Competitive Advantage: Bill Balhoff Brings a Family Approach to His Term as the AICPA's 101st Chairman
When reflecting on his life and career, Bill Balhoff can see the tremendous impact his parents guidance and work ethic has had. He comes from a big family--nine boys and two girls--all with a healthy drive for success. Balhoff feels fortunate to have been surrounded by supportive family members who take pride in each other's success. Throughout his career, he has also come to realize that a sense of family goes beyond the bonds formed with siblings. When people share in traditions and similar values--whether at home or at work--they build a sense of family. Balhoff, CPA/CFF, CGMA, views the accounting profession as a large group of high achievers with strong values. He believes that with continued collaboration and consistent, high-quality work, the profession can take the necessary steps to remain relevant in a business environment characterized by complexity and digital-fast change. In October, he became the 101st chairman of the AICPA, launching his term with a speech focused on quality as a hallmark of the profession. A FOUNDATION OF QUALITY Balhoff's focus on quality goes back to the beginning of his career at Postlethwaite & Netterville (P&N), where he began as a staff accountant in 1976 after graduating from Louisiana State University. As the firm's current managing director, he leads according to the same principles stressed by firm founder Alex Postlethwaite all those years ago: Start with quality service for the client. Everything else follows. Postlethwaite's unwavering emphasis on quality service led firm leadership to formally define its core values in 2011. The values form the acronym QUALITY--Q: Quality U: United with the community A: Accountability. L: Lifelong learning. I: Innovation and integrity. T: Teamwork. Y: Your co-workers. [ILLUSTRATION OMITTED] Although these values are specific to P&N, Balhoff believes that many of them are relevant to the broader CPA profession. During his one-year term as AICPA chairman, he will focus on quality, leadership, mentoring, and growth. SHARED VALUES Strong values were inherent in Balhoff's upbringing. His parents, John and Catherine Balhoff, provided a solid foundation of faith, a clear set of values, and an appreciation for family and tradition. "My parents had a strong influence on us and a very deep faith. Church and family were at the center of our lives," he said. Five siblings following John Balhoff into chemical engineering shows the great respect they had for their father, Bill Balhoff said. Bill, sixth in birth order, is one of three CPAs. At home, there was always someone to play a game with, either on the nearby baseball field or the dirt pad and basketball goal in their yard. Growing up with so many brothers and sisters, Balhoff learned to appreciate others' perspectives and to work in teams. He also honed his debate skills. "A lot of what we do as accounting professionals is negotiation and problem-solving. We have to help our clients understand what is right for them," he said. "Growing up, I had to learn to develop those communication skills, because we debated a lot. And to win, we had to be very persuasive." Balhoff lived at home during college, working at a furniture store and taking an interest in an LSU student named Sandra Guidry. He also took an interest in accounting. Although he was good at math, that wasn't what drew him. "Accounting isn't exactly a math field. It is more about problem-solving and working with others," he said. "I liked problem-solving, and I liked working with people." INSTILLING LEADERSHIP That passion for working with people has stayed with Balhoff throughout his career, which has been heavily affected by various leadership roles he has held at the firm and in the profession. Balhoff said he wouldn't have gained the leadership experience he has without a push from several mentors, including the firm's Alex Postlethwaite and Jake Netterville. …