We had the good fortune of connecting with Mitchell Tulloch and we’ve shared our conversation below.
Hi Mitchell, do you disagree with some advice that is more or less universally accepted?
The one piece of conventional advice that I disagree with is to build your service based business before quitting your job. I personally tried doing that for three years and it did not work for me. My clients needed me during the hours when I was at work, I could only work late evenings and weekends in my business. I lost a lot of potential clients because I was not available during the hours they needed me. There are some business you can build while working full time hours at a job. A service based business is not one of them. I knew I had to make a decision if I wanted to grow my practice and create a profitable business. I started planning and the best solution I came up with was to start saving so that I can have one year of expenses saved up to cover my household and my business. It took a lot of sacrifice, and it was well worth it. In my fourth year of not seeing much of an increase I decided to step out on faith and go full time in my accounting practice. Part of the plan was to be debt free when I made the transition. There was no way I was going to make that happen with the income I was making and I knew I had to do something different. In my first year of going full time in my business, I was able to triple my clientele and had over 200% growth in revenue. In business you have to make tough decisions and work hard for the life you want and your freedom to do what you want, with whom you want and when you want.
What should our readers know about your business?
My practice is an accounting practice. The name of my business is Anytime Tax Services Inc. Some of the services offered are Tax preparation for individuals, small business and corporation, payroll, tax planning, bookkeeping, business analyst services, business coaching and business formation services. Anytime Tax Services was created with my clients in mind, what I noticed in the industry was preparers trying to get their clients back the most refund by adding false information on their tax return and not preparing the return with the clients in mind. In order to serve my clients I focus on the client, what they are trying to accomplish, I ask questions to ensure I am preparing the returns based on the clients needs. In my practice my clients are family and I always try my best to do what is best for my clients. I am proud of the retention rate of the practice and being able to educate my clients so that they feel like a part of the process and are able to make educated decisions about their finances. I got to where I am today because I took a chance on me, I just wanted to help others the way I wish someone would have helped me. I had to put in the work, learn new skills, adopt to changes easily, learn to manage my time and say no. It was not easy, some days are very challenging. I overcame the challenges by staying focus, asking questions, seeking assistance from others in my industry, managing my time and learning everyday. The lessons I have learned are I have to follow my heart, stay focused, never take advise from people who have never done what I am trying to do, be honest, do everything to the best of my ability and always be teachable. It is possible to create the life and business you have always dreamed of.
Any places to eat or things to do that you can share with our readers? If they have a friend visiting town, what are some spots they could take them to?
My favorite spots to eat are Ru Sans Sushi and Seafood in Atlanta, The shaking crab in Buford and Siams in Decatur. The sites I would take my friends to visit are Centennial Olympic Park and Lake Lanier. For a drink and to hang out Chateau Elan Winery & Resort.
Who else deserves some credit and recognition?
My greatest support was my family. They were always encouraging me even on the days when I was doubting myself. My Mom would always say baby it will be ok. My Dad was always encouraging me. My Uncles supported my business from day one. My siblings always had my back and were very supportive of my business, my dreams and the choices I made. Family is very important to me and I have a great support system.