We recently connected with LaToya Bonner and have shared our conversation below.
LaToya, thanks for taking the time to share your stories with us today One of the most important things small businesses can do, in our view, is to serve underserved communities that are ignored by giant corporations who often are just creating mass-market, one-size-fits-all solutions. Talk to us about how you serve an underserved community.
One thing that I have noticed in the tax preparation industry is that a lot of people really don’t understand taxes. Whether it’s how to properly complete a W4 (tax withholdings form), how taxable income is determined, deductions even something as simple as tax filing status, they’re really confused. Sometimes when clients enter my door they have questions, but are afraid to ask them. I quickly let them know that this is a judgement free zone and can ask whatever questions they have because my job is to help them have a better understanding of what’s going in. I make it my business to ensure that when my clients leave out of my office they have a better understanding of their specific tax situation, I want my clients to have the peace of mind in knowing that regardless to what their background is, I will always give them my best.
Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers
My name is LaToya Bonner and I am the owner of Bonner Consulting Services in Chattanooga, TN. My business, which focuses primarily on tax preparation, opened in 2017 and we have currently have clients in 13 states. I received my Bachelor’s degree in Finance, a MBA specializing in Forensic Accounting and a Certified Fraud Examiner certification. I previously worked as a Corporate Investment Accountant, but in 2018 I resigned from my career and decided to become a full-time entrepreneur. Although I am an Accountant by education and have the ability to provide accounting services, I found love is taxes. I enjoy helping my clients better understand their tax situation and giving them the support they need to overcome something that scares so many of us. What sets me apart from others is my transparency and ability to translate such a difficult topic into words that anybody can understand. I’m most proud of how happy and at peace my clients feel after we’ve met. So many times when I meet with clients that are stressed and worried about their taxes. So once we’ve talked through things and they have a better understanding as to what they’re facing it feels good to see them exhale and smile. Seeing that is what gives me the greatest joy. What I want potential clients, followers or fans to kn0w about me is that I have built my education and career around this industry. I LOVE NUMBERS and that’s why I do what I do. I dedicate myself to staying on top of changes so that my clients can benefit from the things that are applicable to them. I’m not just here during tax season, I’m here year round.
How about pivoting – can you share the story of a time you’ve had to pivot?
One time I had to pivot was in year 2 of business (2018). In year one I neglected to opt-in to offering cash advances, mainly because I didn’t understand all the details, but by not opting in I missed out on a lot of potential clients. One thing I have to remember is that a lot of people are trying to recover from the holidays and year end spending by the time tax season rolls around. They depend on their tax refund to help replenish those funds that they’ve spent. So once I realized I needed to pivot and start offering cash advances, not only did it help me get new clients, but it also allowed me to remain competitive in the market.
What’s been the most effective strategy for growing your clientele?
The most effective strategy for growing clientele is consistency and honesty. You have to give good valuable service every single time and you have to tell your clients the truth. So many times people play games with their taxes, they try to do unethical things and when they get caught up they act as if they didn’t know what was going on. My clients know that I have zero problems telling them “No, we’re not going to do that” and then explain to then why. I feel that by being honest and transparent with clients you gain their respect and they can have peace of mind in knowing that they’re in good hands,
Contact Info:
- Website: www.bonnercs.com
- Facebook: Bonner Consulting Services/ LaToya Graves Bonner
Image Credits
Feature Photo: Courtesy of Gholston Photography