New Year Resolutions

By

C.A. N.K. Jain Happy New Year :2010

Resolution No. 1:

I will take atleast 1 week long holiday

You should take atleast 1 week long holiday i.e. from 1st Jan. 2010 to until you release the stress of the long and busy schedule of Audits and Time Barring Scrutiny AssessmentThis will keep you fresh and energetic for the entire year 2010This will also make your family happierDon’t forget to inform the world that you are out of town for an important assignment.

I shall keep updated myself thoroughly on subjects related to my practice by way of :

Resolution No. 2:

Attend CPE meeting at least 3 hours every month

Have good number of books in my Book Shelf

Spend Sufficient Time for Reading

Keep surfing the related Websites Join the Web Group Become speaker or writer (This is the best way of marketing

your services)

I shall maintain daily and weekly diary with hourly appointment and maintain punctuality

The first appointment for 2010 shall be a date after you come back from your important assignment as per Resolution No. 1

Delegate the work and write in the diary for follow-up

On returning the original papers or important Documents to the Client take acknowledgement in the diary

Answer E mails as early as possible preferably within 24 hours

Resolution No. 3

I shall double my fees structure across the Board:

Demand for CA’s Services has grown in past few years to more than double

Resolution No. 4:

Salary range of members in Corporate sector has grown more than double

Cost of services have been more than doubled:

Just Check your : Electricity BillConveyance BillStaff SalaryTelephone Bills Computer related expenses and compare with 2 year old bills and will find the reason

Cost of office or prevailing lease value is more than double

Just simply double your fees.

It is tested and guaranteed approach by which your revenue will grow at least by 60%. Without the risk of loosing clients

Resolution No. 5:

I shall not provide free lunch

Always charge and bill for every service you provide and for any time spent for client.

Don’t Forget to charge for any Adjournment, meeting with clients for any discussion (whether in your office or client’s office), meeting with other professionals, making or signing provisional balance sheet, issuing ant certificate, signing certified true copies etc.

Resolution No. 6:

I shall not give any opinion or advice on telephone

Always ask your clients to send their query by e-mail or fax and reply the query along with bill

Some of the Excuses which you can use for not replying on phone: Driving, Visitors are sitting before me, I am sitting in deptt, I am in meeting, I am having Lunch etc young members can use some different excuses also

This will save your time and increase your top line as well as bottom line

Resolution No. 7:

I shall dump the clients who are not up to the mark in terms of:

Payment of fee (timely and value of services)

Maintenance of Records ( it will save your time and risk)

Famous Peter Drucker’s Theory of 80:20 says your 80 % of Fees will come from 20 % of clients

Resolution No. 8:

I shall not make client as my friend and friend as my client

This way you can save your client as well as your friend

Resolution No. 9:

I shall plan my work and shall not wait for last month for audits and filing of Returns

Plan your work in such a way that you don’t have to do late night working as well

Do not work on Saturday. Keep it Free for learning or enjoying

Resolution No. 10:

I shall plan strategic Networking and Merger

To increase firm’s capacity

Resolution No. 11:

I shall REMEMBER & IMPLEMENT the above resolutions

We have the tendency to forget all the good lessons. Therefore, more often than not we end up making the wrong decisions.

Make sure that you read the above resolutions before every assignment. Follow the above resolutions for 2010 and see the difference for yourself.

Here’s wishing you all a very happy and ‘profitable’ 2010.