“The first principle is that you must not fool yourself and you are the easiest person to fool.”
Richard P. Feynman
Accountants live in the gap of what needs to be done. There is always work to be done whether it’s a deadline crunch or catching up after a deadline. Tis the nature of the business. Good job security but the business model needs work. If you don’t think so, just ask your team or spouse about tax season.
Here’s how it goes:
April: Grind through to the 15th then spend the end of April climbing out of your tax season cave. In the depths of your tired mind, you know you need to work ON the firm so you don’t repeat tax season but there are other firm and personal priorities. The firm priorities are any client fires you kicked down the road, catching up on accounting clients…and the personal priorities are many. More time with the family and “kick starting” your get in shape plan. Friends, don’t forget your friends.
May: Most firms waste May. There is plenty to do but after the long hours and stress of tax season May ends being a slog. Most tax resources aren’t very productive and as much as partners want to work ON the firm.. the month often slips away. With any intention firms that are behind on accounting work will get close to caught up. Renew firms take the approach “don’t waste May.” Begin with the end in mind and know what you want accomplished before 2nd quarter estimates go into swing.
June: Early June is all about estimates and many firms hit a conference or two. The goal being to get in the mindset of working ON the firm eg there are things we need to fix. Hopefully firms have a productive end of June getting caught up before July (vacation month).
July: Most firms are pretty vacant with the 4th of July and July vacations.
August: Another month that it’s important not to waste. This is prime time for planning fall deadlines and setting goals for the rest of the year. Summer coming to an end and school starts so it takes discipline and accountability to make things happen. In our experience, observation most firms do not use this time wisely and are inevitably busy / out of control again in September and October. Mini tax season pit in the stomach.
September: Beginning of September firms are focused on the 9/15 deadline and with any planning they get to celebrate Labor Day. Window at the end of September to be proactive and get a few things done before the October 15th crunch kicks in.
October: The first two weeks of October are focused on 10/15. After 10/15.. with the tax season pit in your stomach on the horizon you may attend a conference.. the challenge is the window for change after the 10/15 deadline is short… Thanksgiving is looming then the race to Christmas.
November: Most firms are in tax season preparation mode… that is, software implementations, repricing… figuring out how the heck they are going to make it through tax season with limited resources. The internal dialogue is… “how can we get all this done before tax season?”
December: Fresh off of Thanksgiving tax projections and tax planning is in full swing along with holiday parties and family commitments. Not a lot of time to work on the firm. Have to get a bunch done before year end. It’s the race to Christmas.
January: Back to office after the New Year. Most firms find the beginning of January a good time to go on vacation. After all once tax season kicks in towards the end of January… February to April 15th is shot…
There is a better way. Renew helps you transform your firm by creating value for the right clients, at the right price so that you can attract and retain a team that works less so that the firm profits more. You can keep trying not to fool yourself… or build a firm where your calendar serves you, not the other way around. Let’s talk, and we’ll show you exactly how.
