The Power of Positioning

I once read where a pediatric dentist decided to break away from the group practice he was in and set off on his own. He secured an office space in the business district of a large Midwestern city and proceeded to hang out his shingle.

But after six months the flow of patients wasn’t anywhere where he thought it would be at that point. So he had a friend who happened to be in marketing come in and analyze the problem.

It wasn’t long before the marketer discovered why young patients weren’t flocking in. And in truth it was his own child who pointed out that it wasn’t a fun place. Truth be told, the youngster was spot on. The office décor was geared toward adults – nothing was at a child’s eye level or interest, so the office to a youngster looked like every other medical facility their parents went to and dragged them along. Once he began refurbishing his space with eye-catching scenery and added children’s toys and games, his practice soon flourished.

Sometimes little changes can spell the difference between whether your business or for that matter CPA firm, can drive new business or not. It’s a given that the two most frequently overlooked parts of any business and often the victims of cost-cutting measures are marketing and training. And in truth those are two areas that should NEVER be downsized or eliminated.

What do you mean I can’t deduct that?

This weekend I made my annual pilgrimage to see Rocco, my trusted tax preparer since 1990. I’m convinced that he is a real-life version of Dorian Gray, as he, at least in my eyes, has aged almost imperceptibly over the past 27 years. Although he claims that the new tax law changes enacted under the Trump Administration has increased his number of gray hairs exponentially.

After ranting for a half-hour on the byzantine guidelines he now has to follow as a result, he assured me that my return won’t be any more complicated than in years past, as I didn’t have any unusual deductions.

So as I do every year at this time I did some research on some of last year’s most outrageous attempts at tax deductions and subsequent rejections by Uncle Sam. Here’s but a few of my admitted favorites.

The CPA advertising battle for your mind

Harkening back more years than I probably want to remember, I arrived in Denver anxious to begin my college experience. It was my first trip to the Mile High City and after one of the hottest summers on record in New York it was a welcome relief to experience the refreshing atmosphere of the Southwest.

Strangely, one of the first things that struck me was the difference between the two cities in the quality of advertising – whether on television, radio or print. Coming from the literal heartbeat of advertising – Madison Avenue – the commercials in Colorado seemed humorously amateurish including one – and I kid you not - for a used car lot run by a man who went by the moniker “Honest Ira.”