How to stop letting dilatory clients bully you

Each week Mark publishes a fresh strategic advice blog post for the thousands of accountants, bookkeepers and tax advisers who have subscribed via his website. He also copies the email here as a Linkedin article and adds 5 further practical tips and the most recent item from his Accounting Fun blog.

Intro

There is generally just one issue where I am less than sympathetic with accountants. It's odd really because in every other respect I am entirely supportive, positive and encouraging.

I have addressed the issue in this week's blog post - which is summarised below. Also you will find:

• 3 practical tips I have shared with clients I am mentoring
• A practical Linkedin tip
• A tip from my latest talk on delivering more value to clients
• More about what you can get from the Tax Advice Network
• The most recent item from my Accounting Fun blog: Do accountants laugh?

As ever, you are welcome to get in touch if anything here sparks a need to chat or you want to clarify anything I have said.

Regards

Mark

3 practical tips I shared recently in 1-2-1 sessions

If any of these resonate maybe now would be the time for us to have a chat to see if I could help you directly:

1. Try an MLD business review: Once the January rush is out of the way, let's consider: What will you do More of? What will you do Less of? and What will you do Differently?
2. Rank your clients: You need to focus your attention on the right clients, not simply those that take the most time. Try this ranking system: A = Awesome across the board, B = Becoming awesome, C = Compliant and cost effective to retain, D = Drain on resources (need to be dumped), E = Embarrassing to still have on board (should be the first to go)
3. Remember the profit equation: Leads x conversion rate = clients. Clients x transaction spend x frequency = Revenue. Revenue - costs = profit. To improve profits you need to tweak one or more of the other elements in the equation.

Maybe you would benefit from a mentor or a quasi-NED for your practice.

If you'd like to have a chat without any obligation, do get in touch. Whether to help you move your practice forwards, to use me as a confidential support or to help you resolve any practice or strategic marketing related challenge you are facing.

Book a call >>>

Linkedin tip

If you want to see more of my posts (or of anyone else's posts) on Linkedin, simply click the 'notify' bell at the top right of my profile, just beneath the banner.

I'm running an online Linkedin masterclass exclusively for accountants next week.

More info re Linkedin masterclass for accountants >>>

Tip from my talk: How to explain your value so as to win more of the business you want

Do you really know and understand what impact your clients feel that you deliver? What difference do they perceive you make? Do you know or are you just speculating and hoping? What would happen if you asked some key clients to answer using their own words?

How to stop letting dilatory clients bully you

Every February I hear tales of woe from accountants who have worked late into the night during the days and weeks leading up to the tax return filing deadline.

Many are resigned to this and some even seem to enjoy the adrenaline rush. Most though resent the late hours and the pressure they feel as the deadline approaches.

When I ask why they work such crazy hours many accountants tell me they have no choice. Apparently their clients routinely ignore requests to submit tax return data earlier in the year. And the accountant doesn’t want to let their clients down.

This is admirable but it doesn’t change the facts. I’m sorry to be the one to reveal this to you. You only have yourself to blame if you have loads of client tax returns to complete and file in the days and weeks leading up to the deadline.

In mid-December I posted a poll on Linkedin asking accountants: "How many client tax returns will you be completing and filing between now and 31 January?" With almost 150 responses I was shocked by, yet again, how many accountants had a majority of theirs outstanding. So I dug further into the responses....

In the remainder of this blog post you will find:

• An analysis of the survey responses which also reveal a majority had either submitted all or substantially all of their client tax returns by mid-December;
• What this means for you if January is still a struggle for you;
• Why you should stop letting clients bully you in this regard;
• What you could change to ensure your clients change what they do too.

Read the full blog post >>>

Tax tips for general practitioner accountants

You can get 3 timely, practical and commercial tax tips every Thursday from the Tax Advice Network. These are written, especially for general practitioner accountants, by Rebecca Cave. And each tip includes links to the source material should you want more details. You can sign up FOC now.

Weekly tax tips >>>

When you need tax support for your clients

It costs nothing to use FindATaxAdviser online. The advisers you find here are all members of the Tax Advice Network, which I Chair.

Easy to use whether you have a one-off situation or you want someone to refer your heavyweight tax issues on a regular basis.

2021 saw a 45% increase in traffic to the Tax Advice Network website. It is bigger than ever, with specialist advisers covering an extensive range of over 100 tax issues.

FindATaxAdviser.online

Fun time - Do Accountants laugh?

"Do accountants laugh?" was a question posed online by top Comedy Magician, John Archer (runner up in BGT 2019) ahead of performing at a gig for accountants. Among the replies he received were:

• It depends on their clients
• Only when they lose their balance
• When it's at someones else's expense
• Yes, when their balance sheet balances
• As soon as you pay their bill

Copied with permission from AccountingFun.co.uk

Let's have a chat...

Let's have a chat if any of the more serious topics above resonated with you. I love supporting and encouraging sole practitioner accountants who want to secure more referrals, reach and results.

You can take your chances here now: 07769 692890

or book a call at a time that suits us both: www.calendly.com/bookmarklee

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Mark Lee FCA  provides strategic insights, advice, talks and mentoring for accountants and tax advisers who want to improve their reach, referrals and results. He is also Chairman of the  Tax Advice Network, the UK’s largest network of independent tax advisers.

Earlier in his career he was a partner in two top firms. He has a number of voluntary roles and is a long time member of The Magic Circle.

BookMarkLee.co.uk

You can subscribe for his weekly email on Linkedin or via this link >>>