Member Spotlight: Shannon and Chad
This month’s member spotlight highlights the dynamic couple Shannon and Chad who own and operate Polaris Tax and Business Services on Floor Seven. We’ve loved working with them and getting to know them and thought you would too.
Mary Helen: Give a brief history of your background and education.
Shannon: I’m from Omaha, Nebraska and I obtained my degree in economics, political science and philosophy at the University of Nebraska-Lincoln. A PhD in Economics was my original career plan, so I went to Boulder, Colorado for a graduate program. I didn’t end up staying for the PhD, but I met Chad and we ended up getting married. That was a plus! After that I spent several years in economic consulting and then the health and nutrition industry before we decided to move to Chattanooga and open our own business.
Chad: I’m from Youngstown, Ohio and went to the University of Richmond where I obtained my degree in accounting and economics. For a few years, I ran the accounting department at my family’s business before moving to Colorado where I grew with a local company over the course of 10 years; progressing from a mid-level accounting position to CFO as the company grew from just under 40 employees to over 200. It was an exciting experience and gave me an in-depth understanding of what it takes for companies to grow quickly and successfully — something I’d love to help small businesses achieve.
Mary Helen: What is your company?
Chad: We are Polaris Tax & Business Services and we work with individuals and small businesses on tax planning & preparation, bookkeeping, and CFO services, such as sustainable growth strategies, cash flow forecasting and management, and budget preparation and monitoring.
Shannon: Both Chad and I come from families that ran small businesses and we are a small two-person firm, so we very much understand the challenges of running a small business. It is our passion to help entrepreneurs realize their dreams by taking the worries of taxes and accounting off their plate.
Mary Helen: Is there something that surprises people about the work that you do?
Shannon: It may be surprising that we like to joke around and have fun. We aren’t your traditional accountants that focus mostly on the numbers and less on the people. Our favorite part of the job is developing relationships and making taxes and accounting friendly and approachable for our clients.
Chad: People are usually surprised to hear that we love what we do. For most people doing the bookkeeping or taxes is last on their list and it’s hard to imagine that anyone would enjoy it. While many people tend to fall behind on their taxes and/or bookkeeping, they don’t always seek out help because they are embarrassed or overwhelmed, but it happens all the time and we love working with these clients. Helping people reduce their IRS stress and get an accurate financial picture is really rewarding work.
Mary Helen: Describe the evolution of your company and where you are headed.
Chad: We both come from families that ran small businesses, so it’s always been a dream of ours to be in business for ourselves. Tax and accounting work was the best fit with our backgrounds, so we jumped in. After experiencing what the Chattanooga small business community offers, we are excited to give back by serving as a resource for small businesses. Whether it is helping a company get started from the ground up, doing catch-up work or assisting with growth strategies and cash management, we want to help! Right now, we are working on developing a library of tax and accounting content on our website and in the future, we’d like to offer free local talks for small businesses and individuals on hot button issues in taxes and accounting.
Mary Helen: When do you do your best work or come up with your best ideas?
Shannon: When we are at Society of Work! Being around entrepreneurs and other creative and friendly people every day has helped us understand some of the needs of local businesses and start-ups so we can add the most value and cater our services to them.
Mary Helen: How does Chattanooga and the southeast weave into your story?
Shannon: Chattanooga has made everything possible. We relocated here specifically because of the wonderful outdoorsy and small town environment along with the more affordable cost of living. Once we joined the Society of Work we truly understood what a great decision we made to come to Chattanooga. At SOW, and within the local small business community, it’s incredibly easy to meet people and everyone is very friendly and collaborative. It feels like we are all on the same team.
Mary Helen: What do you like to do outside of work?
Chad: Getting outdoors and traveling are at the top of our list. When we moved from Colorado we lived out of our travel trailer for 5 months, which was fun because we got to explore Chattanooga, a little of the southeast and some beach time in Florida! Trailer living wasn’t a long-term possibility for various reasons, but simple and small living inspires us. We are always brainstorming ways to simplify so outside of work we can spend more time doing what we love like hiking with our dog, traveling, yoga and rock climbing.
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