Alan Williamson
Business Name: Williamson & Company, P.C.
Website URL: www.willcocpa.com
E-mail: alan.williamson@willcocpa.com
Year Founded: 2006
Number of Employees: 9
What does your company do? Provide accounting services, tax preparation (individual, business,and fiduciary returns), payroll services, sales tax preparation, choice of business entity selection and setup, reviewed and compiled financial statements, financial plannning and tax planning and business advisory services.
Was there a specific turning point when you realized your business was moving to the next level? After the “great recession” we were a leaner, more focused firm. We lost some clients that didn’t survive and had to be much more self reliant on our own cash flow (no outside financing) to get us through.
What processes or procedures have you implemented that have helped grow your company? Moved to paperless workflow and cloud hosting of software. This allowed us to become more efficient and spend more time on analysis and less on data gathering.
What is most rewarding about running your business? While it is more work being your own boss and you live it 24/7, owning and running a successfull business has been the most challenging thing I have ever done (especially having bought the firm just prior to the recession). But now having made it through is incredibly rewarding.
What challenges have you faced and how have you overcome them? Staffing has been a challenge since day one. Finding the right people has been difficult and is still a challenge. We have moved to hiring at a higher level -more experience and offering higher salaries to get the staff we want.
If you were starting over today, what would you do differently? Plan for a longer start up period and better (realistic) cash flow projections. Definitely a more planning for contingencies upfront.
What advice do you have for other business owners? While it is challenging to own your own business (and my hats off to anyone who does it successfully) it is also incredibly rewarding. One of my best pieces of advice would be “don’t be afraid to change things”. If it not working, try something else! The world is changing everyday and you will have to change to keep up.
Please list any favorite books, tools or resources (software, website, etc.) you would recommend for others: Read the Wall Street Journal everyday. I use technology (iphone, ipad, three monitors, cloud hosting anything that gives me a advantage or makes me more efficient with my time.
What is something that people might be surprised to learn about you? I appear to be a stuffy old accountant but I have two Harley Davidson motorcycles (which I never get enough time to ride). Trying to break the stereo type. And i’m raising two teenage grandaughters…Enough said!
