Career Advice from the Capital Markets

In the Summer 2011 issue of the Pennsylvania CPA Journal, a regular contributor takes an interesting approach to building a professional life. Author David Maturo addresses the disconnect between accounting professionals relying on their technical knowledge to advance their career, when they really need to build their careers as one would think about building a company. In The Company of You: Building Your Professional Life, Maturo observes that the corporation provides a model for successfully functioning in the capitalist markets, and can provide us with a similar form for structuring a satisfying career. In summary, our career path should have the following aspects of a corporation:

• Board and Direction - You need a mission statement and goals to "channel your efforts and focus on an achievable target." You also need a board of investors, bosses, mentors, colleagues who invest in you. Surround yourself with mentors who work outside of your industry or firm, and who aren't afraid to give you constructive criticism or alternative suggestions for your career. Reach out to supervisors and colleagues that are willing to invest in you, by providing you with an opportunity to work on a new client, acquire a new skill, or campaign for your promotion.
• The Revenue Line -Apart from serving external clients in public accounting, we also have internal clients we must answer to, such as partners, managers, and staff. Building good relationships with those we work with on an ongoing basis can support our career progress. We also need to have a strong sales and marketing department, promoting ourselves with a solid resume, professional network, online presence, and self-confidence. Your personal brand is your own PR department. The way you interact with others, dress, communicate via email or over the phone, and deal with mistakes, make up your professional presentation. All these subtle daily behaviors are used by other to judge your competence and potential for leadership. So be careful what your actions say about you.
• The Expense Line - Managing your Finance Department is key to alleviating stress and avoiding being forced to make professional decisions based on salary alone. Effectively managing your personal finances will enable you to focus your attention on more important career decisions other than the size of your paycheck. It's also important for you to invest in yourself to keep up on the latest trends in information technology that can help you stay ahead of the professional curve. I have a friend who is a clinical cardiologist and researcher. He is one of the youngest doctors in his practice, and the only one who has effectively managed his use of IT to the point that it saves him countless hours a week. He has synced his iPad, iPhone, and work computer so that all notes taken during exams, conferences, and meetings are immediately filed on his computer, and can be accessed anywhere from his phone or iPad. He uses his electronic calendar to organize files, reminders, and schedules. IT should be a priority if it can save you many wasted hours on non-value added activities. It's also key for you to have a system of self audit and controls to ensure the quality of your work is consistently good. Lastly, a wellness program for managing your own mental and physical health will keep your work life balance in check, giving you time with family, as well as a chance to relax and creatively think about your future.

You may not be in a position to significantly influence your present organization or profession just yet, but you are the CEO of the Company of You. Taking the same approach to your career as a CEO takes to managing their company, you will be able to manage your professional ambitions and appropriately develop your skills along the way.