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Month: September 2020

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This post is the second in a two part series: read last week's post here.

by Kevin

Our second tale comes from Ian Morris. I met Ian several years ago while he was still a college student at Oklahoma Christian University. Consequently, it has been particularly satisfying to see his career develop to where it is now. However, it wasn’t always smooth sailing for Ian. As careers often do, his journey demanded difficult decisions, as you can read below...

by Ian Morris

I had been working in Public Accounting for just over five years and was starting to get restless in my job and was reimagining where I wanted my career to head. This was the first time I truly felt like I did not know what the next step in my career would be. There was one feeling I felt every time that I thought of making a real change: FEAR. Fear, as I would come to learn a little later, was the one major hurdle to me taking action to seek and ultimately find an incredible opportunity.

After five years, I left one month prior to being promoted to manager. It all began to unravel in the summer of 2018. At that time I was working as a Tax Senior at Ernst &Young in Dallas, TX and was enjoying almost every aspect of it. I was performing my job at a high level, got to work with incredible colleagues and clients each day, and was just notified of a promotion to Manager later that fall. Sounds like a dream, right? Ever since I graduated college and got my CPA license five years prior this had been my goal and I truly loved it, most of the time. I began to reconsider after a conversation I had with a guy at church that was several years older than I, and had a very similar career as mine up to this point. The difference between him and I was that he decided to leave BEFORE making manager for, what I considered was, the dream exit opportunity.

This began me on the path of wondering if I, too, could find this elusive opportunity early on. What made the choice difficult was that again, I was overall very happy where I was at and had a stable and well defined career path for at least the next 7-10 years. My only hesitation with continuing in Public Accounting long term was the constant late hours and ever increasing administrative responsibilities as you progress. At the time my wife and I were expecting our first child, so those long hours at the office weighed especially heavy on my mind. After much thought and time, I made the decision to seek out a recruiter. I ended up working with three separate recruiters and moving on from the first two before gaining some traction with the third one. Through that process I learned that my biggest obstacle to finding my dream opportunity was my fear of the unknown and endless what ifs.    

Once I learned what was holding me back I began to search for how to overcome this fear. At the time I had just purchased a book by Tim Ferris called Tools of Titans. In searching through this book for some inspiration I came across a section called Fear Setting, and it turned out to be just what I needed. It is a simple exercise of defining your fears pertaining to a specific decision you are struggling with and weighting the probability of that fear actually happening, then coming up with a solution to mitigate it. Through that exercise it became clear that I was stuck on what if I change jobs and end up unhappy, thus wasting time when I could have been progressing in Public Accounting. This fear was holding me back from exploring what possible opportunities were out there.

After doing this exercise a couple more times, meeting with my mentors (including Kevin), and talking it over with my wife, I decided to move forward with the job hunt and find that opportunity. At EY I was working primarily with real estate and private equity clients. I found the mix of real estate and private equity very interesting and knew this mix could be were very profitable depending on the company. Thankfully in Dallas, TX there are a number of these types of firms that my recruiter began seeking out for me.

I also wanted make a trajectory change in my career and get away from just focusing on taxes as that was not what I desired to do indefinitely. This proved to be difficult because not many companies wanted to take on, and pay, someone with five years’ experience in tax just to give them a fresh start. At this point I started to see the writing on the wall and had three viable options. I either make a change, stay in Public Accounting, or switch over to industry at some point as a tax manager or director. The latter two of these are great careers and pay well, but ultimately were not what I truly desired for myself long term. I hoped to one day be the CFO at a private equity fund, and making this trajectory change early on seemed like a good next step in that direction.

With a narrower list of companies I was willing to look at and also wanting to shift away from tax we began the search. At the time I was just starting with my third and final recruiter and was fortunate in that they had a couple companies in mind, one large investment company with public funds and one smaller private company that focused solely on real estate. I ended up interviewing at each of these companies plus one more and got an offer with the third one I interviewed at. Fortunately that ended up being my favorite of the three and I was ecstatic to have gotten an offer there. In the end after a little bit of negotiation we were able to come to an agreement and I happily made the move.

After almost two years at the new company I can say that this has been a great move and I have been truly fortunate in that I get to do what I enjoy each day. We are presented with new and exciting challenges daily and I feel I am continually learning new things. To wrap it all up, I would strongly encourage anyone who reads the blog to let the things you will learn through Kevin and Adam’s mentorship guide you. I would also encourage anyone who is struggling to make a difficult choice or determine which path to take, to do the Fear Setting exercise I mentioned. Both will change the way you confront your fears and lay out the path to making more sound decisions.

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by Kevin

Action Daily routine! Nothing gets me more energized than movement. Perhaps that is counterintuitive. Maybe you believe movement removes the energy? However, in my experience: motion creates emotion. So, if you want to get excited: get moving! This post is your formal and official call to action! If you need additional motivation, I have always found Shia Labeouf to be helpful.

Let’s rehash a little. Hopefully you can see the flow of these posts as it relates to the direction of your development: 1) You know yourself--you’re ready to grow yourself 2) You know your mission, 3) You have properly set goals that create boundaries for balance and actionable steps for development, and now... 4) Action: your daily routine. Steps 1-3 are useless without step 4. John Maxwell says, “you can’t achieve everything in a day, the secret of your success is found in your daily routine.” 

Let me be even more clear: you won’t accomplish anything unless you are incorporating it into your daily routine. It’s shocking to me that so few people have a plan for each day. Not only that, there is no plan for their week, month, or even year! Perhaps there is a general 5-10 year plan, but no daily commitment to achieve it.  

When you plan your day, think about your goals. How are you moving on your goals each day? I realize some goals don’t require daily action, but most do. Specifically goals in the areas of health, spiritual, and relationships. I agree that it is possible that certain financial and career goals don’t require daily focus and action, but some do. Challenge all of your goals to see if there is something you could be doing each day to make progress. 

When I meet with a mentee, we develop an action plan (or daily routine). We start with the time you wake up and end with the time you go to sleep. I have found that my morning routine is most important to my development as I have more control over that period of time in my day. Therefore, I cover my spiritual goals before anything else. After that I focus on career, relationships, and health goals. My evening is set aside for relationship goals primarily, but I can also cover some career goals (reading), as well. 

Also, this might surprise you, but don’t forget to schedule leisure time. I’m not talking about 6 hours of each evening with mindless netflix binging, but 1 - 2 hours is more reasonable. We all need to schedule a break or something we can look forward to in our day, don’t we?

by Adam

What an incredibly well-timed topic!  

To preserve the timelessness of this post, and to help add context for those who are reading these hallowed words hundreds of years after I type them, let me explain.

I’m writing this in fall of 2020 from my home.  That wouldn’t be so unusual, except for the fact that this desk I’m sitting at now doubles as my work desk.  I’ve been working remotely since early 2020, due to this new thing called “COVID-19.”  

Again, for the people reading this 100+ years from now:  1) I am as humbled as I am deceased by the fact this blog has had such sustained popularity, and 2) I’ll let you read the COVID wikipedia page for yourself to learn more about COVID-19.  But, suffice it to say that, for me, among other things, it turned a fairly stable daily routine completely on its head!

What a weird, accidental daily routine experiment I’ve been living through.  And, I’ve got to be honest, there have been positive (and negative) surprises.

The tumult in my day-to-day routine has helped reinforce the importance of having a routine in the first place.  Without much planning (or foresight), my sudden work-from-home job meant an extra hour or so a day from a non-existent commute, and slightly less burdensome morning ritual.  It also meant much blurrier lines between “home time” and “work time.”  

Now, at first, I didn’t do a great job of being intentional about how I’d handle this new dynamic.  I simultaneously reveled in the non-commuting time, but also let my daily routine slip into hapless anarchy.  After a few months, I started to realize how this was impacting my goals.  To prevent this post from taking on the length (and character) of a manifesto, I’ll just share one example.

The YMCA opens at 5AM on weekdays.  Now, I didn’t always get there at 5AM, but I was there at that time more often than not.  And, importantly, it was obvious and apparent to me when I wasn’t there at that time (or close to it).

But then, all the YMCAs around me shut down for several weeks.  So many good things flowed from this one habit of starting each day with good exercise.  Now, that part of my daily routine was gone.  I started waking up a little later, and going to sleep a little later.  And, while I have exercise equipment at home (treadmill, bike, free weights, etc.), I also have other things at home (dishes, that pantry I want to clean out, my television, a dog that likes to fetch….you get the picture).  With all of that taken together, I was getting much less consistent exercise than I used to.

Now, this problem is easy (conceptually) to fix. But, as Kevin alluded to, there is no magic wand to wave.  For my specific situation, I replaced my gym routine with an outdoor running schedule.  But, more broadly, the fix is intentionality: breaking down my goals into the set of daily actions I must make to achieve them.  

That’s the power of a daily routine.  It’s right there in the name: it becomes routine.  Taking those small steps toward your goals happens on autopilot.  There is no latent stress out there: “you know, one of these days, I’m really going to have to do 2 months of cross fit and become the next Hulk Hogan to meet my exercise goals.”

Yet, I can say all that, and still not live it perfectly 100% of the time.  As I mentioned, I was a 5AM gym person; but, one external shock to my routine put me on an unproductive course for several weeks!  So, take this as an invitation to ask yourself that same question right now: is your daily routine, as it stands right now, aligned with your goals?

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by Kevin

Landing that first job out of school can be very exciting. It can also be challenging. Yet, what may be even more challenging is the decision that comes next: how long do you continue at your initial place of employment, and when do you move to the next opportunity?  If you’ve been performing at a high level while feeling (generally) satisfied and content, that decision can become even more fraught. 

In the world of public accounting, the promotion to “manager” is traditionally viewed as a significant and desirable milestone, something that signifies your career is on the right track. Although timelines can vary, it typically takes approximately 5 years to accomplish this feat.  Although beneficial, is it essential to hang on until the five year manager promotion timeline to jumpstart a successful career?

Over the next two weeks you can read from two guest bloggers who have faced this difficult decision to remain until manager, yet arrived at two different—yet equally valid—conclusions. 

Our first “tale” comes from Shelby Stone. Shelby graduated from the University of Oklahoma in 2014. I met Shelby a few years ago as she was grappling with this decision to continue her public accounting career with KPMG and, accordingly, set an aspiring goal to become a manager. I believe you will find her decision making process interesting and useful, particularly if you or someone you are mentoring is dealing with a similar dilemma to stay or go…

by Shelby Stone

When asked why I set out to be an audit manager, my knee jerk response is, “isn’t that what I was supposed to do?” As I reflect back, all the cliché reasons on why “staying until Manager” is a great career move come flooding back. “You will accelerate your career.” “You will be exposed to so many different processes and clients resulting in a well-rounded set of skills.” “You will manage faster.” “The learning curve is steep with the knowledge gained being invaluable.” The irony is all those reasons, cliché or not, contribute to why I am so glad I stayed until Manager. I firmly believe that everyone’s career path is unique to them. For example, going into industry immediately out of college or leaving public outside year 3 (1 year of senior associate) or year 6 (one year of manager) can still result in just as fulfilling of a career. However, I can acknowledge now that the cliché reasons to stay in public ring true.

For me, I didn’t exactly set out to be a Manager. I took the classic road of majoring in accounting, interning with Public during college, and accepting a full-time position before even graduating. I passed the CPA exam and earned my license after my first year as an associate. It was what all my friends were doing, and it is what my college promoted. I was enjoying the “work hard, play hard” mentality of Public Accounting and being surrounded by young professionals of similar backgrounds. I had many family friends associated with public accounting and I just thought this was what I was supposed to be doing. Typical of most public accountants, as I was wrapping up year three and completing my first year as a senior associate, I started contemplating the ever-present question of, “should I stay or should I go?” Like most, my first couple of years had been rough between the hours and challenging work. I also had lots of self-doubt that left me wondering if I was even capable of being a Manager. 

So, I decided to look around and see what other opportunities were out there. I highly recommend this if you are ever feeling unhappy in your position because oftentimes you will find the grass is not always greener. Nevertheless, everything I considered just never really felt like the right fit. It was then when I decided I was going to give being a Manager a shot, and see if I could survive the next two years and learn as much as I had been promised. [Spoiler alert: I did.] Now don’t get me wrong, the next two years were not a walk in the park. I questioned my choice several times along the way, but each year, I kept finding myself surprised at the knowledge and skills I developed.

Honestly, while my accounting technical knowledge was expanding, I was most surprised at the skills I was sharpening related to management and communication. Now I can look back and say, the development of soft skills is really what has set my public experience apart. To some degree, you are responsible for managing your time with tight deadlines under stressful conditions, even as a first-year associate. You learn to communicate effectively and efficiently with your seniors and managers, have discussions with client contacts, and document that information within the workpapers. These skills are then continually developed as you progress through the firm and gain more responsibility with most in-charging engagements after only being removed from college for two years. All of these skills developed over this short time create strong performing individuals who have a great opportunity to continue at their firm, and quite a few opportunities to take those skills and apply them to new adventures.

After completing my first year as a Manager, I can look back and say that all the reasons to stay are valid. I even discovered reasons I didn’t consider before such as flexibility, plenty of PTO, extensive training resources, travel, high-quality culture, and unique opportunities, to name a few. Truthfully, I have no new profound ideas of why staying until Manager in public accounting is beneficial. I can acknowledge that the Manager path is not always the best path for every individual, and I am certainly not here to argue that it is. My statement and sentiments are only that if you choose it is the right path for you, then it is most definitely worth it.

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By Kevin

Now that you have unmasked your mission (or maybe that is just “in process”), it is now time to generate your goals. This is absolutely my favorite topic and one that is probably the most challenging to write about. I love the exchange between Alice and the cat in the book, “Alice in Wonderland”. As Alice is trying to determine which path to take, she comes upon the Cat. The crafty Cat and the addled Alice have the following exchange:

“Cat: Where are you going?

Alice: Which way should I go?

Cat: That depends on where you are going.

Alice: I don’t know

Cat: Then it doesn’t matter which way you go.”

This is a very unfortunate—yet common—dialogue (although maybe not exactly with a friendly feline) in our culture. It presents the problem of a lack of properly set goals and direction. Goals allow us to always be “knowing where we are ‘go-in’”. Goals give us an actual target to aim for. Without them, you are merely a weary wanderer...it doesn’t matter which path you choose or decision you make. 

There are so many good books on goals and goal-setting, it is decidedly difficult to discover anything new in this world of goal-setting. But, after careful filtering through my thoughts on goals, I do believe that I have something new to add: balance. 

Ahh, balance. Is there anything more important, yet difficult to obtain? When it comes to balance, there are so many questions that arise with so few answers: What is balance? Does it mean the same thing for you as it does for me? How do I obtain it? Did you obtain it? Can anyone obtain it? Why is it so elusive and why do we blame it on every job change? So...how can I help with this hopelessness? 

I believe that we can know that we are truly achieving a balance in our lives if we are progressively realizing goals within each of these areas: health, spiritual, relationship, career, and financial.  If you can define it, you can deliver it..with proper alignment! This is why it is so important to properly reflect on what you really want from all aspects of your life. What is your true heart's desire? That’s where you should intentionally say yes to spend your time...and learn to say no to anything else that is not aligned with your goals.  

So, what areas of our lives should be considered for proper balance? I have carefully considered these most important areas of life and have narrowed it down to the aforementioned list. Through my incessant reading and conversations, I have constantly challenged whether these five areas truly capture the most important areas of life, and I have consistently come back to the same answer: yes, they do. Hopefully, you can take some comfort in that.

Now, in case you haven't read all of those goal setting books,  let’s talk a little more about the benefits of goal setting, as I believe there are several:

  1. Motivation - goals are the starting blocks of motivation. They give us a reason to get going.
  2. Independence - goals help us take charge of our own lives. Instead of following the crowd or wandering through life (does Alice come to mind?), we choose our own path, that one that leads to the fulfillment of our ambitions. 
  3. Direction - goals give us a destination. We’re far more likely to get someplace when we know where we’re going.
  4. Meaning - goals give us a sense of purpose. Life has more meaning when we’re clear on what we want. Instead of merely existing from one day to the next, our goals give us reasons to start really living.
  5. Enjoyment - goals are the antidote to the most dreaded social disease: boredom.  How can you be bored when you’ve got exciting things to accomplish?
  6. Fulfillment - goals, more than anything else, help us reach our potential. Setting goals helps us see what’s possible. Each successful step toward attaining them builds confidence.

So, goals will help you know and achieve balance and provide an abundance of benefits. The next question you should be asking yourself is, “How do i properly set these goals”? Try using the SMART technique: specific, measurable, achievable, realistic, and timely.  Think short term and long term. Write your goals down. Review them regularly. 

Lastly, goals have to start with a desire. You have to want it! So, what do you really want? As Napoleon Hill said, “The starting point of all achievement is DESIRE”. 

Now, when the cat asks you where you are going, you can answer with certainty, clarity, and confidence. It just might be more than he needs to know. 

Adam, how SMART are you??

by Adam

Oh dear… the bar just keeps getting higher and higher with this guy! First, he asks me about my purpose in life.  Now, he’s expecting me to be SMART?

I guess, upon reflection, that isn’t TOO unreasonable of a request.  But, if I’m being honest, there is one letter in that mnemonic that gives me the heebie-jeebies.  In principle, I aspire to be SMART.  But, often, I only achieve a resounding SMAT.  And, let's be honest: as a word, sound, acronym, and mnemonic, SMAT is much less appealing than SMART

Yes, my shortcomings in adherence to the SMART technique often stem from a shortage of realistic expectations.  It’s not that I sit around making outlandish goals all day: you’ve seen my mission statement, and it’s all meat and potatoes type stuff.  But, I think this proves Kevin’s point.  

If a lack of balance stems from a failure to achieve SMART goals, then the driving forces behind my goal-reaching failures are unrealistic expectations.  So often, it seems there are more “good” things to do than time in the day to do them.  The (easy?  lazy?  default?) approach to this conundrum would be to pay lip-service to certain goals, without taking the necessary steps to achieve them.  

For example: it’s entirely unsurprising and uncontroversial to say you want to be a supportive and committed spouse, but quite another to set aside the time and energy to unequivocally be that spouse.  It’s easy to devise a strategy to get in better physical shape, but quite another to still be hitting the treadmill 4 weeks into that plan.  Many a human-being has espoused their commitment to a goal, getting that sweet endorphin rush from the imagineering of future accomplishment, only to unsurprisingly find other priorities crowd out the path to that once-upon-a-time imagined destination.

True to form, I may just be projecting my own baggage on you (yes, YOU!).  But, I think this whole “realistic” expectations thing is much harder in practice than in theory.  It makes complete sense that your goals should be confined to what is achievable. It’s patently obvious that devoting time and energy to one thing inherently leaves less time for others.  But, in practice, it seems really hard to make trade offs.  It can be so much easier to pretend those tradeoffs don’t exist.

Maybe there are superhumans out there that are able to wave a magic wand and create more time and energy for themselves (Kevin?  Thoughts?).  I can assure you, I am not one of them.  So for me, balance is all about saying no to the right things.  Sometimes, that means saying no to “good” things (like professional opportunities).  Other times, that means saying no to “fun” things (like staying up late on a Sunday night).  Sometimes, it even means having the discipline to say no to easy things that get in the way of substantial things (like watching just...one...more... episode…).

Kevin raised the bar to a 5-letter word (SMART).  Am I just lowering it to a much less sophisticated 2-letter word? 

NO! Or at least, that’s not my intention! I do my best to only use NO in service of SMART goals.

But, let me level with you: I have not mastered the art of no, and I do recognize its shortcomings.  As humans, our lack of self-awareness often leads us to delude ourselves.  Once you hop on the NO train, you may find it shockingly easy to repurpose your “NO”’s to justify the path of least resistance, even (and maybe especially) when that is not the path toward achieving your goals.

I should probably stop typing before I do permanent damage here.  We’re still early in our mentoring journey; I’m worried I’ve just done the equivalent of handing a baseball bat to a drunk monkey.  Sure, you could use that tool carefully and with discretion, but does that sound like the most likely outcome?  It sure isn’t always the outcome for me.

Yes, I think I will end it  there, not least because after reflecting on my need to stop, I proceeded to compare you (yes, YOU!) to a drunk monkey.  Kevin?  Can you bail me out here?

by Kevin

Adam, put down the bat...and the drinks! You may not be acting SMART, but I think we can still continue this journey. As you indicated, saying NO may not be SMART, but it is definitely wise. It is also very difficult when so many options seem worthwhile to the journey. Deciphering between them takes diligence, honesty, and commitment. Thanks for making this all important point of saying NO!

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by Kevin 

Date August 12, 2020

Mentoring Meeting #1

I am hopeful that the following series of ongoing mentoring sessions will be valuable, not only to current students looking to launch within their chosen profession or young professionals  looking to make a leap forward in their career, but also to a mentor who is curious how they can be a reassuring resource to their mentee. 

In my belief, mentoring should capture all aspects of one’s journey: from spiritual to career and everything in between. However, these upcoming posts are contrary to this conviction—confused? So, let me explain...I thought it would be intriguing—and a little ambitious—to document one young person’s journey to accomplish a very specific career goal: to begin a career in investment banking. The intent of these posts is to allow the reader to experience how involved a mentor can be to help a mentee achieve a long term goal. 

This idea occurred to me after a recent meeting I had with a very ambitious college student: Jackson High. Upon our first meeting it was evident to me how driven, intelligent and personable Jackson is. Also, as I alluded to earlier, I was inspired to learn about Jackson’s very specific goal to begin a career in investment banking. Consequently, I will be documenting this journey as I ride alongside him—not knowing with any certainty where this ride ends!

First, a little more background on Jackson. Jackson grew up in Oklahoma City, OK and is currently a finance major at Oklahoma Christian University. Jackson graduated high school in 2018 and plans to graduate from college the fall of 2021, which means he will obtain his degree in three and a half years! In his primary and secondary education, Jackson was disciplined in the liberal arts, learning poetry, philosophy, and everything in between. Upon beginning college he majored in Electrical Engineering with the premonition that it would land him a stable, respectable job upon graduation. But, he soon realized that this would not lead to a life which fit his potential, nor one of fulfillment.

When Jackson first chose his major, he felt like wealth management would be the appropriate career to satisfy his career ambitions. However, during a restless evening searching for videos to watch on Amazon Prime, Jackson stumbled upon a documentary about Goldman Sachs. Six hours later he was sold not only on investment banking, but a dream to launch his career!

His excitement led him to LinkedIn to perform some research on Goldman Sachs’ employees. He desired to know more about “real” investment bankers: what do they do, and how did they get there?. Or more specifically, to answer the question: “what does Jackson need to do to get there?” He observed that, generally, their careers began as financial analysts—at least for the first couple of years. He also looked at the specific schools and advanced degrees they obtained prior to employment.  Jackson then read many online articles and a few books about investment banking to get a broader understanding of the industry. It was apparent to Jackson that his passion and strengths aligned nicely with what he was hearing and reading about investment bankers. 

Although Jackson’s first indoctrination in the investment banking world was inspired by Goldman Sachs, he understands that other investment banking firms could provide the career rewards he seeks. Jackson acknowledged that any national, regional, or boutique firms would be satisfying to his career cravings. 

I am excited to join Jackson on this journey and to document the strategy, action steps, and results along the way! Ideally, this will demonstrate to mentees how a mentor can assist with your career, and vice versa, how a mentor can be actively involved with the outcome of a mentee. Please remember, at this juncture, we do not know if Jackson will achieve his ultimate goal of investment banking, but we do know we will put in the proper amount of planning to put Jackson in the best position possible. Let the journey begin!

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by Kevin 

Deciding to obtain a graduate degree is a difficult decision, especially after you have started a successful and meaningful career right out of college. However, this is exactly the decision a young professional named Brian Davidoff had to make. 

I met Brian through a work relationship a few years ago. I will tell you that it has been extremely enjoyable to observe his steps toward career success. After graduating from Dartmouth, Brian began a career in finance with a reputable bank. However, as Brian will describe it, he felt something was missing...

Brian will discuss his reasons for transitioning to graduate school, as well as the uncertainty and the required determination along the way.  I hope that his journey will be motivating to anyone who is wondering if their current job is fulfilling their life purpose and if—perhaps—graduate school is the necessary step to capture the next phase of their career. Brian utilized his resources and grit to achieve success with graduate school, and I believe you can too.

Brian is currently an Associate in the Chicago office of Hines Interests, a global real estate investment, development and management firm with a presence in 225 cities across 25 countries.  Brian focuses on new developments and acquisitions of commercial real estate in the Midwest United States.  Prior to joining Hines, Brian completed his MBA at the University of Chicago Booth School of Business, concentrating in Finance.  Prior to Booth, Brian was an Analyst then Associate within the investment bank at JPMorgan Chase in Chicago.  Brian graduated from Dartmouth College in 2014 with a major in Economics.

by Brian Davidoff

In February 2018, I was promoted to an Associate position at a bulge bracket investment bank in Chicago.  As a single 26-year-old, I was making enough money to not want for anything, and my working hours were reasonable enough that I could actually enjoy this relative wealth.  Just six months later, however, I abandoned that career and started the two-year, full-time MBA program at the University of Chicago Booth School of Business.  So what happened?

The promotion to associate spurred self-reflection and more thoughtful consideration of what I wanted to achieve in and get out of my career. Around this time I started working with Kevin, who helped guide this reflection and planning.  My work in investment banking was well compensated, intellectually rigorous, and perceived to be a “good job” by my family and friends, but I was not happy on a day-to-day basis and could not see myself making a long-term career in the industry.  Once I came to this conclusion, it was time to make a change.  But how?

My family has always placed high importance on education, so graduate school had been on my radar.  Now, as I looked to make a career change, pursuing an MBA became the means to that end. With the education, network, and career resources of a top tier MBA program, I was confident that I could both identify a career that would excite me and be able to get my foot into the door of a new industry.  But first, I needed to gain admission into one of these programs, which required a stellar GMAT score, supportive letters of reference, compelling essays, a sharp interview, and meaningful work experience.

The summer of 2018 became dominated by applying to business school.  While my friends enjoyed the summer weather—boating on Lake Michigan or watching the Cubs at Wrigley—I was face down in my GMAT prep book.  Already long work weeks became longer as I would get up early to complete practice problems before heading into the office.  When test day came around, I was confident I would get the score I needed to get into a top school.  But then I didn’t.  The instantly-scored grade flashed on the computer screen, and my stomach sank.  The good news was that I could take the test again.  The bad news was that it meant three weeks of more studying and ever-higher pressure to do well the second time around.  Fortunately, I did. 

Still, a strong GMAT score was no guarantee of admission.  Plenty of deserving candidates would achieve the same.  So, I applied to a handful of schools, including Tuck Business School at my undergraduate alma mater. As an alum of the college and given my strong application, I thought I was a shoe-in.  Once again, I was mistaken.  It was bad enough to be rejected, but worse because it was the first school I heard back from, causing me to seriously stress whether I would get in elsewhere. 

Having worked in Chicago for the prior four years, my preference was to stay in the city, and Booth was my top choice for where to go.  The day before Booth officially released admissions decisions, I received a call on my cellphone while I was at work from an unknown 312 number.  I stepped away from my desk and answered.  On the other end was an admissions officer from Booth.  As soon as she spoke the word “congratulations”, I was euphoric.  Six months of soul searching, sacrifice, determination, and hard work had paid off.  I was extended a spot in Booth’s Class of 2020.     

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by Kevin

I would like to get existential with you for a moment, or is it too soon? If you ask me, I think we are ready!  So, if you agree, would you mind answering these questions:  Do you have a purpose? A reason to exist? Any motive for moving? I am sensing some uncertainty, so maybe I can help with the answer…..yes, you do!  

For those who were questioning their quest, I believe it is not because you don’t have one, I believe it is because you haven’t identified it yet. But, believe me, you have one. Now, it’s time you put in the time to “find your why”. You may already know the “what” and the “how”. But, Why do you get up in the morning? Why do you drive to work? Why do you leave work (well, maybe that one is easier to answer)? There is a reason for these reactions. However, the reasoning needs reflecting. 

To help with this existential exposition, take a moment to think about each of the following: What lights you up? What gets you excited? What have others praised about you? What are your strengths? What are your values? Are your answers found in your accomplishments? What roles do you currently play? Can you find your desires in those discussions? What challenges have you faced and overcome: divorce, loss, illness, job change in your past? Perhaps your mission is to help others overcome those same challenges? Most likely, you are already doing something related to your mission right now. And remember, you can’t do everything--so narrow it down!

Once you have responded to these questions, it is time to form a mission statement. The best way to easily draft a mission statement is to connect yourself with who--or what-- you are trying to serve. In my opinion, the most satisfaction you will have in your journey is to add value to someone--or something--else. That is one of the secrets to a successful life: so put it in your mission statement!

I thought it might be helpful for me to share my mission statement with you. This is actually the condensed version of my mission. I do have an expanded version I would love to share with you if you are so inclined to hear it. However, this version captures the idea of connecting myself with others. 

So, here it goes: “I will be Intentional with my Growth so that I can Encourage others to reach their maximum potential”. 

I would like to point out a few things that might be helpful to you as you draft your own mission statement. First, I used words that were extremely meaningful to me (which I capitalized for emphasis): Intentional (my favorite word of all time), Growth, Encourage, Maximum Potential (I know these are two words, but they go together so well!). Second, my mission statement captures my several roles in life (although not explicitly): husband, father, co-worker, mentor and friend.  And lastly--and most importantly--reading it gets me motivated and excited! It is comforting to  know that I am following my purpose if I am learning and encouraging, growing and giving, building and sharing…you get the point. I’m actually living my mission right now….through this blog. Simple, yet profound. It’s existentialism at it’s finest. 

Adam, did you discover your purpose in life?

by Adam

Nothing like trying to, in a few hundred words, answer a run-of-the-mill, everyday question like… DID YOU DISCOVER YOUR PURPOSE IN LIFE.  Thanks Kevin.  Appreciate the low-key lead in...

My first instinct is: man, I wish I had a better answer!  Maybe I should have dedicated my life to eradicating polio, sending humans to mars, or nudging beached whales gently back into the ocean.  Unfortunately, I’m confronted with this upsetting fact: instead of working toward any of those things, I spent last night watching TV and eating a re-heated quesadilla.  Now, here I am, facing this existential question from Kevin, without a demonstrable track-record for world-class selflessness or dedication to an unquestionably “good” cause.  

If you’re anything like me, your head might go somewhere similar when you hear phrases like “purpose in life.”  In my humble opinion: that’s ok.

Now, you might be thinking, “cool, I have the blanket endorsement of some internet loser who eats re-heated quesadillas, problem solved.”

First, let me just say… ouch!  “Internet loser?”  That’s pretty harsh.  

Second, for the record: I don’t eat reheated quesadillas every night.  Actually, not even most nights.  

But, third, before you write me off, at least let me step onto my soapbox, and attempt to make my case.

Any good mission statement has to come from a place of authenticity.   On its face, that probably seems like a perfectly logical statement.  But, are you connecting with what it really means?  Maybe you are!  But, again, if you’re anything like me...it might be worth reading it twice.

Authenticity means it has to reflect what you want for your life, based on your values.  We’re not asking you to pretend to aspire to things you don’t care about; in fact, please don’t!  When you think about it like that, you’ll realize that you already have a mission statement lurking somewhere inside you.

Here’s an excerpt from my mission statement, just to prove my point:

“I will focus my deepest energy on being a consistent and supportive husband”

Including that in my mission statement wasn’t breaking fundamentally new emotional ground.  In fact, I already stood in front of a crowd of my closest friends and family during my wedding, and said (basically) that same thing.  But, by putting it in my mission statement, I elevated it to be next to things like:

“I will work to create supportive environments at work and at home, prioritizing people whenever possible.”

And

“I will strive to focus my individual efforts on creating things that solve problems and are built to last.”

See?  Nothing groundbreaking there.  No commitment to solve world hunger.

So, if all of that is just a written version of how I already felt… what’s the point?

The point is, I have something more substantial to guide me, something more than a scattershot collection of vague feelings that bubble up every now and then.  I have a written statement that reflects what I decided, after deep reflection, are my true priorities in life.

Now, I’ll finally answer Kevin’s question: “Adam, did you discover your purpose in life?”

Yes!   …and, No!

I know it's based on positive interactions with other people, using my noggin every once in a while, and having the feeling that I’ve really built something.  So, in that way… yes!

But, in terms of specifics...no way!  Every day is a new adventure, and I’m constantly weighing the options of what to do next.  Maybe someday I’ll stumble into something that is universally recognized as having profoundly advanced the well being of humanity.  Cool!  Or, maybe I’ll just build a cool cabin out in the woods with some buddies.  Also cool!  If those seem like wildly different outcomes...its probably because they are!  But, as long as the inputs (and the journey) are consistent with my mission statement, I feel confident I’ll have fulfilled my purpose.

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by Kevin

As a college student, there are so many careers to choose from, it can undoubtedly be overwhelming. Even after you narrow down your educational goals to a major, such as accounting, there are still a multitude of opportunities at different companies and firms to navigate. I have meandered my way through this maze myself, and have watched countless others do the same. Still, I have never seen anyone more successful at attracting offers than Nick Stephens. Seriously, I think very highly of Nick, but it was mesmerizing to monitor the several suitors strongly seeking Nick’s services. 

Therefore, I asked Nick to provide his playbook to build relationships with accounting firms. I believe this post will not only be helpful to accounting majors, but also to every college student looking to land their first job and even—perhaps—receiving multiple offers along the way, just like Nick!

First, a little more background on Nick. Nick graduated from the University of Oklahoma in 2015, majoring in Accounting and Finance with a minor in Economics. Nick is currently an Investment Accounting Associate at Asana Partners. Prior to that, Nick worked four years as an auditor for both PwC and KPMG. During college he landed an internship with the accounting firm BKD.  

by Nick Stephens

Public accounting recruitment is a year-round process that seems to start earlier and earlier each year. There are many ways to navigate the recruitment process. I will discuss factors that you will have to consider, which events to attend, and individuals to develop a relationship with in order to have the most success.

The first factor to consider is whether you are interested in pursuing a career in audit or in tax. When I was first asked this question, I had no idea. I felt like I knew so little about both that it was essentially a coin toss. I asked around to get various opinions and try to determine the pros and cons of each option. Once you have an idea of which area of practice you would like to pursue, it is important to meet individuals that work in that practice of the firm. Firms are so large that the recruitment process can be very siloed. Each practice of the firm is recruiting for their own office and practice. Because of this, it is important to spend your time getting to know those in the city and field that you would like to work in, as those are the individuals who will have the greatest say in who to ultimately hire. 

 Beginning in the fall of sophomore year, firms will start to host events to get to know new students as well as maintain relationships with students that they already know. Firms rely heavily on recent hires to understand which candidates they should focus on, as recent graduates have the best knowledge of the current accounting students. Because of this, the first thing that younger accounting students should do is develop relationships with upperclassmen. When those upperclassmen get hired by various firms, they are going to recommend students that they know and would enjoy working with. 

Firms host a variety of events on campus - some are open to all accounting students while others are invitation only. I would encourage students to attend as many events as they can. These events are a great way for the firms to get to know students, but just as importantly, they are a great way for students to get to know the individuals at the firms and learn who they best connect with. Everyone will have varying advice about what to look for when deciding on a firm, but one of the most important factors is the people that you will work with day in and day out. When attending events, make an effort to meet individuals at all levels from associate to partner. While you will begin your career working closely with associates, individuals at all levels of the firm will have a strong impact on your career. 

It is also important to develop a relationship with the campus recruiter at each firm. These are the individuals that plan firm events on campus and are a great contact to have during the recruitment process. Campus recruiters will reach out to the students that they know and have developed a relationship with. Again, the best way to develop a relationship with them is to attend as many events as possible. There are so many students going through the recruitment process that you want to be known by the firms to avoid being overlooked. 

Once the interview process begins, candidates will apply for the firms that they are interested in. The first thing that firms do is check GPAs, only considering those candidates that meet the requirements. Once they have a list of candidates that meet their requirements, they will first focus on students who they have a relationship with. Those that have attended recruiting events and maintained communication have a large leg up over those that the firm has never met. 

Everyone’s recruitment process will vary, but there are a few things that you can do to differentiate yourself. This begins with meeting as many people as you can early on. Once you have met several firms, try to focus your efforts on a select few where you can see yourself beginning your career. The recruitment process can be overwhelming and if you can focus on a few firms and a few cities early on, it will allow you to build better relationships and have a better understanding of which firm is the best fit for you.