You need courage to lead a business

I read a lot of books and the ones I enjoy most are usually biographical. This one by Bob Iger, CEO of Disney, is amongst the best I have read on leadership not because, during his 14 years as CEO, $184 billion was added to shareholder value but because of the way he led the business – his philosophy of leadership.The book is full of sage advice (in fact he added 45 “lessons to lead by” at the end of the book.

For those of my friends and associates who are contemplating the challenges facing the accounting profession he notes “The decision to disrupt businesses that are fundamentally working but whose future is in question–intentionally taking on short-term losses in the hope of generating long-term growth–requires no small amount of courage.”

He continues … “When you innovate, everything needs to change, not just the way you make or deliver a product. Many of the practices and structures within the company need to adapt too …”

Those of you who are planning to jump on the “advisory” bandwagon and think that it’s just a matter of doing a bit of cross-selling with the aid of some technology that will enable you to have a “strategic meeting” with your clients are in for a very big shock.

Successfully monetizing business advisory services is categorically not a simple line extension. It calls for a fundamental change in your business model which, in addition to courage, requires three “sets” – mind set, skill set, and resource set.

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