4 Search Results for "busy season" or "tax season"

Five Business Development Mistakes to Avoid

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Businessman working on laptop with wall of symbols scribbled behind him

Don’t have a skill? Hire someone who does.

By Sandi Leyva
The Complete Guide to Marketing for Tax & Accounting Firms

If you’re a sole practitioner or small-firm operator, you’re probably very good at what you do – or you wouldn’t be in business today. But when it comes to marketing and selling yourself, well, many of us didn’t voluntarily sign up for that part.

MORE: Twelve Ways Your Business Card Can Hurt You | How to Use ChatGPT to Create Images | How to Leverage ChatGPT During This Crazy Tax Season | Got FOMO When It Comes to AI and ChatGPT? You Should: Here’s What You’re Missing | Create a Bad Website in Ten Easy Steps | Eight Steps to Getting Started with AI: A Guide for Tax Professionals | How to Weather Any Economic Storm | Leverage Your Strengths to Beat Stress
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As a matter of fact, some of us are resisting – kicking and screaming – marketing ourselves. So no wonder, for some of us, business is slow or not growing at the rate we’d like.
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Firm Not Thriving? Five Fixes

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Plant seedlings growing out of coin stacks , both increasing in size

Taking steps “little and often” works, but you have to get started.

By Martin Bissett
Passport to Partnership

A big concern in recent years has been how the incoming partners will purchase equity or fund the capital account and exit of a retiring partner.

Much has been written that examines the mathematical complexities of this topic but the bottom line is simple. Would-be partners in the age demographic of 28-42 are part of a generation who are already heavily borrowed in the form of credit card debt, mortgage debt and other forms of personal loans.

MORE: Five Questions About Facing Challenges | The Real Math Behind the Sales Pipeline | Keep Business Development Going During Busy Season | Walk the Commitment Walk | Two Steps Toward Mastering Selling | Thirteen Ways to Show Commitment | Clients Can’t Grow without You | Seven Mistakes in Winning New Fees | How to Develop Your Communication Abilities | Five Questions for Measuring Partner Potential
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Their capacity to borrow in the current economy is extremely limited and it would appear that this will be the environment for the foreseeable future. In turn, banks’ willingness to lend has also been largely withdrawn in recent years.

This has produced a cash impasse that has forced partners to consider gifting equity, especially on the basis of time served in the firm. There is not scope within this piece to give full examination of best practice within this area except to highlight that 72 percent of partners surveyed highlighted that a senior manager’s ability to “buy in” to the firm and assume responsibility for funding the retirement plans of exiting partners was among their top three concerns about passing their practice on to existing employees.
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Busy Season Is Over, So It’s Time for Some Resolutions

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Twelve things to do before you get busy again.

EDITOR’S NOTE: The end of every busy season means a new beginning for practitioners, which is why we thought this Q-and-A was particularly timely.

By Ed Mendlowitz
202 Questions and Answers: Managing an Accounting Practice

Question: Do you have any suggestions for the New Year?

MORE: Hold Staff Accountable If You Want Them to Listen to You | When Selling a Firm to Staffers Is Tricky | Courting a Client? Don’t Give Too Much Away for Free | Nine Tips for a Healthier Tax Season | Fifteen Strategies for First-Time Supervisors | Measure Knowledge Gaps (Then Close Them) | Should You Offer Financial Services? | Ready to Retire? Selling Your Practice Is No Strategy | 20 Things You Need for a Business Valuation
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Answer: Checklist of things to do in the New Year:

  1. Stop marking SALY next to your New Year’s resolutions. Make one or two big-time life goals resolutions that you will do.
  2. Check your personal insurance coverage. Make sure you have adequate uninsured motorist, umbrella, workers compensation at your home and life insurance.

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