Many firms will determine—either now or right after tax season—that a merger is a top priority.
Whether your firm will be the successor or the acquired, pay attention to these very important reminders to be sure this tax season positions you for success with M&A, so you will be ready immediately following the busy season.
Get your data stack in order. Know what kinds of data will facilitate deal-making, and be sure you are generating and tracking it accurately during tax season.
Upscale engagement profitability. Leaving money on the table during your busiest time is not a positive sign, no matter whether you aim to be a buyer or a seller. Bolster your margins and be deliberate about culling clients that don’t belong.
Heighten attention for the "A” clients. You want happy "A" clients, and lots of them. All parties need to be sure that the "A" clients remain loyal and exceptionally satisfied.
Expand your team satisfaction experience through empowerment. Giving your team a strong say in deadline management, priority enforcement, and client accountability will enhance their business mindset and strengthen their allegiance to your firm. All parties to the deal will want a highly coordinated army and engaged team. A strong level of staff continuity is becoming an imperative to deals.
M&A is always about Money & Advantage. And Data, Profits, Process, Loyalty, and Potential are all fundamentals to demonstrate your Money & Advantage. Using this tax season to focus on these four factors will help you be well-positioned for post-tax season M&A.
Think of this tax season as a valuable opportunity to strengthen your competitive advantage. The work you put in now will yield greater rewards at the deal table.
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