Business Feedback

So I am going to be taking over the firm I’m working for shortly. I was thinking about using the off season to contact the business clients that we do monthly services for and ask them where we may not be meeting expectations and if there is anything that they would like to see us change. I thought about creating a similar opportunity for the tax clients next year. Has anyone done this and what was your process to do so?

I have only done this once in my business after purchasing another accountant's practice and the results were mixed and not particularly helpful. I did not learn anything new. The problem clients gave the same feedback that I expected and the smooth running folks told me to keep up the good work.

What I have found particularly useful is to carefully listen to the concerns of clients as I am preparing the returns. For example this tax season due to COVID restrictions I got an earful from certain clients who really wanted a face to face meeting like good old times and did not particularly care for virtual meetings. I also observed that some folks were challenged to upload their tax documents not because the site was difficult but they did not own a scanner and taking pictures with a cell phone of a tax/legal document is really not what that was designed for. So in my operation, I keep those factors in perspective.

So you can try, just for your own experience.

What I have found particularly useful is to carefully listen to the concerns of clients as I am preparing the returns.

This is exactly what I do. I actually say, "what are your tax concerns, I'm ready to listen".

For the rest of the year, I just try to be a great "go-to" resource by answering questions, handling problems, and providing solutions.

I also make it a point to be as friendly, responsive, and positive as I can be - and I try to keep my head when things go wrong, clients are unhappy, or when I am upset with them.

I would not suggest reaching out - I would simply provide your own great service.

Several years ago, at my prior (bigger) firm, I made it a point to reach out to about a dozen business clients and simply ask the question "What can we do better?". These were folks that were either significant or that I suspected had greater needs than we were servicing.
I explained that, like all businesses, I wanted to ensure there were no needs going unmet that I could help to meet. With some, I tossed in the phrase "you don't know until you ask" to ensure they didn't feel like I was just there solely to drum up business. I was trying to grow my business, but I wasn't there selling anything specifically. I was trying to ensure I knew their needs.
Some of these conversations allowed me to share my network and make a connection or two, which was helpful to them and they were grateful for. This didn't result in any billable work, but I deepened the relationship with these folks and that is valuable in and of itself.
One conversation, however, uncovered the fact that they felt as though they were meaningfully underserved. What I expected to be a 1hr chat ended up being a 2hr gripe session. They were very close to leaving our firm.
I listened, acknowledged their perspective, and asked good questions. Many of their issues were valid. This was part of why they were on my list to begin with. I had a suspicion we could do more, but I didn't know whether they would value it. I learned they would.
In the years after, they became my single biggest client with fees in excess of $50K/yr.
With this experience in hand, I would strongly disagree with anyone saying you shouldn't be proactive in reaching out and connecting with clients in this manner.

I would strongly disagree with anyone saying you shouldn't be proactive in reaching out and connecting with clients in this manner.

Different strokes for different folks If it works in your practice more power to you.

holy crap. $50k/year? what do you do for them? i'm guessing that's not just kicking out a 1040 and a corporate return.

holy crap. $50k/year? what do you do for them? i'm guessing that's not just kicking out a 1040 and a corporate return.

Full outsourced accounting function, tax return/consulting/planning, and strategic planning.

I think the Captain's apples are different from ATS' and my oranges.

First, of course we should always be humble to listening to client concerns...

With that said, on one hand, when you intentionally keep your scope extremely narrow, you are "relieved" when a client seeks help elsewhere because you are not willing or able to meet their expectations - which should have been mostly discussed prior to engagement. I don't see how reaching out to clients in this manner will help....

Me, " how can I help you better"? Client, "you can write the paychecks to my employees". Me, "thanks for your feedback, but we can't do that. Anything else I can not help you with?"

On the other hand, when you have the experience and resources to provide premium peripheral services at a tasty price, then of course you should ask all of your clients if you can better help them by expanding the engagement.

So for the OP, I would say that if you are not willing or able to modify your services to better meet expectations, then it probably does no good to ask. If you can change your services or level of services, however, then it likely pays to ask.

If you ask an open ended question, don't be surprised by the answer and if you have already set the expectation that you will deliver and you fall short you got egg on your face

I would rather under promise and over deliver

So for the OP, I would say that if you are not willing or able to modify your services to better meet expectations, then it probably does no good to ask.

I still don't think this is the best approach. There are many services I don't provide: Wealth management, legal advice, insurance, among others. There are also folks for which I am not a good fit for some services, while I may continue to be a good fit for tax return prep or other "core" services. It is valuable to be a sounding board and know your client's pain points even if you aren't the solution. You might know a solution and pointing the business owner in that direction is valuable.
Above all, I want to be my client's first phone call when they have a problem. That ensures I get the first crack at a solution. Being proactive about asking where their pain points lie will help to ensure you aren't one of them.

What is OP to do about all the 2848s' on file with the CAF Unit of the IRS?
Tax Prep is followed by Tax Representation.