In the public accounting profession, making Partner is often seen as the end destination, but we believe it’s just a new beginning.
The first year of partnership is often one of the most challenging years in an accountant’s career. Sarah has experienced it firsthand, and we’ve both coached many others through this complex transition. We’ve helped them cultivate a more supportive mindset, effect positive change within their firms, become the leaders they want to be – conscious, kind, present – and model authenticity and confidence for the people they lead.
Last month, we explored some common mental pitfalls we see new Partners struggle with, including impostor syndrome. New Partners often feel a lot of pressure because they are seen differently almost overnight – by their more senior Partners and members of their team.
They feel like they need to have it all figured out and have all of their clients, projects, and team in a good place to meet a new standard of performance and participation. Right now. At the same time, they don’t yet feel they’re at the same place as the Partners they’ve been looking up to for all these years.
The struggles of impostor syndrome for new Partners are real. So, this month, we wanted to share some common questions related to this challenge that we’re often asked by new Partners.
Q: 
I’m used to being on the Partner track. How do I know what support and mentoring I need now that I actually am a Partner?
A: 
Look internally first. Ask yourself some core questions, and then ask others for help.
Your leadership development is definitely not over once you get promoted! You’re essentially starting over on a new career path, and it’s up to you to chart your course. This is your opportunity to look internally and discover the kind of Partner and leader you want to be, and where you need to grow to get there. Then, it’s up to you to seek out the resources to support you along the way.
It’s helpful to ask yourself some core questions:
- What does success look like for me as a Partner?
- How can I authentically prosper in my new role?
- What’s my Why?
- What do I value most? What are the values that will guide my leadership approach and decisions?
- What difference do I want to make at the firm?
- How do I want to show up as a leader?
We know this transition can feel chaotic because everything is new, the stakes are higher, and you probably feel like you don’t have time for anything extra, especially self development. However, you still need to set goals and create new avenues of support, just as you did on your path to Partner. Now is when you need it most – investing in your own growth and development will ease your transition and set you up for the success you want!
Q: I’m a first-year Partner and I feel overwhelmed. Help!
A: Get clear on your definition of success. Instead of asking how you can be successful, ask: How can I be successful in year one.
This question ties into the imposter syndrome we talked about earlier this month in our full article.
New Partners often define success based on what they see senior Partners doing, which sets the bar to an unhelpfully high level.
Yes, it’s wonderful to learn from more senior Partners and let them inspire your longer-term goals. But, also go easy on yourself and focus on more short-term goals to ease your overwhelm. Break your goals and measures of success into smaller time frames. Allow yourself to work on what needs to happen right now, in your first year, not 10 years into your Partnership.
The second question you need to ask: What does success look like, to me?
We often see first-year Partners questioning themselves:
- Am I good enough?
- Am I doing well enough?
- Did they make a mistake by promoting me to Partner?
Instead of doubting yourself, reset your expectations of yourself. You undermine your own path to success when you compare yourself in your first year to experienced Partners and think you need to be where they are. You’re comparing how it feels to be you in this moment (on the inside), with how it looks to be someone else (on the outside). You don’t know what they feel like, you only know what you see.
The only way to truly succeed is to decide who you want to be on the inside, how you want to feel, and how you can enroll those around you (peers, senior Partners, your team) to help you get there.
Q: How do I stop comparing myself to other Partners who are better at different things than I am?
A: Tap into what makes you unique.
Watch yourself when you start comparing your weaknesses to other’s strengths. When you do that, you will always fall short.
People are different, and some people will excel in areas where you don’t. This is also true for you–you excel in ways that other people can’t.
Identify and further develop your gifts and strengths because they are what got you promoted to Partner. They make you more important and valuable to your firm. Don’t spend all your energy trying to be good at the same thing your peers are good at–focus on contributing what only you can.
Ask yourself this question: What can I contribute that others can’t or aren’t excited about?
Find the answers to those questions, get the support you need to develop your talents, and bring your unique strengths to the table.
Whether you’re a newly promoted Partner struggling to find your footing, a senior Partner wondering how you can support those rising up behind you, or someone who aspires to be a Partner one day, we’re here to support you and your firm through this significant career transition and create more possibilities for your leaders and organization!
See you in the DOP,
