Author: Wanessa Polo, BSU student
John P. Kolentsas financial services is named after the owner John Kolentsas. John served for three years in the Vietnam War right out of high school. Coming back still very young, trying to figure out what to do, his friend Nick advised him to go to a junior college. Still unsure of his path he decided to major in Accounting with his friend also named John at Quincy Junior College for about a year and a half, took a summer semester at Massasoit, then both transferred to Suffolk University where he earned his bachelor degree in Business Administration with an Accounting concentration.
Right after graduation, he worked with a large CPA firm for about two years but then decided to join a friend who had a small CPA firm in Boston. After three or four years in public accounting, while generating clients preparing the tax returns, he went to the private sector as an auditor for about 4-5 years. Meanwhile, he was building up clientele in the accounting field and was building a real estate rental type of business, then he decided to go on his own 30+ years ago. Although his real estate business was growing too to some extent, his hurries were in accounting. Mostly doing individual taxes (1040) clients and few business clients when he started but grow very quickly.
John shared that starting this business or any successful business, you must be ready to work. The 9 to 5 five days a week was no longer applied to him. He worked as many hours that he needed to get the job. To John, the important thing was and still is to be good to people. Clear communication, honesty, and a good relationship are great tools to connect and build trust with clients. Being openly transparent, providing total disclosure and being himself contributed to his success. His advice was no playing games with people, always put your real card on the table right away so you don’t run to any surprises. John serves his clients with respect. He feels like his clients are the boss and he is there to serve them. Most of his clients are generated from mouth to mouth. No matter how he feels or what is going on in his personal life, John shows up every morning with the mindset to serve.
As a self-employed person, he knew from the beginning that he must be prepared to work. Over the years, challenges with the long working hours and balancing his family occurred. Yet family is number one for him, even with his employees. John says, “When self-employed you create your own opportunity.” The accounting business has his peak, with the 1040 clients cash flows increases from January to April and make enough to sustain yourself. Over the years, he had also built payroll, tax consultant, and corporate and partnership tax return.
Since he learned to connect and be accountable to and available to his clients, through referral is how he generated new clients. John is confident that if his computers break down that will be full in business and go back to sharped pencil and paper to serve his clients. However, the internet help cut down the work process and all is mostly done through the internet. To extend the company, John thinks that he will need a partner with equal knowledge in tax preparation like a CPA or enroll agent because he can only service his clients with the amount of time he has.
Five years from now, John is looking to work less hopefully with a partnership that is will to buy 49% of the business until John can’t physically work anymore. With the agreement that even after that he can come and help during tax season.
Visit John P. Kolentsas Financial Services at:
19 Beaumont Ave, Brockton, MA
Contact them via telephone at: 508-584-0030