USP Expert Interview - Steve Pipe Part 2

Part 2 of my interview with AVN Founder and Head of Research, Steve Pipe

How do you see the future of the accounting profession shaping up and what should firms being doing now to gain a competitive advantage in the years ahead?

Technology will change the picture as it has been doing for some time. For example, believe that in the future we will be able to run our businesses from our mobile devices.

Remember, much of what used to feature in the role of an accountant doesn’t now. For example, I spent most of my early career reading over between two sets of Wordperfect accounts and carrying the comptometer machines around – all of which is anathema to today’s profession.

Of course, the death of compliance work has been predicted for years, and hasn’t fully happened so far. But what I think is inevitable is that there isn’t going to be a role for highly paid compliance accountants in the future. Accountants who are willing to settle for low pay will still find compliance work. But those who aspire to higher rewards will need to deliver much more than just a compliance service.

So we need to make sure that we spend our time providing what computers will never be able to provide – the trusted relationship. And we need to keep the promises we make on our marketing literature, and keep them brilliantly.

Looking back to the beginning of your career, did you expect to see the level of success that you have and what do you know now that you wish you’d known back then?

There was no way I could have predicted the exact course my life has taken. And I am thrilled and humbled by what has happened to me. As for the most important thing I have learned, that is simple… follow your heart, do what makes you happy, and make the brave decisions.

How did you overcome the fear when so many people get held back by fear? 

I figured that we can all afford a blip on our CV. So when I left Kodak with no idea as to what I was going to do next (other than take some time out with my wife and our new baby) I reckoned that I could get another job if all else failed. So, as a result, there wasn’t really much to lose, and so much to gain. The real risk was in staying in something that didn’t make me happy rather than trying something that did.

When you sit down and analyse the real risk against the perceived risks, things look a lot less scary and you can make an educated decision.

Many young professionals complain of not really understanding what they need to do to make it to partner. What would be your counsel to them?

The first thing I’d ask them is, do they need to be a partner in someone else’s firm? Is it more fulfilling to them to start their own?

After all, we’re much more likely to get excited by and invest in our own vision than someone else’s. 

I'd like to thank Steve very much for his time in this interview and would encourage you to see what is happening over at www.accountantschangingtheworld.com

Stay tuned for a new expert interview next week.