As a professional in the practice of giving advice, Jim knew when he had to ask questions, too. He called a lawyer friend of the family who owned a cleaning business at the other end of the country and was suitably cautioned, “It’s very competitive, and you don’t make much money. You'll have to succeed on volume. You’re an accountant—crunch some numbers on what you expect!” Jim also talked to his family and peers at work, finding out that people who used cleaning services were primarily working couples or the elderly. Finally, he used the services of a local university marketing class to do some market research for him. This was totally new for Jim —as an experienced auditor, how could his skills help him in running a cleaning business?
REQUIRED
How is running a public accounting business similar to running a cleaning business?