Today, I want to talk about something that can be uncomfortable for us as accountants—making mistakes. Mistakes happen, no matter how careful we are.

Think about the last mistake you made. How did it make you feel? Maybe you felt annoyed, disappointed, or even embarrassed. Maybe you kept thinking about it, wishing you could go back and fix it. This is normal, and you’re definitely not alone.

Even the people who seem upset or angry about your mistake have made their own at some point. The truth is, everyone makes mistakes. What really matters is how we deal with them.

As accountants, people expect us to be perfect with numbers, but we’re only human, and mistakes can happen. It’s important to face these mistakes because it helps us grow, both personally and professionally.

When we make a mistake, it can feel like the end of the world. We might worry about what will happen to our job, our reputation, or our relationships with clients and colleagues.

This fear can be overwhelming, leading to stress, anxiety, and feelings of failure. But it’s important to remember that making mistakes is part of life and can actually help us learn and get better.

By talking about our mistakes openly, we can get rid of the negative feelings that often come with them. This helps us approach our work with a healthier mindset, reducing the pressure to be perfect and creating a space where growth and learning are what really matter.

When we can admit our mistakes without fear, we become stronger and better at handling challenges in the future.

The truth is, understanding why we make mistakes can help us avoid them in the future. Whether it’s because we’re trying to do too many things at once, dealing with too much information, or just making a simple human error, figuring out what went wrong helps us prevent it next time.

This not only makes us better at our jobs but also gives us more confidence and peace of mind.

In today’s fast-paced world, especially in the accounting profession, mistakes can happen more often because of the high demands and pressures we face. Learning how to bounce back from these mistakes is essential for taking care of ourselves and continuing to do well in our careers.

Instead of letting mistakes define us, we can use them as steps to become better accountants and more well-rounded people.

In this episode, I want to help you bounce back from a mistake and stop letting it define who you are. I want to help you stop being so hard on yourself so that you can get back to being human, someone who sometimes makes mistakes.

Now that we know mistakes happen, let’s talk about why we feel so much pressure to be perfect as accountants.

Understanding the Pressure of Perfection

As accountants, we often set really high standards for ourselves. We’re trained to be detail-oriented, precise, and accurate, which is what makes us good at our jobs.

But this drive for perfection can be a lot to handle. How often do you feel like you have to get everything right, with no room for mistakes? This pressure can be overwhelming, and even a small mistake can feel like a big failure.

When you think about it, it’s not really our fault because the accounting profession demands perfection. The financial data we work with has to be accurate, follow the rules, and be reliable for making decisions.

The truth is, mistakes can have big consequences, from financial errors to legal problems, and this high-pressure environment makes us feel like we have to avoid mistakes at all costs. We may not have the same pressure as, say, a brain surgeon, but it can sometimes feel just as intense.

Unfortunately, when we do make a mistake, fear can take over. We might worry about what it means for our job, if our boss will be disappointed or angry, or if we could lose a client. What will our colleagues think?

These worries run through our minds, adding to our stress and anxiety. We worry about our job security, our relationships at work, and our reputation. The fear of being judged or seen as not good enough can be overwhelming.

The problem is that this pressure to be perfect doesn’t just stay at work; it spills into our personal lives too. We might feel like we’re always being watched and judged.

This can make personal mistakes feel even bigger. We worry about letting people down, being seen as less capable, or not living up to the idea of a flawless professional.

This constant pressure to be perfect can be exhausting. It can lead to burnout, stress, and always feeling like we’re not good enough.

I think this is why so many accountants feel like imposters—like they’re not really good enough, even when they are. When they can’t meet the impossible goal of being perfect, they start to doubt themselves.

But it’s important to remember that we’re human. Mistakes are a normal part of life, and they don’t define who we are or what we’re capable of.

The bottom line is, we need to give ourselves and others permission to be imperfect. It’s okay to make mistakes. It’s okay to learn and grow from them.

When we do this, we not only feel better ourselves, but we also set a good example for others. After all, being able to bounce back from mistakes is just as important—maybe even more important—than never making mistakes at all.

Understanding the pressure we face is important, but it’s also key to know how our brains can lead us to make mistakes.

9 Reasons Why Mistakes Happen

We all know that mistakes are a part of life, but that doesn’t make it any easier to accept when we mess up. Today, I want to help you understand why mistakes happen so you can manage them better.

In Joseph T. Hallinan’s book Why We Make Mistakes, he explains nine common reasons why we slip up.

The first reason is that we see only what we expect to see. Our brains focus on what’s familiar or where we think something should be.

This narrow view can cause us to miss things. For example, a study found that airport baggage screeners often miss firearms because they don’t really expect to find them.

The second reason is that we struggle to remember random information compared to things that mean something to us. For instance, it’s much harder to memorize a list of random numbers than to remember your best friend’s phone number.

Our brains are wired to make connections, so remembering your friend’s number is easier because it’s linked to a meaningful relationship, while random numbers don’t have any context.

The third reason is that we make quick judgments based on surface details. For example, when hiring someone, you might judge them quickly based on their appearance or first impression during the interview.

This ability to make fast decisions has helped us survive, but it can also lead us to overlook someone who might not seem like a perfect fit at first but has the skills and experience needed for the job.

The fourth reason is that we simplify complex information to make it easier to understand. For example, when summarizing a financial report for a client, you might focus on the main points.

But in doing so, you might accidentally leave out important details, like specific expenses or income sources. This could lead to misunderstandings or wrong conclusions about the company’s financial health.

The fifth reason is that our brains look for patterns to save time and energy. For example, if you see the same expense every month on a financial statement, you might assume it’s a regular monthly bill.

But this pattern-seeking can cause us to miss details, like an unusual charge that looks similar but is actually a one-time mistake or even fraud.

The sixth reason is that we tend to remember our past actions more positively than they really were. For instance, you might recall managing a project with tight deadlines and little stress.

This rose-colored memory can make you underestimate the time and effort needed for a similar new project, leading to repeated mistakes like poor planning and not anticipating challenges.

The seventh reason is that we overestimate our ability to multitask. For example, you might think you can review a financial report while responding to client emails at the same time.

But our brains can only focus on one thing at a time, so trying to do too much at once can lead to missing important details or making mistakes in your emails.

The eighth reason is that we often misjudge how much we can get done in a short time versus a long time. For example, you might think you can finish a complex audit in just a few days, underestimating the time and effort it really takes.

This overestimation can lead to overcommitting and making mistakes, like rushing through the audit and missing important details, resulting in incomplete or incorrect work.

The ninth and final reason is that being overwhelmed with information and making too many decisions can lead to mistakes. For example, after spending hours going through emails, reports, and data, you might feel mentally drained.

In today’s world, we’re bombarded with information, and this overload can make us rush decisions or miss important details, like accidentally approving the wrong financial transaction or overlooking a critical compliance issue.

When you look at all these reasons, it’s clear that mistakes often happen simply because we have human brains. Being overwhelmed with responsibilities, especially as an accountant, makes mistakes even more likely.

Understanding why we make mistakes helps us see that they’re a normal part of life. When we recognize these patterns, we can be kinder to ourselves and learn to handle mistakes better.

Knowing why we make mistakes is one thing, but how our brains handle those mistakes is just as important.

The Brain’s Role in Dealing with a Mistake

Now that we’ve talked about why we make mistakes, let’s look at how our brains deal with them. When we make a mistake, our brain processes it and can cause us to feel some pretty strong emotions.

The moment we realize we’ve messed up, we might feel a rush of fear or shame. This reaction comes from the primitive part of our brain, which I’ve called the “Toddler brain” on the podcast before. It kicks into overdrive, making us feel like the mistake is a serious threat to our safety or well-being.

For example, imagine you just realized you sent an important email to the wrong client. The fear of what might happen and what others will think can be overwhelming. You might start worrying about your reputation and job security, making it hard to think clearly and respond calmly.

Our brain is known for expecting the worst, which is why this response can be so intense, causing us to feel embarrassed or even panicked. We might start worrying about the consequences and what others will think of us.

The good news is that our brains are also really good at learning and adapting, thanks to something called neuroplasticity, which is just a fancy way of saying that our brain can change and grow by making new connections.

This means that when we make a mistake, our brains can learn from it and change how we respond in the future. It’s like our brain has its own built-in way to help us grow and improve.

For example, if you’ve ever miscalculated taxes for a client, your brain can learn from that mistake, help you improve your methods, and avoid similar mistakes in the future. Over time, your brain gets better at recognizing and fixing potential errors.

To make the most of this ability, it’s important to practice self-compassion. Instead of beating ourselves up over mistakes, we can see them as valuable chances to learn.

By being kind to ourselves and remembering that everyone makes mistakes, we can take the emotional sting out of it and focus on what we can learn from the situation.

Seeing mistakes this way helps us realize they’re not failures, but steps on the path to growth. It’s about changing how we think of mistakes—not as something bad, but as a natural part of learning.

For example, after making a mistake in data entry, instead of harshly criticizing yourself, see it as a chance to review your processes and put in place double-check systems. This simple change in mindset can make a big difference in how we handle mistakes and bounce back from them.

So, the next time you make a mistake, remember that it’s your brain’s way of learning and adapting. Embrace the chance to grow, and give yourself the compassion and understanding you need to move forward.

By doing this, you’ll not only improve your skills and resilience but also create a healthier, more positive relationship with your work and yourself.

Now that we understand how our brains react, let’s dive into some simple ways to recover and move on from mistakes.

How to Bounce Back After Making a Mistake

We all know that stress and feeling overwhelmed can make us more likely to make mistakes. That’s why, as accountants, we need to cut ourselves some slack when we mess up. When we’re always trying to be perfect, despite being stressed out and overloaded, it’s no wonder we struggle with handling mistakes.

But there are some helpful strategies that can make it easier to bounce back after a mistake:

First, own the mistake. Admit it and fix it if you can. Taking responsibility is a good first step toward making things right. It shows honesty and helps rebuild trust with your colleagues or clients.

Next, correct the mistake if possible and learn from it. Figure out what went wrong and think about how to stop it from happening again. Taking action like this turns a bad experience into a chance to learn something valuable.

Finding humor in the situation can also lighten the load. This is one of my favorite strategies when I make a mistake. Sometimes, laughing at our mistakes helps us see them in perspective. It’s a reminder that we’re human and that everyone makes mistakes.

For example, I recently cc’d the wrong person on an email. It was a simple mistake, but at first, I felt that familiar rush of embarrassment. 

Instead of spiraling into stress, I decided to laugh it off. I reached out to the unintended recipient, explained the mix-up, and made sure the right person got the information they needed. By finding the humor in the situation, I was able to handle it more calmly and move on quickly.

Next, avoid beating yourself up and practice being kind to yourself. Remember that everyone makes mistakes. Treat yourself with the same understanding and patience you’d show a friend in the same situation.

Another helpful strategy is to judge others less harshly. When we let others be human and make mistakes without being too critical, we create a more compassionate environment for ourselves. This also helps build a more supportive and positive workplace.

Honestly, this might be the most important strategy because it sets the tone for how mistakes are handled in your work environment. When you practice kindness and understanding toward others, you not only make it easier for them to recover from their mistakes, but you also pave the way for that same understanding to be extended to you when you inevitably slip up.

The final strategy is to focus on having a supportive mindset. Show yourself the same kindness you’d show your kids when they mess up. Encourage yourself to learn and grow instead of getting stuck on the mistake.

Bottom line: Bouncing back from mistakes is about taking responsibility, learning, and being kind to yourself. By using these strategies, you can recover from mistakes more easily and build resilience while improving your overall well-being.

Remember, it’s not about being perfect; it’s about how you handle imperfections that really matters.

Becoming a Smarter Accountant: Successfully Bouncing Back From A Mistake

Let me share a story about a coaching client who learned how to bounce back from a mistake.

This client was a CPA for over 20 years and always took pride in his accuracy and attention to detail. But during a particularly stressful tax season, he accidentally submitted a client’s tax return with a significant error.

Understandably, the client was upset, and the accountant was overwhelmed with guilt and anxiety. He worried about his professional reputation and feared he might lose the client.

As his confidence dropped, he became increasingly stressed, doubting his abilities and fearing he’d make more mistakes in the future.

After joining The Smarter Accountant Program, he learned to confront the mistake head-on. He admitted his error to the client, apologized sincerely, and worked quickly to correct the return.

With my support, he began to see the mistake as an opportunity to learn. He implemented new checks and balances in his workflow to prevent similar errors in the future.

He also started practicing self-compassion, recognizing that everyone makes mistakes and that this didn’t define his professional worth. Over time, he regained his confidence and felt stronger.

By taking charge of his approach, his new mindset helped him manage stress better, leading to a stronger professional and personal life.

Again, we all make mistakes, but what really matters is how we bounce back from them.

Key Takeaway and Action Item

Mistakes are a natural and inevitable part of life, especially in the demanding field of accounting. How we handle these mistakes is far more important than the mistakes themselves. 

By acknowledging our errors, taking responsibility, and learning from them, we can transform these experiences into valuable opportunities for growth. Practicing self-compassion and reframing mistakes as stepping stones rather than setbacks can significantly enhance our resilience and overall well-being.

The next time you make a mistake, take a moment to reflect and ask yourself: “What can I learn from this experience to improve my skills and processes? How can I use this mistake as an opportunity to grow rather than letting it negatively impact my self-worth?” 

This shift in perspective can help you bounce back more effectively and create a healthier approach to both your professional and personal life.

Well, that’s what I have for you.  Thank you for joining me as I discussed bouncing back from a mistake.  I hope you’ve gained valuable insights and practical tools.

As I share all the time, you worked hard to become an accountant; it’s time to make it easier to be one.

If you are struggling with any aspect of being an accountant, you can simply go to www.thesmarteraccountant.com/calendar and book a free session with me.

And make sure you check back each week as I help you go from being a stressed accountant to a Smarter Accountant.

Make sure you go to www.thesmarteraccountant.com and take The Smarter Accountant Quiz. You’re going to want to know if you’ve been underutilizing your accountant brain so that you have a starting point for becoming a Smarter Accountant..

Also, I would appreciate it if you could get the word out to other accountants about this podcast.  The more accountants find out about it, the more we can begin to change the narrative in the accounting profession.

The truth is that you’re already smart, but this podcast will show you how to be smarter.