Feb 11, 2021
Tech led the markets in 2020, and without that sector, the
S&P and DOW would likely have been flat or down. Roland sees
tech as continuing to be strong in 2021, in particular areas like
software as a service, the internet of things, augmented and
virtual reality, as well as tech enablement.
- There will also be several lasting changes as a result of Covid
because of the increased rate of adoption of technologies that
became a requirement to conduct business.
- We are going to see less of a budget for fulfillment, content
delivery, and meetings. We’ll also see a reduction in travel
expenses as meeting people and having conversations via Zoom
becomes the standard.
- As a service provider, it’s going to be important to be able to
deliver your services by embracing the technologies that your
customers have been forced to adopt. You need to be on board with
the evolution of how we are doing business or you will lose out to
competitors that are.
- If you can humanize the existing tech experience within the tax
resolution space it will be a major advantage.
- New platforms are always coming up. Clubhouse went from 3500
members at the beginning of 2020 to 1 million at the end of 2020.
It’s important to be on places like Clubhouse, TikTok, Instagram,
YouTube, and platforms like them even if it’s not a lead source for
your business. The credibility of meeting your customers where they
are and joining the conversation is going to be very important for
the growth of practices going forward.
- Technology platforms can be even better than meeting clients in
real life because it’s easier to control the environment. Instead
of the standard presentation, platforms like Zoom can go beyond
- Building a studio or investing in some basic equipment can take
your ability to create virtual events to the next level, and if
used well can pay off handsomely.
- In 2020, Roland closed over $2 million in sales at a completely
virtual event by using Zoom breakout rooms.
- Hospitality will make a comeback in the future but it will
require those businesses to increase the level of their service, if
they don’t it’s not likely that they will survive.
- Tax practices are notorious for not communicating with their
clients. It’s crucial to keep the lines of communication open and a
lot of practices are starting to realize this.
- Not only should you be communicating, but you should be
communicating to start a conversation so that you create an
interaction that can lead to a sale. Breathe some personality into
your communications and that can lead to generating 2x-3x the
- Measuring your Net Promoter Score and Customer Satisfaction is
very valuable information that businesses should be paying
attention to. If you’re open to it, that information can reveal
where your business is falling short.
- An existing customer is worth 9 times more than a new customer,
if you’re not focused on your existing customers you’re missing a
huge opportunity. The magic is the people already within your
- Get someone to do your content for you, but answer all your
- You must take massive action if you want to see big
Mentioned in this episode:
Michael Rozbruch's Tax & Business Solutions
Roland Frasier's Business Lunch Podcast - businesslunchpodcast.com
Roland Frasier's YouTube Channel - youtube.com/channel/UC9cUjWtqawvdM6K632PvGow