Intuit QuickBooks Connect 2023. Wow! What a conference! Have you ever had the experience where you get something that you never knew you really needed?
This month, I had the privilege of attending the annual QB Connect Conference in Las Vegas with our CEO Megan Beckler. Although we went into the three-day conference expecting it to be good, it exceeded our expectations on so many levels! Networking with 2500 like-minded professionals, participating in breakout sessions, and hearing from phenomenal main stage speakers was a combination of motivation, inspiration, and therapy.
We’d love to share with you some of the highlights from the keynote speakers and breakout sessions, as well as some fun photos of our time there. We hope this inspires you to dream bigger about the future of your business!
Jade Simmons – Main Stage Speaker
As a classically-trained pianist, first runner-up at the Miss America 2000 pageant, and independent candidate in the 2020 presidential election, Jade Simmons is a multi-talented entrepreneur, author, and dynamic speaker.
Drawing on her musical skills, Simmons spoke about maintaining harmony (vision), rhythm (numbers) and flow (purpose).
Vision
Referring to the proverb “Where there is no vision, the people perish,” Simmons extrapolated it to conclude that there’s weakness where there’s only vision, with little to no action. How can we create and maintain balance of vision and action in our lives?
Numbers
Numbers can make your vision go further. The CPAs, accountants, and bookkeepers loved hearing that there is “strength in numbers!” Don’t let numbers be an after-thought; use them to make intentional business decisions.
Purpose
We aren’t too far into our human existence when we long to find our purpose. Finding your purpose gets you down to one specific thing. This is your differentiator – own it!
Your purpose is not the thing you do. It’s the thing that happens in others when you do what you do.” – Jade Simmons
Ryan Reynolds – Main Stage Speaker
Ryan Reynolds took the stage to share what he’s gleaned from his three decades as an actor, producer and businessman, such as:
- Stay humble.
- Be willing to hear “no” a lot before you get a “yes.”
- Believe in your ideas, even when no one else does.
Reynolds also encouraged the crowd to not get stuck on any one good thing; always be willing to diversify and take risks. Especially with advertising and marketing, he believes that sometimes you’ve got to be more agile and move quickly. He referenced how his company, Aviation Gin, embraced “fast-vertising” in response to the infamous Peloton Bike Christmas commercial from 2019. Catch those clips here!
Another thing this crowd loved to hear was when Reynolds said that the accountants on his team are the grown-ups and are funny! (Was he just trying to make us feel good?!)
Adam Grant – Main Stage Speaker
We’re big fans of Adam Grant and his TED talks, books, and podcasts. If you haven’t yet discovered him, his website describes him as “an organizational psychologist and bestselling author who explores the science of motivation, generosity, rethinking, and potential.”
The wisdom he imparted at this conference did not disappoint, and tied in nicely with points that Simmons and Reynolds shared regarding vision and humility.
Communicating Your Vision
Referencing a study on communication miscalibration, Grant estimates that leaders under-communicate their vision by 9 times. If you under-communicate, people assume you have no vision.
If you are having trouble getting your team to see your vision as clearly as you do, he suggested taking something that is unfamiliar, such as your vision, and comparing it to something familiar that your team already knows. For example, did you know that the creators of Disney drew on themes from Hamlet when they created The Lion King? We all know what a success the final outcome was!
Generating New Ideas
Group brainstorming is not always as effective as we think, unless we allow individuals to “brain-write” individually, rate their ideas, and then bring them forward to the team for further discussion. This can help you avoid the “HIPPO” (Highest Paid Person’s Opinion) effect
Grant recommends having a quarterly “innovation tournament.” Staff is encouraged to bring new ideas forward and you provide a reward for the idea that is selected and piloted.
Humility
According to Grant, one of the most overlooked leadership skills is humility. Not only should leaders be willing to allow their staff to give them honest feedback about areas of strengths and weaknesses, but they should be willing to admit their weaknesses out loud. Your staff is well aware what you’re not good at. Be brave and state it out loud – or even post it on your door/desk! This communicates to your team that you’re working to improve.
Imposter syndrome isn’t always what we think it is. When we start something new or are asked to take on new tasks or projects that we’re not sure we can handle, it’s okay to feel insecure – and humble! However, we also need to remember that sometimes people see hidden potential in us that we don’t see in ourselves.
A final word from Grant: Take your work seriously, but don’t take yourself too seriously.
Breakout Sessions
We found the morning and afternoon breakout sessions of the conference to be pertinent and practical for us, and for any small business. They covered a wide range of topics.
Handling Difficult Conversations
We were urged to start with YOU before having a difficult conversation. Ask yourself, “What is the story you are telling yourself?” By questioning the stories you tell yourself, you can identify any biases, preconceptions, or misunderstandings you might have. This helps in approaching the conversation with a clearer and more open mindset. It also allows you to separate facts from interpretations, reducing the likelihood of reacting emotionally, so that you can facilitate a more rational discussion.
Remember that the listener determines the meaning of the conversation. Be mindful of your audience, use language that is accessible, and consider the potential interpretations that may arise based on the listener’s unique perspective.
Rather than giving “feedback,” give “feed forward.” Focus on what you’d like the employee to do next time instead of what happened in the past. For example, if an employee has been interrupting coworkers and dominating the conversation in recent meetings, you might say, “In the next meeting, can you make sure everyone gets a chance to talk?” People cannot change the past, but they are often willing to change the future.
Work-Life Balance
If employers want their employees to maintain a healthy work-life balance, it is essential for them to lead by example or no one will believe them. In order to foster work-life balance, consider these three elements: Giving, Growth and Gratitude.
- Giving: Empowers and elevates, trusts others, demonstrates transparency and vulnerability
- Growth: Empowers and delegates but also digs in and will “do” when needed, commitment to radical candor and real time feedback
- Gratitude: Say thank you, regularly give people positive feedback, have a positive mindset and an open mind.
This is a topic often on our minds, as seasons and family needs/situations continue to change for all of us at MBS! We explored it in this blog post.
Lessons from the Hospitality Industry
In the dynamic landscape of the hospitality industry, the fundamental truth persists that people crave human connection. It is the personal touch and genuine interactions that leave a lasting impression on guests.
Hospitality is almost impossible to teach, so hire the right people. Skills can be taught, so select employees based on traits and attitude.
Authentic human connections not only enhance customer satisfaction but also create memorable and meaningful experiences. Find ways to create an “experience” that breaks the norms in your industry.
When criticism comes your way, learn what you can from it, because 95% of criticism has some truth in it. Be ridiculously generous if someone is upset, since negative word of mouth spreads like wildfire!
Sales Cycle Loop
A sales cycle loop encompasses the various stages of the sales journey. The main elements include:
- Interest Building – let potential customers know that you exist
- Social media content
- Email marketing
- Speaking engagements
- Articles/publications
- Website
- Lead Generation – entry points for potential clients to express interest or seek more information
- Lead magnets
- Contact us forms on website
- Referral partners
- Prospect/Proposal – demonstrate a keen understanding of their challenges and how your services provide solutions
- Prospect consultations
- Proposals
- Client Support – deliver the agreed-upon services, but go further to ensure client satisfaction and a positive experience
- One-time projects
- Recurring services
- Ideally, the client support will generate additional interest in more services/referrals to restart the sales cycle.
QuickBooks
This post wouldn’t be complete without a plug for our beloved accounting software and what brought us to the conference in the first place! A couple of fun facts:
- By incorporating QuickBooks into their operations, small businesses increase their chances of success in the first 5 years from 50% to an impressive 69%!
- The majority (65%) of small businesses using the QuickBooks platform are connected with a bookkeeper or accountant.
The conference solidified our belief that Intuit QuickBooks is the best accounting and bookkeeping partner for our business and our clients. The closing remarks from Intuit QuickBooks executives summarized the changes that they continue to implement to enhance the platform, and their commitment to the industry as well as to small and midsize business owners.
We spend so much time working in our business that we don’t always take the time to work on our business. How often do we stop to consider “what’s possible?” and “what’s next?” At the end of the conference, we were asked to set our intention for the new year, because “education without action is simply entertainment.”
Although we don’t know exactly what MBS will look like in 3, 5 or 10 years from now, we know that we must continue to move forward intentionally. We plan to implement the numerous insights and lessons gained from the conference into our practices to spark progress and serve our clients exceptionally.
