Word: intuitively
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...increase. Polaris Industries left the safety of its snowmobile niche to battle the Japanese in the ATV business and later took on the gang at Harley-Davidson in the motorcycle business. The Staubach Co., the commercial real estate broker, pushed to expand nationally before other tenant-rep firms did. Intuit faced down Microsoft twice, in the personal-financial-management-software business and in the small-business-accounting business. In each of these cases, competitors chose to play it safe and consolidate their winnings rather than double down in a market. They learned the hard way that the only safe...
When calculating the entrepreneurial risk involved, people often get the math wrong. Take starting a business, for example. Some might say Scott Cook, co-founder of Intuit, took a huge risk when he left a successful career at Bain & Co. to help start the company. But Cook figured otherwise. "The worst thing that could happen to me is that I would spend a few years paying off credit-card debt. To me, it looked like a risk-free decision," he said...
...they're offsetting positions on property like stocks). Within a few hours, I was ready to e-file. The only annoying part - aside from the whole taxpaying thing, of course - was dealing with an unhelpful call center when my CD didn't understand that I'd already paid Intuit, the maker of TurboTax, and didn't need to give my credit card number again...
...software makers - mainly Intuit, which commands 85% of the market, and H&R Block, which holds most of the rest with its TaxCut suite, according to market-tracker NPD Group - certainly bring in a tidy profit. But many of their customers are perpetual do-it-yourselfers like myself, people who have left behind paper and pencil, not a professional tax preparer. I like to think that I'm a numbers person and would do my own taxes no matter what. But the truth of the matter is, I have a relatively simple tax situation, one of the few advantages...
...Ironically, the group most threatened by technology is the tax prep software industry itself. A new generation of Web-based products, such as TaxAct, are slowly needling their way into the market dominated by Intuit and H&R Block. One reaction of the established players has been to offer services more akin to those of a professional preparer. People who sign up for Intuit's TurboTax Professional Pro supply tax data over the Internet and then have a phone conversation with a preparer, who ultimately does the filing. H&R Block's TaxCut Tango and Signature online products also have...