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Great benefit for 2020 Premium Members with the iShade 2020 Gateway

April 26th, 2011

One of the ways you benefit from your membership in 2020 is the ability to tap into our global network of firms. As such, we are pleased to announce a new partnership between the 2020 Groups and iShade.com – The Accounting Profession Online.

iShade is the new and exciting online “professional ecosystem” specifically designed for accountants around the world. Currently concluding the beta portion of their development cycle, iShade will launch to the public on May 24th. As part of that launch press event in New York City, Jeff Pawlow, CEO of iShade will also be announcing the details of the portal’s strategic relationship with 2020!

2020 is the exclusive association partner for iShade and will receive special branding and recognition on the site through the 2020 Gateway – a dynamic online directory of all 2020 members around the world. In addition to being able to easily identify the expertise you are looking for within the 2020 firms outside of your specific geographical area, other non-2020 iShade users will also be able to search the 2020 Gateway for help and assistance with their client’s unique multi-state and international needs.

Since the majority of small and medium sized accounting firms do NOT belong to an international association, the 2020 Group essentially becomes their virtual association via the 2020 Gateway.

Imagine the benefit of having the hundreds of firms not associated with a network being able to easily identify your firm when they need help in your particular expertise areas, whether they be geographical (e.g. can we engage you to perform an inventory on our behalf) or technical (e.g. can we engage you to help us with a complex tax issue related to your firm’s locale). We believe that our members will enjoy a significant opportunity for additional business as a result of 2020 being prominently featured within the iShade environment. Additionally, we have created online communities for each of the 2020 groups to easily collaborate with each other within the site as well. We are pleased to announce that all of this is being provided at no cost to our members!

To add your firm to the 2020 Gateway directory, I am asking that you complete the 1 page form that can be found at http://beta.ishade.com/member/signup/twetwe by close of business on Friday, April 30th, 2011. Please be sure to be as complete as possible as the quality of your firm’s search results will be predicated on the quality of information entered into the form.

Thank you in advance for doing your part to make the 2020 Gateway launch an overwhelming success! I look forward to seeing you online.

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Get Marketing With the 2010 Tax Organizer

January 5th, 2011

This 4 page tax organizer is a great way to attract new clients. Here are some ideas for your marketing efforts:

  • Send to new homeowners
  • Insert the organizer into the local newspaper
  • Ask your current clients to pass it onto a friend

Of course you can use the tax organizer that is generated by your tax software, but I always find them extremely cumbersome, and they obviously can’t be used for prospective clients.

Premium members can download the 2010 Organizer from the premium resource section. You’ll need to insert your logo and contact details before you send it to the printers. We use www.wigtonline.com for our printing needs (much better quality than vistaprint). Regular members you can update the 2009 organizer found in the regular resource section. Premium membership is $35 per month. Find out more information about premium membership.

To get the new homeowners in your county contact Barry Weiner (barry@homeown.org) at www.homeown.org. 2020 members will get a special rate.

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The NEW New Business Kit is Here!

December 20th, 2010
The New Business KitThe New Business Kit (formerly The Successful Business Kit) is a turn-key marketing tool to promote your firm. It’s promoted as a comprehensive guide to the financial, tax and accounting considerations of starting a new business. It’s the perfect giveaway to current clients and referral sources as well as a great call-to-action for prospective clients.
 
The cost of publishing has decreased dramatically, allowing you to publish your very own New Business Kit for less than $4 per copy. On-demand sites such as www.createspace.com have no set minimum, so you can order 10, 50 or 100 of your very own book.

Every marketing piece must have a call to action and this $4 professionally published book is perfect.

Members: $150
Non-Members: $200

When you buy the NBK you receive the rights to reproduce the New Business Kit, the data files and a step-by-step publishing guide to customize, upload and publish your own book. You will need particular editing software (such as Adobe Illustrator and Adobe Acrobat) or access to a graphic designer. Alternatively you can utilize our customization services. 2020 Customization services include:

  • Internal customization – CA only
  • Cover Customization – All States
  • Publishing Customization via www.creatspace.com – All States

Each service is $100 for members and $150 for non-members (per service).
Download Order Form

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Pre-Tax Season Marketing

November 13th, 2010

Now is the perfect time to be marketing for new clients! In fact we’ve just started our own New Homeowners Marketing Campaign – which year on year is our most successful client acquisition activity.

This year we had 964 new homeowners in our 10 mile radius, and right now they’re receiving the first letter of the homeowners series. The first letter is a simple ‘welcome to the neighborhood‘ which will be followed by the ‘free tax planning‘ letter in late November/ early December. Premium members can access two versions of each letter in the Premium Resources. The Tax Organizer and marketing post cards are still to come. Forgot your password? Click here.

Here are a couple of tips to help you get the most out of your New Homeowners Marketing Campaign:

  1. Think about your ‘call to action’ – what is going to make people pick up the phone and call YOU? For example tax planning, a profit improvement consultation or the New Business Kit.
  2. Make sure you have a screening script to weed out low-end, price sensitive prospects (Member’s Resource**). Train your team appropriately.
  3. Be ready to book appointments. Dedicate a particular time and day for prospective client interviews. Maybe even offer a drop-in tax planning center on Saturdays or the evenings.
  4. Be consistent – follow the program to the end. The end is the final postcard on April 1.

A complaint I have heard is that new homeowners are often one-time clients. And yes that can be true if you let it. Have your client selection criteria ready to make sure new clients fit with your firm profile. We pick up a handful of great business clients each year as well a lot of really good individual clients who are delighted when we talk to them about wealth management.

We use www.homeown.org and 2020 members will get a special rate. Contact Barry Weiner (barry@homeown.org) to find out how many new homeowners there are in your neighborhood.

Please give me a call if there’s anything we can help you with. We love to talk!

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What do Your Clients Really Think?

September 5th, 2010

When was the last time you asked how satisfied your client were with the service you provided them? We fall into the trap that because clients pay we assume they are happy with our services. This is a dangerous trap that all firms must avoid. A better indication of satisfaction is the number of referrals your firm is receiving from current clients.

The best way to uncover what your clients really think is to survey them. There are 2020 member firms who undertake a satisfaction review after every engagement. This review comes in a variety of firms. For smaller engagements a survey is sent to them by email, for larger engagements, someone not on the work team calls the client and asks them a series of questions to make sure the firm met their client’s expectations.

Some of our members have asked us to survey their clients for them. We contact the client as an independent 3rd party and garner a great deal of insight into how firms can better serve their clients. Email us if you would like more information on 2020 Client Satisfaction Surveys.

WARNING: If you ask your clients for their feedback you must be ready to act on it!

Moving forward make it a policy to survey clients once a year or after every engagement. You can use web based surveys from providers such as www.surveymonkey.com or www.constantcontact.com.

Each method (Web, phone, or 3rd party) will have different response rates, so don’t be alarmed if the first time you do an internet survey you get a low response. It will build over time.

If you use internet surveys, make entering their contact details optional as this may help them be more honest. Keep it to 10 minutes and let them know that the survey will take no more than 10 minutes. And finally reward anyone who responds (and identifies themselves) with a small gift such as an iTunes/ Starbucks gift card.

Visit the Resource Center for the survey questions.

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Posted in Client Management, Management, Marketing, Member Resources

Why do Clients Complain? Reason 4 – Attitude

August 30th, 2010

Clients have a right to expect that the people who work in your firm have a positive, enthusiastic, “can do” attitude. If you have any member of staff, or a partner for that matter, who doesn’t display this kind of attitude, it can be disastrous in terms of client relations. Overwork, lack of training and a remuneration scheme that is perceived as inadequate or unfair can all contribute to poor attitudes among your staff.

Discord among the partners; poor management systems and/or a lack of leadership are the most common conditions that de-motivate members of the team.  And if the team members aren’t motivated, it will impact your clients and their behavior.

If you think there might be an attitude problem in your office, a quick activity you can undertake is to survey your staff anonymously using www.surveymonkey.com.  Here are a couple of sample questions:

  1. Rate on a scale of 1-5, how you think the firm is doing
  2. Rate on a scale of 1-5, your level of job satisfaction
  3. What have we done well this year? (Open ended)
  4. What have we NOT done well this year? (Open ended)

Don’t ask for names, and don’t be offended by their responses, and remember that when you ask for input you need to act on that input. Alternatively you ask us to conduct the survey for you and compile a report of recommendations. Email us for more information

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Posted in Client Management, Management, Marketing, Member Resources, People

Why do Clients Complain? Reason 3 – Perceived Indifference

August 20th, 2010

Accountants often get totally focused on the task at hand, and neglect to communicate sufficiently with the client along the way. Alternatively, the main communication the client receives is ‘super-technical’ and over their heads. Either way, the perception the client has is one of indifference. Obviously, we’re not actually indifferent to the client’s needs. However if the client perceives that that is what is occurring, the difference is academic, remember perception is reality!

We believe that the most common reason for losing a client is perceived indifference.  Think about the last time you took over a client from another practitioner and remind yourself about what the client said about that person. Remarks like, “they just didn’t seem to care” and “we felt like we were too small for them” are remarkably common.

Set up a system to communicate regularly with your clients. For Premium Members ($35/month) the client relationship letters in the Premium Resource Section are perfect for this ongoing communication. Set a goal. Add another 4 ‘touches’ to your communication plan. Who knows, you might even pick up some extra work. A new letter on Unique Selling Propositions has just been added to the collection. Send it out today! Not a premium member? Find out more.

For regular (free) members, even a thank you letter is a great way to start, and you can find them in the Resource Center.

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Why do Clients Complain? Reason 2 – It’s Genetic!

August 17th, 2010

There are some clients, we are convinced, who were born to complain. They may also be in a trade or profession where complaining and haggling are an accepted part of the business, and in fact it may be one of the attributes that make these clients successful. Some clients, for example, consider the rendering of a fee note not as a demand for payment but merely a routine opening of negotiations, such as one might expect if one were buying a carpet in a bazaar. Unless you enjoy dealing with these perpetual complainers, it’s best to see them on their way. A simple letter along the lines of:

“We work hard to maintain cordial and productive relationships with our clients. I note that you have complained about the last three invoices we have sent you and since we are shortly intending to increase our fees, this is a good time to suggest that you find another accountant to act for you. Be assured that we will do everything necessary to provide your new accountant with all the records he or she will need.”

The other thing to avoid is taking on complainer clients in the first place. To help identify a born complainer ask these 5 questions before you accept a new appointment:

* Why are you changing accountants?

* Were you satisfied with the services of your prior accountant?

* Did he/she complete your work on a timely basis?

* Do you have any specific comments about this individual?

* Do you mind if we call your previous accountant?

Use the Client Disposal Checklist to identify clients that might have to be let go. Have the entire firm complete the checklist for any clients they think need to be put on the Chopping Block.

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Why do Clients Complain? Reason 1 – The Expectation Gap

August 6th, 2010

In a perfect world, clients would be happy all the time. However, we don’t live in a perfect world. Over the next couple of weeks, we’ll share our findings with you as to why clients complain and what you can do to ‘head-off complaints at the pass.’

Reason 1 – The Expectation Gap

You think you know what the client needs and you deliver that service on time for a reasonable fee. Problems arise if the client doesn’t understand what they need, or if they don’t get what THEY want. So before you start any engagement it makes sense to confirm the order. Think about online shopping (or any other buying experience), you’re always asked to confirm the order before clicking the BUY button.

Furthermore, since clients tend not to read letters of engagement (even though they routinely sign them), it’s important to highlight what you’re going to do for them. This might be face-to-face or over the phone, and I have seen firms explain the scope of the engagement on a 1-page appendix to the engagement letter and have clients sign it.

Work hard to manage the expectation gap in the early stage of the engagement, otherwise you may end up solving a problem, which may well be critical, but one to which the client attaches little significance or value.

Also think about using a Client Bill of Rights and Responsibilities to outline what they can expect from you and what you expect from them.

Forgotten your password for the 2020 Members Only Resource Center? Click here

Not a member? Regular membership is free. Premium membership is $35 per month. Find out more

Got a question for 2020? Email info@2020groupusa.com and we’ll answer it in our next Flash.

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Without A Vision There’s no Place To Go

July 1st, 2010

Where is your firm headed? This 4th of July Weekend many of you will head out of town, off on vacation – most of you with a final destination in mind. If you’re driving, Google Maps or your GPS device will give you turn by turn directions to get you there in an efficient manner.

Wouldn’t it be great to have the same for your firm, giving you turn by turn directions to your destination?

There are a number of applications out there that do this. The challenge however, is that very few firms have that final destination in mind. What’s yours? Share with 2020 your vision. Once you know the destination, you can map out the route and identify all the milestones along the way.

Creating a destination or vision is very difficult. We created the 2020 Strategic Evaluation and the Partner Questionnaires in the Resource Center (Members Only) to get you thinking about it. Share them with your partners, as the long weekend is a great time to be thinking about this strategic issue.

Forgotten your password for the 2020 Members Only Resource Center? Click here

Not a member? Join today

Got a question for 2020?  Email info@2020groupusa.com and we’ll answer it in our next Flash.

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