Start A Tax Prep Business – Small Town Success

Smaller communities function much like an involuntary social club. People, of all demographics in that club, are sensitive to how this office will make the town appear. People in small towns take pride in the area that “belongs” to them. No town wants to be known as “backwards” or “unsightly”. Every town, no matter the size, wants to be seen as reasonably progressive and respectable. If a town only has a handful of businesses, one that does not fit with the culture of the community will stand out like a sore thumb and eventually fail because no one will go to a place where the organizational principles conflict with their own.

For this reason, it is very important to research the area and get to know the community in order to open an office that is well received. For example, a person with no credibility in the town would fail at opening a tax preparation office. Whoever opens the office needs to be a credible member of the community in order to handle business dealing with this personal type of information. Whether he or she is credible within the community due to PTA meetings or due to having lived his or her whole life there has no bearing. Is this person sociable? When he or she goes to the bank, will there be friendly small talk? These characteristics about the person affect the way the new business will be viewed. This small talk and community interaction sets the office up for loyalty and longevity within the town, which could prevent other individuals or businesses from attempting to open an office and compete for your customers. Also, the office can not have an air of brevity. Small towns respect businesses that are dedicated to its patrons.

One of the main advantages to opening a tax office in a small town is the longevity you can create with a solid business plan. By actions and not words, this business must make it apparent that they intend to operate within the community indefinitely. Another advantage is that most rural areas are beyond the scope of large franchising corporations because of low population density. Large corporations or franchises will not see profit quickly from this venture after a new building is built and a large marketing campaign is launched. Small towns have enough interaction to give people a sense of security, allowing an office to operate out of the proprietor’s house, or existing business. This causes only a minimal increase in overhead for the business owner who will start making money as soon as he or she begins preparing taxes. As for marketing and advertising, these towns are their own intertwined social networks: everyone knows everyone else; news moves fast in small circles. This a very good thing, assuming news about your new tax business is met with eager anticipation and trust. People in the community get excited for you, as a friend, and they help you spread the word without even having to asking for the favor. Knowing everyone in the town enables the proprietor to go confidently door to door to personally ask for their business and invite them into his or her home or office.

Opening an office in a small town has many benefits for a motivated, credible tax preparation business entrepreneur. If executed properly, a tax office, opened in an underserved market like a small town, can become a staple of the community, resilient to the attacks of larger corporate offices who have no tangible ties. As we approach the end of the large corporate era, the pendulum swings back to benefit the small business owners who stand up and take a risk for their family and friends, and their small town.

Start Your Internet Marketing Business Small, But Think Big!

First you make your habits; then, your habits make you.” – Old saying

The first few months of a new Internet Marketing Business form the foundation its future. The more effort and attention that can be invested in doing things right in this crucial phase, the more smoothly things will go from there on. Remember, even multimillion dollar businesses will have started small! You should find that the start small guideline can be applied to all aspects of your business, for example:

Setting up a blog, putting together fan pages, accumulating Twitter followers, Advertising, adding additional product lines and even budgeting. It can be applied to brand new projects, as well as projects that are being diversified.

Start small and do it as well as possible. When an area you have been working on for a while feels like it is going well and no longer requires as much attention, THEN you are ready to expand to a new area.

Why does it work to start small? Starting small enables you to:

Do it right.

At the outset, you will have your hands full with every aspect of getting a new Internet Marketing Business off the ground. If you are not careful you can become overwhelmed with the amount of work required and spread yourself to thinly. Once you’ve learnt how to do one job well and it doesn’t take you as much time as it did initially, then you are ready to move on to the next area.

Innovate and improve.

You will gain great ideas and innovations from every experience over the first few months. If you have started small on each task, you are in a better position to tweak as you go and see the benefit of small improvements:

Learn from mistakes.

It is a lot more fun to say, “Next time I’ll know…” when there is going to BE a next time. Mistakes are inevitable; on a small scale, they are also reparable. Even a huge mistake is not a big deal, if you started small

Create a realistic time-line.

If you start small with your business plan, you will have an idea the kind of time and resources it should take to set each aspect of your business up through the early stages, and so you’ll know how big you can make your next step. Maybe you can handle three times the work that you could initially; maybe you need to cut back on some things, at least you will know what is involved!

Develop effective habits.

You will have to decide how to manage your Internet Marketing business and in what direction you want that business to go. On a small scale, you have the time and physical capability to handle everything appropriately, and learn as you go what is the most effective thing to do for your business and when it’s appropriate to do it.

Trial new things.

Some entrepreneurs will jump headlong into selling several product lines at once thinking that the extra variety will automatically bring them additional revenue. They then discover that the different product lines appeal to very different marketplaces, which require additional advertising, different styles of blogging, landing pages and giveaways. If you start small, build up a customer following for one product line at a time and then add others as you have more money to spend then you can save yourself a lot of pain. Starting small may not be the exciting option, but it’s better than struggling with poor growth and a poor investment for months, or years down the line!

Know your limits.

You may reach a point when you realize that your resources are fully occupied maintaining what you have. For example, you may have planned to develop several Blogs to target different audiences, but after developing one you realize that’s all you can handle for now, time-wise, creatively, or financially. There’s nothing wrong with that! Leave the rest to until you have the resource, or leave it forever. The important thing is to manage what you have wisely.

Starting your own business as an Entrepreneur can be a great adventure and done right, can provide you with a great source of income for years to come. By starting small and covering all the bases you give yourself the best opportunity to get everything set up. You never know, by starting small and carefully using trial and error as you go, you may discover a great niche that suits you and that really allows your Internet Marketing Business to flourish.

Incorporating a Business? Small Banks More Likely to Approve Loans in 2011

This year, community banks will be more likely to lend to small businesses than they were last year, according to a study by Sageworks, meaning that entrepreneurs incorporating a business can once again look locally for funding. This is especially good news for new and small businesses looking for growth opportunity.

The study found that 58 percent of community banks plan on making more commercial loans in 2011 than they did in 2010. Approximately 38 percent of lenders said they would make the same number of loans and 11 percent said they were less likely to approve loans. For small U.S. banks, these results come as a sign of further economic recovery.

For owners who may be looking at business incorporation as part of their growth strategy for 2011, this comes as great news. For owners who may be looking business incorporation as part of their growth strategy for 2011, this comes as great news.

In comparison to large banks, small community banks generally have under $1 billion in total assets and operate within a smaller region, according to the study. They often rely on real estate and small business lending for income, both of which all but disappeared during the economic recession, when home sales dropped and foreclosures rose. Since 2007, 340 U.S. banks have failed, the study reported. The majority of those banks were small, community banks. Facing these issues, community banks are once again turning to the small business owners in their local areas for partnerships…and that can only be good news.