Lexington, KY - What advice would you give someone entering your profession? We asked four business owners, who were most generous in sharing their information, what they would say to a recent college graduate or an established professional moving to Lexington.
Natalie Barrett, CPA
www.NatalieLBarrettCPA.com
Always operate with the highest degree of integrity and do a good job, and people will tell other people about you. A career in accounting would be a great decision to make. It has served me well. I did my first tax return at 14 years old. It is not without challenges, but there are so many things you can do with an accounting degree and certification. There are opportunities in government, health care, retail, the private sector and as self-employment. Every business has the need for our skill set. You're limited only by your areas of expertise and competency.
Every state has its own way of handling income tax, so you have to be versed in taxes for the particular states where you want clients. I have clients I've never met face to face. There are no boundaries in accounting; that's the beauty of it.
When I say I do accounting, people ask if I'm a CPA. I say yes, and it lends me a certain credibility. People believe I'm intelligent, capable and trustworthy to handle a very intimate area of their life.
Melinda Duncan, real estate agent with RE/MAX Creative Realty
www.MelindaDuncan.com
There is always room for good people in real estate. I entered when rates were high, in 1986. When it's slow, you have enough time to be taught well, to learn worst-case scenarios. Technology is great, but old-time relationship-building skills are mandatory in this market.
You do have to have some upfront money to get started in real estate. When I started, I got 17 sales over four years by delivering juice pitchers in a neighborhood. I put $1,000 on my credit card and had my name and phone number on the pitchers. It really works.
Also, you have to be a manager of your time. You may think it's all about independence, but I know if I don't put in 60 hours a week, I'm not going to get results. You have to be self-disciplined to work the hours you need to work without anyone telling you what to do.
Take business cards wherever you go. I dressed in a suit when I went to my kids' games. People want to work with somebody who's busy. Make a list of 100 people you know, and you can do okay in real estate. Always thank people for their referrals.
Bret Melrose, owner, Fayette Heating and Air
www.FayetteHeating.com
Make sure you have enough capital to run a business and pay your bills and do good work with a quality staff. Don't think you can charge $100 per hour and put it all in your pocket. You have to understand insurance, workers' comp, general liability, buying new tools and equipment.
The fly-by-night operator hurts our industry because anyone can put a sign on their vehicle, but it takes more than a pickup truck and tools to start a business. Many people think they can run a business on a shoestring, but you need $50,000 to $100,000 cash to do it right. You need licenses. The BBB is trying to stop those who are undercapitalized and cheating the system. Do it right, follow all the rules, do it better than anybody else does it and be the best at what you do.
Jeff Rogers, president, Jeff Rogers Photography, Inc.
www.JeffRogers.com
I always try to communicate to the client that I am interested in a long-term relationship, not just a one-time job. Try to instill as much confidence as you can with the client. Many people are "buying" security and stability that you can meet their needs in a timely manner, within their budget.
Try to be well-informed in the ever-changing landscape of digital media. Continue to be a student, because just as soon as you think you have it all figured out, technology changes again. Establish yourself not just as a creative professional but also as a small-business owner. Discuss fees, usage and payment terms upfront. Care about your clients as real people. Have a good working relationship with a bank and a line of credit. Every self-employed businessperson goes through lean and difficult times; often it is feast or famine.
Don't take yourself too seriously! Be confident in your abilities, but be humble. Nobody likes to work with a jerk.