Charging into Change in 2022
Are you standing in your own way? Learn why each of us need to not only accept change, but we need to look for chances to change for constant improvement and learning. Six weeks into 2022 and many need a reminder that it’s not just about embracing change, it’s about becoming a change agent who can adapt to any situation with confidence.
What New Year’s resolutions did you make? Have you stuck to them? Or are you finding yourself floundering?
A January article in Forbes listed “10 New Year’s Resolutions Every Business Owner Should Make for 2022” listed “Build a Better Growth Mindset” at number three, stating, “Every business has different major hurdles that stand in the way. The resolution to solve these hurdles rather than shrug them off, ultimately determines success.”
One way to build a better growth mindset is to not only embrace change, but to charge into change, a topic with which Donny Shimamoto, CPA, CITP, CGMA, is an expert. Shimamoto, founder and managing director of IntrapriseTechKnowlogies, an advisory-focused CPA firm that concentrates on innovation acceleration and organizational development, spoke about it on a podcast with Jimmy J. Williams, CPA/PFS, CFP®, called “Live a Life by Design: Charging Into Change.”
Shimamoto, who grew up in Hawaii, compared change to a popular island activity, saying that keeping up with trends was surfing change and that accountants need to learn to ride it.
“Rather than being overwhelmed by this wave and, you know, wiping out, it’s really about learning to kind of surf, because you can’t control it, but you have to at least read it enough to be able to get on it and get on board and stand up and let’s see where this wave takes us,” Shimamoto said.
He cautioned that it’s not just about accepting and utilizing technology; it’s about changing your company utilizing the technology.
“Most people think innovation, think technology,” Shimamoto said. “But in any type of change adoption, what you actually need to do is change your business practices.”
Using tax as an example, he explained, “If you’re doing tax preparation and you start to use automation, you also have to change your pricing to use fixed or value pricing. Otherwise, you’re going to lose your margins because it’s going to take you less time. So it’s technology change plus business change.”
In addition to discussing current and future technologies, Shimamoto and Williams also discussed the future of the profession and the origin of the Center for Accounting Transformation, which Shimamoto founded.
“The genesis of the Center was really because there were a lot of ‘thought leaders’ who were saying, ‘You need to do this,’ and I’m going to actually throw the AICPA into there,” he said. “They said, ‘You must change into advisory. You must do this.
“And a lot of people are also using the fear factor, fear tactics saying, ‘If you don’t do this, artificial intelligence is going to take over your job… and what I kept hearing is people reflected on it and said, ‘I’m so scared. I don’t want to do anything…And so coming back to this whole need for hope, that was why I wanted to form the Center because we show people how.”
Get the “how” and charge into change
The Center for Accounting Transformation provides professionals with a framework for utilizing innovations that are ready for adoption, the training and resources necessary to apply the innovations, and an opportunity to engage the talent and community needed to further the pursuit of innovative accounting practices that drive responsible and mindful business performance.