and engaging professionally, as well as learning our brain’s role in communicating with anyone, professionally or personally.  Improved communication can make our professional and personal life easier.  

Managing stress and workload: There’s no denying that as accountants, we often work in high-pressure environments with tight deadlines. Understanding the effects of stress on the brain can help us manage our workload and prioritize tasks more effectively.  

In next week’s episode I’ll be talking more about stress, but for now, just know that when you learn your brain’s role in your feeling of stress, you’ll be amazed at how much easier it is to have the career and the life you want. You’ll be able to maintain mental clarity and make sound judgments, even in demanding situations. Understanding the brain’s role regarding stress can lead to a better work-life balance and a more fulfilling career.

Managing our time: As accountants, time is incredibly valuable but it seems like there is never enough time to get everything done.  Better time management for accountants is a topic I’ll be discussing a lot on this podcast because understanding your brain’s role in managing your time and how you can get more done in less time will be a game changer for you both professionally and personally.  

I am passionate about teaching accountants how to be more productive without burning out in the process which is why I created a process that blends brain science with time management.  I’ll be talking more about that in upcoming episodes, but for now just know that until you learn how to manage your mind, you will not be able to effectively manage your time..

So, while you might not see the connection between brain science and accounting right now, I promise you that as you continue to listen each week you’ll begin to see the light.  Understanding how the brain works can help you be more effective in your work and better serve your companies and your clients.

Applying Brain Science in Accounting: Testimonials and Examples

Here are just a few of the things my accountant coaching clients have said about learning how to manage their brains in my 6-week coaching program, The Smarter Accountant Program:

One client shared, “I was skeptical at first, however, I can say this was one of the BEST investments I made! Learning how to manage my brain was pivotal to completing more tasks and honoring my commitments that I made to myself via my calendar. I truly believe this program has reduced my stress and has equipped me with the tools to manage my time better.”

Another client explained, “After learning the process for managing my brain, I am aware of my thoughts and the feelings they provoke. The power they have over every action I do or do not take, is amazing. I am looking forward to tax season for the first time in years and actually feel I have control over my day. I recommend this program for any one that feels overwhelmed on a daily basis by the tasks they face and is struggling to find peace.”

A recent client just shared, “The Smarter Accountant program has been a game changer for me, both professionally and personally. Although I am still in the early days of applying these principles, I can already see the impact in my more intentional thoughts and lowered stress level. I can’t wait to see where my work together with Dawn takes me next!”

Those are just a few of the testimonials of accountants just like you who have struggled with various things in the accounting career and their lives.  Learning how to manage their brains changed all that.

So what does brain science have to do with accounting?  Everything!

You’ll hear me repeat this a lot, but when you learn how to manage your brain, you can manage everything else.  And thankfully, it takes a small investment of your time to learn the invaluable skill of managing your brain.

By applying brain science to accounting, clients have been able to:

• Significantly reduce stress and overwhelm
• Gain a competitive advantage 
• Create more time
• Achieve any goal they set, whether it’s personally or professionally
• Have a sustainable career and a balanced life
• Ward off burnout
• Create a legacy they can be proud of
• Become a better leader
• Become a Smarter Accountant

Thankfully, brain management makes that, and more, possible.

As accountants, we need a simple way to manage our accountant brains and I can show you how.  Let’s face it, as accountants we’re already smart, but we can be so much smarter when we stop underutilizing our brains.

Okay, that’s what I have for you today.  Make sure you tune in next week when I discuss the accountant’s guide to stress reduction.

If you want to see how your accountant brain currently measures up, I suggest you take The Smarter Accountant Quiz.  It’s the starting point to see if and how you are underutilizing your accountant brain.

It only takes 5 minutes and you can check it out at www.thesmarteraccountant.com

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.

Don’t forget – the truth is that you’re already smart, but this podcast will show you how to be smarter.

Welcome to the first episode of The Smarter Accountant. I’m so happy that you’re joining me. If you haven’t listened to the trailer for this podcast, let me quickly share a little about me and this podcast.

I am Dawn Goldberg. I am a CPA. I’ve been a CPA in public accounting for over 30 years. I have worked for some of the big firms like Deloitte & Touche and Ernst & Young. I am the CEO of The Smarter Accountant and the author of my book, “The Smarter Accountant.”

The reason why you’re going to want to listen to this podcast each week is that I’m going to cover subjects that affect every accountant, whether you’re in public or private accounting, an employee or an entrepreneur, or just starting out or ready for retirement. I’ll be discussing things that every accountant can relate to, like:

• Stress and overwhelm, especially during deadlines.
• Working too many hours.
• Better time management, specifically for accountants.
• Improving your productivity without burning out in the process.
• Making more money
• Improving self-confidence and dealing with imposter syndrome
• Setting better boundaries.

You’re going to learn from someone that has been there, done that. I’ve had horrible bosses; I’ve worked with the difficult clients; I’ve been on the verge of burnout; I’ve questioned whether I wanted to continue being a CPA or not. I promise I’ve had all the struggles you’re probably going through and more.

This podcast will be like having your own personal mentor, but what makes me even better is that I don’t work for the same company as you. I have no allegiance to anyone other than you, the listener. I have no hidden agenda other than helping and supporting you to get what you want.

Since I was born and raised in NY, just outside of Manhattan, I’m bringing a no-nonsense, telling-it-like-it-is approach. In other words, I’m not going to sugarcoat things. This podcast will be direct, intelligent, and incredibly informative.  

I’m going to teach things on this podcast that no one is teaching accountants in any classroom, CPE seminar, or accounting webinar. Unless you’ve read my book or heard me speak somewhere, you haven’t heard what I teach and coach accountants on.

The truth is that I’ve walked the walk, so now I’m going to talk the talk. I decided that a podcast is the best way for me to share what I know and what YOU need to know.

The good news is that no one is teaching what I teach, so you’ll be hearing things that no other accounting podcast is discussing. Besides being a CPA, I am also a Professional Certified Coach for Accountants, so I’m not ashamed to say that every accountant needs to know what I’ll be teaching, so make sure you share it with your fellow accountants.  

Let’s face it; accountants need help. Accounting is not a profession for the faint of heart. It’s for smart people who want to do smart things. I’m going to show you how to be smarter. And what accountant doesn’t want to be smarter?

That is the perfect segue into my topic for today – what it means to be a Smarter Accountant.

The reason I chose this as the first episode is that when you become a Smarter Accountant, you’ll see through the lies you’ve been telling yourself about what is “normal” for accountants. You’ll be able to have the accounting career, business and life you want.

Once you learn what I’m going to teach you each week on this podcast, you’ll gradually be able to see how much control you have over things in your work and personal life and how to achieve any goals you’ve set.

Time and time again, my coaching clients tell me, “You do know that this is life-changing, right?”. To which I answer time and time again, “I know! That’s why more accountants need to know this”.  And it’s why I believe this podcast will be so helpful for you.

The truth is that no one is teaching you how your brain works and how you are underutilizing it. If you haven’t taken The Smarter Accountant Quiz on my website, I would suggest after listening to this episode, you go over to www.thesmarteraccountant.com and take the quiz.

But for now, let me explain what you need to know.   

Let me first say that before understanding what I’m going to share, I had no idea how much control I had over so many things in my professional and personal life. Like you, I had normalized many of the issues accountants deal with.

I’ve been in public accounting for over 30 years so I’ve had decades of the same issues that you’re probably having – never-ending stress and overwhelm, working too many hours, feeling like there’s never enough time, having difficulty setting boundaries, dealing with imposter syndrome and more.  Thankfully, all that changed once I understood how to manage my brain.

To provide an overview of what I learned and what I teach my coaching clients, it’s important to understand something about your human brain – we have two main operating systems going on in our brains that you need to get familiar with. Knowing the difference between the two and understanding how to manage them is going to be the starting point to help you become a Smarter Accountant.

In Nobelist Daniel Kahneman’s bestseller, “Thinking, Fast and Slow,” he describes the two systems in our brain as simply System 1 and System 2. I was taught that System 1 is your primitive, lower brain and System 2 is your executive functioning higher brain.

In the simplest terms possible, System 1, your primitive brain, runs the show more than 80% – 90% of the time. This part of your brain is referred to as the reptilian brain and has anatomically been with us since before we were cave dwellers.

One of the key elements to understand is that this primitive part of your brain is motivated by three things (also referred to as the Motivational Triad):

• Seek pleasure;
• Avoid pain;
• Be efficient/save energy;

System 1’s job is to keep you safe and alive, and it takes that job very seriously. It releases feel-good chemicals when it interprets that pleasure is present, it releases fear-based chemicals when it senses danger is present, and it likes things to be in familiar, comfortable patterns.  

It’s the part of the brain that I often refer to as the “Toddler” because, just like a toddler, it throws a temper tantrum whenever something doesn’t fall into one of those 3 categories – it needs to be pleasurable, not painful, and familiar, or else. This toddler part of the brain is all about immediate gratification and doesn’t think in terms of the “big picture” or in the long term.

System 1 sees many of the challenges that accountants face as life-threatening and will typically throw up huge warning flares. Since its job is to keep you safe, and most of the challenges accountants deal with do NOT fall into the category of pleasure (i.e., deadlines) or efficiency (i.e., needing to learn new things constantly), then they must be avoided, according to System 1.

On the other hand, System 2 is the prefrontal cortex, a higher-level part of the brain that is only present in humans. The superpower of this part of your human brain is that it allows you to think about what you think about, and it can manage the primitive brain of System 1.

I like to refer to System 2 as the “Supervising Parent” because this part of your brain can think rationally and can see the big-picture benefits that the Toddler can’t. System 2 is the part of the brain you use to make decisions and is one of the most underutilized parts of your accountant’s brain because you’re often reacting with the primitive brain, or System 1.

The good news is that you can use System 2 to override System 1, allowing you to face and conquer any challenges that arise and helping you deal with the negative effects of the Motivational Triad. This is why brain management is incredibly important, especially for accountants.

Brain management is understanding how these two systems can be managed and mastered to become a Smarter Accountant. The best part is that once you understand how these two systems operate and how to manage them, nothing is standing in the way of you having the accounting career and the life you want.  

When you can take charge more often and be the Supervising Parent, as opposed to the rambunctious Toddler, that’s when you can become a much Smarter Accountant.

The issue for most, if not all, accountants is what the authors of the book “The 15 Commitments Of Conscious Leadership” refer to as “living below the line .” Most accountants let System 1, their lower Toddler brain, run the show more than 80% of the time without being aware that they’re doing it.

They unknowingly let System 1 dictate things, creating an unmanageable life. When you are living below the line, you are letting the Toddler decide for you.

I don’t know about you, but the last thing I want is a Toddler running my accounting career, my business, or my life. Unfortunately, that’s exactly what most accountants are unknowingly doing, and it’s also where accountant’s tendency to argue for their limitations comes from.

In other words, as accountants we tend to believe that if something is “normal” for us and other accountants, then there’s nothing we can do about it and in a warped way, we want to argue for our problems.  We let the Toddler part of our brain run our lives without realizing that’s what is happening.

For example, I just had a free 30-minute coaching call with an accountant who started out by saying they had a “healthy skepticism” about coaching but also didn’t think that their time management was that bad even though they worked over 80+ hours a week.  When I asked whether they wanted to work 80+ hours a week, they said they never questioned whether they wanted to – they just assumed that that was expected.

I explained that the key to time management that no one is teaching accountants is that you first have to understand how to manage your accountant brain before you can better manage your time.  They said they just weren’t convinced that anything could be done to better manage their time than what they were already doing.

Therein lies the problem – they were using their Toddler brain to argue for their right to keep working 80+ hours.  Their Toddler brain was running their life and convincing them that that was just the way things had to be. 

To be a Smarter Accountant, you need to learn how to start “living above the line.” You need to start using System 2, the higher part of your human brain, the Supervising Mother/Father, more often and more intentionally.  

Every week I’ll be sharing more about taking charge of your accountant brain, but for now, just know that becoming a Smarter Accountant matters:

• If you want to reduce or eliminate stress dramatically
• If you want a competitive advantage 
• If you want to create more time for what matters to you – the things and the people you love
• If you want to achieve any goal you set, whether it’s personally or professionally
• If you want a sustainable career and a balanced life
• If you want to ward off burnout
• If you want to create a legacy that you can be proud of
• If you want to make a positive impact on others
• If you want to be an example of what’s possible (my personal favorite!)
• If you want to change what’s not working
• If you want to make a difference

If you are an older-generation accountant, my hope is that you are open to challenging your limiting beliefs. You earned it.

If you are at a mid-career point in your accounting career, I hope you begin to create a vision of what you’d like for your life and career moving forward. You deserve it.

If you are just starting your career or still an accounting student, I hope that you forge your unique path and do things differently than those who have come before you who are experiencing many of the issues most accountants deal with. You are the future.

Here’s the last thing I’ll leave you with – the world needs Smarter Accountants, not burned-out, stressed-out, frustrated accountants that dread going to work, who are overwhelmed by everything happening both professionally and personally, and who are considering walking away from the profession.

That’s what I have for you, but 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.