Today we’d like to introduce you to Richard Mastrocola.
So, before we jump into specific questions about the business, why don’t you give us some details about you and your story.
I grew up in Everett, MA, one of six children, where education was heavily emphasized. When I entered college at Salem State, business administration was something that I was really attracted to because it was exciting and interesting. I graduated with a degree in Business Administration, with a concentration in Accounting, and my goal was to one day run my own company.
I had a very significant mentor in my father. He was a floor covering contractor. He had a great influence on me being aware of what’s important. You need technical knowledge because you “can’t sell from an empty shelf” and business development to look for opportunities, get out there, and grow your business.
I started my career at Tonneson + Co in 1975 when there were six people in the firm, and I was an entry-level staff person. Within five years, I became a shareholder and grew the business, with other shareholders, to a firm with nearly 100 people. Our emphasis has always been on closely-held family businesses. We make it a priority to know their business and to be a resource for accounting matters, tax matters, and general advisory services.
Overall, has it been relatively smooth? If not, what were some of the struggles along the way?
Like any business, competition has always been tight. There are a lot of good competitors in the marketplace, especially being in Boston, and we enjoy competition. Having good competition keeps an organization sharp and forces you to be better at what you do.
I would say that the biggest struggle has always been finding the right people for the right positions at the right time. That challenge existed in 1975, and it still exists in 2018.
Every business faces day-to-day challenges. It’s not the day-to-day challenges that should make you concerned, but it’s what you do next that matters. Having a forward-thinking mind is incredibly important for anyone starting, maintaining, and running a business.
Alright – so let’s talk business. Tell us about Tonneson + Co – what should we know?
Tonneson + Co is a certified public accounting firm that provides privately-held businesses, nonprofits, multi-family offices, and individuals with tax, audit, and business advisory services. We have become known for giving trustworthy counsel that genuinely has our clients’ best interests in mind.
Our firm of nearly 100 employees is headquartered in Wakefield, Massachusetts, and we have additional offices in Boston and in Columbia, Maryland. Tonneson + Co is an independent member of the Geneva Group International, one of the world’s leading global alliances of independent law, accounting, and consulting firms.
There is strong competition in the Boston market, and I have found that the way to differentiate your company is in how you relate to your clients and the quality of services that you provide to them. Having a keen sense of interest in our clients’ success is an extremely important part of what makes us successful. We value the people we do business with, respect what they have accomplished, and constantly learn from them as our relationships develop.
What I am most proud of are the people at Tonneson + Co. We have very talented, entrepreneurial people.
What has been the proudest moment of your career so far?
I’m most proud of having created an employee-empowered company. In 2012, I started to see a change happening in the workforce. Culturally, in order to be successful, you have to empower all the resources available to you to make a company successful. You realize, you can’t do it yourself. You have to rely on people, and it’s unfair to rely on people if you don’t empower them. Working in cooperation with people in Tonneson + Co has really been very rewarding to me. That’s what I enjoy the most.
Contact Info:
- Address: 401 Edgewater Place, Suite 300, Wakefield, MA 01880
- Website: http://www.tonneson.com/
- Phone: 781-245-9999
- Email: info@tonneson.com
- Instagram: https://www.instagram.com/tonnesonandco/
- Facebook: https://www.facebook.com/TonnesonCo/
- Twitter: https://twitter.com/TonnesonCo
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