The CPA Conundrum: Are We Coaching CEOs or Guiding Their Vessel?

Just a week ago, I dropped a topic into our digital think tank that’s been causing ripples ever since. Allan Koltin, at Accounting Today‘s #FirmGrowthForum, fired off a reality check: CEOs don’t just want number-crunching from their #CPAs, they are thirsty for #CEOCoaching. Yes, the kind of coaching that ventures beyond the spreadsheet. It’s been a bit of a head-spinner, right? So, it’s high time we ask ourselves: Are we prepared to step into this new role? Even more pivotal – is it our role to fill?

Let’s break it down. As #accountants, we are wizards with numbers, data #analysis, and #forecasting business financials. But #coaching? Now that’s as different from accounting as Hogwarts is from Wall Street. To be effective coaches, we’d need to extend our knowledge to a broader landscape: business, finance, #entrepreneurship, technology, #communication, and a slew of other skills that most CPAs do not possess. I’m speaking from over a decade’s experience as the CEO of my Outsourced CFO company, DeepSky, collaborating with a diverse range of entrepreneurs, business coaches, and CPAs. It’s a tall order, and not necessarily one we’re cut out to fill.

But here’s the plot twist: While we may not be the quintessential business coaches, by leveling up our skills from #CPA to #CFO, we can deliver value to CEOs that echoes, and even facilitates, coaching:

1. The Future Forecaster:

As #CFOs, we’re the CEOs’ financial crystal ball. We help them see impending financial hurdles and prospects, and even toss them a heads-up about potential risks. It’s not outright clairvoyance, but hey, it’s damn close! 

2. The Illuminator: 

Being in the trenches of a company’s financial operations gives us a comprehensive view of its current state. From financial health to operational productivity, we’ve got a clear picture. And we’re not shy about illuminating the blind spots for CEOs, arming them with the intel they need to make sound decisions and challenge their assumptions. Because let’s face it, a CEO armed with faulty assumptions is like a bull in a china shop.

3. The Peace Provider: 

Now, CFOs won’t get you into a lotus position or lead you through a guided meditation, but by managing the company’s finances, we gift CEOs the tranquility that rivals the calm of a Zen master. With financial worries off their plate, they can laser-focus on their main roles. And a CEO with a clear head? That’s a game-changer right there. It’s not just serenity we’re offering, but the space and emotional bandwidth for CEOs to juggle all the curveballs of running a business.

By performing these roles, we’re already turbocharging the value we offer to CEOs, leaving your average CPA in the dust. But when it comes to real-deal coaching, let’s tip our hats to the pros, like the folks at MAP led by my mentor, Michael Caito. As a CEO myself, I can vouch for the unique edge a specialized CEO coach brings.

In essence, while we #accountants and CPAs may not be coaches, we are financial seers and serenity suppliers. We’re a unique breed of superhero in the CEO’s arsenal, one that can amplify the impact of a real business coach.

So, what’s the verdict, folks? Are we CPAs ready to leap into this fresh challenge? Or should we double down on amplifying the value we’re already championing? Can’t wait to hear your thoughts. Let’s share, brainstorm, and level up together.

#HACKNation #CFOClub #CEOCoaching #AccountingToday #entrepreneurship 
#knowyournumbers #liveyourdreams

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