Category: Build A Lifestyle Practice

30-Day Tax Firm Marketing Challenge: Day 17


Online Marketing

Priotize lead magnets ideas and outline one.
Estimated Time: 60 minutes

Grab your brainstorming list of lead magnets yesterday.

For each item on the list, you’re going to give it a score of 0, 1, or 2, across three different categories…

Interest: Your interest in actually creating this particular lead magnet. If you cringe at the thought of having to do the work to actually produce it, then give it a zero. If you think could actually be interested in making it, give it a 2. If it could go either way, give it a 1.

Ability: Some things are simply easier to create than others. A book, for example, is a big task, even though one can literally be written in a weekend (it’s not a fun weekend). Even a one page PDF can be a lot to create, if it’s a flow chart or infographic. Those require more time and effort than some people realize. So consider your ability to create this in a timely manner. Assign a score of 0 for something you don’t think you could actually get done, and a 2 for something that would be easy for you to create.

Value: What will be the perceived value of this lead magnet to the prospect? Things that provide a precise solution to a very specific problem will always have the highest value. Be sure that you’re looking at this from the public’s perspective, not yours. With a critical lens, assign a zero to those items with the least value, and a 2 to the items with the highest perceived value to the public.

Now add up those scores. The maximum score is obviously six. How many sixes do you have? Any fives? Fours? I wouldn’t consider actually pursuing anything less than a four, for what it’s worth.… Continue reading

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The “Pursue Your Passion” Generation

There is a lot of rhetoric out there about chasing your dream and crossing the chasm and creating a “muse” business.

But, here’s the harsh reality: It’s all complete BS.

There are many, many “experts” out there trying to sell you a particular paradigm. Essentially, some publishers and organizations, including your state and national societies, are trying to convince you that our profession is an island, and wholly isolated from the risk of job losses and business failure due to advances in technology. We’re not manufacturing, they say, so the robots can’t displace us.

Fast forward to this pursue your passion nonsense.

Let’s be real here. It doesn’t matter if tax, accounting, bookkeeping, etc. is your passion or not.

Trust me, tax is not my passion.


Never, ever forget: I got into the tax resolution world as a means to an end.

I was bankrupt and homeless — literally living in my vehicle. When I entered the tax profession, it was merely a J.O.B., intended to put food on the dashboard. At the time, I really didn’t care what I did to earn money.

But I learned to love it.

I found pieces of this business that I could be passionate about. The statistics, the marketing, nuances within the IRM and IRC. Basically, all the stuff I could geek out about.

I found a place within taxation to exert my true passions.

You need to do the same. We work in a fairly thankless profession, but you don’t have to love the tax work itself. In fact, you don’t even have to do the tax work. All tax and accounting work is a technical skill with plenty of knowledgeable (and licensed) practitioners looking for work. You can hire people to do the grunt work for you, and focus on the … Continue reading

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How (and why) to Become a CPA Late In Life

Sometimes in life, you need to take the road less traveled — and never look back.

If you’re already a CPA or attorney, you can tune out. This article won’t be of any interest to you.

Last year, I wrote a post about why all unenrolled preparers should become Enrolled Agents. If you don’t want to read that whole thing, it basically boils down to this: The simple ability to sign a Form 2848 can rapidly double or triple your income.

Today, I’d like to make the case for becoming a CPA, even if you’re a late-career professional.

Why You Should Consider Becoming A CPA

Let’s start with the most obvious reason: Despite the fact that the EA license is actually older than the CPA license (1884 vs 1896), the CPA community won the war for American “mindshare” when it comes to professional status and relevancy in relation to tax matters. It doesn’t matter that only 1/3 of American CPAs have a PTIN, typically only take one college class on federal taxation, and are never vetted by the federal government in regards to their actual tax knowledge and competency.

What matters is public perception. Whether us EAs like it or not, we will always be stuck explaining what we are and where our license comes from. If you ask any member of the public what profession/occupation a tax professional is, they’ll all automatically answer, “CPA”. That’s what I mean by them winning the war for “mindshare”. Simply put, the CPA community did a better job of branding and marketing themselves in the early 20th century, and EAs didn’t.

So, there is an automatic and very tangible marketing boost that you get from being a CPA that EAs, let alone unenrolled preparers, just don’t have.

I will say that this has not been a hindrance … Continue reading

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