Alright – so today we’ve got the honor of introducing you to Maresa Scott. We think you’ll enjoy our conversation, we’ve shared it below.
Hi Maresa, thanks for joining us today. Have you ever seen (or implemented) a really awesome way to show a client you appreciate them.
As a small business owner, I firmly believe in the significance of contributing to the communities we serve, while also remaining attuned to their evolving needs. Annually, I strive to engage in philanthropic efforts such as Turkey Drives, Toy Drives, and offering incentives to our clientele. During the challenging period of the pandemic, I initiated a program wherein I encouraged my clients to nominate individuals who demonstrated resilience despite facing financial hardships, and the obstacles of ensuring their basic needs were met.
One deserving nominee was selected, and in collaboration with a local black-owned restaurant, we orchestrated the opportunity to provide a free Thanksgiving dinner spread, complete with turkey, ham, multiple side dishes, dessert, and bread, capable of feeding a family of 8-10 individuals. Additionally, we extended a financial grant of $1,000 along with a lavish spa day experience. Amidst times of uncertainty, it is imperative to alleviate feelings of despondency and neglect. Thus, we endeavored to offer not only material assistance but also uplift their spirits. Furthermore, recognizing the merit of all nominees, we distributed $100 gift cards to ten other individuals nominated.
Maresa, 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?
Well for those of you who are new to meeting me, my name is Maresa Scott (but some call me Resee for short), and I am the Owner and CEO of POW Financial Services. We are an organization that focuses on Financial Literacy through Tax Preparation Services, Tax Planning, Bookkeeping, and Life Insurance. Honestly, this opportunity unexpectedly called upon me. It was not a choice I consciously made. Initially, I found myself in a position that fulfilled my professional aspirations entirely. Employed by a family-owned company, I enjoyed the desired salary, collaborated with exceptional colleagues, and operated in an urban setting. For the first time, I achieved a harmonious balance between work and personal life. However, an inner voice persisted, suggesting that my potential exceeded the confines of my current situation.
Pausing to reflect, I prayed for divine guidance, seeking clarity on my path. Remarkably, within two weeks, my employment faced an unexpected turn: a corporate decision to relocate our headquarters from Washington, DC to Orlando, FL—a city that did not align with my aspirations. Recognizing this as the sign I had requested, I declined their offer of relocation and severance, a choice I now perceive as fortuitous, given the subsequent layoffs affecting a significant portion of my former colleagues after the relocation.
Subsequently, I encountered a promising business opportunity through social media, which prompted me to invest in my severance package. Leveraging my existing expertise in tax preparation, I transitioned from solo tax preparation at my kitchen counter to leading a team of five employees within three years. While this journey may seem modest to some, its significance resonates deeply with me.
By seizing the opportunity presented on social media, I gained invaluable mentorship from a successful business magnate and his network, fostering numerous connections through strategic networking. This community became a sanctuary for sharing experiences, business prospects, defeats, failures, and resources, ensuring mutual growth and success.
Under the mentorship, I apprenticed for a year before venturing out independently, navigating setbacks and triumphs, learning the art of delegation, and investing in professional development through business coaching. Today, I operate a fully remote enterprise and experience consistent growth. Since its inception in 2018, we have expanded the services we offer. Our main focus is Tax Preparation, Tax Planning, Bookkeeping, Life Insurance, and Business Essentials.
Many taxpayers come to us not understanding the tax code, how to properly maximize their deductions, how to reduce their tax liability, how to set their business foundation up for success, or how to ensure their family is protected – and we provide them with the knowledge, security, and peace of mind to be worry-free. We take the time to get to know our client, understand their needs, and cater to that specific pain point. Our goal is to provide a white-glove customer service experience that taxpayers have never experienced during a task they typically hate to complete.
I want your audience to know that this all started with the initiative to educate the people who look like me and have grown beyond my wildest dreams and expectations. I have a passion for teaching, growing, and new experiences, and what better way to do that than through a shared experience that everyone must encounter? The more knowledge I can equip my clients with, the less they feel intimidated by the IRS. I am profoundly grateful for this journey, as it empowers me to extend assistance and opportunities to others, and allows me to learn and grow with my clients. It has changed and shaped me in ways I could have never seen possible.
We’d love to hear a story of resilience from your journey.
Entering a pivotal phase in my business journey, I found myself amidst unforeseen trials. As I transitioned from my sophomore to junior year in business, I was tragedy struck with the sudden passing of my mother on November 1st, 2021. Compounded with this loss, I faced the unexpected burden of a legal dispute initiated by my ex-boyfriend, demanding repayment for a joint business venture loan totaling over $18,000— and by the grace of God a battle I eventually won in court 2 years later, though not without significant emotional strain.
In the midst of these challenges, a fleeting opportunity emerged: an invitation to join a last-minute, all-expenses-paid trip to Greece, offered by my cousin due to unforeseen circumstances. Faced with the decision to seize the moment or remain engulfed in turmoil, I chose to embrace the chance for relief, despite the impending launch of a new segment of my business.
While abroad, complications arose, including lost luggage and unreliable internet connection, prompting moments of doubt regarding my decision. However, leveraging transparency and vulnerability, I shared my struggles with my community on social media, garnering unexpected support and encouragement.
A few days after returning home from one of the best trips I had ever taken, I was met with the crushing reality of my mother’s unexpected passing, thrusting me into the role of primary caregiver for my younger sibling, amidst the logistical challenges of funeral arrangements and financial responsibilities. I had to temporarily relocate from Alexandria, VA to Charlotte, NC. This entire experience humbled me. It taught me about having a strong financial foundation and savings for your businesses’ rainy season. It taught me how to delegate low activity and low monetary generating tasks. It taught me how to expand the services I offer to provide me with more opportunities for financial growth and steady cash flow. Despite overwhelming grief and adversity, I persevered, drawing strength from my community and learning the invaluable lesson of seeking assistance when needed.
This period of adversity forced me to reevaluate my approach to business, emphasizing the importance of delegation, financial prudence, and diversification of services. Through strategic adjustments and resourcefulness, I navigated through the darkest moments, eventually regaining stability and resilience one year after the passing of my mother.
While the journey was arduous, it served as a profound learning experience, shaping me into a more resilient and resourceful entrepreneur. Grateful for the lessons learned amidst grief, I emerged with renewed determination to rebuild and adapt, embracing the challenges as opportunities for growth and transformation.
Have any books or other resources had a big impact on you?
Becoming an entrepreneur demands a distinct blend of endurance and determination. To achieve one’s dreams, one must be willing to outwork peers and embrace a relentless hunger for success every day they wake up. This path isn’t suited for the faint of heart. It requires resilience to confront the inevitable peaks and troughs head-on.
Prior to fully committing to entrepreneurship, I recognized the necessity of enhancing my personal development to cultivate the mental fortitude needed for the journey ahead. I dedicated myself to daily immersion in motivational content, absorbing insights from luminaries such as Les Brown, Will Smith, Tony Robbins, Eric Thomas, Mel Robbins, Lisa Nichols, and Jim Rohn. Their wisdom reshaped my outlook on life and business, enabling me to silence the inner voice of doubt and embrace transformative change.
In addition to auditory inspiration, I invested time in transformative literature, delving into impactful titles such as “The Four Agreements,” “Think and Grow Rich,” “The Psychology of Money,” “I Will Teach You To Be Rich,” “We Should All Be Millionaires,” and “Rich Dad, Poor Dad.” I meticulously studied these works, taking notes and revisiting them daily to internalize the profound mental, emotional, and financial lessons they imparted, thus shaping my own approach.
Furthermore, I recognized the profound impact of my environment on my success trajectory. It’s essential for aspiring entrepreneurs to curate their surroundings deliberately, surrounding themselves with positivity and inspiration while distancing from negativity. This conscientious selection of influences and associations profoundly influences one’s journey towards success. So, if your current circle is not business oriented, business owners, growth seekers, or anything of that nature – then you need to find your “business savvy tribe”. Check Eventbrite for networking event, research people of influence in your industry and look for groups that participate in local meetups. You will find those people who can relate to the person you are becoming there.
Contact Info:
- Website: https://www.powfinancialservices.com/
- Instagram: pow_financialservices
- Facebook: https://m.facebook.com/p/POW-Financial-Services-100040194792609/
- Linkedin: https://www.linkedin.com/in/maresa-scott-ctp-93916a124
Image Credits
Tania Stewart Images Composed