There are a few Tax Resolution Academy® members whose tax firms are grossing well into the seven figures annually.
The majority of members are earning comfortable, upper middle class incomes.
And there are some long-time members that can still barely afford to pay their rent each month.
Oops. I’m not supposed to mention that last part. It’s bad for my “brand” to tell you the truth. Oh well, cats outta’ the bag now.
All these tax professionals have similar training. They all have access to the same training videos, webinars, and marketing tools inside the Academy. They all get the same answers from me about how to marketing their services.
So why the disparity in revenues?
Is it gender inequality? Institutionalized racism? Religious intolerance? Privileged by birth? Topics I’m so obviously qualified to address, right? 🙂
Honestly, I just don’t think that such issues explain the revenue spectrum I’ve seen with the tax professionals I’ve worked with over the years. Why?
Because all the tax pros I work with are people that made a choice to start their own business.
No matter what your race, gender, orientation, religion, national origin, socio-economic status at birth, or anything else, things change dramatically once you choose to be your own boss.
Once you own the company and make the decisions, there is nobody in HR to blame for not getting that promotion. Everything becomes YOUR responsibility. And thus, the success or failure of your business depends entirely on the choices you make. How you choose to respond to business challenges.
Did your local government shut down in-person business operations due to the pandemic? OK, how did you choose to respond? Are you a woman trying to sell your accounting services into a male-dominated target market that has a “good ol’ boys club” mentality? OK, what choices will you make to succeed in that environment? Are you a recent immigrant to the United States trying to build your tax practice but concerned about community racism that exists where you live? OK, how are you going to choose to market yourself to address this challenge?
I was raised as poor “trailer trash” in the boonies of Wyoming. I’ve been through Chapter 7 bankruptcy and homelessness. Two divorces. I’ve made a lot of bad choices in my life. Quite frankly, I was never expected to make much of myself.
But I’ve also made some good decisions in life, and those good decisions have made all the difference. One of those decisions was that I was going to become successful in tax resolution. I made that decision sometime around July 2008, after being in the tax industry for only 6 months. I made the decision that this was going to be my career (finally…), and I chose to take the necessary steps to become successful in it.
I have a little exercise for you today. Open up your favorite app to type in, or grab a piece of processed lumber and an ink stick and take just 5-10 minutes to ask yourself some important questions:
- What choices have I made that got me to where I am now?
- What choices have I NOT made, and instead accepted the default event?
- What choices am I facing RIGHT NOW that have a direct impact on the future of my business?
- What choices SHOULD I be contemplating right now in order to secure a better financial future?
I encourage you to do this rapid-fire. It’s a lightning round. Only spend a minute or two on each question, and just do a brain dump of whatever comes to mind.
That list you just wrote should give you some amazing things to think about. We’ll take the next step on this journey tomorrow.
Here’s to embracing the power of choice,
P.S. If “do more tax resolution work” happens to be on the list of choices you’re contemplating for 2021, then take a list to Episode #16 of The Profitable Accountant Podcast.