Question: What makes a remarkable state and local tax consultant or client experience?
Answer: “Your SALT Partner” or “YSP.” YSP is a figure of speech or “ideal” of what the greatest SALT consultant should be (i.e., best practices, client service, etc.).
Over the next 12 weeks I will share one of the 12 best practices of being the greatest SALT consultant, YSP. Here is this week's.
“True Partnering Relationships” versus “One-Hit Wonder”
My first point, based on years of experience, is that state and local tax consultants should seek to be strategic partners with their clients, not provide “one-hit wonders.” Meaning, Your SALT Partner, or YSP, should be someone that develops strong relationships with their clients. Through those relationships, YSP will gain a deeper understanding of his or her client’s, or prospective client’s business, and be in a better position to provide practical, customized SALT solutions.
The opposite of YSP is a “one-hit wonder,” or a SALT consultant that “hits up” clients with the “idea of the day.” This SALT consultant is more focused on meeting his or her personal/firm goals instead of focusing on solving the client’s problem with the most practical solution.
The “one-hit wonder” is here today, gone tomorrow; not only before or after a project, but sometimes during a project. As a client, you can be “in the dark” as to the status of the project, what the consultant is finding, and what the potential solutions are (this should not happen).
YSP provides updates throughout the project to the client, and advises them as to changes or alternative solutions that arise.
Have you experienced a YSP or "one-hit wonder"?
P.S. My idea for writing about the greatest SALT consultant came from another blog, "The Greatest American Lawyer." Please check it out, it is very informative and useful, even for nonlawyers. http://greatestamericanlawyer.typepad.com/greatest_american_lawyer/
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