Growing up one of my baseball coaches, an MLB World Series Champion, asked our team, “What is discipline?” One of my teammates answered, “Practicing all the time.” My coach responded, “No, it is practicing the right things over and over again.” This demonstrated to us that showing up was not enough to be great and even just showing up would, in fact, make us worse players. This idea of not just showing up and going through the motions propelled me to achieving being a collegiate scholar athlete at The Master’s University in Southern California and carried me into my accounting career.
My career began when I was recruited right out of college by a “Big Four” accounting firm where I was able to work with both public and non-public companies. During my time at KPMG, I discovered I had a passion for helping non-public companies grow to their true potential. This led me to transition to a smaller accounting firm where I was able to advise clients from both a financial statement and a tax perspective. As time went on, I shifted to industry accounting. For the next three years in this new position, I played an integral part in the company being able to start a joint venture with a publicly traded company. I assisted the company as they navigated through their first time experience with a “Big Four” accounting firm’s audit procedures, was instrumental in the implementation of the appropriate accounting system, and was key in converting GAAP basis books to tax basis books.
You may be asking yourself, “Why did this guy start with the story about the word discipline and how does it apply to my company?” In the same way baseball players have to be trained on what pitches to hit depending on their strengths, so companies have to choose what opportunities to pursue in an ever-changing business environment depending on their strengths.
Over the last 10 years, I have found that the financial aspect is the key for making educated decisions and for unlocking the true potential of any company. Through the financial aspect, you can have concrete ways of knowing if you have been or will continue to be a disciplined company; a company that is making right decisions over and over again.
As companies make the right decisions over and over, the company will generate more capital, giving them the ability to invest in new projects, which will then lead to the company’s true potential. Are you confident that you have the correct knowledge based and sized accounting department to facilitate your decision making?
The Financial Aspect can help no matter the size of your company with a cost-efficient solution.