As my regular readers may know, I decided to start a side business. I know that I will need to invest in my business venture if I want to see it succeed. The idea is scary and feels risky. Yes, even though I will be keeping my costs low, it is still hard to part with that money. It’s a risk. Today I set aside the fear and made my first investment in my tax prep business. I hired a coach to help me get started.
How I chose a business coach
When I started exploring the idea of running a tax preparation business, I looked online for other young CPA’s who had their own businesses. I wanted to connect with some of these individuals and ask them about their experiences. I happened to stumble across the website of a CPA who is now my coach. She is self-employed full-time as a CPA. I sent her an email several months ago asking her about her experience as a small business owner. She gave me a lot of insight and offered to coach. I realized that we had a lot in common and that her insight would be extremely valuable to me.
Why I chose to hire a coach
When I told my parents that I was interested in hiring a coach they first questioned why and told me that they didn’t think I really needed one. Do you really need to hire a coach? Will it be worth the money?
They’re probably right. I probably could start this business without a coach. I could do it and save myself some money. However, hiring a coach would give me more confidence and reduce my stress. There’s just something in my gut that just says to do this. Putting yourself out there as a business owner is a little scary. Having a coach makes me feel more prepared.
I hired a coach to help advise me through the set-up phase of this business. Tax return preparation is a highly regulated industry with high standards. I want to make sure I am setting up this business correctly. I think I’m taking all the correct steps, but having a coach who has already been there and done that gives me peace of mind that I am doing things right. I will use her feedback and advice to make sure that I am starting a great business.
Hiring a coach is just one step. After that, it’s time to take care of the technical aspects of this business. I have to register with the IRS and purchase a software license. I will be trying to get as much of this work done before 2015 as possible. After that, I will need to work on my marketing plan. Marketing myself is the part of the business that stresses me out most. Busy times ahead my friends!