EP.22 Having the Right Mindset and Support System as a Business Owner, with Charles Read

In this episode, our guest is Charles Read. As the founder and CEO of GetPayroll, Charles has provided full-service payroll and payroll tax services in Lewisville, Texas, since 1991. Only 86 people in the past 16 years have passed the US Tax Court Non-Attorney Practitioners Examination, allowing him to represent clients in the US Tax Court without becoming an attorney. In today's talk, Charles tells us about his business path and how he handles payroll. Stay tuned!

About the Guest

[00:35]

Charles is a native Iowan who hails from the Midwest. Because he wasn't ready to go to college, he enlisted in the Marines and served for four years. Later, he discovered that military expertise didn't work well in the commercial world. So he went to college, obtained his degrees, and entered the business world.

Corporate World

[02:13]

Upon joining Texas Instruments, he discovered that he was one of many new hires and that his academic accomplishments and college degrees were insignificant in the corporate world. Charles worked for a few different companies before beginning his own.

Charles’ Business

[05:17]

To help the company continue, Charles bought it from a friend and redesigned it with his friend's support. For the first ten years, he realized that there is no such thing as work-life balance for entrepreneurs and that you need a supportive spouse to help you through this difficult time.

Mindset

[09:54]

Entrepreneurship requires a certain mindset; not everyone is cut out for it. Some people aspire to work for the government or have secure employment. But with Charles’ experience in Marine Corps and his family having a business, he grew up to adapt and conquer any conditions, which are the skills needed in the business world.

Payroll

[13:03]

Charles’ business was initially an accounting firm with a payroll sideline. Later, he sold his accounting practice to his partner while continuing to handle payroll. Charles owns a payroll service firm that offers payroll services to small and medium-sized businesses across the country.

[18:49]

One of the most common blunders in the payroll sector is failing to outsource payroll services. Another is paying workers under the table or as independent contractors when they are employees.

Learn more about Charles Read and The Payroll Book at:

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