The WhIP Journal
January 2004 Power Your Practice – THE WhIP JOURNAL [What Helps In Practice]
This is an Opt-In No-Fee monthly ezine/newsletter from Debra Dowdell. You are receiving this because you have subscribed to it. As always you may easily unsubscribe or update your email address, using the link at the bottom.
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In This Issue:
Tax Season - Survive or Thrive?
That is Such A Good Thought…
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TAX SEASON - Survive or THRIVE???
‘Tax Season’ will soon be upon us. It may already loom large in your mind and in your firm. There may already be levels of anxiety, depression and dread about the approaching onslaught.
Many professionals approach Tax Season with an attitude of ‘survival’. I would like to suggest to you that ANY firm can and should take steps to not only survive Tax Season well, but perhaps to even thrive!!
“Surviving is important, Thriving is elegant!” Maya Angelou
Implementing the following 16 strategies will ensure your thriving success:
- Look to find ways to reduce delays. Ask staff if they have any suggestions to enhance the Tax Return Preparation process. Delays add time, without adding value.
- Are partners preparing simple T1’s? Is this a wise use of time and abilities? Even in a very small firm, perhaps you should consider additional, temporary staff. There is a misconception that it will only add to your workload if you have to train someone and integrate them into the firm. If you are training and integrating in late March or April, this may be somewhat true. However, how about making arrangements in January or February? There are many people who are adequately trained to prepare tax returns (at least the straight forward returns.). Most people who have used ANY electronic tax preparation software can easily pick up a tax software program they haven’t used yet. They are willing and able to commit to short term or part time work through the busy season. Many firms even end up using the same people year after year. Also your staff may thank you because the stress-load won’t be as great to carry and your clients will find you more accessible.
- Eliminate bottlenecks! Wherever they are happening. Check the partners desks, check with staff, find out where it the process slows down or goes wrong. Then change it! Keep changing it until it works better.
- Internal staff meetings still need to continue, but make sure it is time well spent. Have a time limit, with a planned agenda and stick to it. Make sure someone is the leader. Use this time to plan work loads wisely and to encourage one another.
- Client meetings should still continue and may in fact increase in number. Let the client know there is a time limit anticipated to the meeting. Whenever possible try to plan an agenda. Lead the meeting, so the client will know when it’s time to go. Be cordial and thorough, but avoid idle chitchat.
- Manage procrastination. There are 3 three main reasons why people procrastinate. 1) They don’t know how to perform or complete a particular task assigned or required. 2) They don’t like the task assigned or required. 3) They are indecisive about how to approach the task. Recognize your own tendencies with procrastination and make this an issue for all staff to address within the firm. Often where there are delays or bottlenecks you may find procrastination. Manage ways around it. Find solutions or people to solve problem.
- Choose to be positive. Keep expectations low. Being miserable with this yearly aspect of your professional life isn’t really an ideal situation. It’s not good for business and not good for the people who have to be around the miserable one (other staff and/or family members). Instead choose to be positive and don’t set yourself up for defeat by making unreasonable goals.
- What are your tolerations? The things we tolerate in life will drain us of vital energy needed at this stressful time. Look at the things you tolerate and decide if there are some that can be eliminated. If not, sometimes tolerating things by choice gives you a sense of authority over it and lessens the stress of it.
- Set the tone with music. Music is good for the soul and can have a relaxing or uplifting effect. Let people enjoy music during this stressful time of year and you may decide to keep it all year round.
- Does your firm promote Flex Time? If not yet, this would be a good time of year to perhaps look at this important element of staff retention. The MOST important issue in attracting and retaining staff is providing a Work-Life Balance. Flex Time is very attractive to most professionals. You may be very surprised to see productivity soar when professionals are given the opportunity to balance their own work and life. Deadlines are met and life is sweeter and richer. Do you really want to keep staff just because you have them under your thumb and they have no choice but to show up from 9-5? Professionals who can’t thrive under Flex Time may not be worth having any way.
- Provide healthy snacks and food. Many tax professional are so taxed themselves they lean towards caffeine and/or sugar snacks as a way of coping and getting some energy to keep going. A little coffee and an occasional sugar snack won’t hurt, but you’ll stay healthier and feel much better with snacks like fruit, vegetables, nuts, cheese, popcorn, etc. and lots of water.
- Don’t give up exercising to get in a few extra tax returns. Your exercise routine is more important than ever when you’re highly stressed. In fact, encourage staff to take frequent walking or stretching breaks. Yoga at lunch or an afternoon walk may do wonders for the body, mind and spirit.
- Don’t lose your sense of humour in that stack of returns to compile. Consider some fun, zany antics like having staff wear their silliest slippers when working evenings and the office doors are locked. Bring in a bunch of helium-filled balloons and tie them to staff work stations or let them loose to float up to the ceiling. Find a website that will deliver daily clean, fun jokes to give staff a chuckle through the day. Be creative and enjoy.
- It shouldn’t be necessary to re-acquaint yourself to the family on May 1st. Make sure you plan to spend quality time with the loved ones in your life. A date with a spouse, games or movie night with the kids, a dinner with a friend can do wonders for morale.
- There should be perks to offset the stress and extra work. Perks may be even more important than financial considerations. Are there dinners brought in for staff working past 6:00? Are there mandatory nights off? Are there Friday pick-me-up lunches provided? How about Saturday or Monday morning continental breakfasts? There are many ways to make staff feel appreciated and happy to be part of the hardworking team.
- Celebrate! Don’t wait until April 30th at midnight. Celebrate successes or milestones as they happen, before the stresses take away the joy or pride.
Make this Tax Season the one to remember!
The one that begins a whole new trend in your firm.
The one where everyone not only survived, but also thrived in!
THAT IS SUCH A GOOD THOUGHT”,
Thoughts worth repeating, reading, thinking and embracing.
“A business that makes nothing but money is a poor kind of business.”
– Henry Ford
I hope you’ve found value in this month’s copy of The WhIP JOURNAL.
My best regards this tax season,
Debra Dowdell
Power Your Practice
For more information, or to share your firm’s story please contact:
This is an Opt-in No-Fee monthly ezine/newsletter from Debra Dowdell. You are receiving this because you have subscribed to it. You may unsubscribe or change your information at any time at Details@PowerYourPractice.com. Your information will never be given away, sold, or rented. Ever. Thank you.
Power Your Practice© 2006