In this week's session, I’ll talk about common reasons tax businesses or franchises don’t grow. Growth is necessary to a businesses health and integral to an entrepreneur’s success. Having growth gives confidence to employees and to customers. It shows that the business is viable. For some, it is very hard to achieve and, for most, it is not easy to attain double or even triple digit growth. Over the past 13 years in the tax business, I have never had even one year where I wasn’t able to achieve double digit growth and have had many many years with triple digit growth. It is a great feeling when you can look from all of the planning and and work that you have done by mid-February and see that you have drastically increased you’re revenue year over year. And it’s an even better feeling when you get to treat yourself and pop the bottle of champagne on April 15 to celebrate the end of another successful tax season. I love it.
The number one reason for not achieving the growth you desire is something that is very simple and easy to fix. It is something that I was doing incorrectly for years.
So why do most tax businesses and franchises not achieve such growth? It’s simple. They sweat the small stuff. Yes, I’m borrowing that phrase from the popular book from the 90’s by Richard Carlson.
There’s lots to do when you own a traditional tax business and it can be easy to get caught up in the stuff that doesn’t really matter. Finding and taking care of customers needs to be your number one priority during the tax season. That will help you ensure your growth. Sure, there are things that will come up that are not specifically related to growth. You need to run your operations. You need to plan your marketing. You need to handle situations and opportunities that arise. Just make sure you are continually working on revenue producing activities. Learn to delegate or make wait the stuff that’s not important to generating revenue. This is one of the key advantages of owning a Happy Tax franchise. You get to focus on business development, sales and marketing, and leave the rest to us. Think about it. As a Happy Tax franchise, you can earn between $140 and $350 for every tax return you source. Wouldn’t you rather spend your time finding more of tax returns that earn you that than working on minutia like tax return preparation, tax research, processing returns and answering customer questions? We’ll handle all of that for you so you can earn the money you deserve and be a true entrepreneur.
This has been our 26th Weekly Tax Industry Strategy Session and our last for 2015. I’d like to thank everyone who took part in producing these videos over the past 6 months. And also thank everyone who has watched, sent in questions and thanked us for our help. In fact, with this week’s video,we should pass 1,000,000 views for our Youtube channel. I really enjoyed making these videos and will continue answering questions from our viewers. We’ve also been hard at work here at Happy Tax helping franchisees from across the country to start their businesses. In spirit of what this weekly session is all about, our focus is now going into our amazing group of franchisees and providing them with the support, tools, technology, and marketing they need in order to reach their goals and be successful in owning their franchises. We will be providing video and conference call support to all franchisees throughout the fall and into the tax season and then we’ll be back with our Weekly Sessions next May. We are so excited for the coming tax season. I’m really humbled by all of the interest from viewers, prospective franchisees, investors, the press, and thankful to those franchisees who have already joined us already and to those will continue to do so in the next two months.
Have a wonderful and productive rest of the year and take care.
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Happy Tax. - Smile, It’s Time to File.