Peter Margaritis, The Accidental Accountant

Humor + Workplace = Strong Team

August 12, 2014August 12, 2015 From the desk of Peter Margaritis

Work is, well work…for most of us it is not all fun and games. Even people who do “fun”for a living have stress, anxiety and conflict at work. Can you imagine how stressful it is to do a standup comedy routine or be a party clown? Makes accounting look like child’s play!

I don’t advocate taking the “work” out of your office (you would most probably go out of business) but rather finding ways to put some fun into every day. How you and your team define fun is the first step. Here are a few suggestions that may help:

• Create an atmosphere where camaraderie can flourish. Genuine kindness and friendliness most often set the tone for a more relaxed office attitude. Friends joke around with each other, work colleagues…not so much.

• Encourage everyone to share funny things: cartoons, antidotes, silly things clients or kids have said. One CEO I know starts every meeting with a funny story. His staff feels absolutely free to cheer or jeer, and even pass on stories for him to share. All tasteful and G rated, he never wants to alienate anyone with possibly offensive material.

• Silliness can be appropriate. Sometimes you just gotta be goofy!

Some of the funniest people I know in accounting (that is NOT an oxymoron) are also some of the savviest managers I know. They all understand that creating great teams means fostering trust, respect, support, communication –some of the same skills comedians use!

One of my workshops, Building Stronger Teams by Using Improvisational Comedy, is all about creating strong teams through humor and improvisation. It isn’t rock science but it does take commitment and a bit of work. And a commitment to letting personality and humor into your office.

My friend and colleague, Judy Carter, wrote about the 5 Steps to Bring Humor Back to the Workplace. She shares comedy tips that can help every office or work setting. Check out her article for more ideas. Judy is a great source of inspiration and has been a great coach in helping me develop my business –thanks, Judy!

Worth A Second Look

July 23, 2014 From the desk of Peter Margaritis

There are so many good books out there that I haven’t read yet that it’s a difficult decision for me to re-read a book. The Ten Faces of Innovation by Tom Kelley is definitely worth a first and even a second read! Kelley runs IDEO, a design and innovation consulting firm that does remarkable work. One chapter in the book resonated with me: “The Doorbell Effect” talks about waiting…the pain, disappointment and confusion created when a service business forces customers to wait.

Kelley’s analogy is when you walk up to a door and ring the bell you have no idea what is happening on the other side. Are they home? Are they hiding from you? You just wait until someone else makes a move. How does that apply to your business?

To me, communication – both internal and external – is the virtual Doorbell that either allows a firm to move forward or holds them back. Within your company, poor communication can create confusion, poor business practices and high staff turnover. Unless the firm’s leadership takes control of communication, the staff works according to their own priorities, manages clients as they choose and fails to support the mission of the firm.

Take that further and develop a standard for communicating with clients. How your staff treats clients is part of your company’s culture. Let me tell you a story that makes my point.

Recently a friend told me about her accountant, rather her former accountant. They didn’t return calls on a timely basis, ever. She asked for their thoughts on her business accounting processes, but didn’t get a response. She asked again, leaving a very specific message…nothing. She “rang the doorbell” four times, and nothing. So she took her business elsewhere. She fired her old accounting firm by email (because they didn’t return her calls), telling them that they clearly didn’t value her business or her time. Guess what. They never reached out see if they could save the relationship.

Eliminate “The Doorbell Effect” by creating best practices focused on client communication. Keep clients aware of the process for their project upfront. Will it take days, weeks, months…how many? How frequently will you update them on progress? Is it okay for them to call you with questions? Never leave clients in the dark. Set up a standard, develop the process and hold everyone in the firm to it.

Firms that commit to excellent communication are more likely to retain clients and improve referrals. It takes effort and a commitment to communicating with staff and clients

It Isn’t Me, It’s You

July 23, 2014July 23, 2014 From the desk of Peter Margaritis

There are some goods reasons you may lose a client: they could relocate out of state, they could close their business or they may, sorry to say it, die. Not much you can do about that. There are instances, however, where the client is giving you lots of warning signs, but you just are not paying attention. In his article Early Warning Signs You’re Losing a Client, Bryce Sanders talks about some of the signs and offers a few solutions. While his focus is on financial advisors, I think accountants, attorneys – just about every business that depends on strong, long-term client relationships – should know when a breakup is coming. In my experience, there are clear signs when the relationship is on the rocks. So here are my Top 5 warning signs:

1. Clients don’t promptly answer calls or return emails and, if you do get a response, it comes from an assistant.
2. Clients don’t seek your advice let alone follow it.
3. You have to dig for details about their future plans.
4. They stop referring new business to you.
5. There is new leadership at their company and you have not met with them.

If you see any of these signs, let alone several of them, take immediate action. Get on the phone and find out what’s going on and offer to make things right (sometimes it is the little things that just add up).

Even better, develop a plan to improve client relationships and set a retention goal for each staff member and the firm. Review the current status of all clients including how frequently they receive communication from you. Even if they are once-a-year-at-tax-time clients, you need to reach out to them with important news, ideas or just check in to be sure things are going well for them. For those staff members who are not comfortable reaching out to clients, help them learn the skills that will help drive your business.

Think back to the breakups your business has experienced and look for the pattern. They are there…the warning signs are always there.

The Best of Times

July 11, 2014July 11, 2014 From the desk of Peter Margaritis

Like many teenagers my son Stephen, who turned 14 last month, didn’t have a real grasp on what I do for a living. And like many fathers, I wanted to spend more time with him this summer. Luckily I had the opportunity to combine both things: I took Stephen with me to Washington DC so he could see me in action at the National Association of Black Accountants Annual Convention and we could spend time away together.

I wanted to make our trip an adventure that he would remember, so we flew from Columbus, OH to Baltimore, MD. We got on an Amtrak train to DC and caught a cab to our hotel. It was the Margaritis version of Planes, Trains & Automobiles!

My three presentations at the conference included two days of 8am sessions. Trying to wake a 14 year old at 6:30am is like sticking your head in a lion’s mouth while wearing a hamburger bandanna. I took the experienced parent way out and let Stephen sleep in. My third session was a professional issues update that was delivered the last day of the conference in the afternoon. After Stephen helped me setup for the presentation he went to the back of the room to watch, which he did with some interest. During the break he asked for money to get something more to eat (a 14 year old is always hungry…always!) I gave him $20 and off he went in search of food.

Shortly after I began the second half of my presentation, Stephen walked into the room with bottle of water. The water was for me – what a kid! Then he did something really amazing: he put the change from the $20 on the table. The room was stunned…a teenager bought something for dad AND gave back the change. I couldn’t let this magic moment pass so I said “Let’s give Stephen a big round of applause.” As my son walked away I could see his big smile, and that made me smile, too.

My work is important to me, and to do it I must travel extensively. I think sharing those days with Stephen created memories that both of us will hold on to and build upon.

Relationships, all relationships, can only get stronger when we invest the time and effort to develop meaningful conversations and experiences.

Moral of the story: share with your kids, your family and your friends. Every day can be the best day ever.

Room With A View

July 10, 2014July 10, 2014 From the desk of Peter Margaritis

As I travel around the country I have stayed in some wonderful hotels – some have great views, some not so great. I thought it would be funny to take pictures of the view from my hotel room and post them on Facebook. To my surprise, people enjoy the photos and my comments!

Some of the views can be quite stunning, like the view from my room in San Diego when I attended the National Speakers Association Annual Convention. Ocean, sail boats and an aircraft carrier. Then there was the view I had in Olympia Washington – just a shrub outside my window.

So what’s my take-away on hotel room views? While some may be wonderful and some rather dull, I try to look at each in a way that provides a positive outlook. And I do this by using the two simple words that many of you have heard me speak about in my presentation “…YES AND.” It’s amazing to me that these two words can change your view from frustration to opportunity.