We’re excited to introduce you to the always interesting and insightful Marcus Hernandez. We hope you’ll enjoy our conversation with Marcus below.

Marcus, thanks for joining us, excited to have you contributing your stories and insights. Can you talk to us about your team building process? How did you recruit and train your team and knowing what you know now would you have done anything differently?

I started my own business in 1985 in Purchase, NY and it was just me at first. I did everything from traveling to clients, preparing taxes to copying and collating tax returns and answering the phone. I did that for a couple of years, then as my clientele grew, I hired a secretary. After some aggressive marketing in 1991, I had a huge increase in clients in 1992 which led me to hiring a bookkeeper and another accountant, and eventually an office manager. Unlike today, it was easy to get employees. I would place an ad in a local newspaper and usually received several applicants to apply for the various positions. Because my company is primarily in the tax preparation business, I needed to hire seasonal employees. But since 1992, I have had four full-time permanent employees with about 4 to 5 additional seasonal employees during tax season. I was in my same office for 20 years in Purchase, NY, then in 2005, I moved my office to Tampa, FL. Being new to the area, I started my Florida office with family members. My wife was the office manager/bookkeeper, my mother-in-law as the secretary, and my son as a junior accountant. As we grew, I hired more staff through placing ads in social media and word of mouth. It is important to find trustworthy staff in any business, but it is especially vital in a financial business such as accounting where you are entrusted with your client’s confidential information. Thus, we implemented a screening process for our hires, including reference and background checks through a third-party. We have been very fortunate to have not only quality professional staff, but trustworthy with exceptional character and work ethics. Starting a business today has more challenges than it did in the 1980s. Post-pandemic employment conditions make skilled workers who are willing to work scarce. Placing ads thorough social media does not have the response as it once did. Also, the candidates make salary and scheduling demands more aggressively than they did in the past. Unless you are willing to pay a competitive salary, and let them work from home, it would be difficult to find employees.

Marcus, love having you share your insights with us. Before we ask you more questions, maybe you can take a moment to introduce yourself to our readers who might have missed our earlier conversations?

I became interested in accounting while attending Baruch College in NYC. Majoring originally in the business management program, I noticed that there wasn’t a promising job market at the time, so I was encouraged by my advisor to consider accounting since I had strong math skills. Accountants were in high demand, and I liked the idea that whether businesses were profitable or not, they still needed an accountant. After graduating I started to work for a large accounting firm auditing books for celebrities. My first client was Simon and Garfunkel. I realized auditing was not where I wanted to stay since I was not interacting with the clients. For me it was too impersonal. What set me apart from the other accountants, was that I was very social and wanted client interaction. This is when I was drawn to tax accounting which put me in contact with the client directly. Clients liked my personality and professionalism. They loved that I was knowledgeable in tax laws, creative in finding deductions and credits, and valued detailed visual presentation. I worked in the corporate world for four years and realized that I wanted my own accounting practice. An advantage I had was that I spoke Spanish and there was a wide-open market for a bilingual accountant in NY. I specialized in tax preparation and small business accounting which attracted Latino business owners. My practice grew quickly. I am most proud of having the same loyal clients for the past three decades. Relationships built on trust and providing professional services are important attributes to a successful business. My moto is “A professional you can count on.” My clients can count on me to look out for their best financial interest by knowing their goals, keeping up with current tax laws, and providing advice to save them tax dollars and helping organize their business records.

What’s worked well for you in terms of a source for new clients?

We have tried different local magazines and newsletter advertising that get mailed out. Included in the ad is a coupon for a free consultation or a percentage off our services for first time clients. The magazines also include an article about the business to give the reader more information about your business background and services you provide. We have had some success with this hard copy kind of marketing, but most recently the internet has provided a broader audience at zero expense to us. Many of our new clients find us on Google. It is important to provide appropriate and popular meta tags, so your website comes up on top during searches. It is also equally important to have close to five-star ratings from client reviews about the quality of your services. But by far the best source of new clients for us is word of mouth referrals from existing clients. Potential clients are more inclined to trust you if their friends and family trust you.

Let’s talk about resilience next – do you have a story you can share with us?

Resilience for me means that when I am faced with change or obstacles, I must be adaptable. Nothing will kill your business more than to stay stuck in the traditional way of doing things. Each year poses a challenge not only in the constant changing of tax laws, but also in the technology used in business. When I started my business, I was preparing 1040s with pen and paper. With the new age of technology, I had to teach myself how to work on computers, network them, and learn new tax programs; always trying to stay ahead of the game. With the recent pandemic, I had to implement new ways to interact with my clients using zoom meetings and having a drop box. I also added services for my clients interested in applying for PPP loans. Most recently is the challenge of understanding crypto currencies and the tax implications they may or may not have for our clients. Being open to learning new things and facing challenges head on is what keeps me relevant and resilient during the everchanging landscape of my accounting business.

Contact Info:

• Website: https://hernandezaccounting.com/
• Instagram: https://www.instagram.com/orchestrafuego/
• Facebook: https://www.facebook.com/hernandezaccounting
• Linkedin: https://www.linkedin.com/in/marcus-hernandez-9ba92a3a/
• Youtube: https://www.youtube.com/orchestrafuego

Image Credits
Photos by Balentin Perez