Starting a business is a big achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many standard challenges that face every business whether they are large or small. It is not easy running a company, especially in a fast-paced, ever-changing business world. Technology advances, new hiring strategies, and now, political changes coming with the new administration, all add to the existing business challenges that entrepreneurs, business owners, and executives have to deal with.

Maximizing profits, minimizing expenses and finding talented staff to keep things moving seem to be top challenges for both SMBs and large corporations. We have been interviewing companies from around the world to discover what challenges they are facing in their businesses. We also asked each company to share business advice they would give to a younger version of themselves.

Below is our interview with Grapeson Wilson, Founder and Principal Accountant at Grapeson M. Wilson CPA, LLC.:

What does your company do?

We are a Next Generation CPA firm offering a wide variety of services that include individual & business tax planning & preparation, tax resolution, real estate taxation, compilation of financial statements and accounting for small to medium size business etc. Our signature services like Business Start-Up Consulting, Mastermind Group (Business), Business Mentoring set a new approach that is tailored toward the millennial generation. These service packages are featured with upfront fees to avoid any confusion in the pricing unless there is a major change in the business scope. Our cost-effective Tax Audit Protection Plan shields the clients in case of an audit or examination from the taxing a uthorities. We are a Houston based CPA Firm in the state of Texas with offices in Fort Bend County and Harris County. It has been our pleasure to serve our highly satisfied customers for more than 7 years with integrity, and accuracy.

What is your role? What do you enjoy most about your role?

I am the Founder and Principal Accountant of the firm. Being at the frontline for shielding my clients' tax reporting, I offer technical expertise, personalized strategies and proactive business advice with the highest quality to make running a business easier. My pragmatic approach to highest professional and ethical standards enables me to deliver client-centric results. My highly satisfied clients are the barometer of my success. Being a constant support and tax advisor to their unique issues in their business, I've seen my clients turn their dreams and vision into reality. I'm driven to deliver measurable results with integrity, exceeding my clients' expectations.

What are the biggest challenges in your business right now?

Nailing down the enactment of New Tax Reform “Tax Cuts and Jobs Act of 2017” to small pieces and translate that into the language of an everyday American is the challenge we face right now. This law will touch every nook and corner of the country and feel the effect in the coming months & years. Small to medium size business owners, families who are trying to get their head around on the new t ax reform can benefit from our video subscription offered for FREE by our Firm and better equip them to face the realities.

If you could go back in time, what business advice would you give to a younger version of yourself?

Technology has shifted the way we operate, market, process and run the business. Working smarter is always better, but do not think public accounting is like that. If you want to move up on the ladder, you should always be a self-learner. Public accounting involves a lot of learning throughout the career to cope up with the changes that happen in the industry and long hours of hard work to meet the deadlines. Neither overspending nor underspending but balanced spending in the right manner is inevitable for the success. There will be new challenges and milestones to be tackled to climb up your career ladder.