What Makes a Successful Strategic Plan?

cute furry monsterFacing the monster issues.

By August Aquila
Creating the Effective Partnership

During the next several months, firms will be meeting to develop a strategic plan for the coming year or two. It’s a summer ritual for many firms.

MORE for PRO Members24 Points for AFTER the Deal Is Done | Innovate or Die | 3 Ways to Halt a Poor Leader | Partners Love, Hate Leadership | 8 Questions That Staff Ask In a Merger | The 4 Best Ways to Use Your Senior Partners | 11 Steps to Building a Better Partnership Team

However, the plans that are usually developed don’t address the real issues that firms are facing.

A client recently asked me, “What can we do to develop an effective strategic plan?” I’m not sure if he liked the answer or not. I am still waiting to hear if my proposal was accepted. Let me share with you what I said to him.

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9 Key Elements for Growth, Success

Five office workers use ladder and one person's shoulders to direct long red arrow to trend upwardPut them to work for you.

By Ed Mendlowitz
Tax Season Opportunity Guide

What is needed for growth and success?

MORE ON TAX SEASON: Six Directions for Your Life and Your Business | How to Think Like an Entrepreneur | 40 Other Services Your Tax Clients Should Know About | Eliminate Tax Season Excuses | 16 Qualities of a Good Tax Season Client | Small Tax Season Leaks Can Cause Great Damage | When ‘Quick and Easy’ Tax Season Research Isn’t | 11 Clear Client Instructions to Make Your Tax Season Easier | Have Fun This Tax Season

All these elements are essential:
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Six Directions for Your Life and Your Business

Attractive young woman drawing a picture portrait sketch of herselfIt’s time to choose.

By Ed Mendlowitz
Tax Season Opportunity Guide

Is your practice satisfying?

MORE ON TAX SEASON: How to Think Like an Entrepreneur | Imagine Starting With a Clean Slate | Two Questions to Ask Yourself – Before Clients or Staff Do | 40 Other Services Your Tax Clients Should Know About | Eliminate Tax Season Excuses | 16 Qualities of a Good Tax Season Client | 5 Ways Thorough Beats Sloppy In Tax Season | When ‘Quick and Easy’ Tax Season Research Isn’t | Consistency Simplifies Tax Season

Do you like it the way it is, or do you want it to develop and grow? Some people like the way things are and don’t care about change.
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How to Think Like an Entrepreneur

Young black woman sitting in front of laptop looking thoughtfulAsk yourself these questions.

By Ed Mendlowitz
Tax Season Opportunity Guide

Accountants and tax practitioners are entrepreneurs. This means their practice needs to be run as a business with sound business decisions being made.

MORE ON TAX SEASON: Imagine Starting With a Clean Slate | Know Your Value | 41 Checkpoints for Business Tax Returns | 40 Other Services Your Tax Clients Should Know About | Top 12 Tax Return Preparation Errors

These decisions need to be made in the context of

  • growing the business,
  • adding processes and controls and
  • making greater profit

1. Do you consider yourself an entrepreneur? READ MORE →

Imagine Starting With a Clean Slate

Clean slate with three pieces of colored chalkAre you there yet?

By Ed Mendlowitz
Tax Season Opportunity Guide

We all get caught up with what we do. Sometimes so much that we lose sight of what we are doing and the purpose.

MORE ON TAX SEASON: Know Your Value | Beware the Opportunity Graveyard | 21 Reasons Why Tax Clients Switch Firms | Top 12 Tax Return Preparation Errors | 8 Ways to Delight Tax Season Clients | Small Tax Season Leaks Can Cause Great Damage | 5 Personal Touches for Tax Season | How to Get Paid Faster This Tax Season

Also, work happens. Many of us start out with lofty plans that go astray as the practice develops. Many things cause it – clients we get, availability or lack of availability of the right staff, how we choose to learn or not learn new things, and even where we locate.
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Know Your Value

Handshake3 questions to ask.

By Ed Mendlowitz
Tax Season Opportunity Guide

Know your value to your clients. Better, understand your business and what you really do and what you add to the client’s life.

MORE ON TAX SEASON: Beware the Opportunity Graveyard | Two Questions to Ask Yourself – Before Clients or Staff Do | 41 Checkpoints for Business Tax Returns | Recognize Your Tax Season Resources | 40 Other Services Your Tax Clients Should Know About | Eliminate Tax Season Excuses

I had a group of gastroenterologists as clients who were going to get into a business of inserting a gastric bubble into people’s stomachs. There were a number of issues to this.
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Beware the Opportunity Graveyard

"Opportunity just ahead" road sign in desertHelp your clients, help yourself.

By Ed Mendlowitz
Tax Season Opportunity Guide

Many opportunities only come along once. The way to be successful is to not let them pass by without acting on them or taking advantage of them.

MORE ON TAX SEASON FOR PRO MEMBERS: Two Questions to Ask Yourself – Before Clients or Staff Do | 41 Checkpoints for Business Tax Returns | 21 Reasons Why Tax Clients Switch Firms | Small Tax Season Leaks Can Cause Great Damage | 5 Personal Touches for Tax Season | How to Get Paid Faster This Tax Season

Spotting opportunities is quite easy if you are looking for them – and extremely difficult if you don’t have a clue of client needs or wants.
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