Finding Purpose
By Dr. Jim Murray
The following is an excerpt from the original article published on smartleaders.ca
Having clarity of purpose and leading with it top of mind is crucial to being a smart leader. Knowing who you are, what you can and cannot do, which battles are worth fighting and which ones should be avoided is the sine qua non of leadership.
Purpose comes from within – a calling to which we feel intimately connected because it’s ours. It gives us a sense of urgency around what needs to be done and a tolerance for the stresses that often accompany our chosen path. Nietzsche once said, “He who has a why to live can bear almost any how. And, as Victor Frankl wrote, “Life is never made unbearable by circumstances, but only by lack of purpose.”
Humans crave a sense of both uniqueness and direction – a map to follow that utilizes our talents and engages our intellect. With this energy source, we understand what skills are required and what opportunities merit deeper exploration. We feel the pull of enquiry and adventure and are more willing to take calculated risks.
Our purpose provides an internal guidance system that neutralizes avoidance and discourages aimlessness. The tediousness that sometimes accompanies the learning of necessary things is replaced by curiosity and excitement. We become absorbed with flow – a state of mind where we are highly energized, productive and creative. Ideas are everywhere but now we see them. Because they serve our purpose.
Purpose is multi-directional. It can be good or bad. It can take one to a higher station by emphasizing the common good or a lower place by satisfying evil ends. Some psychologists contend there are basically three types of people in the world – they are either wise, foolish or evil. Each has a different purpose they seek to fulfill. The primary purpose of the evil is to destroy what matters to you. Wise leaders have a more noble calling. They are change makers – they know how to enable followers to achieve their full potential. They do this by giving them a reason to find genuine value in their work. This motivates extraordinary effort, enables cohesion and collaboration, and builds a platform for greatness.
Purpose enables a sense of direction by giving us the ability to make deliberate choices with greater precision and confidence. When we know what we want to accomplish, we become more confident, adaptive and resilient.
Without clarity of purpose, we cannot discern the skills, strategies or relationships we must nurture to achieve success. Without purpose, boredom festers and we feel increasingly insecure and indecisive. We focus on what we’ve not accomplished rather than what we have. We become fragile in the face of criticism and start questioning what we should have done, instead of feeling comfortable with what we did. We walk away from challenges we believe might result in failure.
Finding purpose doesn’t occur naturally or have an expiry date – it takes effort, experimentation and continual introspection. After taking one of my courses, a student emailed me and said “I’m 60 years old and I don’t know who I am.” She’s not alone. To paraphrase Carl Jung, everything we do before middle age is just research. In truth, building a life that maximizes one’s potential often begins around that time. And if you really don’t know where you want to go by then, it’s time to start answering some life-defining questions. Here are the ones worth contemplating:
- What fascinates me and makes me happy?
- How do I define success?
- What’s my core motivation – what energizes or inspires me the most?
- Is there someone I want to be like … who I can measure myself against?
- Are these real people or just models of desirable behaviour I’ve concocted in my head?
- What things am I really good at and what do I abhor doing?
- What would I like to say about my life by the time I reach my seventies?
- Does my work give me what I want out of life – what specific aspects of it are the most meaningful?
- What’s missing?
- What might my “perfect job” look or feel like?
- Have I considered what it will take to get where I want to go and am I prepared to do that?
Since the easiest person to deceive is yourself, make this internal monologue as honest as you possibly can.
Purpose comes more easily into focus when we develop the requisite skills that support it. Our personality is the sum of our skills. If you can’t strengthen your skills, you can’t master your purpose. Everything is hard before it becomes easy.
Set realistic deadlines for measuring progress. Develop a thick skin for criticism – not everything they say is valid and some of it is motivated by envy. Find coaches or mentors who are pragmatic visionaries and very good at what they do. Plot your own course in small steps; quantum leaps invariably fail. Know that you can’t find purpose on the cheap – every experience is a form of tuition.
See the value of serving something beyond yourself. Eleanor Roosevelt said, “When you cease to make a contribution, you begin to die.” Giving back is a noble purpose that gives us authenticity. We have a responsibility to embrace and cultivate our uniqueness – to create something that reflects what makes us different – and to share it with others. We must allow ourselves the luxury of exploring and adhering to the highest standards in our work and striving to make something that resonates in a meaningful way for others.
Purpose must be summed in a precious few but accurate words. Mine is to liberate genius and change lives. I’ve been privileged over the course of my career to touch thousands through my courses, books, blogs, performance coaching and strategic counsel. The objective is not to be a conduit of knowledge but rather to encourage women and men to ask good questions and think for themselves. Every day I discover how little I know and how much better I can become. I do this daily through relentless curiosity and hours of research. I can only achieve what I stand for by modeling the behaviour I ask of others. That’s my purpose – what’s yours?
DR. JIM MURRAY, Hon BA, MA, MSc, EdD is CEO of optimal solutions international, a firm dedicated to helping people and organizations achieve their full potential. Jim has taught his courses for CPABC since 1982. He is the architect of several executive development programs for five provincial CPA bodies, has published four best-selling books and provided strategic counsel to over 600 organizations. He has been nationally honoured by the university community and formally recognized for “excellence in the design and delivery of life-long learning”. His full bio is on SmartLeaders.ca.
Learn from Dr. Murray at one of these upcoming sessions: Hire the Best, Keep Them and Fire the Worst; Human Behaviour and Cultural Differences; Tactic Recognition and Response; The Creative Problem Solver’s Toolbox; The Framework for Negotiating Mastery; The Science of Fearless Decision Making; Why Successful Companies Fail: Forewarned is Forearmed; Team Bargaining and Mediation
Four Essential Areas CPAs Should Master for 2025
The accounting profession is evolving rapidly as the world becomes increasingly interconnected, digitalized, and conscious of ethical and environmental concerns. CPAs in 2025 will need to embrace key developments in ethics, Environmental, Social, and Governance (ESG) reporting, artificial intelligence (AI), updates to accounting standards, and tax regulations to remain competitive and effective.
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Here are the areas CPAs should focus on to excel in this dynamic landscape.
Ethical Leadership in a Digital Era
As technology becomes more integrated into accounting, CPAs face ethical dilemmas in data usage, transparency, and decision-making. The importance of maintaining public trust and professional integrity has never been greater. CPAs must commit to continuous ethics education to navigate issues like data privacy, cybersecurity, and conflicts of interest.
AI and automation, while offering efficiency, raise ethical concerns about bias in decision-making algorithms and the potential misuse of sensitive financial data. CPAs need to understand these technologies deeply, not just as users but as ethical overseers, ensuring compliance with established professional codes of conduct.
Expertise in ESG Reporting
Environmental, Social, and Governance (ESG) reporting is becoming a cornerstone of corporate accountability. Stakeholders, including investors, regulators, and consumers, increasingly demand transparent ESG disclosures. CPAs must develop expertise in frameworks like the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB), and the forthcoming International Sustainability Standards Board (ISSB) guidelines.
The ability to quantify and report on non-financial metrics such as carbon emissions, diversity initiatives, and governance structures will set CPAs apart. As regulators enforce mandatory ESG disclosures, CPAs must help organizations align their strategies with sustainability goals and regulatory requirements.
Harnessing the Power of Artificial Intelligence (AI)
AI is transforming the accounting profession by automating routine tasks, enabling real-time data analysis, and uncovering insights that drive strategic decision-making. CPAs who can harness AI to optimize audit procedures, enhance fraud detection, and forecast financial trends will have a competitive edge.
However, mastering AI requires more than technical knowledge. CPAs must understand its limitations, such as potential biases in machine learning models, and ensure that AI-driven insights are transparent and reliable. Staying informed about advances in AI and incorporating them responsibly will be essential.
Navigating Evolving Standards and Tax Regulations
Accounting standards are evolving to keep pace with globalization, technological advancements, and emerging business models. For example, changes to revenue recognition, updates to International Financial Reporting Standards (IFRS)and financial instrument standards have profound implications for financial reporting.
Staying ahead of updates to accounting standards and tax laws, including corporate tax, GST/HST, estate planning and personal income tax, is essential. CPAs must act as trusted advisors, guiding businesses and individuals through complex compliance requirements while identifying opportunities for efficiency and strategic planning.
To thrive in 2025, CPAs must go beyond traditional technical expertise. They must embrace continuous learning, ethical stewardship, and technological proficiency. By mastering emerging areas like ESG reporting, leveraging AI, staying current with standards updates, and navigating complex tax systems, CPAs can remain indispensable as trusted advisors in an ever-changing business world.
Adaptability, innovation, and a commitment to lifelong learning will be the keys to success for CPAs in the years to come.
Guiding You Through Complex Cross-Border Tax, Estate Planning and Executive Compensation Strategies
Meet Jennifer Reid, CPA, CGA, TEP, Senior Manager, Tax – International Private Client Services, at RSM Canada LLP in Calgary.
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Jennifer specializes in assisting private clients with international tax and estate planning issues such as immigration and emigration, dual citizenship considerations, foreign inheritance and foreign investment and asset ownership. Jennifer also assists in designing meaningful executive compensation plans where cross border considerations are front of mind.
Jennifer has practiced tax services in Calgary for over 14 years, with a focus on private companies and their owners, as well as trusts and estates. She has experience assisting clients in planning their estate, including considerations such as insurance, trust and probate planning, cross-border planning as well as in transitioning businesses to the next generation or new owners in a tax-efficient manner. Jennifer’s previous experience in Big Four and boutique tax groups, as well as unique experience gained in leading a wealth planning group at a financial institution, allows her to take a holistic approach to tax planning for entrepreneurial and high net worth clients.
Jennifer takes an active role in mentoring the next generation of tax professionals across Canada, through her continued involvement in facilitating multiple parts of the CPA In-Depth Tax Program. Additionally, Jennifer was the 2018 level one recipient of the Jeff K. Jutzi Facilitator Award for outstanding contributions to the In-Depth Tax Program.
Attend one of Jennifer’s live virtual seminar on Corporate Tax - Compliance and Planning in T2 Preparation, Corporate Tax - RDTOH, CDA and Other Tax Accounts, Corporate Tax - SBD and Private Corporate Groups, RIP - Estate and Testamentary Trust Returns, Taxation of Domestic Trusts - Fundamentals, or Income Tax - Investment Income.
October/November 2024
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