SOTM – ReFresh IT: How Layoff Inspired Two Co-Workers to Start Their Own S Corporation
Editor note: This post is part of our business owner of the month series, where Incfile highlights a different business owner from a variety of different industries. These owners will share their insight to inspire other entrepreneurs. To make your own entrepreneurial journey successful, consider getting your LLC with Incfile.
Almost everyone relies on technology every day to run our lives and our businesses more efficiently. Luckily, we can also rely on people like Jacy Smith, one of the founders at ReFresh IT.
Jacy has always been fascinated with technology and the impact it has on our lives. Her mission through ReFresh IT is to implement technologies that make things better for everyone. ReFresh IT uses the most up-to-date devices and solutions to increase efficiency, streamline processes and reduce costs for business owners.
1. What made you decide to start your business? What need did you see it fulfilling?
JS: My business partner and I decided to start our own business when the hospice management company we were working for closed. We wanted to continue offering IT support services to businesses who needed the help. Originally, we were going to stick to hospice IT since that’s what we knew best, but our business has now grown significantly outside that vertical. We currently provide services to all types of businesses regardless of the number of employees and industry.
2. What type of business entity do you have (LLC, S Corp, etc.), and why did you choose it?
JS: S Corporation; our CPA advised that it would be the best model for us.
3. What has been the hardest challenge as a business owner, and how did you handle it?
JS: I think one of the most difficult challenges of being a business owner is finding answers to questions relating to finances and taxes. Thankfully, we have a really great CPA who has helped us along the way. I’m not an expert in finance, but I have a very supportive firm that specializes in small business. It’s really easy to get off track quickly when dealing with money.
4. What have been the best parts of owning your new business, besides working for yourself?
JS: One of the best things about owning a business is seeing the impact you have on your customers. IT is very much an operational part of our clients’ businesses, and it’s really great to see them expand and grow. We focus on finding solutions that are appropriate for the business, so they can function and operate the best possible way. This helps put them on the right track to stay organized and scale.
5. What advice would you give to new business owners?
JS: Hire experts on subjects you need help with in your business from the very beginning! There are a lot of laws and regulations that could change something you do in your business or the way you want to operate. Make sure you find a good CPA, a knowledgeable lawyer and other experts on subjects who can at least help guide your decisions along the way. It’s important to set a good foundation when you’re just starting out.
Are you a business owner looking for IT help? Are you concerned about overall costs and trying to implement strategies to grow your business? ReFresh IT can help scale your business through strategy development, information technology consulting, efficiency improvement, and web 2.0 integrations. You don’t have to go down the path alone. ReFresh IT is there to help you every step of the way. If you are interested in learning more about ReFresh IT and how they can help your business, please reach out via their website, Facebook, or on Twitter.