Fiducial | We help your business grow and be profitable.

by Stephen Parezo

Samuel Smith

June 4, 2004—Sam Smith never set out to become the top franchisee in the Fiducial network. In fact, after being named Franchisee of the Year for 2003-2004 at the Fourth Annual Convention in Ellicott City, the soft-spoken Smith took the company's highest honor in stride.

It's that kind of even keel that has won over many clients throughout the past decade. With Smith, who owns a franchise in Middletown, MD, what you see is what you get.
He's a straight shooter and that's what his clients appreciate from the moment they meet him.

"Our goal is to be the best tax and financial services office in our area and to be the best counselor to provide the clients what they need," he said. The key to doing that, "is understanding what they need."

It's an all-too-familiar scenario where clients are knowledgeable in their chosen fields but they need help when it comes to managing their business. Whether it's an auto repair technician or a dental surgeon, they all suffer from lack of management skills. That's where Smith is ready to lend a hand.

Clients, of course, have to be well-treated and receive quality service. This is what keeps them in the fold. "Our retention rate is about 98%" Smith said, matter-of-factly. It's clear that when clients come to his office, they're in it for the long haul. "We do not lose clients," he said. "Our number one goal is they are a client for life."

Business is good in this area of Frederick County so much so that Smith has hired three new employees over the last nine months. He and his wife, Karen, who serves as the office manager, chose qualified candidates and expected them to hit the ground running.

Smith recognizes that ensuring the ongoing success of any enterprise requires the owner to free himself from handling a majority of the functions. That way, clients realize that the business represents more than just its owner.

"We're at the point now that I am constantly delegating (work) to staff people," he said. And he expects his staff to step up to the plate right away.

It all starts at the top. While he admits doesn't become friends with employees, Smith says he does trust them and realizes that "they're the ones that make me successful."

A firm believer in systems, Smith has been a strong supporter of Fiducial's blueprint for building a successful business. He acknowledged that the network is now starting to see some of the positive effects of the company's national marketing campaigns with high-profile coverage garnered in national media outlets and response generated by the company's website. Recently, the website led to two new clients contacting Smith after visiting www.fiducial.com.

Having grown up on a family dairy farm, Smith has a capacity for handling his fair share of "chores." Gregarious by nature, the father of three admits he's a people person and enjoys "helping people be successful with what they do."

Recalling his roots, Smith takes pride in mentioning that his business gives back to the community. "We've already contributed to pay one-third of the cost of a new scoreboard at Middletown High School," he said.

Smith knows there's strength in numbers in the Fiducial network. "I can log into the chat room on the web and find out what I need to know," he said. Having experts close at hand is also a big plus, especially when it comes to handling tough tax questions. "I can pick up the phone and call the tax advisors and say 'Okay guys, here's the problem and help me solve it.' They tell me how we can correct it."

The following example demonstrates the value of having experts just a phone call away. One client, a real estate agent, was anticipating a capital gain and wanted to know about the tax implications. So Smith checked with the Fiducial Tax Hotline Advisors and learned how to save his client $70,000 in taxes. The grateful client spread the news of his savings all over town and remains a loyal customer.

Word-of-mouth advertising remains highly regarded in the marketplace. During this tax season, he received seven referrals to new clients from his existing accounts.

In the ever-changing field of accountancy, Smith asserts that Fiducial "needs to make sure that we go forward as a group. We cannot have any lone wolves. Company strength comes from all of us being on the same page."

As for the secret of his success, Smith says the reason is simple: successful clients.

"If I'm retaining 98% of my clients, on average, I know that 98% of my clients are being successful," he said.

Keeping up with the latest technology is important to Smith whose office went paperless this tax season which led to probably the smoothest crunch time they've ever had. Hiring more staff and delegating duties has freed him to devote his energies to public relations efforts. In addition to his wife, he's also enlisted the summertime help of three daughters-Shannon, 16, and 13-year-old twins Jessica and Danielle.

Without a doubt, Smith says the most important thing about his business is being able to attend 95% of the school and recreational functions of his teenagers. "Family is the most important part of my life," he added.

Stephen Parezo is the Media Manager for Fiducial.

Whatever your small business needs, your Fiducial tax and financial professional can analyze your situation and recommend an appropriate action plan. To locate a Fiducial office nearest you on fiducial.com, see the Zip Code Locator located in the upper right hand corner of the page. Do you have a particular topic that we should be writing about that can help your business? Please send your suggestions to: stephen.parezo@fiducial.com.

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