Business

know the signs of burnout

Know The Signs Of Burnout

Accountants, Accounting Firms, Business, Helpful Tips, Self Care
know the signs of burnout

Know The Signs Of Burnout

virtual assistant

Burnout is often mistaken for being overworked, burning the candle at both ends, all work, no play, you get the idea. And while yes, all those can and will lead to burnout, it's also important to know there are other factors, such as hating your job, your situation, or not getting the support or appreciation you need from others. Recognizing the warning signs of burnout is crucial to prevent it from spiraling out of control.

Before we dive into recognizing burnout, let's understand what it actually is. Burnout is a state of chronic physical and emotional exhaustion caused by excessive and prolonged stress. Small business professionals, like Accountants and CPAs, often find themselves working long hours, managing tight deadlines, and handling demanding clients, which can take a toll on mental and physical health.

Here are some common signs to watch out for:

Disturbed sleep patterns, persistent fatigue, insomnia

The relentless cycle of thoughts about work can disrupt your sleep patterns and leave you persistently fatigued. Don't ignore these warning signs, as they could be indicators that you are either experiencing burnout or approaching it. It's crucial to address this issue promptly to prevent further deterioration of your mental and physical well-being.

Get checked out by your doctor to ensure you don't have any physical reason that keeps you up at night. Then try meditating, or deep breathing exercises, twice a day. Five minutes in the morning and 5-10 minutes at night before bedtime. Also, ensure you get some physical exertion during the day - a 30-minute walk will help your brain turn off the daytime drama.

Frequent headaches, muscle pain

These physical manifestations are often a result of the body's response to prolonged stress. As individuals push themselves beyond their limits, their bodies begin to suffer the consequences. If you are experiencing frequent headaches and muscle pain, it is essential to take immediate action.

Seek support from healthcare professionals or contact trusted individuals who can guide you during this challenging time. Remember, addressing burnout is not a sign of weakness but rather a proactive step towards regaining control over your life.

Weakened immune system, frequent illnesses

The thing about mental and emotional distress, they can lead to physical illness. You can become more susceptible to colds and infections because your defenses are down. If you're suddenly getting sick for no reason, it could be a sign to look at your self-care routine.

Set boundaries and establish a healthy work-life balance. Ignoring or downplaying burnout symptoms can lead to further complications and hinder one's ability to function effectively in both personal and professional settings.

Difficulty concentrating and decreased productivity

This can be directly related to fatigue and insomnia. When you can’t sleep well or concentrate, it is natural that you may forget things, not work fast as you did before, and have difficulty making decisions.

Take regular breaks that involve some physical activity 2-3 times during the day, and try some stretching exercises or yoga.

Increased irritability or impatience

When you are experiencing the brunt of burnout, you may act out with hostility due to being disillusioned about business and life. You may micromanage your employees or show annoyance towards a client. If you are not enjoying it and feel like you never will, you may be in burnout.

First, prioritize stress management. Regularly engage in physical activity to release endorphins and combat stress. Take regular breaks and vacations to recharge and rejuvenate. Then work with your team. Delegate tasks and collaborate with your team to distribute workload effectively. Fostering a supportive work environment can significantly contribute to preventing burnout. Encourage open communication, provide resources for well-being, and advocate for policies that prioritize work-life balance and mental health.

Feelings of cynicism, detachment, or apathy

When burnout gets really bad, you might want to pull away from others due to not caring about anything. If you feel like your actions don’t matter, it can lead to hopelessness.

If you find yourself self-isolating or feeling like it will never get better, talk to someone. Reach out to colleagues, mentors, or support groups to discuss your feelings and challenges. Consider seeking professional help from therapists or counselors if needed.

Recognizing and taking action to overcome burnout is essential for accountants and CPAs to sustain their well-being and excel in their professional lives. Remember, you are not alone in this journey. Reach out for support, practice self-care, and prioritize your mental and physical health. By doing so, you can restore balance, find fulfillment, and continue to thrive!

If you feel depressed or find yourself idealizing death, please seek professional medical care. You can call the US National Suicide hotline to get help at 1-800-273-8255 or Talk Suicide Canada at 1-833-456-4566.

Trying to do it all?  Imagine if you could get rid of all the time-wasting tasks that clog up your schedule, and just focus on what matters most to your business. Sounds good, right?

Contact me at Info@thetaskva.com for more information, or schedule a quick 15-minute chat.

Take our quiz and see if you need a helping hand

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connecting with clients, customer care

The Importance of Connecting With Clients

Accountants, Accounting Firms, Business, Customer Care

The Importance of Connecting With Clients

virtual assistant

Let's talk about the importance of connecting with your clients and why building meaningful relationships through trust, communication, and understanding is vital for any thriving business, but I firmly believe it is crucial for the success of an accounting business.

In today's fast-paced and competitive world, establishing a genuine connection with your clients goes beyond just providing a product or service. It's about creating a bond that goes deeper, fostering trust, and showing them that you genuinely care about their needs and aspirations.

It is vital to connect with your accounting clients and be there to answer all of their questions. The people who come to you for professional help do so because you deliver something that they cannot or do not want to handle on their own. They're hoping that you can fulfill their needs somehow, and they look to you as an expert guide. Naturally, therefore, they require your help in solving their problems.

So when your potential clients decide that it's time to fork over their hard-earned cash to solicit your support that brings them closer to their goals, they're always going to search for that one intangible thing, trust.

One of the key elements in building strong client relationships is trust. Trust forms the foundation upon which a successful business relationship is built. When clients trust you, they feel confident in your abilities and have faith that you'll deliver on your promises. Trust develops over time through consistent, reliable performance and transparent communication. By following through on your commitments and being honest and transparent in your dealings, you demonstrate that you value their trust.

✨They want to trust your expertise and your ability to solve their challenge.

✨They want to trust that you're keeping their needs on the highest priority.

✨They want to trust that you will provide high value with your services.

✨They want to trust that you won't rip them off

✨They want to trust that you won't do something unethical in your business dealings with them.

And the best way to build that trust is through communication.

Effective communication involves actively listening to your client's needs, concerns, and feedback. By taking the time to understand their unique requirements, you can tailor your services to meet their specific expectations. Clear and open lines of communication allow for a better exchange of ideas, leading to improved collaboration and problem-solving. Regularly checking in with your clients and keeping them informed about progress or any changes in your business helps build rapport and demonstrates that you value their input.

Your clients want to get the sense that you are "with them" every step of the way. Use the below steps as a guide to help you deliver effective communication that reaches your client at key points in your project or process:

1️⃣ Kick-off with a getting-to-know-you dialog. Keep the conversation about the client and their wants and needs.

2️⃣  Keep your client engaged at all times. The dialogue doesn't end after the introductions and proverbial or literal handshake.

3️⃣  After the intro conversation, guide your clients through the phases of the business you are handling for them or the transaction you are carrying out on their behalf.

Understanding your client is essential for providing exceptional service. It's crucial to take the time to learn about their industry, their goals, and their pain points. When you can demonstrate a deep understanding of their challenges and provide tailored solutions, you position yourself as a trusted advisor and a valuable resource. This level of understanding can only be achieved through active engagement and ongoing relationship-building efforts.

Building meaningful relationships with clients also leads to long-term loyalty. When clients feel valued and appreciated, they are more likely to remain loyal to your business and refer you to others. Word-of-mouth referrals are a powerful way to expand your client base and enhance your reputation. By going the extra mile to create a positive experience for your clients, you can foster a network of satisfied customers who become advocates for your brand.

Connecting with clients on a deeper level by establishing trust, fostering open communication, and understanding their unique needs is essential for any successful business. By investing time and effort in building meaningful relationships, you can create a solid foundation for growth, loyalty, and mutual success. Remember, it's not just about the transaction; it's about building lasting partnerships that stand the test of time.

We offer Customer Care Packages customized to put your clients at the forefront of your priority list!

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customer care

High-Touch Customer Care

Accountants, Accounting Firms, Business, Customer Care, Sales and Marketing, Social Media
customer care

High-Touch Customer Care

virtual assistant

Gary Vaynerchuk, serial entrepreneur and one of the most sought-after public speakers today, has stated that the best marketing strategy ever is to simply care, and high-touch marketing shows that you care.

Now imagine if you took that same marketing strategy and used it in your customer care program.

High Touch, as defined by yourdictionary.com, is dealing with or interacting with a human being as opposed to transacting with computers or high-tech.

High-touch customer care focuses on human interaction, dealing with or interacting with your clients as human beings in a personal and empathetic way using low-tech methods.

High-touch involves ensuring that you increase the human factor in all your client-facing efforts. Even though most of your business may be conducted online today, your customers still value social interaction, and because of this fact, high-touch methods can be the differentiator for your accounting firm.

As an Accountant or CPA, there is one thing that can set your business apart from the giant multinational corporate firms - the individual care you can give a client. You can offer a better experience to your clients because you understand their journey and how it relates to what you can offer them at that point in terms of service and education. By prioritizing a personalized approach, you can create an unrivaled customer experience that not only sets you apart from competitors but also fosters loyalty and trust and ultimately drives your bottom line.

High-touch consists of creating hyper-personalized experiences for your clients.

Clients value experiences today more than ever in the history of humans. The great thing is that you can do that more easily because, as a small Accounting firm, you are able to personalize the client experience, individually. The hard part is developing that experience, virtually.

Many Accountants and CPAs had to pivot to a virtual environment during the Covid-19 Pandemic, and, as a result, those online businesses and websites had a more attentive audience.  Now that restrictions have lifted and people are slowly returning to a life outside their home, and away from the computer, you want to be careful with how you nurture that audience; finding the correct balance to keeping their attention, without coming across as a used-car salesman.

Clients Want to Feel Special

The higher value client experience will translate into your customers feeling like VIPs.

When clients feel like very important people, they are more willing to pay more for that upgraded experience. People will pay for value, and feeling special makes them feel important.

By taking the time to listen, empathize, and engage with your customers truly, you demonstrate a genuine commitment to their satisfaction. This personalized approach not only enhances their overall experience but also builds a strong emotional connection, creating excitement and passion because they are getting more of what they really want from you, making them more likely to become brand advocates and repeat customers.

The most important marketing skill you have is to listen to your clients.

Really get to know your client.  Read all correspondence between your firm and the client. Take notes about their problems, issues, and happiness. Fill in the information in your client file as you discover it.

Using your client files, create a full profile for each of your top clients that include their name, demographics, family information, services they receive from you and potential areas of growth, communication history, social media profiles, websites, and more. The more information you can find that is relevant to your offerings, the better.

Do make sure to set a schedule for learning about your top clients, as doing this can be remarkably interesting but quite time-consuming.

Create personalized interactive communities for your VIP customers to join and really bring the conversation with your best clients to a new level. Bring your clients closer to you so that you can help them more and they can learn more. The more open you are, and the more they learn from you, the more likely they are going to stick around when you announce your price increases.

Another way to get to know your clients is through their websites.  Find their websites if they have them based on the information you can find in your system. If they do not have websites, that’s okay. You can find out information by who they follow on social media, and the sites they like to visit.

Social Media is Not a One-Way Virtual Street...

Friend/Follow their social media. Ensure that you follow or friend them based on the information they have given to you. If you discover that you do not have that much information on them, see if you can find them following you on your social media platforms so you can follow them back. If not, invite them to follow you so you can follow them back. Quick side note here - hiring a social media manager can greatly help with this task!!

High-touch customer care is using personalized marketing methods that provide a lot of human touchpoints and can easily be incorporated into your business model by:

More Segmentation – The more you can segment your audience, the better. Using the technology to break down your customers into smaller, more personalized groups will help you develop the right offers as well as content to market those offers.

Extreme Personalization – With extreme personalization, it can’t be automated. This is going to include doing things just for one client at a time. For example, sending a thank you note in the mail after they sign on.

Personal Phone Calls – Give your clients a call to thank them and offer your personal help. Most of the time, you’ll end up leaving a message, but they’ll still feel super special getting a call of thanks from you.

Relationship Building – Find out who your top ten clients are and focus on following them on social media and interacting with them more. You can also send surveys to incorporate technology in helping build the relationships closer.

Customized Packages and Offers – Develop a special offer that is just for your top ten. Talk to them and let them tell you what they want, then give it to them.

Ultimately, high-touch customer care is all about super personalized marketing that provides a way for you to include your unique human touch for your clients - all of them, not just the top ten.

Implementing high-touch customer care and personalized marketing strategies is truly a win-win for your business. By investing in these practices, you demonstrate your commitment to exceptional customer service, earning the trust and loyalty of your clientele. In return, your customers reward you with increased engagement, repeat business, and positive word-of-mouth referrals. Additionally, through personalized marketing, you optimize your marketing efforts, ensuring maximum impact and return on investment.

Wondering if you need a virtual assistant? Imagine if you could get rid of all the time-wasting tasks that clog up your schedule and just focus on what matters most to your business. Sounds good, right?

Contact me at Info@thetaskva.com for more information, or schedule a quick 15-minute chat.

Take our quiz and see if you need a helping hand.

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defining a virtual assistant

Getting the Help You Need Virtually

Bookkeeping, Business, Customer Care, Sales and Marketing, Social Media, Time Management, Virtual Assistant News
defining a virtual assistant

Getting the Help You Need Virtually

virtual assistant

In today's fast-paced business world, accountants and Certified Public Accountants (CPAs) often find themselves overwhelmed by a multitude of tasks. Keeping up with all of the routines can be difficult. There are fifty million things to accomplish in one day with too little time and too few people to help. However, with the rise of virtual assistance, they can now access a valuable resource that can alleviate their workload and enhance their overall efficiency.

When you need an extra helping hand, look to a virtual assistant.  Most VAs offer a variety of services, from administrative to technical to creative, and will advertise themselves in their area of expertise.  For example, some assistants will focus on designing websites for you and maintaining the website or database after completion.

One of the benefits of hiring a virtual assistant is cost savings.  They will work for you from their own home office; they are not employees, so you do not need to pay employee tax or benefits. Partnering with a VA allows you to pay for the work you need and not for idle time.  Simply put, if there is no work, you don't pay them.

Finding A Virtual Assistant

Finding a reliable virtual assistant begins with clearly defining your needs and expectations. Consider the specific tasks you want to delegate, such as data entry, bookkeeping, tax preparation, or client communication. Look for virtual assistants with a background in accounting or finance to ensure they possess the necessary skills and understanding of your industry.

You can find virtual assistants through reputable online platforms such as VANetworking, the VA industry's market leader since 2003, that connect businesses with skilled professionals. Take the time to review their profiles, read client testimonials, and assess their qualifications and experience. Conduct interviews to ensure a good fit and discuss their availability, communication methods, and work processes.

Pricing a Virtual Assistant

Pricing for virtual assistant services can vary depending on factors such as experience, skill level, and the complexity of tasks. Some virtual assistants charge an hourly rate, while others offer package deals or retainer-based pricing. Consider your budget and the value you expect from the virtual assistant's support. Keep in mind that investing in a skilled virtual assistant can lead to significant time savings and increased productivity.

Benefits of a Virtual Assistant

Short-term Benefits:

Quick Onboarding: Virtual assistants are experienced professionals who can adapt swiftly to new environments and tools. They require minimal training, allowing accountants and CPAs to experience immediate relief from their workload.

Cost Savings: Hiring full-time staff to handle temporary or seasonal tasks can be costly. Virtual assistants offer a cost-effective alternative, as they can be engaged on an as-needed basis, eliminating the need for long-term commitments or benefits packages.

Diverse Skill Set: Virtual assistants often possess a diverse skill set beyond basic accounting tasks. They can offer support in areas such as project management, marketing, research, or customer service, providing additional value to your business.

Long-term Benefits:

Time Savings: Virtual assistants can handle time-consuming tasks such as data entry, report generation, and document organization. By delegating these responsibilities, accountants and CPAs can free up valuable time to focus on core activities, such as financial analysis, strategic planning, and client consultations.

Enhanced Efficiency: Virtual assistants bring expertise and efficiency to repetitive tasks, ensuring accuracy and timely completion. They can assist with bookkeeping, reconciliations, and other administrative duties, reducing the risk of errors and allowing accountants to work with confidence.

Scalability: Virtual assistants provide a flexible solution, allowing businesses to scale their support according to workload fluctuations. During peak periods, such as tax season, virtual assistants can handle the increased demands, preventing overload and burnout among the accounting team.

Incorporating a virtual assistant into the workflow of busy accountants and CPAs can significantly improve productivity, efficiency, and work-life balance. By carefully selecting a virtual assistant with accounting expertise and considering pricing structures, accountants can unlock long-term benefits such as time savings, enhanced efficiency, and scalability. Additionally, the short-term advantages of quick onboarding, cost savings, and a diverse skill set make virtual assistants a valuable resource for accounting professionals seeking to optimize their operations in today's digital age.

Have questions? I'm here to help! Set up a NO OBLIGATION, and TOTALLY FREE call to discover the possibilities!

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Accountants Ethical Behavior

3 Essential Ethical Behaviors for Accountants

Accountants, Accounting Firms, Business
Accountants Ethical Behavior

3 Essential Ethical Behaviors for Accountants

virtual assistant

As an accountant, it's crucial to maintain a high level of ethical behavior. After all, you're dealing with sensitive financial information, and your clients rely on you to keep that information confidential.

One of the most important ethical principles for accountants is integrity, meaning honesty and transparency in all your dealings and not engaging in deceptive or misleading behavior.

As an accountant, it is your responsibility to ensure that financial reports accurately reflect your client's financial situation. Therefore, presenting financial information accurately and completely without intentional or unintentional misrepresentations is vital.

Another critical ethical principle for accountants is objectivity. You must remain impartial and avoid any conflicts of interest. For example, having a personal and financial relationship with a client could create a conflict of interest that compromises your objectivity. In such cases, it's essential to disclose the conflict of interest to your client and take steps to manage it appropriately. Do not let personal or financial relationships influence your work; always remain objective when advising your clients.

Confidentiality is also essential for accountants. You must keep all client information confidential and not disclose it to anyone without the client's express permission. This includes not sharing information with colleagues, friends, or family members.

Similarly, if you encounter a situation where you suspect fraud or other illegal activities, it is not only essential to report it promptly to the appropriate authorities; it is your legal obligation. Failure to do so could compromise your ethical responsibilities and expose you to legal liability.

As an accountant, you must always comply with the law and regulations. Therefore, you should keep up-to-date with any changes in legislation and ensure that your clients follow all the necessary rules and regulations.

It's worth noting that ethical dilemmas in accounting can sometimes be complex and challenging to navigate. In such cases, seeking guidance from a professional organization, such as the American Institute of Certified Public Accountants (AICPA), can be helpful.

Lastly, remember that ethics extend beyond your office walls. As an accountant, you represent the accounting profession, and your behavior can have a broader impact on its reputation. So, behave ethically at work and in your personal life.

Just remember, ethics are a critical component of being an accountant, and maintaining a high level of ethical behavior ensures that you build trust with your clients and uphold the integrity of the accounting profession.

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planning success

Client Management Through Daily Planning & Organization

Accountants, Accounting Firms, Bookkeeping, Business, Customer Care, Goals and Business Planning, Helpful Tips, Time Management
planning success

Client Management Through Daily Planning & Organization

virtual assistant
What do client management and daily planning have in common? For starters, they are two essential skills for any business professional. When done well, these activities can help you stay organized and on top of your work.
Effective client management is essential for ensuring successful productivity. To make sure all of your clients get the attention they deserve, here are some effective strategies you can use for daily planning & organization. Doing this will help you maximize your productivity and ensure swift service to all your clients.

 

Strategy 1: Establish Clear Goals and Objectives for Each Client

Establishing clear goals and objectives with each client is an important step in building a successful client relationship. Having clearly defined goals ensures that everyone is on the same page and helps to ensure that the project runs smoothly from start to finish. It also allows you to measure progress and success, as well as identify areas for improvement. By setting specific goals with your clients, you can help them achieve their desired outcomes in a timely manner. Furthermore, it will help you build trust with your clients and ensure that they are satisfied with the services provided.

 

Strategy 2: Use Automation to Your Advantage, Make Your Job Easier

Automated systems can be extremely beneficial for tracking client progress and scheduling appointments. With the help of a calendar app for clients, digital appointment scheduler, and workflow automation software, businesses can save time and money while providing better customer service. Automation also eliminates manual tasks that are time-consuming and prone to human error. By automating these processes, businesses can focus on more important tasks, such as creating content or marketing strategies. Automated systems also allow businesses to track client progress in real time, which helps them make informed decisions quickly. Additionally, automated systems provide an efficient way to schedule appointments with clients without any hassle or confusion.

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Strategy 3: Stay Organized With Technology

Staying organized is essential for productivity and success. Setting priorities and utilizing technology are two of the best practices to help you stay organized. With the right task list manager app, you can easily create and manage tasks, prioritize them using various task prioritization methodologies, and track your progress. This will help you stay focused on what’s important and ensure that you don’t miss any deadlines or important tasks. By utilizing technology in this way, you can make sure that your daily tasks are completed on time and that you remain organized throughout the day.

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success

Get Out Of Your Head For Success

Business, Helpful Tips, Virtual Assistant News
success

Get Out Of Your Head For Success

virtual assistant

Success in business stems from success in other areas of your life. You can’t really succeed to the extent that you would like to financially without making sure you’re up to par in other parts of your life, such as your mental state and physical fitness.

By keeping up with those parts as well, you’ll be much more well-rounded and able to succeed so much easier. Mental wellness is a very important aspect of your life and it’s extremely important for your success.

Mental health, for many years, was overlooked and not seen as a priority. A new term has emerged in recent years: “high functioning anxiety.” Although it is not yet a mental health diagnosis, it helps to describe something so many are experiencing. It has been shown that mental health is extremely important and is directly linked with your success in life.

You can’t go far in life when you’re struggling with things like anxiety because you’ll always be in your own head and unable to make the advancements you need for success. In her book, The Happier Approach, Nancy Jane Smith, walks people through how to get out of their head and into their body. Shifting your focus is sometimes just what you need!

In order to have a healthy mind, you need to give yourself time to relax and decompress, because, if you’re crowding your life with all work all the time, you’re going to get burnt out and start to dislike the job you’re doing. If you don’t enjoy what you do, it’s going to go downhill fast. You’ll put in less and less effort and you’ll never attain that success that you want.

Just as your mental well-being is important, so is your physical health.

Good physical health allows you to wake up each day feeling refreshed and ready to go, something that’s very important for your happiness and for your success. Being physically active and fit is good for your health, and it also helps you find happiness more frequently.

Keeping your body hydrated, properly nourished, and challenging yourself physically are the best ways to keep you in top physical health. I can hear you saying “but I don’t have time to workout”. Guess what, you really do have the time, you just need to find it.

“Workout, workout as hard as you can, and workout without excuses nor apologies. The discipline of tough physical training is obviously great for mental and physical strength, but over time, it also instills many more important lessons in a gradual and subtle progression. … It is the sheer effort but also the rest, nutrition and focus. These same skills, that are so important to our business and personal life, cannot become better engrained than through challenging training." --Itay Rosenfeld, CEO of Voxbone, a provider of Communications-as-a-Service (CaaS)

Without a healthy mental state and physical fitness, life can become a bit stale. Tracking progress in both of these categories is crucial. When you’re journaling or making notes about your day, talk about things that you’ve done to better your physical and mental health and be specific.

By keeping notes on your progress, you can tweak your methods in order to have better results, especially after seeing what worked for you and what didn’t. Everyone has different needs, so what might work for one person might not work for you. Find your balance.

Remember, as tempting as it is to only focus on success, you need to focus on all aspects of your life in order to truly be successful,. Take a look at  33 Daily Habits, which gives you simple, daily habits of successful entrepreneurs. There’s no fun in being financially well-off if you’re depressed and out of shape.

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tax prep

Hire a Tax Preparer or Go It Alone?

Bookkeeping, Business, Income Tax Preparation
tax prep

Hire a Tax Preparer or Go It Alone?

virtual assistant

Albert Einstein once said, "The hardest thing in the world to understand is the income tax".

But more and more people are making the move to doing their taxes at home. With programs like 1040.com andFreeTaxUSA available, the process can be simplified and the refund swift in coming. However, going it alone is not always the wisest or most cost-efficient choice.

Let’s weigh some of the key factors in determining whether you should go it alone, or enlist the aid of a professional tax preparer.

Is it worth your time?
For the self-employed, it may be more advantageous to enlist the services of a professional tax preparer or Certified Public Accountant (CPA). Doing your own taxes, especially those related to a business, takes time. And, time is money.

Do you have the knowledge to glean all of the tax-related benefits involved in owning your own business?
Being self-employed may just be one of the greatest tax strategies of our time. As a self-employed individual, you are in control of your taxable income. With the right know-how, you can fully control how much tax you pay. In fact, there are many tax advantages to being self-employed, and, oftentimes, a professional can find tax savings and deductions related to your business that you may have otherwise overlooked.

Ultimately, for the self-employed, it’s a matter of weighing the cost against the advantages of hiring a professional. Keep in mind, however, hiring a professional can often result in tax savings that more than make up for the cost of the service.

What if you aren’t self-employed? What if you are filing for yourself or your family?
In this case, it may be worthwhile to consider going it alone. Programs like 1040.com make it easier for you and will walk you through the process step-by-step and often make receiving your refund a simple and expedient process.

Above all else, though, the best rule of thumb to follow in either situation is to trust yourself. Base your decision on whichever route gives you the most peace of mind. If you are comfortable completing the tax forms and utilizing the programs available for going it on your own, then this may be the best route for you. If however, you have any doubts or concerns, your best bet may be to hire a professional tax preparer.

Whatever you decide, download our Tax Preparation Guide and Checklist to help you better prepare.Tax Planner

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strategic planning, goal setting

Your Complete Guide to Strategic Task Lists

Business, Goals and Business Planning, Strategic Thinking, Time Management
strategic planning, goal setting

Your Complete Guide To Strategic Task Lists

virtual assistant

Here’s the honest truth for entrepreneurs - your task list will NEVER be complete. There will always be more to do! So how can you manage everything without tasks or projects slipping through the cracks? Use strategic task lists.

Why You Should Use a Strategic Task List

A strategic task list is a list of tasks that can help you achieve your goals. It is a tool that can help you stay organized and focused on what you need to accomplish. It can be used for a variety of purposes and is one of the strongest time-management tools you can have in your arsenal.

Strategic Planning:

Use the list to organize your thoughts and plan out your agenda for the day or week with each item representing an action or project you want to complete.

Goal Setting:

The tasks on the list are those things that support your goals, making it easier to remember what needs to be accomplished in order to reach them.

Resource Management:

This type of task list is often used by people who need reminders about what’s happening at work so they know which meetings they need to attend, identify gaps, and maximize capacity.

Change Your Strategy by Having a Strategic Task List

If you have a task list, you are more likely to complete it within time limits which will lead you to accomplish your goals faster.

With a written strategic task list, you are less likely to be derailed or distracted by small tasks that may not seem urgent but actually are urgent. Being able to identify what needs immediate attention is important for an organization’s success.

When there is clarity about what needs to be accomplished time gaps are eliminated and you achieve maximum productivity levels.

Create the Perfect Strategic Task List

Creating the perfect strategic task is easier than you might think. Following these simple steps will ensure that your task list is effective:

First, do a brain dump! Using a pen and paper, set a timer for 15 minutes. Write down EVERYTHING that you need to do - business and personal. Do not assign deadlines, edit or prioritize yet. When the timer goes off, try to go for another 5 minutes.

Next, prioritize the tasks using the time management matrix:

Urgent + Important: Must do tasks with a clear deadline such as paying taxes, paying bills, completing work on a deadline. If this isn’t done - there is a clear consequence!

Urgent + NOT Important: Time-sensitive tasks that should get done such as replying to your emails, client communication, working with your team. This is an excellent area to automate and systemize.

NOT Urgent + NOT Important: These are tricky tasks because these are the ‘should do’ tasks we say yes to without determining if they really help us reach our goals. Learn to say NO to these tasks. Outsource to another to handle this area.

NOT Urgent + IMPORTANT: This is where you want to play! Focus your time and energy on important revenue-generating tasks such as marketing, sales, or developing new revenue streams.
Many of the tasks should be based on your goals. I find it helpful to keep a printed copy of my goals on my desk, usually in my day planner, for quick reference.

Finally, check your daily task list at night and prioritize the remaining tasks based on what you should be working on first. Create a fresh list every morning pulling forward the unfinished tasks from the day before.

It is important for any organization to have a strategic task list. Whether your company has 1 employee or 100 employees, using strategic lists will help them understand the steps needed to reach the end goal and thus, provide stability and consistency in your strategy.

It is important for any organization to have a strategic task list. Whether your company has 1 employee or 100 employees, using strategic lists will help them understand the steps needed to reach the end goal and thus, provide stability and consistency in your strategy.

To help you get started with your strategic goal planning, grab this FREE Goal Planner:

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smart goals

Are You Realistic About Your Goals?

Business, Goals and Business Planning, Strategic Thinking
smart goals

Are Your Realistic About Your Goals?

virtual assistant

People often struggle in both life and business with the process of goal-setting—more than likely, you’ve read a lot about creating SMART goals. SMART is an acronym for: specific, measurable, attainable, realistic, and timely. SMART goals give direction and focus to your efforts. If your goal is without focus, or if you are unable to tell if it's working, odds are you'll be wasting time.

Let's Be Clear

If there’s one thing that keeps people stuck, it’s a lack of clarity.

You know you want to quit your soul-sucking day job in favor of the freedom of self-employment, but you aren’t clear on the steps to take. You want to take an exotic vacation, but you aren’t sure where to go—or how to make it happen. You want to grow your business but aren’t even sure what that means.

The truth is, with ambiguous “goals” such as these, in five or ten years, you’ll still be right where you’re at today. But with a little clarity, you can achieve any goal you can conceive. The first step is simple, visualize what you want.

Start With A Vision

A vision board is a planning tool that allows you to unleash your creativity and daydream in a tangible format. Vision boards can serve to keep you inspired when boredom strikes and remind you of why you’re working so hard when all you want to do is take a nap. Best of all, creating a vision board is easy—and fun!

Start by collecting images that represent your biggest goals. Gather pictures from magazines, photos from a favorite vacation, ads of products you want to have. I had a postcard from the New Yorker hotel I used to keep pinned on a board above my desk. I looked at it every day and knew I would be there one day. Four months later, I accepted a position at a start-up company in New York City!

Use images, graphics, photos that express what you want. Dollar signs, or a specific figure, to represent your desired bank account balance. Phrases and quotes that inspire you. Add it all to your new vision board.

Your vision board is a living document. Your dreams and goals will change. Some you will achieve and remove from your board to make room for bigger and better dreams. Some you will decide no longer matter, and you’ll trade them for some others. It’s your vision, and it’s entirely up to you what dreams you choose to follow.

Keep your vision board within sight; you’ll be better able to focus on the steps necessary to reach your goals. I keep mine hanging on my wall directly opposite my bed. It’s the first thing I see in the morning and the last thing I see before going to sleep.

Now, Create Your Goals

Using your vision board as your roadmap, create three SMART business goals and at least two SMART personal development goals. Quantitate each goal and include a deadline date. Write your goals out and keep them visible. If this is not feasible, make sure they are easily accessible.

Keep It Real

It’s fun to fantasize about becoming a millionaire or making a high six-figure salary while sitting on the beach. The problem with this is that it’s just not that realistic. It’s not to say that no one has ever done it, but more than likely, they already had tons of resources like money and contacts that allowed them to delegate while they were lying on the beach.

When you come up with a figure or a measure for your goal to track, you want the number to be realistic and not just pulled out of thin air.

To be accurate and realistic about how much you can earn, you need to figure out the order of operations at your business.  How many hours will you have available for clients, and how many hours will be set aside for business administration? A typical 40-hour workweek will probably give you four or five hours billable in a day, and the rest of the time, you’ll need to work on marketing and other aspects of your business. If your billable rate is $40 an hour, that will provide a gross income of $1,000/week. Reduce that by business expenses and personal draw to reach your net income. Will that be enough to sustain and grow your business?

Perhaps you can find other ways to increase your billable hours, such as outsourcing or hiring full-time employees. The main thing is that you should not leave these numbers to chance. Design your entire day and determine what is realistic for your goals in each case. Don’t just pull a number out of the air. Think about the number and how it can happen or not happen before you put it in writing.

Personally Speaking

Use the same process for your personal development goals. Think about what skills you want to improve; how long will it take to develop? Are there classes you can take? A good freelance education source is Freelance University. You can find any skill development course in their extensive library. Now, create a SMART goal. For example, perhaps you want to become more efficient with Excel to maintain your financial plan or even automate some of your tasks. You could write, “By March 1 (or any date you choose), take an Excel course to increase efficiency with some of my business administration tasks.”

Review Your Goals

Now that you’ve taken the time to create some fantastic goals set up a schedule to evaluate your goals. I suggest reviewing your goals quarterly at a minimum. Assess where you are, is the goal progressing as anticipated; are you on track to complete as stated? Make any necessary alterations and note why the changes are required.

Planning and working towards your goals should not be a source of stress if you remember to think about what you want and how you will get there. This step helps clarify expectations and ensures that the goal is SMART and worthwhile.

To help you get started with your strategic goal planning, grab this FREE Goal Planner:

Goals planning

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TIME MANAGEMENT

Effective Daily Planning: Getting Things Done

Accountants, Accounting Firms, Business, Goals and Business Planning, Helpful Tips, Time Management
TIME MANAGEMENT

Effective Daily Planning: Getting Things Done

virtual assistant

It's no secret that the world is a fast-paced place. We're constantly inundated with new information, technology, and change. For many Accountants and CPAs, this pace can be overwhelming. If you don't take the time to plan your days, you can easily lose focus and become less productive. This can lead to even more stress and anxiety as you try to play catch-up.

Not planning your day can lead to missed opportunities and goals and can hurt your client relationships.

Learning to be more productive in your everyday life is important to combat this. And while there are many different ways to increase productivity, one of the most important is learning how to effectively plan out each day.

First, you must define what "done" means to you and your staff if planning their day. Knowing your "done" will help you plan realistically (and stop when it's 'done' – no perfectionism allowed). This may mean setting a daily or weekly goal for what you want to achieve. For example, if your goal is to complete your continuing education plan, "done" could mean completing two hours daily. If your goal is to engage more with your followers on social media, "done" could mean posting and interacting three times a week. Once you clearly understand what "done" looks like, you can start to really plan your days.

Next, you must decide what end results would make the day a success for you and your team. This will help you focus on what's truly important and let go of anything that isn't. This step involves really thinking about what you want and need to achieve. If you don't know what results you want, it's pretty hard to plan your day effectively!

The next step is to break down those desired results into tasks - the actions you need to take to make the day a success. Be mindful of what you choose to prioritize, you don't want to waste time doing tasks that won't help you achieve your daily goals. This is also a great time to note any tasks that you can delegate to your virtual assistant to lighten your load.

Planning and Preparing

Now that you've decided what "done" looks like, selected your goals for the day, and broken them down into tasks, it's time to start planning and preparing.

What does that look like? For many, it involves planning out times throughout the day for specific prioritized tasks. Start with the most important tasks first.

Part of the planning process also involves preparing. Ensuring you have all the necessary resources is an important piece of the productivity puzzle. Try sketching out a general plan for the week in advance and list the resources you need to obtain or access for each task. Especially if it’s something you need from someone else or if you need to provide it to a staff member so they can do their task. Preparing in advance allows time for you to get all of those things together.

Another part of the process is to plan ahead. Use a weekly or monthly planner in addition to the daily plan. Planning ahead allows you to allocate your time appropriately to achieve your goals. If you want to complete a large number of work tasks, but you also have several doctor appointments, meetings, kids’ activities, etc., scheduled that week, you’ll quickly see that you do not have as much time as you thought and you can prioritize tasks accordingly.

Bonus tip:  Publishing the company's weekly or monthly plan also helps your staff better plan their day!

You can also use productivity technology that's available to you to make your tasks easier. Many tools are available today that can automate processes or at least make them simpler or faster to complete. Digital planners, Google Calendar, productivity apps, AI tools, scheduling tools, etc., are all technology resources you can utilize to make your life (and work!) easier. Don’t get so caught up in finding the “perfect” technology to use either – the best tools are the ones you will use consistently.

If you are not as productive as you think you should be or if your staff hangs out more at the water cooler, using a strategy like the ones shared above can be an excellent way to get things done by focusing on the goals and tasks most important to your accounting firm.  And finally, check your plans often to ensure they match your goals and adjust when necessary. What works in the summer months may not be realistic during Tax season. 

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cybersecurity

Anatomy of a Data Breach

Accountants, Accounting Firms, Business, Cybersecurity, Helpful Tips, Online Security, Tech and Security
cybersecurity

Anatomy of a Data Breach

virtual assistant

Arguably no phrase has dominated the tech world in the last 24 months more than the term "data breach." The past two years have been saturated by headlines of cybersecurity mishaps, from breaches that have impacted critical infrastructure like the Colonial Pipeline to hackers compromising healthcare records at UC San Diego Health. Yet, despite the prevalence of the breach-centric news cycle, many everyday individuals may not know what a data breach is, how they typically start, and why they occur.

According to IBM, the average time it takes to identify that a breach has occurred is 287 days, with the average time to contain a breach clocking in at 80 days. And with 81% of businesses experiencing a cyberattack during COVID, individuals must be familiar with the anatomy of a data breach to keep their data and their client's data safe.

With that in mind, here is some helpful background on data breaches and why they are so problematic.

What is a data breach? 

While it may seem complex, a data breach is straightforward to explain once you clear away the jargon fog. According to Trend Micro, a data breach is "an incident where information is stolen or taken from a system without the knowledge or authorization of the system's owner." And while data breaches can result from a system or human error, a vast majority of data breaches result from cyber attacks, where a cybercriminal gains unlawful access to sensitive system data. For example, 92% of the data breaches in Q1 2022 resulted from cyberattacks.

What kind of data can be breached?

Unfortunately, cybercriminals look to get their hands on any information they can, ranging from more sensitive information such as social security numbers and credit card information to more obscure data like past purchase history.

What are some of the tactics used to execute data breaches?

Cybercrime is getting more sophisticated each day. However, cyberattack tactics do not have to be cutting-edge or advanced to be effective. Here are a few examples of popular tactics used by cybercriminals:

  • Phishing: Phishing is when a cybercriminal pretends to be a legitimate party in hopes of tricking an individual into giving them access to personal information. Phishing is one of the oldest tricks in the book for cybercriminals, but it is just as effective as ever. For example, 80% of security incidents and 90% of data breaches stem from phishing attempts.
  • Malware: Another tried-and-true method for cybercriminals is malware. Malware is malicious software that secretly installs itself on devices – often by a user engaging with fake links and content – and quietly gains access to the data on an individual's device or a business network.
  • Password Attack: Through password attacks, cybercriminals seek access to sensitive data and networks by "cracking" user passwords and using these credentials to get into networks and extract data from a given network.

The best way to stop a data breach is to stop it before it even starts. This includes taking steps from making sure passwords are long and complex to reporting all suspicious emails. If you suspect you have been the victim of a breach, immediately contact your IT department or device provider to notify them and follow subsequent protocols to help them scan, detect, and remediate any issues.                                      

For more information on protecting your data, your client’s and your family, visit our Cybersecurity page.

#BeCyberSmart

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