With Thanksgiving approaching, many of us are preparing for the upcoming tax season. In my business readings, I have included Blue Ocean Shift … the sequel to Blue Ocean Strategy. Too many tax prep firms focus on price and convenience, a dangerous strategy that creates a ‘red ocean’ of competition that weakens the profession and minimizes the value of the work we do.
I prefer a blue ocean strategy that sets me apart from the competition by providing value-added service and guidance to my clients, using technology that goes beyond the tax preparation software.I want to help my clients evaluate their audit risks and mitigate the risk with proper documentation and common sense restraint. I also want to help them mitigate the risk of inadvertent omissions on their returns.
As Enrolled Agents, we are the tax experts. I believe we should be specialists, rather than general practitioners. By doing this, we will set ourselves apart from the data entry specialists who rely on their computers to ‘get it right.’ This strategy will generate higher fees and greater client loyalty.