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By Salim Omar, CPA

The Ultimate Blueprint

for After Tax Season Profits

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Welcome

Congrats! You made it.

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Which One Are You?

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What’s Holding You Back?

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#1: Not Using The Momentum Built During

Tax Season

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The greatest companies

today started small,

inefficient, sloppy.

INNOVATION is what

made them great.

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#2: Lack of a Proven Post Tax Season Strategic

Gameplan

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#3: Not Getting Your Team On The Same Page

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If You Don’t Do Anything About It

Cash will dry up

No new quality clients

Low profits for 2016

Same situation in next

tax season

End up working a lot –

burn out

Stress

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The Promise

Proven 3 Step “After Tax-Season”

Game Plan

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That Will Result In…..

Work lesser hours

Attract quality clients

High profits and cash

flow

Successful 2016

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3 Step “After Tax-Season” Game Plan

Operations Team

Attracting clients

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Say HELLO to Dan………..

I have earned an extra $45k this year in fees, my bank account has never had this much in it and all of my bills are paid in full to date. FYI, I am also all booked (and paid for) to attend your next conference in Dallas. Need to keep my streak alive as the only person that has attended all of your conferences. Never stop learning! Dan Henn, Rockledge, FL

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Say hello to SONU………

I had the best tax season in 14 years.

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Are You Ready To Have Your Best Year Ever?

…..

Work lesser hours

Attract quality clients

High profits and cash

flow

Successful 2016

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Fees Systems; Workflows; Policies; Client retention

3 Step “After Tax-Season” Game Plan

Positioning; The 3 M’s (Market, Message, Media) Client conversion

Operations Team

Attracting clients

Culture; People; Communication; Meetings; Praise

SECRET #1: TEAM CULTURE

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What is Team Culture?

The personality of your firm

The beliefs and behaviors that determine how a company's employees and

management interact and handle outside business transactions

A company’s culture can have a powerful impact on its performance

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• The ways it conducts its business, treats

its employees, clients, and the wider

community

• Extent of freedom with decision making,

developing new ideas, and personal

expression

• How power and information flow

through its hierarchy

• How committed employees are towards

collective objectives

How your Firm’s Culture

shows up

Culture is the glue that binds an organization together and it’s the hardest thing for competitors to copy

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Why YOUR TEAM Matters

You can’t enjoy exponential growth without a

productive team

You can’t provide your clients exceptional service

without a caring team

You can’t enjoy a satisfying workplace and interesting

career without a reliable team

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• Staff cliques • Mistakes • Lack of urgency • Missing deadlines • Excuses • Disrespect • Argumentative

• Inconsistent • Ups and downs • Will NOT go the

extra mile • 9-5 mentality • Not accountable • Resistant to

growth

• High integrity • Performance-

focused • Accountable

Innovative • Collaborative • Agile and adaptive • Oriented towards

winning

3 Levels of Team Culture

Poor Average Excellent

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• Staff cliques • Mistakes • Lack of urgency • Missing deadlines • Excuses • Disrespect • Argumentative

• Inconsistent • Ups and downs • Will NOT go the

extra mile • 9-5 mentality • Not accountable • Resistant to

growth

• High integrity • Performance-

focused • Accountable

Innovative • Collaborative • Agile and adaptive • Oriented towards

winning

Where Does Your Team Fall?

Poor Average Excellent

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Examples of excellent culture

Designing Your

TEAM

CULTURE

My Firm

Operates With

The Philosophy

Of…

• Growth

because staying

still or dormant

equates to “dying”

• World Class

5 star

• Make a Difference

to “matter”,

to “serve”,

to “contribute”

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The Culture at Straight Talk CPAs

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How to Create the Right Culture:

3 Principles

Principle #1:

Use a

“Post Tax Season”

Meeting

to Identify…

What went well?

What did not go well?

Delivery

Turn around time

Client happiness

Team

Productivity

Communication

Systems

Backlogs

Workflow

Lifestyle

Stress

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Company goals:

one year and quarterly

Principle #2: CREATE GOALS

Example:

Company goals:

• Revenue goals

• Productivity goals

• Efficiency

Team member

quarterly goals: KPIs

Team member goals:

• Revenue goals

• Productivity goals

• Efficiency

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Work flow and Team Building

Principle #3: Team COMMUNICATION

QUARTERLY TEAM MEETINGS Weekly Huddles

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When You Get This Right

You can provide your clients exceptional service with a

caring team

You will exponential growth with a productive team

You will enjoy a satisfying workplace and interesting

career with a reliable team

Less stress

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What would happen

to your practice

if YOU had

EXCELLENT TEAM

culture?

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3 Step “After Tax-Season” Game Plan

Positioning; The 3 M’s (Market, Message, Media) Client conversion

Operations Team

Attracting clients

Culture; People; Communication; Meetings; Praise

Fees Systems; Workflows; Policies; Client retention

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Why is

CHARGING THE RIGHT fee important?

Direct impact on the bottom line

Higher take home pay

More money to reinvest in the business

Foundation of practice success

9 out of 10 firms are undercharging their fees (based on strategy sessions with hundred of firms)

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What is the hardest part about pricing?

? Articulating value to the client

? Having the courage to price

? Knowing how much to price

? Convincing the client of the value

? Other?

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Value Belief

+

Value Contribution

+

Value Perception

=

Ideal Fees

Limiting pricing beliefs

“I’m too busy,

I’ll just charge

by the hour”

“It’ll probably take X

hours so we’ll

charge Y”

“There’s too much

time on the clock-

we’d better write

some down”

“I’m afraid of

what the

client will

think”

“What if they

say no”

“My clients

will never pay

that much”

“Our rates

must be in

line with

others”

“I can get it

done really

fast”

Typical REVENUE breakdown and fees

300 1040 x $300 $ 75,000

100 Business Clients x $2,000 $200,000

Other services $ 50,000

TOTAL $325K

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What if you have clients that are

paying you $5k – 25k/year in fees

Commercial repair and maintenance – Fees to my firm: $18k/ year to date: $162k

Machinery and rubber tracks family owned business – Fees to my firm: $32k/ year, to date: $184k

Dental practice – Fees to my firm: $7k/ year, to date: $38k

Elevator company

– Fees to my firm: $24k/ year, to date: $158k

Elder care company – Fees to my firm: $8k/ year, to date: $52k

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Typical REVENUE breakdown and fees

BEFORE

• 300 1040 X $250 $ 75,000

• 100 Business Clients X $2,000 $200,000

• Other services $ 50,000

TOTAL $325K

AFTER

• 300 1040 X $400 $120,000

• 100 Business Clients X $5,000 $500,000

• Other services $100,000

TOTAL $720K

4 Principles

The Awesome 8 Services

Packaging your services

Value drivers

Right sizing your current clients

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Services – the awesome 8

Financial

Reporting

Growth

Profit

Cashflow Protect

Tax compliance

and reduction

Sell

[CATEGORY

NAME]ment

8%

14%

17%

22%

39%

Do more marketing Lift your client service

levels

Be more transparent

with pricing

Focus more on the

future than the past

when working with

clients

Offer more services to

help me improve my

business

If you had to choose one of the following pieces of advice to assist your

accountant, which would you choose?

428 Business People have spoken!

Offer more services to help me improve my business

A new approach

Every client

should be buying

every service they need

that helps them achieve

their goals!

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What’s the Revenue Potential of Offering

Adding Value Added Services to Clients?

Number of clients

x additional services

x fees

x 5 years

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Packaging Your Services

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Transitioning Clients: Compliance to Advisory

Avoid offering business advice to “compliance only” clients

Let them know of your new role as “business advisor”

Why you? (experiences, study, etc.)

Offer options via frequency of meetings

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Client services mix

Pre

par

e F

. Stm

ts

Quic

kB

oo

ks

Fin

anci

al

Ste

war

dsh

ips

Sal

es

tax

Budge

t

Cas

hflow

Pla

nnin

g su

ccess

ion

Monitori

ng

–

month

ly / q

uar

terl

y

Tax

pla

nnin

g

Pay

roll

Tax

es

Ass

et

pro

tect

ion

Co

achin

g

Syst

em

s deve

lopm

ent

Client name

Client name

Client name

Client name

Client name

Client name

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What keeps you up at night?

What are your main challenges?

What are your short term (0-3 years) growth plans?

What are your long term (5 – 10 years) growth plans?

What differentiates you from your competitors?

What market share do you currently have?

What’s your exit strategy?

Value Drivers

Right-Sizing

Your Fees • Create a standardized

pricing sheet

• Complete the pricing sheet for all clients

• Bucket your clients

• Decide on how you are going to communicate the fee increase to the client

• Right sizing one of my clients this week led to an ADDITONAL $7.2K in fees

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Pricing Sheet

Business' Annual Revenues Quarterly Thrice Twice Annually

Up to $1 million $155 $125 $90 $60

$1.0 to 2.5 million $250 $200 $145 $100

Over $2.5 million $385 $320 $260 $165

Main Bank Account

<25 Transactions $110

25-50 Transactions $150

51-75 Transactions $175

>75 Transactions Custom Price

Other-Semi/Inactive Accts $25

Credit Cards $35

Asset/Loan Analysis $35

Quarterly Thrice Twice Annually

$155 $125 $90 hourly fee

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Why do most practitioners end up

charging low fees? • Fees increases are NOT

seen as a strategic activity

• Uncovering opportunities

to offer additional

services NOT performed

in a strategic manner

• Fee increase not planned

for and scheduled in the

calendar

• Uncovering opportunities

not done proactively

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Don’t know how to structure it

AND

If not done right, it has negative repercussions

Why do most practitioners end up

charging low fees?

What impact could

this have on your

revenues and

profits?

Every client

should be buying

every service they need

that helps them achieve

their goals!

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When You Charge The Right Fees….

Direct impact on the bottom line

Higher take home pay

More money to reinvest in your practice

Build a more valuable asset

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What has been most valuable so far for you?

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3 Step “After Tax-Season” Game Plan

• The 3 M’s (Market, Message, Media)

• Positioning; • Client conversion

Operations Championship Team

Attracting clients

• Culture; • People; • Communication; • Meetings; • Praise

• Fees • Systems; • Workflows; • Policies; • Client

retention

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Dan Kennedy, Best selling author of 15+ books

Client Attraction

Frankly, if you have emotional

hang-ups about sales and

marketing, don’t “like” it, are

convinced you aren’t good at it,

and refuse to hunker down and

get good at it, I just don’t have

much hope for you when it

comes to wealth attraction.

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Attracting the RIGHT Clients

• We all know the characteristics of a bad client.

• We also know the consequences of having a

practice that is filled with bad clients

• Stop signing them up

• Instead, become clear about the RIGHT clients

• The success of your practice and your lifestyle

hinges on putting a system in place to bring them in

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Demographics: classify people and businesses

in ways that can be measured

– Example: People in their 30s, married

with 3 children

Psychographics: the use of demographics to

study a measure attitudes, values, lifestyles and

opinions, as for marketing purposes.

– Example: Conservative, religious,

health-conscious

Your Client Avatar

(As adapted from David Tyreman’s book, World Famous.)

• Who are your top

clients?

• What do they like

about you?

• You want more of

them.

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What are the "demographic"

commonalities of your ideal

customers?

• Are more of them male or female?

• How old are they?

• What kinds of businesses do they

have?

• What jobs do they do?

• How much money do they make?

Your Client Avatar – Demographics

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What are the “Psychographics"

commonalities of your ideal

customers?

• What is their inner reality

• What are their fears and

frustrations in life?

• What are their desires and

aspirations?

Your Client Avatar – Psychographics

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Get creative here. Do they like the same music?

Do they share a political view?

Do they have an experience

that they've all shared?

What do your customers have in common?

If you had to sum up the "story" of your ideal customer's life –

as they tell it – how would it go?

• What's a day in the life of your ideal customer like? Think of it from their perspective. We learn an important skill at 4 years old.

• We learn to EMPATHIZE.

• Most of us never practice this skill proactively, so we experience only a fraction of the value and benefit we could get from this amazing skill.

• To practice, write a narrative, from your customer's perspective telling the story of being in a painful, frustrating situation without knowing what to do… then discovering the valuable solution that YOU offer...taking advantage of it…and then experiencing the benefit.

• Focus on irrational, emotional fears, fantasies, and drivers - and the emotions felt once the solution is found and realized.

Let me share with you what I have found out when I have gone

thru this process and how it has shaped who my ideal client is in

my practice.

• One of the BIG Fears they have is the I.R.S.

They are scared of it and do not want to do anything against the law.

• They believe that their business can be more profitable and the reason

they got into it is to give them a certain lifestyle.

• They feel their accountant can help them more than just telling them

where to sign on the tax returns and giving them financial statements they

don’t know how to decipher.

They want more meaningful communication with their accountant.

• They lose confidence in their CPA when things are not completed as

promised. When response time is too long.

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• 40 to 62 years old

• Has 2 to 3 kids

• College educated

• Has a business that is within

20 miles of my office

• Revenues of $1M - $15M

• Employees: 5-25

From a “demographics” standpoint, my ideal

business client is:

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• Growth minded.

• They see themselves as leaders and striving to be the best in

their industry.

• They are respectful.

• They are smart, have business savvy, seek and

value good advice.

• They know they don't have all the answers so they are open to

reading and attending seminars.

• They are community minded - they are givers.

Once I had a clear idea of who my ideal client was, I was able to put

a client attraction system in place to bring them on board.

From a “psychographics” standpoint, my ideal

business client is:

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My Client Avatar…..

• These types of clients are fun to work with and very profitable.

• No more clients who would beat me up on fees or

who are stressful to work with.

• Same practice I had BUT now earning 3 to 4 times more.

• And working much less.

• Importantly, I am ENJOYING my practice.

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Who is Your Perfect Client Avatar?

• What are characteristics of the perfect client avatar….

so you know exactly who it is you’re targeting.

• Describe from both standpoints of:

Demographics and Psychographics

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1: “Positioning” It's how you pre-sell, most important part of

the whole process. Quality of a relationship dependent on how

you bring them in. Push versus pull (expert).

2: “Client Experience” Once they’ve become your client.

You want it to be congruent with the positioning you laid out.

(proactive advisor.)

3: “Retention” All the ways to retain clients (constant

touches, personality, extra mile, etc).

3 Very Important Steps to Attracting Clients

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What would happen to your practice if you had

a client attraction system that brought in a

consistent stream of quality clients?

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WRAP UP

Operations Team

Attracting clients

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Are You Ready To…..

Work lesser hours

Attract quality clients

High profits and cash

flow

Successful 2016

76

Make This a Thing of The Past

Cash will dry up

No new quality clients

Low profits for 2016

Same situation in next

tax season

End up working a lot –

burn out

Stress

77

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The Most Advanced Practice Framework Ever Assembled

1) Client Attraction and Conversion Systems for BIG Profits

2) Systems and Processes for Ultimate Practice Freedom

3) Scaling up

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"Salim puts so much of himself and his heart into

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Salim, thank you for another outstanding

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on attending the conference with me next year.

I look forward to seeing you again in Dallas.

Cynthia Hays, Mesa, AZ

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Fees Systems Workflows Policies Client retention

Deep Dive & Blueprints

Positioning The 3 M’s (Market, Message, Media) Client conversion

Operations Team

Attracting clients

Culture People Communication Meetings Praise

2015

www.CPAliveEvent.com

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Hello Salim.

Thank you very much for hosting the 2015 event. You had

speakers of the highest quality, who are not only leaders in

their field, but are also high-quality individuals. I cannot thank

you (and your staff) enough for all of your hard work.

I hope to see you again at the next event.

Thanks,

Tony Garcia, Chicago, IL

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Chicago, IL

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Q & A!