Put a Little Magic to Work for Your Business

Let me confess up front that the subject line of this week’s post is a bit of a bait-and-switch. I didn’t go to Hogwarts, and I can’t really help you put magic to work to build your business. (If I could, I’d already be using it to build mine.) I can’t even teach you card tricks to use during presentations, like pulling a quarter out of your ear. (And why a quarter? Wouldn’t a $100 bill be a better trick?)

But I do have a “magic question” that I used to build my own business before I launched TaxCoach 11 years ago, and I want to share it with everyone here. Many of you who are already TaxCoach members have heard it before. But if you’re not using it every single day, you’re missing a huge opportunity to fill your office with eager clients. And it’s even more powerful now that “planning season” has officially begun.

Here’s the question:

“When was the last time your tax pro came to you and said ‘here’s an idea I think will save you money?’”

This deceptively simple question opens doors like magic. That’s because the answer is almost “never.” Just like that, you’ve driven a wedge between your listener and their current tax pro. Just like that, you’ve created a way to distinguish yourself from that provider, and anyone else who might be competing for your listener’s business.

Where do you go once you’ve opened the door? Where do you want to go?

Here’s how a traditional accountant might play it:

You: “When was the last time your tax pro came to you and said ‘here’s an idea I think will save you money?’”

Prospect: “Ha ha ha ha ha, never.”

You: “That’s usually the case. Most accountants are trained to focus on compliance. They do a fine job putting the right numbers in the right boxes on the right forms, and get them filed by the right deadlines. But then they call it a day. They do a great job recording the history you give them. But they don’t make a proactive effort to help you write history so you pay less. That’s where I’m different.”

From there, it’s an easy step to introduce your free tax analysis (or whatever you brand it to appeal to your target market) into the conversation. If your listener is in enough pain over their tax bill, that may be enough to schedule an appointment on the spot. If not, get their contact information so you can drip on them until they feel the pain. (Our Wire Service done-for-you email system will do all that work for you.)

Let’s say you’re not even an accountant. You’re a financial advisor, looking to use tax planning to open doors – but you don’t want prospects to assume too much about your technical expertise. Here’s how the conversation might sound:

You: “When was the last time your tax pro came to you and said ‘here’s an idea I think will save you money?’”

Prospect: “Ha ha ha ha ha, never. But why are you asking… you’re not an accountant?”

You: “No, I’m not. But I specialize in helping (people just like you) pay less tax, legally, morally, and ethically. It works like going to the doctor. We start with a diagnosis, prescribe a solution, then fill the prescription. When it comes to some areas, like insurance and investments, I’ll fill the prescription. In other areas, like business entities, we’ll work with your accountant or attorney to fill those prescriptions.”

Do you make a to-do list for yourself every day? Put that question on the list! Find someone new to ask it to every day. (If you miss a day, find two the next day.) Then track your results for a month. You’ll find it works like magic!