Defining High Performance in Accounting
“High performance” is a term often used, but what does it really mean for accountants? Unlike sports, where performance is measured by touchdowns or home runs, high performance in accounting requires a different approach. Let’s dive into what constitutes high performance in our field and explore ways to reach and sustain it.
The Concept of High Performance
High performance in accounting isn’t a simple measurement; it’s about achieving consistent excellence through behaviors and values. As Paul Laham from Hayden Rock Solutions explains, true high performance involves living up to a set of core principles that drive improvement over time.
Core Principles of High Performance
1. Strive to Maximize Potential
Achieving high performance begins with a commitment to becoming the best version of yourself. This involves:
- Openness to Change: Avoid complacency by staying curious and adaptable.
- Transparency and Honesty: Be 100% honest with clients, even if that means giving difficult feedback.
- Mutual Respect: Build partnerships, not servitude, with clients.
Example: Rather than simply appeasing clients, accountants should engage in open conversations that help them truly understand and improve their business. This shift from a “servant” mindset to a collaborative one is essential for high performance.
2. Consistency and Long-Term Commitment
High performance isn’t achieved overnight. It’s a marathon, requiring:
- High Personal Standards: Set and maintain ambitious standards.
- Relentless Effort: Work consistently over years, not just days or weeks.
Example: At Elite and Hayden Rock, achieving excellence took years of dedicated effort. The desire to improve remained constant, leading to a 10-year journey of growth and development.
Key Behaviors that Define High Performance
3. Do the Right Thing
In accounting, integrity is crucial. This principle includes:
- Building Goodwill: Make decisions that benefit clients, even if it means setting aside personal gain.
- Focusing on Long-Term Trust: Avoid quick wins in favor of lasting client relationships.
Example: Instead of pushing clients toward high-cost solutions, advise them based on what’s truly best for their business. Clients will trust you more, and this goodwill fosters loyalty over time.
4. Embrace the Process
High performance requires patience and process-driven work. Many firms look for quick wins, but true success is found in:
- Enjoying the Process: Approach each task with purpose, rather than only focusing on the outcome.
- Establishing Trust: Consistently doing the right thing builds a reputation as a trusted advisor.
Example: Paul shares that he often spends time explaining options to clients, ensuring they understand the rationale behind recommendations. This builds trust and positions him as their go-to advisor, even years after initial engagements.
Measuring High Performance
While high performance may seem subjective, there are ways to gauge progress. In the next article, Paul Laham will discuss how to measure high performance within accounting firms, using frameworks developed at Elite Resource Team to quantify progress and maintain excellence.
