Savvy CPAS Focus on the Constants

Don’t be distracted by the hot trend of the moment.

In “10 Things That Accountants Didn’t Need to Worry about 10 Years Ago,” CPA Trendlines contributor Hitendra Patil generated reader reactions with some provocative thoughts about a tsunami of trends. Today, he looks at the other side of the coin, starting with a quote from Amazon CEO Jeff Bezos:

You should build a business strategy around the things you know are stable in time and then invest heavily in ensuring you are providing those things and improving your delivery of them all the time. If you want to build a successful, sustainable business, don’t ask yourself what could change in the next 10 years that could affect your company. Instead, ask yourself what won’t change, and then put all your energy and effort into those things.”

By Hitendra Patil
Pransform Inc.

What has remained unchanged in the tax and accounting profession over the last few decades? And what will not change over the next couple of decades?

More on The Entrepreneurial CPA by Hitendra Patil here.

Being a futurist is not easy. Being a realistic futurist is even more difficult. But being a person who knows the foundational value of his or her profession is relatively easy, if you know why and what customers buy from you. A CEO of Black & Decker once said the almost proverbial “customers don’t buy a drill machine, they buy a hole in the wall.” As an accountant and tax professional, you must figure out what your customers buy from you and why they buy from you rather than from your competitors.

Now is the time to think about what they will continue to buy in the future.