Since this is the last week before personal tax returns are due (Monday, April 18 deadline), I wanted to still reach out with some thoughts for you and your business … but I’d also like to let you know that we’re pretty, um, busy this week! (For which, we are very grateful.)
So, I thought I’d also remind you of a few deadlines that also occur on the 18th, just to make absolutely sure you remembered them.
Here are those other deadlines that fall on April 18th this year:
1) Estimated taxes for the first quarter are due.
2) Want to open or contribute to an IRA or Roth IRA for 2015? Gotta get that done by Monday the 18th.
3) Final day to max out contributions for your 2015 HSA (Health Savings Account).
4) Claim any refund money from an unfiled 2012 return. (There is almost $1BN of unclaimed refund money out there for that year — but only available if you didn’t file then.)
5) Most states tax deadlines also fall on the 18th. (Exceptions – DE 4/30; HI 4/20; IA 4/30; LA 5/15; ME 4/19; MA 4/19; VA 5/2; any state with no income tax.)
Now, we’ve been diving into lots of client books the past few months, and it made me realize something that I wanted to make sure you were implementing within your business…
Where’s The Real Wealth in a Long Island and Stamford Business?
“This is the precept by which I have lived: Prepare for the worst; expect the best; and take what comes.” -Hannah Arendt
How many times does a client do business with you — and you are not able to continue to communicate with him because you don’t know how to contact him?
You see, the real wealth in your business is your existing customer base. But yet, the proper building, maintaining, nurturing and use of the most valuable asset of any business – the ‘house list,’ is widely neglected.
Marketing experts say that it is 10 times easier to get an existing client to return to you than it is to get a new client to do business with you. Frankly, I’ve found that to beincreasingly true, in our firm (not less).
Plus, returning clients will spend twice as much with you upon their return as the new client will spend on their first contact with you. What would happen to your businesses if you had to constantly rely on selling new clients instead of existing ones? So … why do so many businesses still NOT collect their client data?
Bad business decision-making, pure and simple.
In this day and age, there are so many tools at your disposal to automate the process for you, and gather all of the client data that you might need. There are several different CRM (Customer Relationship Manager) software providers that allow a person to easily keep track of, stay in touch with, market to, and ask for referrals from your clients.
And, as I’ve stated often before — it’s best done in the context of providing value, and building a relationship.
But it starts with having the information at your fingertips! So, make the commitment now to become the best at client data collection. You will NOT regret it.
Feel very free forward this article to a Long Island and Stamford business associate or client you know who could benefit from our assistance — or simply send them our way? These particular articles usually relate to business strategy because, as you know, we are Profitability Consultants also specializing in tax preparation and planning for Long Island and Stamford families and business owners. And we always make room for referrals from trusted sources like you.
Michael J. Kessler, CPA
PS–Join us for our show Business Profits In The Real World Saturday afternoons at 4 on 103.9FM WRCN where we bring you Long Island and The New York-Metro’s most successful business owners sharing how you too can bring your business to among the most profitable in your industry. No radio? No problem! Listen live at LINewsRadio.com – or can’t listen live? Hear our past shows atMichaelKesslerCPA.com