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Why Your Tax Season Business Model Is Probably Flawed

One of the beautiful things about being in the tax industry is that we have the flexibility of choosing any number of business models we’d like in order to create the lifestyle we desire. Very few professions permit this level of work/life balance. For example, there is the business model upon which nearly the entire retail tax preparation industry is based: The purely seasonal model. In this model, the business is literally only functional, with the doors open and staff and clients in the office, for a few months each year. For 2015, this means generating nearly every dollar of revenue between Jan. 20 and Apr. 15. This business model allows even the solo practitioner to earn a comfortable six […]

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Tax season client reactivation process

Do you lose tax preparation clients each year? Some tax offices experience a higher rate of client turnover than others. Depending upon your target market, business model, and fee structure, your turnover rate can vary quite widely. There are offices out there that experience turn rates in excess of 20%. For some of you reading this, that might sound insane. For some others reading this, you might love to have the problem of “only” experiencing 20% client turnover. Never forget that acquiring a NEW client is the most expensive thing you can do in terms of marketing your professional tax services. While marketing to acquire new clients is definitely my primary focus on this blog, never forget that it’s far […]

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Four years later, it’s the end of an era

Today marks a special anniversary for me: It was four years worth of Mondays ago today that I made a life-altering decision. I walked out on my day job to enter the world of private practice and become a nomad. Six weeks later, I was traversing a still-slick Vail Pass on a heavily overloaded motorcycle, threading the needle between two major snow storms. I remember stopping for gas along I-70, and people looking at me like I was nuts. I was also freezing my butt off. But it was all worth it. I managed to rapidly build myself a successful, “stereotypical” tax resolution practice, and then just as quickly scaled it down to “boutique” size. While doing that, I’ve literally […]

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Do you have a pre-season tax prep marketing plan?

This week, founding members of my brand new Platinum Inner Circle program received the detailed pre-season marketing plan for my new tax office in Washington state. (If you’re a Platinum member and didn’t see that yet, you can find it in the members area under “Marketing Materials”). Over the past couple days since releasing that document, I’ve had some exchanges with Platinum members about the marketing plan. A couple members had existing pre-season marketing plans, but most have not. Your pre-season marketing plan sets the stage for your entire tax season. I know what some readers are saying… “October 15th is next week. I don’t have time to worry about this right now.” To which I reply, “Wrong answer!” Here’s […]

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How to skyrocket your tax business

Revenue growth. Do you want that? Everything I write about in these Tax Marketing Tips… Everything I discuss on our Premium member Q&A calls… Every book, every course, every seminar… It’s all about helping you to achieve revenue growth. If growing your client base…increasing your fees…and making more money are NOT your objective, then please click the “unsubscribe” link at the very bottom of this email. Seriously — I mean that. Still with me? Good. You just passed an important test. Certain things in life are worth fighting for. I’m not going to go into details right now, but right now I’m fighting for something that means more to me than anything (yep, even more important than taxes!). Today has […]

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Maximizing tax office efficiency

When your tax practice operates at maximum efficiency, you are leveraging your strategic assets to produce maximum profits. Most of us are in this business for the sake of creating profits. Otherwise, what would be the point of driving ourselves crazy with tax code and clients, right? In my experience, when you are operating at maximum efficiency, you are able to enter an interesting world: Choice. I have long stated that your business should exist at your whim, not the other way around. Efficiency allows you to reach a state of being able to control certain variables — hold them steady — while allowing others to change. For example, if you want to hold your weekly workload steady to around […]

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What’s *actually* important in your tax practice?

“Lately it occurs to me: What a long, strange trip it’s been.” –Robert Hunter, “Truckin’” Going to Burning Man is like spending a week in an alternate universe. It’s an event that is almost indescribable to somebody that hasn’t been there, and it’s even more difficult to define exactly what it’s all about. Having been to Burning Man before, I experienced this year’s festival through a slightly different lens. In fact, this year’s week in the desert turned into more of a business planning retreat than anything else. Some readers from the accounting world may be familiar with the concept of an annual retreat. Traditional, this consists of several days each year wherein the partners of a CPA firm disappear […]

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Making a million bucks, by the numbers

One of the tasks I’ll be embarking on after settling down in Washington state next month is the updating, revision, expansion, and editing of all of my published books. Before the end of the year, I’ll have new editions of each book done. The first of these to get the update treatment will be my book about building a million dollar taxpayer representation firm. A lot has changed in the 18 months or so since I last revised that particular work, and I need to update it to reflect the ever changing realities of doing tax resolution marketing. One of those realities is that the cost of client acquisition has gone up a little bit. The primary reason for this […]

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Have you written your book yet?

It’s the final few hours of the NAEA national convention here in Las Vegas. It’s been a blast getting to meet some long-time Tax Marketing Tips readers face to face, plus being introduced to many new readers as an exhibitor here in conjunction with NTPI. Many thanks to everybody that has dropped by to chat! This week I want to touch on a subject that is a little off the beaten path of my normal messages: Authority positioning. We live in a culture that loves to love expertise and authority positioning. If you think about it carefully, it’s the reason NTPI itself exists. As a profession, we tend to embrace anything and everything that that let’s us display expertise (I’m […]

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Cultivating long term relationships with your tax prospects

So you’ve been offering special reports and other educational items to your target audience, and you have built a prospect list of folks that have ordered your information. Once you have built a list of prospective clients, what exactly do you do with that list? First of all, don’t be disillusioned into thinking that you are going to convert every prospect you communicate with regularly into a paying client. And yes, you need to be communicating with them regularly. It is through this long term communication that people come know, like, and trust you. And never forget that people do business with people that they know, like and trust. Don’t forget that the same holds true for your existing clients […]

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