When it comes to practice management, I've tried to learn as much as I could from whatever source or person I could. This means reading articles, blogs and books, listening to podcasts, and attending webinars and live presentations. There's a lot more, but these are constant activities. Recently I spoke with some people who do none of these, or as little of them as possible.
I'm incredulous when I hear this, but some of them are extremely successful and I asked them what they do. Following are some of their responses.
- They learn by trial and error.
- They learn by thinking through the situation.
- They learn by doing and pick up what they do not know.
- They learn by observing.
- They are able to think logically.
- They have discussions with their partners.
- They have discussions and interactions with colleagues.
- They "think" they learn by osmosis.
They are obviously very smart and have the raw materials to manage. However, I know what I have learned by doing everything I suggested at the beginning of this column. I also find that whenever I attend a Management of Accounting Practice program, I always learn something new. There is just too much to know, and whatever I learn reduces the gap between what I need to know and what I know.
In addition to the obvious learning situations, I am lucky to get dozens of calls a month from colleagues who share their difficult issues and ask me what I think. I am gratified to help them, but I also walk away learning something, so there is a mutual benefit. No one knows everything or has seen everything or can envision every type of problem. By reading and attending programs, you can hitch a ride on the experiences of others.
Another way I learn is by writing an article or presenting a speech. In those situations, I organize and cover material I pretty much know, but I am expected to deliver a "Wow!" takeaway. That requires me to extend myself and my experiences and reach for some fresh, new, innovative and/or cutting-edge ideas. That is another learning experience for me. I learn by creating learning opportunities for others.
I know colleagues who do not take advantage of outside learning opportunities that do well, but I sometimes wonder how much better they would do if they stretched themselves outside their own minds for added growth. They grow pretty well by not learning, but I do not think that is enough.
I believe we each have a responsibility to do the best we can whenever we agree to do something. Running a business is extremely difficult and you need every advantage to do the best you can. Whether you are a solo or a partner in a practice, there is a responsibility to your staff, partners, clients and all stakeholders, including your family, to maximize what you can get out of the business. Not doing your best, in my opinion, makes you derelict in your duties.
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