How do i increase my sales for accounting and tax

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hey guys Kenny Dennis here um and for today what I wanted to talk about is I'm getting a lot of questions about what type of customers should I Market my tax or accounting firm to when you're first starting your tax or accounting business what you're going to want to do is you're really not in a position where you're able to pick and choose clients right you're in a position where you have to start making money you have to obviously start generating Revenue you have bills to pay expenses to pay especially if you're on your own doing your own thing so when it comes to that portion of the business that's when you're going to take on anything and everything then you transition to a new level in your business and that's what I kind of want to get into today is speaking about who are these clients we want to go after that are willing to pay us anywhere between five to ten to fifteen thousand dollars for an actual tax plan okay so that's what we're going to be discussing today so the number one thing that you have to look at and I always talk about this and write this down is pain threshold when you're looking at clients that you want to sell tax planning to it's not you want to sell tax plan to anybody and everybody right the reason why we're able to charge so much when it comes to tax planning is because there's such a high pain threshold when I say a high pain threshold what that means is think about a neurosurgeon right or think about a doctor or even think about a lawyer why are they compensated so much really think about that the reason they are is because the problems they solve are extremely big when it comes to a doctor the doctor is in charge of your health life or death there's no solution there's no amount of money we would want to pay to ensure that we don't pass away or we don't die from a certain disease or anything like that right the paying threshold is extremely high so when pain is extremely high Money Follows that so the more pain there is with a certain product or service the more money customers are willing to pay same thing for a lawyer right let's say for instance you're Johnny Cochran right Johnny Cochran has been known to get so many people out of jail in different situations and all types of things right why was Johnny Cochran able to get compensated so much for what he does the reason being is because whoever that person was that customer that customer was willing to pay anything to ensure that he didn't go to jail for 20 30 40 years because that's literally his life it's done it's kapoof capiche right everything's done so when you think about tax planning you think about what type of customers you need to go after or who you should really start to to turn your marketing to is who are the customers that have the highest pain threshold second you need to deal with customers that deal with high transaction values for so for instance what's an easy one that I can easily bring up a real estate investor right a real estate investor is a person who's basically acquiring multi-million dollar real estate uh multi-million dollar real estate they're doing heavy heavy and large transactions and obviously there's a lot of taxes associated with that right correct so when you're dealing with a situation like that those would be customers that are very ideal for tax planning there's a high pain threshold because if they're dealing with multi-million dollar properties there's a pain of paying the IRS a six-figure tax bill correct there's a pain of not keeping that money in their pocket and be able to reinvest that money into real estate there's a pain threshold of having somebody else essentially you know having that money basically gone where they're gonna have to write that check there's a lot of pain associated with that so when you're coming to a person with a tax plan and you're like hey you know Joe Smo I could easily save you around a hundred thousand dollars in taxes why do you think it's so easy for that person to say oh well yeah I'll pay you fifteen thousand dollars or 20 grand or whatever the case may be it's because the pain threshold is so high so when you're thinking about going after certain clients or going after certain people really think about who are clients to have high pain thresholds that is very very important who are clients who are very affluent that are dealing with large transactions that are making a lot of money who could I go after the third thing when you're going after a certain type of client the reason why that's so great and that's so important is for the simple fact of of the matter is you can speak their lingo you can speak the jargon The Talk think about if you ever had you know some of your best friends right you you have some of your best friends that you know when you guys all hang out you guys kind of have your own lingo your own jargon your own um inside jokes right then you meet a a girl or you meet a guy whatever the case may be and you get introduced to their friends group right you're trying to figure out how do they how do they talk how did they move how they interact with each other you're trying to assimilate right you're trying to assimilate when you're able to assimilate with people you're able to build a deeper rapport with people people trust you more okay so when you decide to pick a niche like Real Estate Investors what are the terms Real Estate Investors utilize as cap rate what a cap rate essentially means is how profitable is a property going to be right how much is the return on investment they're going to get so when you're speaking to a real estate investor when you're speaking in terms of hey I could develop a tax plan and a strategy that would basically increase your cap rate that's music to a real estate Investor's ears because now you're going after a person who has a high pain threshold you understand exactly their lingo how they talk and you're solving a massive issue when you're able to master those things that's when you're able to scale to six seven even eight figures as a tax and accounting firm because now you've had you have the right type of client you know exactly the type of lingo how to speak to them what they're about the magazines they read you've you've you've delved into their lifestyle and what they're about and now you're able to serve them at the highest level then it comes to the part of why do they want to decide to work with me instead of anybody else remember my philosophy and everything we've been talking about on all of these videos when you move out of tax preparation a commodity service where you're competing with Turbo Tax QuickBooks where you're competing on price the same thing if you're to go to grocery store and you're buying you know apples in in oranges you're buying Good Apples and orange but at the end of the day you're looking at the price it's a commodity it's it's readily available so when things are readily available you make decisions based on price when your attack strategist and you work with individuals to help them lower their tax bill then you're a specialized tax strategist because you're going after Real Estate Investors that that consumer will not compare you to other people he won't be well I have a CPAs and be like well she's my CPA knows nothing about this I have absolutely I've got to work with you you're the person I want to work with so that objection starts to leave you see what I'm saying and they're not going to ask you about the price because you've done your homework you know exactly where you're going after why you're going after these people and that's exactly how it's going so this was some food for thought this was something that I was thinking about getting a lot of questions about that and now you kind of have an understanding of who you want to go after and how you need to go after them okay again make sure you guys like And subscribe and even comment tell me some questions that you guys might have I love to hear you know different type of video topics and I'll literally go through the comments and create some videos so literally comment what you guys want to hear like And subscribe to the video as well again guys that makes it easier on us it gets more people to see the videos it inspires us to make more videos and I can deliver better content for you guys so please make sure you guys like And subscribe again I'm Kenneth Dennis please click on the links below we also do have a free training where I literally show you guys how to do this it's about a two hour two and a half hour training where I go just step by step by step on exactly how to do that so click the link below go into the training watch it and tell me what you guys think okay take care