Testing Your Practice Management Skills

At the first get-together after the conclusion of tax season, we frequently ask our colleagues the following questions:

  • Were you satisfied with the revenues?
  • Were you satisfied with your efficiency?
  • How did your marketing efforts pan out?
  • How many clients did you lose?
  • How many clients did you gain?
  • How do you measure your performance against industry and business norms?
  • What can you do, or what can be changed, to improve the way that you operate your business?

How did you answer these questions? Most practitioners would say that the 2013 tax season was the worst ever. Congressional brinksmanship, along with last-minute tax changes, made it tough on the IRS and practitioners. The circumstances brought software companies to their knees and, in some cases, forced them out of business, further impacting the practitioner community.

Nevertheless, most practitioners made it through the season. Yet, after the conclusion of tax season, all tax practitioners should analyze their business performance while it’s still fresh in their minds. After all, how can you make improvements if you can’t measure your strengths and weaknesses?

Practice Analysis - Most practitioners don't know where to start when it comes to performing this kind of self-analysis. There is little published information to help them to measure their performance. To aid you with this task, an analysis worksheet was prepared that pulls together key information about your practice and allows you to grade your performance. Click here to download the ClientWhys analysis worksheet.

  • Lee Reams Sr.

  • Lee T. Reams is the Chief Technical Officer of ClientWhys. He is also an Enrolled Agent having managed a 600-plus client tax practice. Educated as an engineer, with a Bachelor's Degree in Mechanical Engineering, Lee left his engineering career in 1975 to expand his part-time tax practice into a full-time career.

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