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Did Dante have it all wrong?

30th Jan 2015
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So, it’s the last afternoon of the last day of hell – how was January for you and what would you have done to prevent it?

I always thought that Dante had got his vision of hell a bit wrong, I think it’s a bit more like attempting to get through Ikea on a sale day; but for many Accountants it’s December and then January’s SATR season.

Before it fades away into a collective bad dream, what would you like to happen next year?

Of course, you may be one of those who already have it all controlled (there are many), or one of those who enjoy being frantic in the new year (there must be some).

Jumping ahead.

If you want something different it’s time to do something different – right now!

Thinking about how well 2016 went what made the difference to your practice is a good thing to do, right now. Yes, that’s deliberate switch in time lines as working backwards from success is a lot more productive than being incremental. Take a few minutes before you and the team relax completely.

Imagine it’s Feb 1st 2016 and the silly season went well; how do you define well and what were the changes you put in place during 2015 to get there?

  • What changes (big headlines)?
  • By when (milestones)?
  • Who implemented them (involve the whole team)?
  • How did you track them, so you knew they would happen (project plan)?

What might help?

I’d love to read a hundred other ideas at the end of this article, but for here’s some I for starters:

  • A clear (and followed) client chasing process that starts in the summer. The best ones are multi-media and have several chase points for those that don’t reply. Emails in August, letter in September, phone calls in October – or a variant.
  • Cloud Accounting: Many find it reduces the problem of late data, what would happen if you had more cloud clients?
  • A surcharge for any sending in late data (old, boring, many don’t like it – but it works for some)
  • Planned approach. Target a percentage of returns to be done by August, September, October and November (along with the clients you’ll get to give you data).
  • Specific clients: Many firms have specific clients they know always send poor quality data, way too late. Maybe all you need to do is focus on them. That could vary from a supportive (but directive) client meeting to managing them out of your client base.
  • Non cash incentives: Additional value given to early clients. That might be extra tax planning, management account advice; free workshops (possibly not even run by you! What strategic partnerships have you got in place to develop your referrals and increase fee income, how could these people help your January problem?).
  • Cash incentive: No fee increase – for those that get their complete data in by xx/xx
  • Cash incentive: Offering a “discount” for those that get their data in by specified dates. You can target this if you’re afraid of giving away too much!

I know that many people have tried and succeeded with these, other have tried and failed - what's your experience and what works for you?

How much is it worth to dispose of hell on earth?

Written by Jon Baker, of venture-Now. The 5-50 Coach, who helps professionals to grow their practice from 5 to 50 employees, profitably, sustainably, while they still have a life and Co-Author of The Go-To Expert

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