Do you have an interesting story to tell related to your small business? Have some advice for other entrepreneurs to help them avoid some of the pitfalls of small business ownership? We invite you to share your story with the Small Business Community. Please note that your story will be reviewed by our moderators before it is posted on the community, so please don't provide an advertisement for your business. Just answer some of the questions below, in your own words (you don't have to answer them all). We look forward to reading your story!
Question: What is the name of your business?
Your Answer: K&M Accounting and Tax Services LLC
Question: Where is your business located (city & state)? Who are the customers you serve? What products or services does you company provide?
Your Answer: My business is located in Charlotte, North Carolina. Most of our customers are small business owners and professionals such as doctors, consultants etc. We provide Accounting, Payroll and Tax Services to small businesses. Our passion is really to help new start-up businesses get on their feet and watch them grow.
Question: When did you start your business? Why did you decide to start your own business?
Your Answer: I started my business in 2007. I always wanted to start my own business. I am trained as a professional accountant and hence it was easy decision for me to start my own accounting and tax practice.
Question: Did you quit your "day job" to start your business? How did you initially fund your business?
Your Answer: I did quit my day job, but it was not to start my business. It was to enjoy with my three growing children.I was fortunate in that I was able to quit my day job and then get back into full time work with my own business. My husband and I had some savings that we used to get my practice going. Initially I worked out of my home office for couple of years and then moved into a small office. Now, we have moved into a large office in South Charlotte area.
Question: What has been the biggest challenge in running your company?
Your Answer: Finding good people and retaining them has been a challenge. As we have been growing very rapidly in the past few years, it has been difficult to find good people.
Question: What’s been the biggest opportunity that came from owning your business?
Your Answer: The biggest opportunity has been to help young entrepreneurs grow their businesses.
Question: What has surprised you most about being your own boss?
Your Answer: There is no boss to complain to or complain about!
Question: Is there a success tactic you’d like to share that could help other business owners (i.e. implementing new software, tactic to grow sales, etc.)?
Your Answer: Online marketing, customer service and reviews has been the key to our success. I strongly recommend small business owners take the time to learn some basics about online marketing. This is a very different world now... with online reviews and instant FEEDBACK.
Question: What’s the best piece of advice you could give to other small business owners?
Your Answer: Being a Business Owner is not easy. Especially if you have a small business without much help. So take a break every once in a while, review your business performance, evaluate your SWOT - Strengths, Weaknesses, Opportunities and Threats on a periodic basis.