A CPA Dream Team of New Year's Resolutions
Its that time of the year where everyone resolves to do something they have been meaning to do. The new year is a fresh start, a new attitude and what better reason exist besides those to shed a few pounds or make some changes in your business that will have a positive impact on you and your customers.
For the first time ever, however, there is a CPA firm excited about those kinds of things for their lives and their firm. That firm is our firm, the BaCo Group. In fact, my New Year’s Resolutions look like this:
- In February, my firm will start and complete 10 x more 2019 state and federal tax returns than we did for 2018.
- In March and April, we will complete the majority of our remaining business and individual 2019 income tax returns without extension and deliver quarterly estimates at that time.
- We will do that while working on 2020 tax returns and deliver up to date tax projections during the 2020 tax season.
- We are going to do it while working less than we did last year as we make improvements to our workflow that will reduce overtime going forward.
- To enter an international competition that kicks off on February 28, 2020.
- I am going to lose the weight I put on after I hurt my back last summer.
The squeaky wheel that never got the grease
If you are one of the brave souls reading this article that does not work in public accounting (and let's face it, there aren't any people that will read this far into an article about income taxes and accounting that aren't accountants) most of that seems like what you would think any business and business owner should do. But for every other CPA in every other CPA firm, that isn’t even close to what your resolutions look like and this is exactly what we have to change because our industry is broken.
This is really important, it is time for CPAs to take control. This year in and year out trap we live with is built by us utilizing one of our greatest strengths, consistency. If we used our strength to build our problem, then we should expect it to be the incredibly strong problem it is.
Here is the problem we built, it's simple. We consistently use the same first two steps for every client we work with.
- The very consistent first step is to wait for the client to stop working on last year. Stopping takes the flow out of workflow. Taking control of the workflow will help every business close more efficiently.
- Once clients stop working on last year, the next step is to look at what we did last year for that client. More often than not, there are essential elements that are different for each client.
Wow, that's a mess. Let me try and sum it up. Wait until they stop to start and then look at what you did last time Think about it, if we can’t control the start and we don’t control what we do until we are ready to start, why would we expect anything other than a mess?
Shampoo Bottle Workflow
Our workflow solution looks like something you would print on a shampoo bottle, wait, look, repeat. I know this because the first question I used to teach my staff to ask when new work pops up on their desk is to ask “what did we do last year” and then I would tell them to do that. We all do that because that's what our bosses told us when we got started. We hire the best and the brightest students from the best accounting schools and we wonder why we have such a high turnover rate. When they look at what we did last year, and they do, they see they worked hundreds of hours of overtime, they spent no time with their family and they answered emails from clients 24 x 7 because they are always up against a deadline. Yet that is the exact plan we will take to them this year.
Most people have heard the saying, “the definition of insanity is doing the same thing over and over again while expecting different results.” Unfortunately for most CPA firms that have employees, their staff is not insane, they see we are going to do the same thing we did last year knowing we will get the exact same results and they are going to decide to do something different rather than expect to be happy doing what we did before. What’s worse, if your staff came to you with this article where a CPA said he was going to do the things they said because of some new technology, you would laugh and tell them, “I’ve been doing this for years, it’s never going to happen. It's been tried hundreds of times and it never works.” You might even point out that numbers 1 through 6 are mutually exclusive, you can’t do more by working less.
Truth Be Told
But here is the truth, at least as it comes to what you think and about my resolutions, those aren’t my resolutions. My resolutions are a much shorter list. That long list above is the things I know will happen because we follow through on my actual resolutions. We resolve to consistently implement two changes for every return. Because we hired accountants, we expect the resolutions to work because our CPAs are using their greatest strength, consistency. We resolve to
- TAKE CONTROL by
- starting now, not when our clients stop and
- ignoring what we did last year by implementing a standard procedure for every client
Guess what, we’ve already kept our resolution. That’s why this will work You are absolutely correct in stating this can’t be done as long as you don’t take control of the workflow for your business. Your clients want you to, your family wants you to, your staff wants you to and we found the tool that made it possible, its called BaCo Tech. It allows us to take control of our workflow, now, in real-time, we worked on some 2019 tax returns in 2019 and now we will work on all of our 2020 tax returns in 2020. We call it 20/20 vision for 2020.
If 20/20 vision in 2020 sounds like somebody figured it out and found the tool you've been looking for orif taking control of your workflow sounds like a plan you can get behind, click on the contact us link and hear about this amazing new technology. You can also sign up for our newsletter, where we will document these results for you.
If you want to see what this looks like for a client of the firm because you would be interested in a firm that delivered those kinds of results, the side effects of 1) and 2) for you are even better, just click here to see what BaCo Tech delivers for the clients of The BaCo Group.
Published on Jan 01 @ 1:43 PM CDT