1. What was your major in school? Masters degree? What school?
Accounting-BBA at Tarleton State University in Stephenville, TX
2. How did you decide that you wanted to become an accountant? Getting certified?
It seemed like the simplest route to make money/it would be a good career choice. In order to open your own CPA firm, you need the certification and it gives you more prestige and money.
3. What inspired you to open your own business?
Working conditions-Hours and coworkers are more flexible. Freedom to make decisions about how much money to make and how the business was run.
4. What are some of the pros and cons of owning your own business?
Pros: flexible hours, ability to make more money, can choose how much to dress up/not, no boss to please, and able to make own decisions on how to run the business.
Cons: dealing directly with employee problems, no benefits (insurance or matching 401 K), instead of just pleasing 1 boss, I have to please a large # of clients.
5. What are some tips for success that you would give someone looking to start their own business?
Start small and dont try to grow too fast-employees vs cash flow can get out of hand. Try to limit hours worked-you cant work all the time. Make sure to collect your money-how much you bill is only half the battle.
6. How big of a part did location play in starting your business?
As the saying goes-location, location, location. You do not have to advertise as much if your office is on a well traveled road and has easy access on and off.
7. How did you begin to get clients for your business? And keep them?
We had to advertise a lot at first. When you do a good job for people though, they tell others. We try to treat everybody with respect and friendliness as if they are our friends. Some CPAs are too good for certain clients-we try to be the same for everybody.
8. What are some of the most important parts of your business that have helped you succeed?
Any person who owns their own business has to be a people person. In order to get and keep people, clients have to feel worthy something. We have learned to be tolerant, and kind. We have also learned a lot from other’s mistakes.
9. What are some of the important financial issues that come with starting a business?
Start slow and borrow the least amount of money possible, pay all taxes when they are due, don’t hire extra employees until you need them, get out of debt as soon as possible, and don’t take all he money out of the business to pay for personal toys.
10. Any other information on running a business: tips, locations, family, clients, financial
1. Family has to be on board when you own your own business. It takes long hours to pay for business overhead and personal bills, especially if the spouse does not work
2. Business profits fluctuate. The project may be complete but may not be picked up by the client for a while (weeks or months)
3. Do not give anything – tax returns, financial statements or other information out without first being paid – you will get burned.
4. Location is as important as word of mouth. If clients drive by your location daily, when they need something they will “stop” by
5. Having a large parking area helps too! Whether our client is pulling a trailer, is in an 18 wheeler or small car, we have room for them to park. We also have easy access to main road so it is easy for them to pull off and reenter traffic.
