Archives for November 2015

My Twitter for business rules

  • No politics
  • No following back of people using software to follow me
  • No following of people who just post quotes
  • No following of those who intend to be offensive whether with swear words or wind-up comments
  • Follow genuine likeable people
  • Follow people with quality postings
  • Follow people in my business unless they transgress another rule
  • Try to tweet valuable content but not news stories followers might have seen or can see for themselves.
  • Engage with those I follow and who follow me
  • Re-tweet posts of value

I have no compunction about unfollowing people who annoy me.

Oh, and keep the politics out of Facebook and other social media too. Thank you.

Do you have a tax issue I can help you with? Get in touch and I will guide you.

 

Never assume

When I started my first job, every bit of work I did was checked by a more experienced guy. I remember being asked why I had calculated a client’s dividends for his tax return without having evidence they had been paid. I said that I had assumed the shares relating to these dividends had not been sold, so the client must have had them. “Never assume” my colleague said. Although I was stung by his criticism, of course he was right and I was wrong. I should have checked with the client.

Assuming can get you into trouble. There is an accountancy joke “Why did the auditors cross the road?” “Because that’s what they did last year.” That is how mistakes are made, books are not checked properly, and those who are cooking them are not held to account.

In business generally, there are dangers in being comfortable and assuming all is right with our business practices. We need to check and check again we are being efficient. Perhaps above all, we should not assume that our customers are happy. Have we asked them? Everything may look fine from our side, but perhaps their expectations are different. It is too late to find out when they leave us. We should ask for feedback and talk to our clients regularly.

I try not to assume, but am only human after all. I have learned from my mistakes. What about you?

Do you have a tax issue I can help you with? Get in touch and I will guide you.

Banking on personal service

A friendly place lost to us

A friendly place lost to us

The local branch of my bank has closed. Gone are the friendly cashiers (tellers), the greetings (“Good Morning, Mr. Stow”), the feeling of being valued as a customer.

The other day I had to pay in some money and went to the big main branch in the larger town. There was one cashier, and otherwise the tills had been replaced with machines. One is supposed to post into a slot any cheques received, together with a slip. There is no human being with whom to interact.

I pay a fee for my business banking, but I do not now feel I am getting any sort of service for my money. I am one very unhappy customer.

My own business is based entirely on real relationships with my clients. I value them, and I hope they value me. I try to be available to them at all reasonable times, and they know that I am there to help. If they value me, they will be happy to pay me a good fee for a service which they are entitled to expect.

Small business is all about personal service and great relationships. Big business has lost sight of that and, while we cannot all open our own banks, our flexibility and friendly approach is to our great advantage in competing where we can.

Do you have a tax issue I can help you with? Get in touch and I will guide you.

How do I compete?

“How do I compete?”

That was a question recently put by an accountant who has another 125 accountants within a five mile radius. The easy answer might be “don’t”. Give in and do something else.

Then again, there is a lot of demand for accountancy services, but clearly plenty of supply.

The answer might be here:

  • The other accountants are not competitors but colleagues.
  • Do you have specialist areas in which you are strong and others might not be?
  • Can you sell your services to the others and outsource some of the work you are not good at or don’t like to them?
  • Can you concentrate on marketing your strong specialist areas to the public, making it clear you are different from the rest?

I am a tax guy, but I do not work in all areas of taxation. I specialise in landlord tax, capital gains on property, non-residents and a couple of other niches. Anything I do not like and am not good at, I simply do not do.

Do you stick to what you are good at? It is more enjoyable and more profitable too.

Do you have a tax issue I can help you with? Get in touch and I will guide you.

Rude and aggressive clients?

“Most clients and people in general I come across are just rude and aggressive.”

That is a statement I saw on an accounting website, posted by an accountant. I am surprised by the comment. Is everyone rude these days? Are they just rude to this accountant? What has he done (or not done) to deserve it? Has he got the wrong clients?

In my previous piece I mentioned a rather rude ex-client. I know it takes all sorts, but if I do not have a good relationship with a client, and feel comfortable working with her or him, I ask the client to go. Of course I find a good reason. “I know another business which would suit your type of work better.” “The profile of my business has changed and we cannot any longer offer you the service you deserve.” “I would need to double your fee”.

All these can end an unsatisfactory business relationship fairly amicably. Certainly I see no reason to put up with uncomfortable communication and rudeness. Why would anyone? You don’t, do you?

Do you have a tax issue I can help you with? Get in touch and I will guide you.

 

Shooting the messenger

I had a client “sack” me last week. He did not have the grace to tell me in person. Actually he telephoned to check my email address, which he had used many times, and when I asked after him, he said that he had someone with him and could not talk. Two minutes later I had an email telling me my services were no longer required.

Having been in business for a fair time, I have quite a thick skin as far as rude and graceless behaviour is concerned. I did not know the client was unhappy with me, and I always courage feedback by talking. In this case, the client had got himself into a financial mess tax-wise, I was the one who told him he needed to find some money fast, and I assume he blamed me for this, rather than himself.

I would not be good at business if I did not try to make sure my clients are happy, but some will not talk back.

Have you been blamed by a customer for their own failures?

Do you have a tax issue I can help you with? Get in touch and I will guide you.