What Business Do You Want to Be In?

You would think that it’s pretty hard to open a business without knowing what business you’re in. It’s easy to imagine what the race looks like when you’re just heading out the gate. But what happens down the road when things like technology, the economy, or consumer demands change? What happens when you change, and get tired of the business you’re in?

April 15 has come and gone, and we’re bidding farewell to another tax season. For some of you, it’s no big deal. For others, it’s a time of great relief, like finishing a marathon.

Rough tax seasons are fine if you like running marathons. Repeating them year after year is fine, too, if you’re invigorated by training and running the same marathon year after year.

But what if you’re not? What if you’re just tired of it all?

Lots of TaxCoach members started out by opening tax preparation businesses. And there’s nothing wrong with that, if tax prep is what you like to do! We can debate whether technology and commoditization threaten the long-term business model, but that’s a subject for a different day.

Over time, though, many of the members who were happy to grind out hundreds of returns in a season just get tired of that grind.

The good news is, it’s easier to transform your business than you think.

Longtime member Anthony Amatore, lovingly known to us as “Tony Loopholes,” used to have that kind of business, too. But he was tired of the grind, and (here’s what made the difference) he decided to do something about it. He sent us this email last Thursday, and we think you’ll find it well worth reading, too:

“I feel like it’s Christmas Eve, (actually its Thurs 04/13- almost tax deadline eve) and I’m here in the office at 5:30pm, and not a creature is stirring not even a mouse.

All the final tax returns are stacked by the chimney with care (and I didn’t do any this year-the guilt, the guilt !!!), in hope that tax day soon would be here. Well you know the rest. I’m only here waiting for a client to drop off a tax planning check for 5k and then I’m meeting my daughter for dinner, she is driving home from private college to spend time with her dear ole dad!!! Then off to a ball game tomorrow with family and friends, it will truly be a Good Friday!!!!!!

Before Tax Coach none of this would have been possible. 

God Bless you Ed, God Bless you Keith, God bless you Lisa, and the rest of the Tax Coach crew.

My life has forever changed!!!!!”

Are you in pain over a long, tiring tax season? If so, now is the time to resolve to do something about it. Don’t wait two weeks to decompress and then decide to change. The pain will have faded, and you’ll drift right back into the same passive patterns that led to this season’s pain.

Are you feeling better now than at the end of any previous seasons? Great! What did you do this year to make it easier? (Please don’t tell me “blind luck.”) Now is the time to resolve to do more of whatever it is you did to make this year easier.

Are you like Tony Loopholes, sitting on top of the world? Don’t take it for granted! Tony’s not resting on his laurels – he’ll be attending the sold out Tax Strategy Conference next month to keep polishing his skills and make sure he stays on top where he belongs.

You know what business you started out in. Is it the same business you’re in now? Is it even the business you want to be in? If not, now is the time to answer the hard questions about getting from where you are to where you want to be.