There’s more to being an accountant than just keeping and interpreting financial records, churning out reports, and helping businesses make sound decisions. Accountants themselves also need to have an entrepreneurial mindset — which entails joining a reputable accountancy network and maximising their connections — to thrive in their profession.

Adopting The Mindset Of An Entrepreneur

Entrepreneurs refer to people who undertake a new business. While they carry most of the risks, they also get to reap most of the rewards of their endeavour. The key traits of successful entrepreneurs are being innovative, resourceful, and adept at solving various problems.

If you’re in a global accounting network, you will find many accountants who have adopted an entrepreneurial spirit. But why do accountants need to have that?

Risk is always there. While accounting firms work on something quantifiable — numbers — the very nature of their organisation has risks inherent to it. From client lawsuits to data breaches, different unprecedented issues can damage the firm’s reputation. Accounting experts need to have the resiliency and in-depth problem-solving skills of an entrepreneur to withstand and overcome such situations.

The changing times require resourcefulness and flexibility. When the COVID-19 pandemic shook the world, several accounting firms have shifted online. While some have the resources to do so, some struggle to keep up with the new normal. Accountants need to be highly resourceful and flexible, especially during these challenging times. To remain in the field — and even rise above competitors — you have to respond to whatever the current situation demands quickly.

Connections matter. Entrepreneurs, no matter which sector they are in, need connections to grow and thrive. As the old saying goes, no man is an island. If you’re in the field of accounting, joining an accountancy network can help you grab opportunities (e.g., new clients, timely accounting resources) that won’t be available if you’re working alone or if you have limited connections.

Thinking for the long term is the key. Though entrepreneurs deal with a lot of things at their table today, they have their eyes set on the future. How can inefficiencies be improved in my business? What can I invest in to help my business grow more in the long run? These are questions that they ask themselves and draw their strategy upon. As an accounting professional, you also have to prepare for the long haul to stay relevant and successful amid the coming and going of competitors and trends.

Join The Leading Global Accounting Network Today

MGI Worldwide is a Top-20 ranked international network of audit, tax, and accounting and consulting firms. Established in 1947, the organisation has been helping professionals across every continent do business more seamlessly and cost-effectively. They provide easy access to reliable resources, help broaden your reach, offer technology partnerships and customised marketing support — all in the name of achieving collective growth for its 1,000+ members in over 100 countries.

Want to advance your career as an accountant with an entrepreneurial mindset? Check them out here: https://www.mgiworld.com. For enquiries, fill out the online contact form on their website.