Tax Season Preparation: Reflect, Review and Renew

Sometimes I feel that there's no separation between the prior tax season and the one we are about to begin. With the last quarter of 2022 only weeks away, I am in full-blown preparation mode. Not only setting goals, hiring staff and reviewing tax law changes, but I've begun to set aside time to prepare mentally by focusing on doing less while accomplishing more.

Just Say No!

It sounds so easy. But it's not. Here's how I began to do less and accomplish more last year. 

  1. Delegate, delegate, delegate. I'm a business owner with lots of energy and delegating is not one of my strengths. However, I was committed to offering a higher level of service to my clients and allowing my team to do the same by delegating to their strengths. 
  2. I learned to say no. In the past, I said yes to everything. Last year I became more selective. Forcing myself to say no allowed me to accomplish more.

Reflect on these three questions as you prepare for next year
Beyond the bottomline, how can I increase the level of satisfaction for my team, my clients and myself? 

As an extension of doing less to accomplish more, I've realized satifaction can mean much more than profit. And growth doesn't have to mean adding more locations or more clients.

When I am delivering the services that bring me joy, I can diversify our suite of services based upon the strengths of our entire team. 

I am evaluating growth through the lens of comprehensive business services such as bookkeeping, entity set up and payroll as well as our full range of tax services. As I hire for the upcoming season, I will look at opportunities through the skills of the candidates I interview.

How can I best use technology?

I get it. Technology changes daily. It's not easy to keep up with new software and new apps. But let's face it, technology is here to stay. It is the engine that drives our business.

We need to embrace how to do things differently. I, for one, am thankful to our franchisor that each season they introduce new and better ways to run our businesses. I believe that business success is the perfect combination of human knowledge and the use of technology.

One of the strategies I will implement in the next year is to best pair the knowledge of our team with new ways of using technology. I will intentionally hire people who are comfortable using technology and are enthusiastic about helping the entire team embrace it. That means I will be looking for younger team members. Afterall, technology is second nature to Millennials and Gen Z.

It doesn't matter how big or small your franchise operation is, it is imperative to have someone on staff who can navigate business through technology.

Do I need to adjust my schedule and/or deadlines next year to meet industry or marketplace changes?

This question has lots of impact for me. Having been in business for more than 20 years, I remember when I could hire staff only weeks before tax season. This year, I began interviews in August. I want to secure candidate now!

Shifting the hiring season has also shifted training schedules. Adjusting the timing on one part of the business changes the paradigm of "this is the way we've always done it!"

By setting aside specific time in the next month or so to REFLECT and REVIEW the personal, professional and financial side of your business, you start the next year with a RENEWED mindset and attitude for a fresh start to the new season.

I'd love to hear your thoughts on how you separate one season from the next. Share your successes and tips in the FCA chats.


Share this post: