As a part of my Accounting 303 class one year ago, I was privileged enough to listen to a reputable professional in the field of accounting. Two weeks ago, I returned to hear Tony's annual talk to the Accounting 303 students again. Stephen "Tony" Batman is a visionary entrepreneur whose accomplishments have vastly impacted the accounting and financial services professions. He was voted one of the most influential accountants in America by Accounting Today magazine for 13 straight years, and he is a frequent speaker on financial services topics and a leader in wealth management.
Tony is chairman, CEO, and co-founder of 1st Global, a financial services firm that offers business development advice to leading tax, accounting, and law firms. In addition to being a Certified Public Accountant, Tony is a Charted Financial Analyst, and a Certified Financial Planner. Because Tony is a graduate of the University of Kansas, he serves on the board of advisors to the School of Business and also gives talks to students on occasion.
I was first impressed with Tony when he walked around the auditorium, shaking hands and asking each student who had arrived early questions about themselves and their major. One year ago, he asked me where my home was and what my major is. When I told him I was majoring in accounting, he said I had made a wise choice.
He started off his presentation with an inspiring statement, "I am the person I am today because of three things: the books I have read, the places I went, and the people I met." He went on to say he is an average guy with insatiable curiosities. He then established rapport with the crowd by saying that when he was in college, he was overwhelmed by "choice anxiety", or being unable to choose a major. He was caught in what he dubbed "the opportunity wedge".
At this point, I was expecting him to ramble on about his accolades and achievements. I was proved wrong when he said that all of us seek three things in life: happiness, significance, and lives of meaning. Needless to say, this statement captured my interest.
Although Tony had some excellent insights to share, I was disappointed and confused by a few of his statements. First, he claimed adrenaline is the cement of memory. Does this mean the more ramped up we are, the more we will remember? It is difficult to retain much information when overcome with anxiety or excitement. Second, he claimed to be a strong supporter of Ayn Rand, the Russian-American novelist and dubious philosopher. Ayn Rand's philosophy is not philosophy, but pseudo-philosophy. In her writing, Rand ignores the basic tenets of logic and ethical reasoning by claiming that unfettered capitalism is the only moral social system. Third, he asserted that by listening to him, we could internalize his own experiences and make them our own. Empathy only can take a human mind so far. As my world religions instructor put it, "Words limit the experience". Eventually, you will have to actually go to a place or have a particular experience to get the essential knowledge you want.
He then transitioned into the topic of education. At this point, he asked the audience what the purpose of education is. One year ago, I raised my hand and when he called on me in a class of over 300 students, I said, "To expand our knowledge and to expand our opportunities." He agreed entirely. After a few more answers from the audience, he said the purpose of a professional education in the school of business is to master the language of business, which is accounting.
Next, Tony changed gears and spoke about the real business world. He said Wall St. and the "real economy" are often demonized by politicians and journalists. In fact, it is business and commerce that have solved more of society's problems than government he stated. He said the highest form of compassion a human being can have is to start a business because jobs are created and livelihoods are enhanced. He went on to say that if you want to prove your value to society, you do that by consistently solving complex problems for others.
I want to draw attention to just how much truth the content in the preceding paragraph contains. Think about the drugs we take, the products we buy. Almost everything we own was developed by innovative, visionary people and companies working with the aid of the free market to market, produce, and sell their inventions. When the government intervenes in an economy to a great degree, the prices of goods and quantity of goods produced in a given market are both thrown out of equilibrium. Thus, there are shortages and surpluses. One does not need to look further than the Soviet Union for an example of how price-fixing can result in starvation of a citizenry.
He then went into great detail about his own personal journey to successful CEO of 1st Global. In short, he started as a farm boy in a Kansas town near Salina. He attended KU and majored in business. Upon graduation, he applied for jobs at all of the Big 8 accounting firms and was hired by Arthur Anderson in 1979. From there, he became the Vice President of a real estate company, then switched over the private sector for another V.P. job. After that, he decided he wanted to start his own business in 1992. He said the most valuable lesson he learned in his career is that honoring your promises you make to people is the anchor of happiness. Then, he said as an entrepreneur, he is often asked the question of where his inspiration comes from. His answer is simple: lots and lots of experience and reading constantly. He also mentioned that courage is important. Here is a quote, "All great living is caused by never playing the coward's role."
After Tony finished his presentation, there was a brief question and answer session that lasted about 15 minutes. The first question was whether accounting is a time-consuming profession. His answer was absolutely yes. He said he spent 3,000 hours a year working at his first job at Arthur Anderson and gained a plethora of experiences. The next question was what he looks for in an interview. Tony responded by saying that the most selfish words a person can use in an interview is to inquire how this job will help your career. Second, the best question an interviewee can ask is, "How can I contribute to this company?"
All things considered, the good messages in Tony's talk far outweighed the confusing parts. I am fortunate to have listened to such a highly regarded and well-respected professional. What impressed me far more than anything else was his attempt to connect with his audience by taking the time to personally introduce himself to the students who had arrived early. My takeaway: you can be inspired on Friday mornings.
