Hot Topics 
4/21/2012
Leadership Award for Andrée Guy, CA. F.Adm.A, Partner at PSB Boisjoli.
4/6/2012
Summary of the March 29, 2012 federal Budget
On March 29, 2012, The Honourable Jim Flaherty, Canada Minister of Finance, introduced his budget. PSB Boisjoli is pleased to provide you a link to a summary of the March 29, 2012 federal budget
3/24/2012
Summary of the March 20, 2012 Québec Budget
On March 20, 2012, the Finance Minister of Quebec, Raymond Bachand, presented his budget speech.
PSB Boisjoli’s Managing Partner featured in a new book
2/17/2012
Marc Elman, featured in a new book
Marc Elman featured in new book - Leading an Accounting Firm, the pyramid of success
AICPA book offers path to engaged leadership to help firms grow
Marc Elman, managing partner of PSB Boisjoli in Montreal, Canada is featured in a new book written by Troy Waugh and published by the American Institute of Public Accountants. Elman is quoted throughout the book and he is featured in the Chapter dealing with “Self Discipline: Be the Master, not the Victim”. “Marc Elman leads by example and has invested many hours and years learning how to develop a vision for his firm and help his co-owners achieve that vision”, says author Waugh.
Although Marc Elman was a severe asthmatic as a youngster, he challenged himself to do what he could to conquer the effects of the disease. He began jogging, then running, and later running marathons. Approximately four years ago Marc completed an Ironman Triathlon in 13 hours that consisted of a 2.4-mile swim, a 112-mile bike ride, and a 26.2-mile marathon. He believes that for a person to lead, that person must first lead himself or herself. Then, he or she can lead others through the life that he or she models.
“If you are going to lead others, you must be willing to be out front and often heading into the unknown. That is scary,” Marc says.
Mark’s father pushed him into the work world, and he learned quickly that manual labor was not his cup of tea; however, he enjoyed selling Amway and Filter Queen products and clothing in a retail store. He learned to meet people and provide customer service. He overcame his introverted instincts by moving out of his comfort zone into direct sales, where he was very uncomfortable and yet exhilarated. At age 17, he traveled to Israel and parts of Europe, expanding his mind to the global opportunities for interacting with other people.
Partner Steven Moses describes in detail how Marc has affected his life and career.
I would not be who I am or what I am today without Marc Elman’s leadership. I talk about it every day with my wife. Marc’s a role model who rubs off on me professionally and personally. He exhibits a constant striving to be the best.
Marc became the leader of the firm through a drive to lead the firm as a business and build up the people and partners to be their very best. Marc realizes you’re only as good as your people.
His strengths in leadership are several. Number one, he leads by example, which is very important. Number two, his business sense is crucial. He has this incredible focus and places our firm within the best strategic position of advantage, identifying opportunities, putting a strategy in place to profit from those opportunities.
Marc is very good at identifying people’s strengths, and he has the ability to draw out the best of those strengths from the various players to stretch their comfort zones. So, when you’re able to get people to go outside their comfort zones, you get great results, and you make the people better professionals.
Marc has been leading PSB Boisjoli for over 10 years. Challenging both himself and others, his leadership has carried the firm into the major leagues of accounting, tax, and consulting services for local, national, and international companies. Marc joined his firm in 1982 upon completion of his studies in accounting. He obtained his CA designation in 1985 and became a partner in 1988 after successfully leading the tax services division for several years. He also acts as an executive and board member for community and charitable organizations, including schools and youth camps.
Troy Waugh is the author of 3 books and has been selected as one of the 100 most influential people in the accounting profession for 8 years in a row by Accounting Today magazine. Waugh’s book, Leading an Accounting Firm: The Pyramid of Success, makes a key distinction between ordinary management and the kind of incisive leadership that ensures a firm will thrive. He contends that many firms are well-managed and “under-led.”
AICPA research bears this out. This year’s Private Companies Practice Session survey, for example, found that “partner accountability,” in terms of contributions to business and staff development, is one of the top two concerns for firms with 11 or more professionals.
“Leadership is about direction, strategy, effectiveness,” Waugh says. “Management is more about efficiency. If you manage people like you manage projects, they will feel manipulated. They have to buy into your vision of where you’re going.”
To lead a team of motivated professionals, it’s vital to communicate where you plan your firm to go, how you’ll get there—and most importantly, what the team will get out of it. The special challenge for accounting firm leaders: Many Chartered Accountants are “reluctant communicators,” according to Waugh.
Using a pyramid as a model for organizing principles, Waugh says practice leaders first need to work on self-knowledge, acknowledging weaknesses as well as strengths. Other keys include:
· Mentoring and staff training that boosts professional development for employees
· A leadership approach that balances accountability with empowerment
· Putting the right business processes in place, with systems that accurately measure progress
· A strategic vision and core values that everyone in the firm can embrace
· Last but not least, a succession plan for leaders that ensures lasting success.
Waugh solicited comments and insights from dozens of key leaders within accounting firms. Most agreed that, while some people are born with innate leadership skills, others can cultivate those same abilities.
“You can learn to be great leader,” Waugh says, “no matter what your personality may be.”
To purchase a copy of the book, you may go to the American Institute of Public Accounting web address: www.cpa2biz.com/LAF or to www.therainmakeracademy.com
To arrange an interview with Marc Elman, please contact him at 514 341 5511 or melman@psbboisjoli.ca or with Troy Waugh, please contact him at 615 373 9880 or troy@therainmakeracademy.com .
624 Grassmere Park Drive, Suite 15 ■ Nashville, TN 37211 ■615.373.9889 ■ 888.797.7246 www.therainmakeracademy.com
