Pete’s Blog

The Ethics of Economy: Accountants Can Lead the Way

From the desk of Peter Margaritis
While I do not mix politics or religion with business, I do want to share a speech from a man who is both a religious leader and a strong voice in the call for caring and sharing among all people. Last month the World Congress of Accountants met in Rome. Among the many professional sessions and speaker, one presenter stood out:  Pope Francis. His speech was a call-to-action for accountants to be leaders and advocates for improving economic conditions for all people through ethical behavior. He said, in part:

 

“You professional accountants, on your activity, are alongside businesses but also families and individuals, to provide your economic and financial counsel. I encourage you always to act responsibly, fostering relations based on loyalty, justice and, where possible, fraternity, tackling with courage, above all, the problems of the weaker and the poorer. Giving concrete answer to economic and practical questions is not enough; there is need to raise and cultivate an ethics of the economy, of finance and of employment; there is need to keep the value of solidarity alive – solidarity, a word that today risks being removed from the dictionary – solidarity as a moral attitude, an expression of the attention to other people and their legitimate needs.

 

If we wish to leave to future generations an improved environmental, economic, cultural and social heritage, we are called to take up the responsibility to work for globalizing solidarity. Solidarity is a need arising from the same network of interconnections which develop together with the globalization. And the social doctrine of the Church teaches us that the principle of solidarity is effected in harmony with the principle of subsidiarity. Thanks to the effect of these two principles, processes are at the service of human beings and justice grows, that justice without which there can be no true and long-lasting peace.”
Read the complete speech here.

Building a Better Network

From the desk of Peter Margaritis

Is it better to surround yourself with people just like you, or is a diverse group of colleagues? For many of us, it is more comfortable to stay within a network of like-minded people who look, talk and act like us.  Accountants who network with accountants may discuss interesting initiatives and issues within their profession, but they will not learn what is impacting people (read potential clients) in other professions.

Building a stronger professional network depends on going outside your comfort zone. Networking outside your profession can offer you new ideas, diverse opinions and exposure to various professions. For young professionals, establishing a diverse network is really important to ongoing success and job satisfaction.

An AICPA blog post, The 7 Types of People You Need in Your Network, talks about how to build a well-rounded network.  Develop a strategy for developing your network that includes people who fulfill specific roles:  Mentors, Peers, Influencers and Prospects. Three others groups – Cheerleaders, Grounders and Connectors – are, I think, more difficult to cultivate but critical to your success.

Cheerleaders – In every career, something goes wrong. Clients leave, accounts are lost, mistakes are made. We all need trusted friends and colleagues who know us, believe in us and will stand by us when things are not going well. A cheerleader helps lift the fog and lets you get back to the business of doing business.

Grounders – If Cheerleaders pick us up, Grounders ensure we don’t fly out into orbit! Think of these folks as the realists in your network. They challenge you, encourage you to push harder and are the people you can count on to help you think through your biggest ideas.

Connectors – This under-developed group are the folks who offer you access to their network. While many people you meet will not do this, the Connectors take pride is offering contacts, information and resources to help you succeed.

Networking does take effort but you will reap benefits. Identify opportunities within your professional and personal communities to meet diverse groups of people. Whether it is your local Chamber of Commerce, a charity that you care about, Rotary or Kiwanis, or the PTA at your child’s school, get involved. For networking, showing up is half the job.  Actively participating is the rest.

What If The Gettysburg Address Was Given In Buzz-Speak

From the desk of Peter Margaritis

lincoln-gettysburg-address-speech-analysisI think the Gettysburg Address is a brilliant speech – no arguments there. In fact, over 200 years later, it still invokes President Lincoln’s passion.

But what if it were given today? I started thinking about his eloquent words and how the speech would sound if corporate buzzwords replaced his words.  So here it is, my buzzword version.

Fourscore and seven years ago our “stakeholders” brought forth on this continent, a new nation, conceived in Liberty, and dedicated to the “value proposition” that all men are created on a “net net basis.”

Now we are “operating in the space” of a great civil war, testing whether that nation, or any nation so conceived and so dedicated, can “add value” while “moving forward.” “The game changer” came we are met on a great battlefield of that war. We have come to dedicate a portion of that field, as a final resting place for those who here gave their lives that that nation might live. “It is what it is” that we should do this.

But, in a “10,000 foot view”, we cannot dedicate-we cannot consecrate-we cannot hallow-this ground. The brave men, living and dead, who struggled here, have consecrated it, far above our poor power to add or detract. The “big picture” will little note, nor long “mis-remember” what we say here, but it can never “literally” forget what they did here. It is for us the living, rather, to be “robust while moving forward” here to the unfinished “new paradigm” work which “pushed the envelope” they who fought here have thus far so nobly advanced. “At the end of the day” it is rather for us to be here “content” to the great task remaining before us-that from these honored dead we take “win-win” to that cause for which they gave “110%” of the last full measure of devotion-that we here “pro-actively” resolve that these dead shall not have died in vain-that this nation, under God, shall see “the glass as half full” and have a new “out-of-the-box” freedom-and that “intellectual capital” of the people, by the people, for the people shall not perish from the earth.

Customer Service Extraordinaire: Ciao Bella, Part Deux

From the desk of Peter Margaritis
Damien, The Bartender
Damien, The Bartender

In my April newsletter I wrote about the outstanding customer service experience I enjoyed at Ciao Bella, an Italian restaurant in Bloomington, MN. Well, I was back in Bloomington to deliver two seminars for the Minnesota Society of CPAs, was staying at the same hotel, and couldn’t wait to have dinner at my favorite restaurant.

It was a Sunday evening, and the restaurant wasn’t crowded so I had my pick of barstools. I assumed that most residents were busy getting ready for the big snowstorm that was predicted to drop a foot or more of snow in the area. Since it had been seven months or so since my last visit to Ciao Bella, I wanted to see if my first experience there would be repeated.

I ordered a drink from a bartender, Damien, who served me during  my first visit. As he was making the drink he took one look at me and said, “You’ve been in here before, I just can’t remember the details but I remember you.” Wow, I did not expect anyone to remember me so I introduced myself, told him the story about my

Sue, The Great Manager
Sue, The Manager

first visit to the restaurant. Damien immediately put two-and-two together and thanked me for the generous tips I had left (great service deserves generosity). A bit later I saw Sue, the manager, and asked her to come over. Same thing – with a bit of story telling she recognized me and was happy I had returned.

I enjoyed dinner there a couple of evenings  – the only thing that exceeded the wonderful food was the exceptional service. Once again, if you ever visit Bloomington go to Ciao Bella. Say hi to Damien and Sue, and tell them Pete Margaritis sent you!.

 

 

(On a side note – Bloomington received about 3 inches of snow but 20 miles north they had a foot or more. Kinda reminds me of snowfall in Cleveland.)

You Know You Are Stressed If…

From the desk of Peter Margaritis

 

    • • Does your blood-pressure goes up whenever your boss walks in the room?
    • • Do your shoulders and neck feel tight all the time?
    • • Do you dread the commute to work and hate the drive home?

If you said yes to any of these questions, then you know you are stressed!

It isn’t a joke – most Americans, 80% according to one study, are stressed at work. Sometimes the worries of their personal lives carryover to the workplace. Sometimes low pay, unreasonable workloads and hostile work environments are the root of the problem. Whatever the reason, managing our own stress is critical to our relationships, our sense of achievement and our personal happiness.

A Harvard Business Review online article offers some techniques to handle those stressful moments. The one I use most often: take a few deep breaths. I never really thought about why this works, but it seems that taking deep breaths “ignites your parasympathetic nervous system, which induces a relaxation response.” Good to know.

Long-term, we all need to know what triggers our own stress and finds ways that work for us to relief the tension. Identify those issues that you can influence and make necessary changes. If driving in bumper-to-bumper commuter traffic sets you off, look for alternative routes or leave home earlier. If unreasonable deadlines at work cause anxiety, talk with someone who can help manage the schedule rather than stress-out over it.  While you certainly can’t control everything you can and should eliminate as many stress triggers as possible.