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Building A Tax Practice
General Approach and Mindset of Starting a Practice
Introduction to Building a Tax Practice - Outline of course curriculum (4:41)
Administration - Course Payments, Refund policy, certificates of completion (6:25)
Approaches to building a succesful tax business (9:06)
The difference between building a business with value and a job (6:57)
The 2 books as a foundation for building a business (4:40)
How building a business will benefit you when it's time to sell your practice (4:55)
Finding the Right Clients and What You Need to Consider
Finding the right clients - effect on your practice and how to build a business (4:22)
The 80/20 rule applies to clients - do not accept everyone (7:06)
I haven't filed my personal returns for 5 years - can you help (6:50)
I haven't filed my corporate returns for 5 years - can you help (4:01)
The most effective way to grow your business (9:39)
Build your client profile and apply it to all new clients (8:06)
Business Networking is the Main Tool to Build Business
The benefits of business networking and why you should focus on it (6:27)
Business networking groups you can join for maximum benefits (8:55)
What to expect when networking and how to approach it (8:29)
Solidifying relationship with clients (3:48)
Leverage Your Time by Building Multiplier Relationships
Add a multiplier effect to your business building - my personal example of a referral machine (8:33)
How to approach doing business with the legal profession (6:56)
Focus on tax lawyers for high billing work and invaluable expertise (6:22)
Working with investment advisors, especially for new personal tax business (6:58)
Higher fee work with a focus on real estate and business brokers (5:19)
Relationships with bookkeepers - beware of the double edged sword (5:41)
Focus on building a motivated sales team rather than social media (4:06)
Pricing Strategies and Considerations
Introduction to Pricing Strategies & the importance to your success as a practitioner (3:07)
Pricing your personal tax services and warnings on what not to do (9:14)
Difference T1 pricing methods and what I recommend (9:10)
Fixed fee pricing plus additional work (9:39)
How to determine your base price (11:58)
Pricing your corporate tax services - Difference between corp and T2 (5:05)
Avoiding hourly charges for corporate work and standard pricing (3:44)
Making sure you get paid for all your work - separating services (6:52)
Examples of pricing breakdown and psychology (8:04)
Determining price for bookkeeping and corporate work (15:25)
The Most Important and Biggest Asset - Your Staff
Introduction and guide to finding and hiring the right employees (3:01)
Getting help with your practice - philosophical approach (6:46)
The benefits of staff no matter what the size of your firm (7:33)
You should focus your time on building a business (6:02)
Some ideas on where to look and what to do (9:19)
Discover a creative hiring process - Save hours of time - Hire the Best (8:09)
Thinking outside the box - The benefits of this hiring system (2:59)
Outline and discussion of the step by step process of this system (5:17)
My revised and spiced up 5 step process (10:14)
How to figure out the strengths of candidates before you hire them (9:44)
Some useful tips and advice on applying this system (7:34)
Use Your Website as a Tool rather than an Information Page
Trying a different approach to your website and standing out from the rest (3:33)
Trying a different approach to your website and standing out from the rest (2:05)
What your website should do for you and your firm (7:55)
Using wix to develop and create your own website (9:33)
Examples of ineffective websites with CCH Site Builder (6:35)
The Framework of your website and what it will do (12:32)
The Home Page and Services Page (11:57)
The Expertise Page & Growth Page (6:25)
What book should you choose and the first appointment (9:02)
Using your website as an important tool for client communication (11:11)
Don't make the About Us page about you, make it about clients (7:46)
Conclusion
Conclusion and next steps in your journey on building a tax practice (2:48)
Build your client profile and apply it to all new clients
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