The desire to help small businesses succeed is what drew Sherry Borshoff of Borshoff Consulting, LLC, a tax and accounting firm, to become an entrepreneur.
“I have a passion for helping people, and a high aptitude for numbers and tax regulations,” she said. “I thought that with my tax and accounting skills, I could help the smaller businesses out there navigate the complex tax and accounting regulations, and help keep them our of trouble.”
Her advice to those who are thinking of starting their own business? “There are many things, but first and foremost, have a clear vision of what you want to offer, and whom you want to offer your products and services to,” Borshoff explained. She suggests that taking the time to develop a good business plan, and then seek out team members you will need to help establish a good foundation. “The basic team members you MUST engage are: an accounting and tax professional, an attorney, an insurance agent, and of course, you must have a banker who can guide you toward setting up your business accounts separate from your personal accounts.”
While Borshoff’s clientele spans nationally, she says her reason for why it’s important to be known as a local business is because most people like the personal touch. “The ‘know, like and trust factor’ is more important most times than price, especially in the Midwest,” said Borshoff. “You really have to have a high trust factor with your accounting and tax professional, so engaging someone who is local is usually the best scenario for developing that.”
She says the biggest challenge within her industry, and with most small businesses, is keeping the pipeline full when it comes to obtaining new clients– especially the ones who need tax resolution help. “A lot of false promises are made on those TV commercials promising to settle your IRS debt for pennies on the dollar,” said Borshoff. “Those people give all real tax resolution experts a bad name.”
One thing you may not know about Borshoff, she describes herself as a Christian. “I value my relationship with God, and I truly love working with and networking with people who share similar beliefs. My true calling to help people with my tax and accounting practice is just one way that I fulfill that.”
On November 20, you can find Sherry Borshoff doing a presentation at the Lawrence Chamber of Commerce outlining the new tax laws for 2020, and what those mean to small business owners. Borshoff says she’s on the look out for more media, and presentation opportunities so she can really promote her “Indiana’s Tax Expert” status.
Learn more about Borshoff Consulting, LLC here: https://borshoffconsulting.com/