My brain went into overdrive, bursting with ideas and creative fuel. I had butterflies in my stomach and that pep in my step similar to the one you get after a great first kiss (the PG-13 kind).

I wrote all my ideas down.

• Announce it to the world!

• Post your new “job” on LinkedIn!

• Wait, looks like you need a business page so it looks legit.

• Done.

• Wait, that looks basic. You need a logo to go with your page.

• Hello, Canva. Here we go!

• Update your experience on LinkedIn.

• Make a post about it!

• Reach out to people in your network.

• You need a website.

• You have no idea how to put together a website that doesn’t look like it was created by kindergarteners.

• Figure out who can help you build a basic website.

• Post on social media!

• What services do you want to offer?

• What services do you NOT want to offer?

• Who do you want to work with?

• Who do you NOT want to work with?

The list went on, and it was an important one. It also gave birth to two very important lists.

#1 – A targeted list of people in my network to reach out to personally to let them know I was starting this new venture.

#2 – A list of all the projects I had worked on and the clients I had worked with throughout my career.

Both of these lists are the ones I revisit often.

The first list had the purpose of reactivating or nurturing existing relationships and kickstarting word of mouth. These are the movers and shakers that can help you on your way up because they’ve either helped you before, have done the thing themselves, or have offered to help you when you need it most. The best part is many of them are already your fans! Here’s what my list looks like:

• Past colleagues and peers

• Past clients

• Mentors

• Friends who are also business owners

• Past vendors/service providers from my time in corporate (think bankers, consultants, advisors, payroll providers, commercial insurance agents, etc.)

The second list has helped me in multiple ways. I have been able to take inventory of all the things I’ve helped clients achieve through my services. It’s put into perspective my expertise and reminded me that I have accomplished big things and that I really am badass. It’s given me clarity on the type of work I enjoy, like accounting and consulting, and the kinds of things I despise, like audit, payroll, and taxes. It was the foundation for messaging and my service offerings.

I would like to say it helped me get to a good place with my pricing, but that’s a work in progress… as in, I’m not quite there yet. But I will say it does keep getting bigger and it helps push me towards pricing and positioning that are consistently better aligned with the value I bring to the table.

Seeing how the lists and to-dos kept growing, I brought out my blackboard calendar. Very rustic of me, I know. At the time I needed something that was straightforward and always visible. I needed to keep the momentum going but also make it fun and not have it feel like a chore. I set a goal for myself to complete two tasks each day and the calendar helped me stay on track.

Because of these lists and my magic blackboard, in one month, I had:

• Created a logo and launched a biz page on LinkedIn

• Announced my new venture to my LinkedIn network and received my first few congratulatory emails

• Joined two networking groups

• Landed my first two clients. Yes, read that again. In less than 30 days, I landed my first two clients. All from reaching out to my network at the time. And they both were quoted at the right scope, for the right rate. If I could do it, so can you.

• Found a website designer

• Built my first packages

• Opened my business bank account

• Bought my E&O insurance

• 15+ connection emails, calls, texts, and in-person networking meetings.

• Created my first pieces of marketing content

That’s a lot of talking about myself, isn’t it? This is my first time building an official business, so the only way I can talk about it is from personal experience. Most importantly, the reason I’m writing all this is YOU. So let’s go back to YOU for a second.

There are a few questions, and statements, that come up over and over again from accountants thinking about venturing out on their own. How do I start? Where do I find clients? How long does it take to find clients? I don’t know how to sell/market myself/network/do biz dev. I don’t think I can hold myself accountable or stay focused on my own. I don’t have a lot of money to start. Here’s what I can tell you.

You don’t have to have it all figured out to start. You also don’t need a ton of money to do so. If you don’t know where to start, I just gave you my exact playbook. It’s not perfect, but it yielded results for me. There’s no guarantee it will yield the same results for you, but I promise you it will yield results. The shortest amount of time it could take is a month, from what I’ve seen. The longest it could take is 90 days. You just have to show up for yourself, nobody else, consistently.

At this moment in time, you are not selling anything. You are making connections and building relationships. Come prepared to give first, and I’m absolutely not talking about doing free work. I mean facilitate introductions to other people in your network when it makes sense. Ask people how you can support them. Many of them will have a specific ask or will brainstorm it right there with you. And be prepared to answer the question when they ask how they can support you. Here is where you ask for the referral, for introductions to others in their network, and inquire about speaking opportunities or networking groups.

Lastly, accountability doesn’t have to feel like a straitjacket. Use a tool that feels naturally good to you. It might be voice notes. A piece of paper stuck to your fridge with a magnet. A blackboard. The notes app on your iPhone. Text messages to a friend who’s also building something. It might even be a friend who’s not building anything but is excited for you and cheering you on. I know I had one friend who made all the difference during that time, and she still does to this day.

The point is, my friend, if I could get started so can you. My hope is that my story helps inspire you and guide you while you find your own footing.

Thanks for reading,

Melissa

I had the hot girl summer of a lifetime. Flew out to Europe twice. Once to visit some of my dearest friends in NYC, England, and Portugal. Later for a two-week solo vacation in the south of Spain, where I spent my days beach hopping, eating gazpacho, and sipping wine.

At work, I was successfully managing the two largest client engagements of my career and surpassing all my targets. And I still felt like something was missing. Something was not enough. I was part of the best professional team I’d ever been a part of and reported to the best leader and mentor I’ve ever had and I still felt unfulfilled.

Truthfully, I was resentful of the work. The hours, the pace, the demands of the job were no longer a fit for me. I had spent my entire career working hard, showing up, staying late to meet too many impossible deadlines and often unrealistic expectations imposed by the public accounting “work hard, play harder” hustle culture of which I had been a proud proponent for almost two decades. When the opportunity arose to join a client’s in-house team I said yes. This was my shot at a different approach to career and success.

Except something felt off here too. The expectation of long hours and unsustainable deadlines was also there. The career and the job hadn’t changed. I had. I was no longer the same person willing to put up with these things. My soul was tired, but my body was tired too. Sitting at a desk for long hours was no longer sustainable, but it was what the job demanded. People took notice of my change. Most importantly, I took notice as well.

Looking back there were other signs Peri was making herself known. Brain fog and difficulty concentrating and sitting still made an appearance for the first time. My anxiety got so out of control that I finally had to acknowledge its existence in my life after the third time it landed me in urgent care almost certain I was having a heart attack. Don’t even get me started on the fact that for the past six or seven years I’ve kept the temperature in my house at a toasty 65F and still manage to sweat bullets at all times of the day and night.

If you’re still reading you’re probably wondering why the overshare. It’s simple. I wish someone had talked to me about these things before they started happening. It helps me self-regulate when I know what’s going on. It would have also helped me skip, or at least shorten the life-cycle of the shame and guilt spiral I went on. When I have the words to communicate what I’m experiencing, I can frame it in a much more practical context and work towards helpful resolution or at least coping mechanisms.

A lot of women like me are starting their accounting practice journey during this same season of their lives, or are thinking of heading in this direction. I know it because when I share about these things, they tell me it resonates, they feel seen. I have not figured it all out. I’m already in my third season this year where in Q1 my personal tools for managing Peri were not working. I adjusted, it got better. Then it got wildly worse. Now I’m back to even better than before. And all this impacts my daily work life and how I navigate it in response.

My promise to you is to share all the tools I use to help me in this journey, both in business and in life. From the tech to the OTC supplements, I plan to share it all in the hopes they can help you too. Use what you like, discard what you don’t, and pay it forward by commenting on these posts and sharing this newsletter with a friend who might need it too.

With love,

Melissa

Remember those 30 days I told you about? The ones when I paused to think about what I really wanted? Don’t dismiss them, they are important. Even if you’re still working because you need the income a while longer to pay the bills, take the spirit of those 30 days and put it to good use.

During my 30 days of making no decisions I slept like I hadn’t slept in a long time. I rested. I still got up early every day because I didn’t want to go to “waste”. I showered, kept the house tidy. I got out of my pajamas and into actual clothes. I watched TV on the couch, not the bed. I watched the entire Chicago Fire and Chicago PD franchises. I napped. In between all this, I also did a lot of thinking. I thought with my brain, and I listened to my heart.

Some controlled research also took place. Remember the recruiters from my previous post? I spoke to them during those 30 days. Joanna was a referral from an ex-coworker who found out I was without a job. I found Jess on LinkedIn from a job posting she was recruiting for. I also did a little outreach on LinkedIn to find out how the job market was moving and what was out there.

During those 4 weeks I was in reflection mode. I shared my story about being in between jobs, but I mostly listened to what the Universe was saying and what my heart was telling me. This deep dive into my soul was the most important piece of the process because it centered me fully on my decision. Despite all the uncertainty that lay ahead, I knew I was aligned in my chosen path and that has proven repeatedly to be the saving grace in this journey of business ownership.

The last week of July my mentor, friend, and old boss at Plante Moran, bought me some drinks. While sipping margaritas I told her I was thinking of starting my own thing. She was genuinely happy for me and immediately proceeded to share ideas, tips, and tricks. But my mind had been made up even before I told her I was “thinking” about it. And this matters more than you think. People around you will have all sorts of thoughts and ideas about what you should do or not do and how you should do it. Being centered on your choice is the only way you’ll be able to cut through the noise (and there’s a lot of that). Just make sure you give yourself a deadline to decide. Otherwise, you’ll be thinking about it forever.

I went home that day and immediately got the ball rolling with the excitement of a little girl writing a letter to Santa. Here’s what I did:

1. Apply for a business registration and an EIN – This is easy and something you can do yourself. I, however, chose to hire the services of a registered agent for two reasons: the first is that they help me stay compliant every year by handling the annual periodic report on my behalf. The second reason is that your business registration becomes a matter of public record the moment it goes through, so things like your business address and phone number are now listed for everyone to see on your local Department of State’s website. Having a registered agent means you can protect your privacy, especially if you work from home, by listing their address and phone number instead. I used Northwest Registered Agent and they have been phenomenal.

a. CPAs engaging in tax and attestation services are most likely required to apply for a license to practice as a CPA firm in your state. The application-to-approval process takes a while, so make sure you get started on this process as soon as possible.

2. Tap into your network – This one is HUGE. Connect with other accountants running small or solo practices. They will become your community and your support. Business ownership can feel lonely for anyone, but it doesn’t have to be. If you’re in Colorado, I recommend The Bailey Group and the COCPA Independent Accountants Alliance. If you’re NOT in Colorado, stay tuned because I have other resources to share in upcoming posts.

3. Manage your risk – You’re playing in the big leagues now that you’ve gone solo. It’s important to make sure you’re protecting yourself or are at least waging the risks you’re willing to assume. Here are the first three I identified and how I managed them.

a. Risk of being sued for malpractice - I bought E&O Insurance (errors and omissions) through Camico. Both the AICPA and your local CPA society partner with a variety of vetted providers you can choose from. I also sign an engagement letter with all my clients. Camico provides EL templates you can use and they also update them frequently as the landscape changes and new risks arise (like with the use of AI, for example).

b. Cybersecurity risk – I also chose to hire outside support for this one because I barely know how to turn on my computer. The service is a lot less expensive than you’d expect. My chosen provider is Imperitiv Solutions and they have helped me with everything from purchasing the right computer equipment to keeping my system secure and running smoothly.

4. Create Your Digital Executive Presence – This is one many have skipped in the past and it was okay. Nowadays, with how much more business is conducted online and the increasing number of discerning clients out there, it’s important we cultivate our executive presence online. And I don’t mean wear a business suit on all your headshots. But I do mean get professional headshots done. Skip the AI ones. Invest in your own domain. No boringaccountantme@gmail.com email addresses, please! Don’t be cheap. Get yourself a branded domain and email address so that people know you’re serious about running a serios business.

On the next post I’ll tell you about my preferred banking solutions and why I chose them. I’ll also share what I did to officially launch my business and what I’d do exactly the same way if I was starting over and what I’d skip.

I’d also love to hear how you decided to go into practice ownership and if your first few steps were any similar to mine or wildly different.

Grateful to have you here,

Melissa

“Do you have any feedback for me?”

“No.”

Of course he doesn’t. You know better than to ask a question he can’t answer for all sorts of legal considerations.

But also, you know. You yourself said that if there was a thing that could cost you your job it was “this”. And you are okay with it.

Still. This is the first time ever you’ve been let go from a job. Sure, there was that one summer telemarketing job you never got invited back to do again. And you were definitely not sad about that one.

And yet, back then it was a low stakes job. One of those you do while in college to get out of the house and make yourself enough cash to fund your summer adventures while you wait for the fall semester to start. I doubt anyone really goes into telemarketing looking to make a career out of it. You certainly didn’t.

This, though. Being let go from an executive role seems big. A defining moment in time. Yet you only shed a combined total of 10 tears that day. At most. A few with your old boss and mentor (the same one you abandoned to take this job). A couple more when you told your coworker. And a whopping three tears when you went to bed that night. Three. You were hoping to let it all out but your Prozac said absolutely not. Not under my watch.

Prozac may have turned me into a heartless tearless bitch, but that’s a story for another day.

The Money Maker

This is the part of the story where I give you, my readers, the goods. Before I do, I will also tell you I know this next part is a privilege and not everyone is starting their solo practice journey from this position. I know this well, and I also know my journey and decision-making process would’ve been wildly different if it were not for this.

Let’s go.

I don’t come from money. I do come from a middle class, working family whose parents were able to put their children through private school before they lost it all. Every single cent I own I have earned and accumulated on my own.

My corporate executive role came with significant compensation that was life-changing for me at the time as a single woman with no human children (I have 2 cats). When I was let go, I had a healthy emergency fund, retirement savings, no car loan, and very little credit card debt. I also received a severance payment with my separation agreement.

The severance payment was nothing out of the ordinary. Pretty standard but, because my comp was decent, the payout was significant for me. Between this payment and my own savings, I had about 8 months in funds available to support my cost of living without tapping into my retirement savings. I also had excellent credit and substantial personal credit available that afforded me freedom and flexibility to leverage my cash.

With all this at my disposal, I was able to:

• Take a full month off to really process what had happened, be in my feelings, and decide what I wanted to do next.

• Really take the time to weigh my options and think from a place of gratitude and alignment and not from anxiety and crisis.

Once I landed on the decision to start my own practice, I knew I had gotten there for the right reasons. Many of the decisions that followed came easier because while I felt fear, I was not operating from it. I was acknowledging it but recognizing I was completely separate from it.

During that month of unemployment in July 2024, I spoke with only two recruiters about exactly three hand-picked roles. That’s it.

The one I was truly drawn to was an interim controller position. Why?

1. Reasonably compensated role, close to what I was making in corporate just a few weeks before.

2. It sent a signal to my brain and my ego that I was still desirable, without having to decide immediately about any long-term commitments. It also reminded me that there will always be work in this industry.

3. I could make decent money while also working on the back end of my business pre-launch.

If I had to go back and do it all over again, an interim position is exactly what I would choose.

Now, where did I find those interim roles, you ask? Most of them won’t show on LinkedIn, so don’t bother. They just don’t. The best sources are:

1. Your network of peers. CPAs, fractionals, advisors. They get the scoop straight from the horse’s mouth. Reach out to them and let them know explicitly you’re looking for interim roles.

2. Your local CPA society. In Colorado, we have a very active distribution email where members of the COCPA are constantly sharing these types of opportunities.

3. Recruiters/head hunters. I have worked specifically with these three:

   1. Joanna Toro from Creative Financial Staffing - She found me the actual interim role

   2. Jess Ashworth from hyrUP - She talked to me about those two curated, high-profile jobs

   3. Meghan Brunet from Robert Half - She helped me hire a senior accountant at my corporate job

Reach out to them and tell them I told you about them in this newsletter. You’ll be surprised by the number of options out there, both in person and remote.

That’s it! That’s how I made the decision to jump and how I told the corporate world

“I’m letting you go.”

Melissa

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Now in my terrible 40s, I find myself having difficulty locating replacement parts for my overused and malfunctioning filter. Among other things, this has made me quite unemployable. And I’m okay with that.

So when I lost my job as a corporate controller in the summer of ‘24, I knew I needed to do something different. This is how I launched my own solo accounting & consulting practice.

This project was born from that experience and the realization that followed: more and more women out there are ready for something more. Something that is theirs, aligned, fills their cup, and more than pays their bills.

My unfiltered commitment to you is to bare it all and share it all. How I started my practice. How it’s going. How I navigate being a solo accounting firm owner in a single income household. The financial decisions that come with it. The wins. The failures. The actual tools and advisors I have worked with and have worked well for me. The ones that haven’t. I’ll get candid about how I do all this while also navigating my hormones, perimenopause, anxiety, the year of the fire horse, and the 575 planets that seem to all be in retrograde at the same time.

I hope you’ll join me because I plan to bare it all and give you the valuable tips, tricks, and BTS in the off chance starting your solo or small boutique accounting and consulting practice is in the cards for you too.

With love and gratitude,

Melissa

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