It’a a proven fact that the value of pertinent experience increases exponentially as each year pertinent, relevant experience passes. In most developed societies, people with the most experience are still holding the highest positions in America (Senators. CEOs. President, Consultants) until they become incapacitated. Every culture from the American Indian to the Chinese reflect it. An entire career spent in several pertinent positions is Remarkable Experience . Others call it Exponential Experience.
In the accompanying graph, the exponential experience line continually curves becoming steeper as time passes, until it is going nearly straight up. The steeper the line, the more valuable a person’s experience is. After four or five decades, experience is hundreds or thousands of times more valuable than a person just starting out. The value of long, pertinent experience cannot be overvalued.
Here’s my graph.
• Big 5 accounting firm
• Big 5 consultancy
• C-Suite positions at two Fortune 500 companies
• Attempted to LBO global employer
• Ran for Congress
• Private practice
• Clients in 46 states
• See LinkedIn for career details.
Experience is the knowledge or mastery of a subject gained through involvement in or exposure to that subject. Terms such as “empirical knowledge” or “a posteriori knowledge” are used to refer to knowledge based on experience. Throughout history to this day, the most powerful and valuable people in the world are those with the most pertinent experience. People with grey hair are the world’s most experienced and most valuable.
Not all experience is equal. There is the kind of experience you get from just living, and there is pertinent experience. Bouncing around between trades or professions doesn’t add to your value. But an entire lifetime devoted to one area, such as tax, accounting & management, is quite valuable.
After graduating with highest grades from college, my experience includes a Big 5 accounting firm, C suite positions at two Fortune 500 companies and private practice.
My big accomplishment came when my team introduced mag stripe cards to the American marketplace. We thought we were solving banking’s paper problem., but we disrupted the entire economy. That disruption is still on-going. The odd thing was that was so successful, the company couldn’t handle the increased business. After vainly trying, it abandoned its tech leadership position. When the company made the pivot, I tried to LBO it, and failed. So I ran for Congress, and failed again.
Afterwards I found myself on the banks of the Colorado River where I started a private CPA tax practice. The internet was becoming a thing, so I took advantage. Ellis is not your dad’s CPA firm. We’re a creative, tax strategy powerhouse among the vanguard of a new breed of cutting edge, high performance virtual firms disrupting the tax & advisory professions with tax strategy, dedicated specialists & powerful cloud based technologies from our home in the cloud. Clients in 46 states & 5 countries.
Today we have a national reputation for tax strategy
Expertise & Exponential Experience are identical. The longer you work in a profession, the more expert, experienced & powerful you become. Experience in a wide variety of activities gives you wide experience without expertise. There may be value in that too, but not the deep value that comes with expertise.
If you want an to be an expert in a certain field, you want the kind of experience that builds and becomes better, deeper & more reliable over an entire career in the same profession spent at every level from the very bottom to the very top level. For tax professionals the very best experience begins at entry level at a Big 5 or Big 4 CPA firm, to a Global 500 or Fortune 500 C suite, then on to private practice. It will include interstate & international experience. In that case, the value of experience grows exponentially at 5% per year.
Expert: a person who has a comprehensive and authoritative knowledge of or skill in a particular area. I.e., “a financial expert” The four components of expertise are: Intellect + intuition + experience + performance. All are covered in this web site.