|
TaxCoach Briefs: July 22, 2010
Volume 5, Number 28
****Attention All-Stars and Press Club members ****: The playback for last Tuesday's monthly elite group webinar, on summer marketing and year-round revenue, is now available on the All-Stars page within TaxCoach. The next webinar will be August 10, at 4pm Eastern — mark your calendar now, and watch for agenda details and connection instructions in The Scout. ===================================================== MARKETING LESSONS FROM GEORGE STEINBRENNER Keith and I are both getting ready to leave for summer vacations this week. I'm taking my kids for a city vacation in Chicago; while he's taking his family for a beach vacation in North Carolina. If you've been around Tax "Coach" for any time at all, you've noticed a baseball theme. The whistle in our logo. The "All Stars," "Press Club," and "Hall of Fame" coaching and done-for-you marketing programs. Even our choice of entertainment for our upcoming Member Appreciation Event. Last week, I wrote about New York Yankees owner George Steinbrenner's death. If death can ever be called "well-timed," this one may be it. As we all know, the estate tax itself "died" this year. Under current law, it roars back on January 2011 with a $1 million tax-free "unified credit" and 55% top rate. Steinbrenner is estimated to have been worth $1.1 billion, which suggests that his estate will avoid $600 million in tax. That's certainly the sort of "news you can use" to promote your own value to prospects and clients. But Steinbrenner's death got me thinking about how he ran his team and what those lessons hold for those of us marketing our services. Baseball follows its own leisurely rhythm and pace. A player can strike out 7 out of 10 at-bats and still make the Hall of Fame. His team can lose 60 games in a season and still make the playoffs. (I know, you can do that in the NBA, too — but in baseball, the regular season actually matters.) This is in stark contrast to America's other national pastime, football, where quarterbacks take every snap and teams play every game as if the entire season is on the line. Steinbrenner earned his reputation by driving his baseball team like he was playing in the NFL. Every at-bat was supposed to be a home run. Every game was supposed to be a win. And while lots of people thought Steinbrenner was a jerk, even Red Sox fans have to admit it worked. He controlled the team for 37 years, and in that time won 11 pennants and 7 World Series titles. But Steinbrenner made headlines in the boardroom, too. He was the first owner to sell cable TV rights to his team's games, and his creation of the YES network helped make the Yankees the first billion-dollar sports franchise. (Hmmmm, does that sound like being the first accountant in town to sell premium-priced tax plans?) In the end, Steinbrenner gave his customers a product they they could feel good about buying. He gave his city and fans a team they could feel proud to support. He created a dynasty, and became the owner all other owners were compared against. When you sit down with a prospective client, do you accept that you can't win 'em all? Or do you decide which prospects really interest you first, then go after them determined to win their business? You work hard to give your clients a service they can feel good about buying. You use the lessons we offer to emphasize your value and the return your clients get on the fees they invest in you. But what are you doing to create a dynasty? What are you doing to be the tax professional all other tax professionals are compared against? I'm not suggesting you make a jerk of yourself. I'm not saying you should throw temper tantrums and fire your entire staff. (Ed and Keith are great bosses to work for, really — Catherine) I am suggesting you take a look at how George Steinbrenner demanded and created excellence. And ask yourself — if you have to compare yourself to a baseball team, wouldn't you rather be the Yankees than the 1962 Mets? ===================================================== MEMBER APPRECIATION UPDATE We've got nearly 60 of you registered for the Member Appreciation Event here in Cincinnati on September 30 and October 1. Not bad, considering the only promotion we've done has been five short blurbs here in the Briefs. We have just nine seats left for the Reds game Thursday night - we're taking over the "Davey Concepcion" Party Suite at Great American Ballpark, and looking for what might be a nail-biting pennant race — or the usual season-ending snoozer. (Seats are first-come, first-served, with priority going to Press Club and All-Star members, in that order.) Either way, we'll have a ball. Two full days masterminding with a national group of TaxCoach peers. No outside sales pitches. A true meeting of minds, with a room full of smart colleagues who are not your competitors. Free for TaxCoach members. Don't risk losing your seat. Click here to register now! ===================================================== Announcing the AICTC’s first ever Lunch-n-Learn Success Series: “Certified Tax Coach Solutions to Recruiting, Managing, and Retaining Talent” The future of your dream tax business is dependent on your success in attracting, hiring, managing, and retaining top talent. So, CTC members, join us for the most important workshop series you’ll ever experience. Each Thursday in the month of August, enjoy your lunch and join us at 2pm EST from the comfort of your own desk as we explore:
Bonus for new CTC members! If you enroll for the September Academy or online course by July 31, 2010, you can attend this exclusive members-only series at no charge! (If you're not a member, visit www.CertifiedTaxCoach.org to join!) ===================================================== We got the following comment from All-Stars member Doug Wamsley on this week's call-in: "A quick 'Thank You.' The Kool-Aid has begun to work. On Monday, I finished a large, problematic 2003 personal income tax return, which I'd initially planned to bill @ $1,800. But since continually reading "ED SAYS.... DON'T GIVE IT AWAY!!!" I reviewed all the research and work time, and I billed the client $3,200. He was delighted with my work, and not uncomfortable with my bill. I'm using the extra $1,400 to fund a trip to the Member Appreciation Days in Cincinnati in September." ===================================================== MEMBER CALL-IN WITH ED AND KEITH This week was another near-record attendance — pretty good for a sleepy, humid midsummer afternoon. Continuing the discussion on tax software, this week we polled attendees about what tax planning software you use — which, beyond TaxCoach, is for the most part just tax projection. The results are interesting. Over 74% on the call voted, so the other 26% could be either ignoring the question, or, actually not using any planning or projection software, since "none" was not its own option. Anyway, here's what we found. Multiple answers were allowed:
If you're looking for clarification on TaxCoach strategies or additional ways to profit from TaxCoach, join us for the next call, on Wednesday July 28, at 1pm Eastern. Enter a question or just listen in on the repartee. Check the "Contact Us" button within TaxCoach for registration instructions. While our elite members (All-Stars, Press Club, and Hall of Fame) can still schedule time directly with Ed as part of their coaching programs, we simply cannot answer marketing and tax-strategy questions via email or unscheduled calls. ===================================================== We can answer questions on using TaxCoach system features anytime. (Save marketing and tax strategy questions for Member Call-Ins.) For best response, email support@taxcoachsoftware.com. Regards, Ed LyonKeith VandeStadt http://www.taxcoachsoftware.com/ (513) 321-2820 Certified Tax
Coach™ |