TS Prosperity Group acquired Collins Consulting Services, a tax and account firm several months ago. Today, we wanted to sit down with Norm to learn more about his life and the successful company that he created. Collins Consulting grew from a part-time gig for Norm in 1970 to a company with seven employees that serves clients across Iowa and Nebraska. Continue reading to learn more about how he started the business, his passion for both the Underwood and Treynor communities and what inspires him.
Norm, what did you do prior to starting Collins Consulting Services?
I grew up in Underwood, Iowa and went to Underwood High School before heading to college in Omaha for accounting. Initially, I worked for Kewitt Corporation for 10 years as in payroll management and sales tax. After that I spent three years working for a CPA firm in West Omaha overseeing their accounting and managing support staff. Additionally, I worked for Commercial Federal Bank for 10 years managing payroll, human resources and training.
What brought you to Treynor?
My wife, Donna, graduated from Treynor High School and I moved here over 45 years ago. We enjoyed small town life and having a sense of community with our friends and neighbors. All of my children graduated from Treynor.
What year did you start Collins Consulting?
I began doing taxes part time on the side in 1970 and the business kept growing. Then I started Collins Consulting in 1993 and began working on the business full time.
Why did you want to start your own business?
I found that the demand for tax services grew and grew. For a while I was averaging 500 tax returns while working part time. The demand was so high that I knew I had to go full time with Collins Consulting.
How has your business grown and why do you think you are successful?
Word of mouth. We pride ourselves in great client service and the word has spread. I think we are successful because of our focus on service and our low fees.
What motivates you?
Having new clients. I’m kind of competitive and I really enjoy it when people chose my company over our competition.
How many employees did you start with?
In the beginning, it was just my wife Donna and I. We have grown to five full time employees and three seasonal part time employees. We moved into a larger office space fifteen years ago.
What do you enjoy most about owning a business?
The personal and financial Independence along with being able to plan my own work schedule.
What is your biggest challenge?
How quickly the tax world changes. Having the majority of our work due January – April. It keeps us busy for sure.
How do you maintain a healthy work life balance?
I’ve always been an early riser and this helps me stay on track!
What was your biggest life lesson?
My son was and is my hero. He was born with a medical condition that was life-threatening but lived much longer than our doctors expected. In the end, he decided to stop treatment and enjoy the years he had left. Seeing him make that choice was very inspiring.
Trent actually worked for Collins Consulting for three years. My oldest son, Tim, is a Chef at DC Center. My daughter Kristine is a teacher at Lewis Central.
What advice would give to other people interested in starting their own business?
You should be willing to work hard and put in the hours it takes to provide good service.
Why did you choose to bank with TS Bank for all of these years?
I think their values are similar to mine and my company.
How can someone contact you?
Call us at 712.487.3853 or email me at email@example.com.
In August of this year, TS Prosperity Group acquired Collins Consulting Services. The company and its employees are now located within TS Bank in Treynor, Iowa.
Norman Collins has owned and managed Collins Consulting Service for over 40 years with experience in individual, corporate, partnership, non-profit and estate tax returns along with accounting and payroll. Norm also worked for several years with a large construction company, a bank and a CPA firm, all in Omaha. With these firms, he managed accounting, payroll, sales tax, subcontract, employment and benefits departments. Currently Norm is Treasurer for his church, Vision Treynor Group Inc., and 4 Corners Days Celebration Group, and along with wife, Donna, he organizes Treynor’s annual celebration. In his spare time, Norm enjoys watching his 4 grandchildren in their school activities, watching sports and working in the yard.