I teach Accounting and Finance for non-financial managers and an MBA refresher class for the University Alliance and Villanova University. It is really business and guidance in contrast to what many people would characterize as just being a CPA. In addition I write for a top golf sports psychologist who works with PGA touring pros. It boils down to providing advice to high performance individuals and helping them get to the top.

I think my web site offers the same level of guidance. People just don’t realize they can get high performance coaching just by asking. They think CPA and related it to accounting, finance, and taxes. Coaching entails a whole lot more. You can get help with strategy, creating vision, change management, marketing, and operational improvement. In addition, you might need help with organization management or succession planning.

Based on traveling the country and working with and for some of the top professionals and managers in business has provided me with a unique background of skills and knowledge. I can provide financial advice if that is part of the coaching equation, but in addition you have the benefit of access to a trusted business advisor.

Coaching will be our new focus and in the coming weeks and months I will be working to fine tune the delivery model so you have access no matter where you are located. Join me as we make the journey into providing new levels of service and support so you can get to the top of your game.

Having your own business gives you an opportunity to do what you have always dreamed about.  I have made this journey and it isn’t easy. The first step is to take time and really think about what you would like to do and where you would like to do it. Taking time to do research possibilities and doing the necessary due diligence is critical.

 There are lots of books and internet resources to guide you. One of the first steps is to carefully evaluate and assess your skills and abilities. This will reveal the possible business options that you could follow. When performing this step you should document all your thought processes. Think about what might be possibilities. This is essential because it gives you a good road map of potential opportunities. Let yourself go and explore all the things that enter your mind without limitations. Noodle, take notes, and create a road map.

 The above analysis should include some of the self assessment steps mentioned in my most recent blog post. Take your transferable skills inventory and link them to potential self-employment opportunities.

 After you start to get some ideas about what businesses are possible, list them down on paper. This is when you really need to dig in and do your homework. Some things to consider include:

• Am I qualified to do this work?
• What is the cost to start this business?
• What resources do I have to commit to the business?
• What is the competition?
• How successful is the competition?
• Will I need help to run the business and can I get the help I need?
• Can I run the business from my home?
• Who can I talk to about starting this business?
• Do I need a business coach or advisor?

These questions represent only the surface of things you need to know about your new potential enterprise.

 Before you actually launch your new business, take time to develop a good business plan together with appropriate projections and an estimate of cash flows. Just doing a spread sheet isn’t good enough. The business plan should contain a detail written statement of your vision and business mission. You’ll need to set objectives and craft a strategy to achieve them. In line with all of these plans include the type of structure for your business. Should you incorporate, create a LLC, a partnership, or operate as a sole proprietor? What business systems will you need including accounting systems? Don’t try to do all this stuff yourself. Spend the time and money to get a trusted advisor to assist you. This can save you a lot time in the long run.

 One of the big questions to answer is can I pull this off and do I have enough money, time, and the skills to do it? This is where an advisor to help guide you through the process can really payoff. Objective advice here can save you invaluable time and money.

 Lots of people have done it and done it successfully. This blog post won’t answer all your questions, but will give you things to think about. There are many possibilities and you need to explore to find what can work best for you.

 This is interesting stuff as I am getting ready to start my new e-book series on the self-employed entrepreneur. Haven’t settled on the title yet, but that sounds catchy and provides the gist of the book.

 Aside from taking different tests on your personality and skill preferences, a careful self assessment is essential. Everyone thinks they understand who they are and what they’re best at doing, but it really needs to extend beyond. The Parachute book uses the flower exercise to guide you through the process. It is a great way to examine yourself and learn more about you. Bolles says that “the reason most job-hunters fail to land their dream job isn’t because they don’t understand the job market. It’s because they don’t understand themselves.”

 The flower exercise has seven steps but the middle of the diagram deals with your favorite skills. I’m going to give you enough information to start you thinking about the process and you’ll need to take it from there. You need to determine what you know how to do and what you do best. Are you good at working with people, dealing with information, or working with things?  Start with these three categories and begin drilling down.

 Some additional considerations might include:

• Working with your hands
• Using your body
• Using words
• Using your senses
• Working with numbers
• Utilizing your intuition
• Using logic or analytical thinking
• Maybe it’s using creativity and artistic skills

These ideas will give you some things to think about and consider. I encourage you to take the time to explore these possibilities. It is a good way to unlock your passion and find out what you really would like to do and can be good at.

 Testing is another option. One of the most well known tools is the Myers-Briggs evaluation. There is an online test based on this methodology you can take free of charge. It never hurts to get more insight and knowledge that can take you in the right direction.

While these efforts aren’t going to specifically tell you exactly what business or type of business you should launch, it will give you information that can guide you in the right directions. Later this week I’ll do a post that explores the possibilities on what types of businesses might be possible for unemployed people. For now, I think you’ve got plenty of material and ideas to keep you busy.

I found a helpful book titled What Color is Your Parachute? 2010. It a proven and tested process that job hunters have used for years. If you follow the steps that Dick Bolles outlines, you won’t go wrong. The key in the assessment process is being honest with yourself and finding out who you are and what you are passionate about. It’s not the latest hot job that out there on the market, it’s all about your skills and what you want to do.

I also mention and reference Rich Feller’s Flower. This is a great tool that I have utilized in my consulting engagements to drill down on what makes a person tick. If you can put the seven steps down on a single piece of paper, you have accomplished a lot. Everyone should do this exercise. It’s a great road map for pursuing your journey in life. It really forces one to really think about who they are and where they want to go.

I also provided some links to web sites that will help with the testing process, if the Flower exercise didn’t get the job done. There’s a lot more work to do in this area. Where I’m heading is that with such a high unemployment rate and businesses not hiring, people will need to become self-employed. They will become part of the growing ranks of free lancers and entrepreneurs who will help take this country out the mess we have created.

People who are sitting around collecting unemployment and waiting for someone to hire them isn’t the answer. The new self-employer entrepreneur and business start-ups will hire and train many of these unemployed folks. I think this is especially true for the over 50 age group. They still have a lot of juice left and contributions to make.

Anyway, enjoy the new resources and I’ll be posting more resources and tips on the site. In addition, I’ve started work on my new e-book on the topic and hope to have the first segment ready and out by the end of the year. As I get back to basics, I’ll post on a more active basis with lots of new information.

Creating golf content for Dr. Mo bit into my business writing. Besides its fun and I like it. When you realize that golf is a lot like life then it makes sense. In addition, the Colorado weather wasn’t real conducive to me setting down and grinding out a lot of boring business stuff. The real key here is that I’ve had time to figure out where to take http://www.northrupcpa.com/.

The site started out being focused on client services and my CPA resources and tools. Not that I won’t provide services or help other CPAs, but the real need seems to be entrepreneurs and business people who can benefit from all the knowledge and consulting expertise I’ve amassed over the years. Getting this information on to the web site and into books takes time, so it will be a journey.

I have started a new book for the self-employed entrepreneur together with support material that will be posted on the web site. In addition there is the Building Business Value™ content and approach that can help the new businesses grow and flourish. In addition I plan to turn my MBA course content into a book as well as develop a book on accounting and finance for business owners and entrepreneurs. I have been teaching  courses on these topics for over three years, so this is a no brainer. I’m not sure about the titles, but we’ll come up with something good. I have learned to do the back cover of the book first and then develop the content and title.

In addition to this blog, check the AccountingWeb blog and my latest post at http://tinyurl.com/3yrkwkz . There’s lots material on that site from other contributors in addition to my stuff.

This blog will become more active, I promise. In addition to writing books, I’ll be converting my content into new products and articles for the site. I have started to figure out Twitter and you can find me at @northrupcpa. Also, we’ll begin showing the tweets on the web site. I’m not sure I have enough to do!

It was fun sharing these thoughts as it provided me with a better sense of how to make the blog, the web site, and my content more relevant. Let me know if you have any ideas.

One way to cope with challenging situations emerged from some words of wisdom from Pete Drucker who is known as “the father of modern management.” The best insurance policy is to build and develop a full life complete with diversity, multiple relationships, and interests. It is a process of developing “You Inc.” in ways that allows one to quickly bounce back from adversity and the challenges of life.

In my recent book, Learn to Win – A Major, written in collaboration with Dr. Mo Pickens, we tell golfers they have to invite and embrace challenge. While this book is about golf and providing the insight required by golfers to play better and learning to win, it provides the basic rules for success in any endeavor or line of work.

The first step in challenging uncertainty is to understand your strengths and likewise, identify areas where improvement is necessary. This means that you’ll always be assessing and developing areas of strength. It also means practicing self-development. This requires thinking about your life as it is and how you would like it to be. Golf is a lot like life. You decide what’s working and what’s not working and then implement a plan to fix it.

In the current economic environment, it probably makes sense to make sure you have plenty of options. This could mean creating a second career or a least something that parallels what you are doing now. In fact, this is the path I have taken. I have utilized my knowledge and skill with golf combined with the ability to write to expand from my CPA and consulting career into new areas of endeavor.

I haven’t given up on being a CPA, but I am using my ability to write to create new books, concepts, and other efforts including teaching. This is a great way for me to share my knowledge and expertise in different ways. I have chosen to define the future by creating it.

The future will be a new series of business books which will be based on my teaching and training programs. This information and knowledge will be shared on this web site and with posts to my blogs. Another new book will be developed to help unemployed people discover themselves and ways to earn a new living. We are also going to keep writing golf books with special emphasis on junior golf.

This will keep me energized and focused and provide my readers with an abundance of new ideas and material. It will be an interesting journey that provides a win/win for everyone.

Joel Baker who wrote Paradigms: The Business of Discovering the Future states that “a paradigm is a set of rules and regulations that establishes or defines boundaries; and tells you how to behave inside the boundaries in order to be successful.” Paradigms have a tendency to guide people in their jobs and lives. They also can become barriers to change and innovation.

Paradigms provide a framework for understanding the forces that prevent people from successfully dealing with change. In reality, they make available a universal basis for discussing change. Additionally, paradigms help to explain reasons for negative reactions to new ideas. They also provide a basis for reducing the degree to which people see change as threatening.

When dealing with extensive change and turbulence, the concept of paradigms enhances your ability to become more probing and open to new ideas. You can gain thoughts on where to look for the ground-breaking changes that basically rewrite the rules of the game. Expanded insight provides for innovation and development of new ideas. Understanding your limitations opens up new solutions and approaches to problems.

People (and organizations) always tend to see the world through their paradigms. This tendency to follow old rules and regulations causes existing paradigms to filter reality. People need to be aware of the impact paradigms have on their ability to make judgments, make recommendations, and take action.

If you are struggling to find a job or start a new business then this post provides a basis to help you analyze why things are either working or not working. Take time to reflect on your paradigms so you can move beyond the boundaries and limitations that challenge you. A little time spent on this reflection might be more important than time unproductively doing things that aren’t producing results.

The unemployment report indicates that the rate in the United States at around 10%, the highest in 26 years, will likely inch higher before leveling off and then starting to decline. When tossing in the underemployed and those who just stopped looking, we’re probably up to 18 %. Then consider that almost 26 % of working Americans have nonstandard jobs. This includes part-time, independent contractors, temps, on-call workers, and others. It’s a bleak picture.

This scenario isn’t limited to the uneducated and untrained, it’s across the board. My sense is that things aren’t going to get better any time soon. In fact, it may get worse. For people in this situation, and others who could land up in this basket, it means you better begin developing some options and a survival plan.

Just sending out more resumes isn’t going to get you where you want to be or need to be. The first step is to carefully assess your situation, your skills, and financial requirements. Establish a clear and honest evaluation of who you are, what you can do, and what you want to do. Most people don’t face up to current reality. This assessment is like a SWOT analysis (Strengths, Weaknesses, Opportunities, and Strengths). Establishing a baseline creates the basis for going forward.

One option is to accept less. Another is to become self-employed. You might have to combine both of these options. Getting more training is another option. As you go through this process of establishing your future direction, it is essential to be honest and realistic.

This situation might mean adopting a second or third career. Ask yourself what can I do? What are you passionate about? As you go through this process, set goals with timelines. Also, set up your financial plan and understand what you need and consider the possibilities of achieving it. The process of setting goals gives you a better chance of success. Your performance will be higher with goals.

Just the thought of becoming self-employed is daunting. It raises multiple questions like how do I get started and what will I need to be successful. Probably the most challenging question will be what will be my business? Only you can answer that question. Since I have been through it and successfully launched my CPA and consulting practice, I can offer advice and assistance.

My first piece of advice is to figure out what you really want to do and think about how that fits into the economic landscape. When you make the paradigm shift from working for someone else to working for yourself you are on your way. It’s a scary leap of faith, but once it’s made you’ll find yourself in a better place.

The road is long and takes a lot of hard work. At least you are controlling your own destiny. Having been through the process, I can tell you that your frame of mind and reference will improve because you have input on what happens. It’s you Inc. so jump in and get started.

A key tool in assessing a business is diagnostic interviewing. This is a process of asking questions and then carefully listening to the answers. W. Edwards Deming, the man who helped the Japanese recover from World War II, always said, “Ask the people who are closest to the action to find out what was really happening.” This advice has never failed me.

Diagnostic interviewing provides indications and clues as to problems. It is a technique I have used to conduct assessments in countless organizations. Getting business owners and management to open the lines of communication can be difficult, but it’s worth the effort. Employees might be reluctant to open up and provide the “unvarnished truth.” It is essential for management to make it clear that they want the truth and the facts. Tell me like it is.

The real key to success is listening and hearing what people are telling you. Frequently, what people say with body language is more revealing than the words that are spoken.

Other Thoughts

A business assessment involves more than just looking at financial data. Take time to step back and thoroughly evaluate the business. Find out what hurts and locate the source of the pain.

Assessments should encompass the entire state of the business from every aspect and all points of view. Get an effective understanding of what is happening in the industry and in the business. Get the big picture as fast as possible.

Analysis

Analysis is performed in order to prioritize problems. Examine problems and then break them into their component parts. Conclusions then can be developed to fit the problem. This is when symptoms are distinguished from problems.

Analysis depends on the specific problems under consideration. Here is my three phase approach:

1. Sort out the facts,

2. Applying analytical techniques, and

3. Use judgment to draw conclusions from the analytical process.

Sorting out the facts is a process of categorizing all the information collected during the assessment. The facts should be sorted based on the assessment parameters. There will be a lot of data to match up including the information gathered from the interviews. Take time with this process and avoid jumping to premature conclusions.

Once the facts are sorted, then start applying analytical techniques. There is both qualitative and quantitative analysis. Qualitative techniques are used to analyze factors which can’t be measured in numerical terms. Examples of qualitative techniques include the development of matrices, asking fundamental questions, and searching for patterns. Additional examples include comparison of events for the purpose of identifying both differences and similarities. Qualitative techniques also include development of flowcharts and fish bone diagrams. Applying analytical techniques is very important so think carefully about the potential range of possibilities.

Self-Assessment Toolkit

I developed a Self-Assessment Toolkit for use in my consulting work. You don’t need to use it but the checklists and questionnaires it offers provides a good roadmap. Another component of the toolkit is a team survey to gain feedback regarding employee opinions about the organization.

The 10 Step Process

To get things on a profitable footing I created the 10 Step Process to Building Business Value:

1. Identify and locate the pain.

2. Establish the parameters on what needs to be done.

3. Evaluate your market, products, and services – are they right for your business?

4. Right size the business.

5. Financing the business.

6. Maximize asset utilization and returns.

7. Improve employee productivity.

8. Conduct product and customer analysis.

9. Improve business processes.

10. Measure and monitor performance.

These 10 steps represent the essential components of what every business needs to do to maximize profitability and build the value of their organization. These steps represent a long-term no nonsense approach to value based management that produces results.

This methodology works because I have used it to produce results in a number of businesses. When businesses apply the tools and employ them consistently over a period of time, the benefits are record growth in sales and profitability.

These concepts are not silver bullet fixes. They represent a common sense application of tried and true methodologies that can make the difference between survival and failure.

1. Create a Vision for Success

2. Set Objectives

3. Develop a Strategy for Making it Happen

4. Build Action Plans

5. Evaluate Performance

Following these 5 steps and documenting them are essential to keep your life or your business on track. This doesn’t need to be a complicated process, and in fact, the simpler the better. However, putting these steps into a written document is essential and helps to build the commitment necessary to convert the vision for success into reality.

1. Create a Vision for Success

A mission statement should be brief and focused. It can be nothing more than a few words or phrases that provide a description of how you define success for you and your business. It should become a living document about where you’re headed going down the road. When you define where you are going you have a better chance of getting there.

Your vision statement should spell out where you plan on going and the steps required for getting there. There needs to be a link with the goals and objectives required for achieving the desired level of success. The best vision statements are simple and straight forward. Keep it simple and spell it out in contrast to just thinking about it. Writing the vision versus thinking about it is usually the difference between success and failure.

2. Setting Objectives

After establishing a vision for success, the next step in the process it setting goals and objectives. Setting goals and objectives stems from the vision statement and assessing current performance and the major issues that need to be addressed and how they relate to strategy to accomplish your objectives.

Objectives should specify measureable results that need to be accomplished together with a target date or a time span for completing it. Objectives should be as specific and quantitative (measurable and verifiable) as possible. Development of objectives should specify only what and when it needs to be accomplished and should not venture in to the why and how. Objectives and goals should relate directly to crafting a strategy to achieve your objectives.

3. Develop a Strategy to Make it Happen

Strategy corresponds to the actions and approaches necessary to achieve your objectives and fulfill your vision. The components of strategy include deciding on those attributes which offer the best chance to achieve your objectives or to gain a competitive edge. Strategy is where you focus on the skills, expertise, and competitive capabilities that will set you apart from your rivals.

Strategy is about being different in contrast to something that everyone is or should be doing. It boils down to making the tough choices that create a sustainable competitive advantage. These choices are those that allow you to change the rules in your favor.

4. Build Action Plans

Action plans are when you need to get more specific to clearly identify what has to take place. They represent an opportunity to test and validate your objectives. In addition, they provide a basis for communication for others who need to contribute to or will be affected by what takes place.

The following basic components should be part of the plan development. First, document the specific steps that will be required. Next, it is important to identify the people who will be held accountable making sure that each action step is completed. Developing a timetable getting things done is essential. Make sure to determine what resources will be needed to achieve your objectives. Finally, it is critical to provide feedback mechanisms to monitor progress.

Documentation provides a basis for monitoring the progress of each action step. Incorporate this documentation into a schedule that spells out what needs to get done and when.

5. Evaluate Performance

“If you can’t measure it, you can’t manage it” is a term frequently associated with achieving results. Monitoring and evaluating performance is essential if your vision is to become reality. It might be necessary to reevaluate your strategy depending on how things are working out. Assessing the financial impact is essential in determining if you are achieving the level of expected results. Regularly evaluate your resources. Do you have everything in terms of personnel, materials, information, and other resources to support your vision and strategy? After establishing the vision, the strategy, objectives, and action plans, it is essential to monitor the few vital factors that let you know whether or not you are on track or if modifications are necessary. Continually check your progress and respond appropriately.

Final Thoughts

When creating a vision and converting it into reality is not only critical, it is essential to put it into writing. Written goals and objectives are more likely to be accomplished. Make this a habit and I think you’ll start to see success. Written plans represent a commitment that translates into success.