Taking stock of the year to date

Welcome back from the Thanksgiving break! I hope that you had a great time with family, and are charged up and ready to hit the ground running with your tax practice between now and the Christmas break.

Now that the final month of the year is upon us, it’s time to take stock of what your tax practice has accomplished for the year. Here are some things to consider:

  • Are you on track to meet your revenue target for the year?
  • Do you have the number of year-end tax planning appointments you want?
  • Are you seeing the slight increase in tax resolution cases that you should get in November and December?
  • Do you have your tax season marketing plan outlined and already placed into action?

Mid-November through mid-December should yield a slight bump in your tax resolution case work if you actively marketing for collections representation clients. Why? The October 15 extension deadline typically results in a small wave of new tax liability accruals, and the Top of Mind Awareness that comes with just having filed that tax return increases the number of individuals likely to hire representation.

If your December appointment calendar for tax planning services isn’t as full as you’d like, there is still time to get some more of those clients in the door. The time between Nov. 26th and Dec. 20th or so is still a perfectly valid time to be doing marketing and conducting new business. The key is to get your mailers out to your clients and prospects THIS WEEK.

If you haven’t had the year that you expected, then it’s time to start asking why. Now is the time of year to analyze what you did and did not do during the past year, and put a plan together to correct that situation. The vast majority of tax practitioners do not hit their revenue goals for the year for one simple reason: They failed to implement a long-term marketing and prospect follow up program.

If you haven’t taken the time to put together your 2013 marketing plan, you’ve still got plenty of time to do so. There is nothing that I would urge you to do more than this. This sort of time spent working on your practice, rather than in your practice, is the most important piece of achieving success in your tax practice.