What and who is an accountapreneur?
You will not find this term in the dictionary or Wikipedia, not least a definition.
Is it an accountant turned entrepreneur? Possible. Accountancy is among the few disciplines that provide a good foundation for a career in being your own boss. There have been cases of accountants turned successful entrepreneurs, but these are the rare breed indeed. While there aren’t many accountant-turned-successful entrepreneurs, an accountant can bring immense value to the success of an enterprise.
We define an accountapreneur as an accountant with an entrepreneurial mind. He/She is the entrepreneur’s right-hand man, works closely with the entrepreneur, understands the business well, and puts his supremacy with numbers to good use for the business. He/She analyses the numbers and makes use of them to help the entrepreneur plan ahead. At RSM, we always tell our clients what you cannot measure, you cannot manage. Many entrepreneurs start with great ideas and passion, which are great stuff to start with. Once they are on the growth path, they will need the skills of an accountant to interpret the performance of his business. The accountapreneur combines his financial knowledge and entrepreneurial mind to take a pro-active approach in helping the entrepreneur chart his growth or steer clear of anticipated obstacles.
So, how does an accountant have an entrepreneurial mind?
Let’s face the facts. First, if he/she has the entrepreneurial mind, he/she might not have gone into accountancy studies. Then when he/she is in school, it’s not the business of accounting schools to teach entrepreneurship. Do today’s successful entrepreneurs come from some entrepreneurship schools? Unlikely, so let’s forget about classroom lessons on entrepreneurship.
In our view, the fast track for an aspiring accountant to be an accountapreneur is simply to work alongside the entrepreneurs. You are not likely to train yourself to have an entrepreneurial mind if you work in a large organisation like an MNC. Why? In most large organisations, unless you are in the top management, you will probably be seeing a part of an elephant literally.
Would you be working alongside the boss of the MNC? Unlikely. You will probably be reporting to a Board instead, and need to spend some amount of time navigating the hierarchies. Due to the scale of business in an MNC environment, you as an accountant will take care of the financial affairs, and leave the business aspects to the rest of the management team. This structure may suit some people, but it is in our opinion, not a fast track to developing an entrepreneurial mind.
Heard about the proverbial 'throw someone in the deep waters and he will learn how to swim'? For those who dare and want to make a real difference to the success of the entrepreneur, we suggest you work with entrepreneurs or work in an organisation that allows you to mix with different entrepreneurs. Choose an organisation that has the culture and infrastructure to help hone your entrepreneurial mind. Aspiring accountapreneurs who are also looking to earn your CPA in your first few years can start at RSM Singapore.
RSM Singapore - where accountapreneurs are groomed
We work in what we call ‘Standard Fighting Units’ in your early years, and under the guidance of your seniors, you work with our clients who are mainly entrepreneurs. We train you to be the client's accountapreneur, even if the client has his own accountant. It is our differentiating edge with our clients.
When you earn your stripes to be able to lead a unit, you will be given charge of the unit. And yes, you run your unit like an enterprise. You plan your budgets, develop your team, and lead them to work towards the goals you have set. You see how your own unit fares with the rest.
We have regular technical and soft skill training to bring our people up to par - from when they become managers. Our training is customised for each stage of a staff’s progression up the leadership ladder.
Proprietary to RSM Singapore, the ‘GROW’ programme comprises a formalised structure and development framework. It was developed to support our people in their professional and personal growth so they can realise their talents and leadership potential.
To run your own unit and be accountable for it, well, does that not sound similar to running your own business? The beauty is at RSM you have the partners as mentors to help you along and you do not assume the risks that come with running your own business. The brand name and infrastructure is already set up for you. And yes, some of our alumni have indeed gone on to set up their own business in other fields.
Join us, as you grow your career in the way you want. Welcome to RSM!