Major new tax research by CCH may hold the key to improved profits
03/06/2010 10:17:17

CCH have just commissioned a major research study into the keys to success for the tax side of your practice, and the findings published a few weeks ago make fascinating (and scary) reading that no practice can afford to ignore.

For copyright reasons I can’t give you chapter and verse on what is in the report.

However I do have CCH’s permission to tell you that if your practice is average, the research suggests that:

• 52% of your clients don’t believe you are saving them money
• 36% are not really happy with the overall service you give them, and
• Your best clients are most at risk of leaving you – because 65% of them are being actively courted by other accountancy firms

Obviously I need to stress that the research wasn’t specifically done with your clients, and your results may not be the same as these industry averages. Even so, the averages are very instructional (and sobering) I feel.

Other key insights in the report

In addition, the report also reveals:

• The alarmingly simple key to dramatically increasing the number of referrals you receive
• And the equally simple thing you can do to increase the average amount you earn per client
• The truth about whether it is important to offer competitive prices
• The types of billing policies clients really like - and the types that turn them off
• What you must do to make sure your best clients don’t switch to another accountant

My view is that switched on practices need to have a copy of this report because:

• It gives you the facts about what clients really think and want
• It shows you what is happening in the market – and allows you to evaluate your firm’s performance by benchmarking it against others
• It gives you the ammunition to eliminate any complacency amongst colleagues who don’t see why things need to be improved
• It shows you where to focus your change efforts to get the best results

How to claim a 20% discount from CCH

And for those reasons I have negotiated a special deal for my contacts. The normal price of the report is £379.

But you can claim a 20% discount if you order online at…

http://www.cch.co.uk/croner/jsp/newgroupDetails.do?bundleGroupId=1422927&BV_UseBVCookie=yes&channelId=-333073

… and use the promotional code UQ/P040283. (And in case you are wondering, CCH will not pay me in any way if you take up this offer. So it is you and not me that will benefit).

But you will have to hurry, since the promotional code is only valid until 25 June 2010.

Note: As part of our on-going relationship with CCH I will be tracking orders made under this offer. If you have any objections to this, please let me know.