While having a virtual coffee with a CPA friend, Stewart Marshall at CloudControlCPA, he mentioned how in times like these, it is very much an exercise of bringing his clients back to the basics.
Simple questions like “Do you know your numbers? How much cash do you have? What are your receivables? What happens if revenue stops?” Noting that the simplicity and timelessness of double-entry bookkeeping remains the foundation of these questions.
This is one of the things I appreciate about the CPA mind; pragmatic questions that step aside the emotion and break large, complex issues into simple elements, which then allows effective decision making.
Perhaps it is Back to the Basics for All of Us?
The health and economic crises created by COVID-19 have stripped away everything extraneous. What matters most is now plainly in sight. And often, whether it is in our business or in our lives, it is really about getting back to the basics.
It is amazing that the holiday season was only three months ago, and many of us were focused on purchasing a new 4K TV, or Oculus Quest VR goggles or some other gadget. Or we were planning our next holiday to the sun to help ease our way through winter.
Today, none of that matters.
Our new reality has forced us back to simpler things; health, food, toilet paper, and do I still have a job? And increasingly to connection and gratitude.
Yes, there is more uncertainty, anxiety and worry. Yet, there is also more solidarity and commitment in our communities and organizations than ever before.
Yes, we currently have far less freedom than we are used to. Yet, most of us will experience more connection with family and neighbours than we have in a long time.
There is less traffic and more walkers, bicycles, and people home baking with kids. In so many ways, life has become simpler.
Using this As a Chance to Pause and Reflect
For some in our community (health care workers, first responders, people working in grocery stores), there may not be much time to pause and reflect.
And for some, there is unthinkable tragedy as they cope with the loss of a loved one. Or there is the overwhelming stress of having lost their job and the worry of running out of money.
But for the rest of us, we are suddenly finding ourselves with our lives stripped down to the basics. And while we most certainly face challenges and hardship, it may be easier now than ever to access gratitude. We are acutely aware of the gifts in our lives – our health, our family and friends, our jobs – if we still have one.
And we are more likely to be grateful for the little things – a walk in the sunshine (or even in the rain), a phone conversation with a friend, and enough milk and toilet paper to get through the week!
A tiny virus has upended everything and given many of us something we couldn’t find on our own; a pause and some space. Time and space to look at things afresh and reflect on what is important.
For me, I have a heightened sense of gratitude for many things that I often take for granted. The health of my family. My connection to my community. The commitment of unsung heroes like doctors, nurses, cleaning staff, first responders and checkout clerks.
So, I encourage everyone who has a little more time and space to think about what ‘back to the basics’ means for you. And what of that you might keep if/when things ever return to something more 'normal'.
Thank you for taking the time to read this post. Please share your comments or observations, as we all learn from each other.
And if you are a CPA who is seeking more resilience and peace of mind as you navigate our world today, please connect with me at scott@mindfulwisdom.ca. I help CPAs to delete the overwhelm, focus on what matters most and drive their future and I would love to hear where you are at. Or for more information, please visit my website at www.mindfulwisdom.ca.