even closed the office for an afternoon during tax season to come down and cheer Olson on during the 1,000-mile Yukon Quest race. Ryne Olson, meanwhile, found an accounting job that allows her to take a sabbatical during the spring-yes, including the peak tax season-to train her Alaskan huskies for races. “At some point, I’m going to have to choose,” he said. Still, both endeavors combine for long days and increased stress. Plummer’s bosses (and spouse) are flexible and supportive and allowed him to cut back his hours. For now, the situation allows him to nurture his dream while maintaining a steady income. Corley runs his company full time, but Plummer spends part of the week working at a public accounting firm. “The big thing for starting any business is you have to know your customer,” Corley said.Īssess your situation: Once you decide to go into business, figure out if you can slowly transition away from your CPA job. He also spent significant time interviewing the doctors who would use his technology, though he wishes he had done that even more. For him, that represented a solid market ripe for the technological opportunities offered by his site, which he likened to a for buyers and sellers of medical practices. He realized a radical shift was occurring: Baby Boomer-era doctors were ready to retire and sell their practices. After earning his CPA, he worked in corporate and large-firm accounting with positions that focused on health care. Tony Corley of Nashville did extensive research before launching Healthcare MarketMaker in early 2013. Is there a need for your product or service? As Plummer put it, “You can be passionate about typewriters, but if everybody uses a word processor, there’s not an opportunity to sustain your business.” In his case, Plummer found a market for gourmet ice cream with unusual ingredients-including Lucky Charms cereal and crispy chow mein-served from a custom camper pulled by a restored 1965 Ford F-100. Research the market: Once you cement an idea worth pursuing, assess market opportunity and viability. He loves making frozen confections, but, as he pointed out, “if people don’t want to eat my ice cream, that’s a problem.” ![]() Passion on its own isn’t enough, Plummer said would-be entrepreneurs also should make sure they have the necessary skills. But he also loves making and selling gourmet ice cream, which led him to found the food truck Two Roosters Ice Cream. “You’re exposed to all the leadership, the management part of the whole business and it gives you some credibility that you know the numbers.”Īre you one of those CPAs interested in starting or running your own business? Before rushing into the thrill of the unknown, consider this advice:ĭiscover your passion: Plummer, a Raleigh, N.C., resident who earned a master’s degree in accounting from N.C. “People see you as having a vision,” said Ron Siwa, a CPA and one of the owners of Roloff Construction Inc. He says many Millennial accountants are asking themselves how they can be a CPA and pursue other dreams at the same time.Ĭombining the hard-won credential with more creativity is possible, and the accounting background provides a helpful leg up for budding entrepreneurs or even those who want to invest in an existing business. The trend is particularly strong among Millennials, an age group that doesn’t always want the 9-to-5 jobs that appealed to previous generations, said Jared Plummer, a 32-year-old accountant-turned-entrepreneur. Many CPAs find success practicing accounting for large firms, companies, or even themselves.īut some CPAs are breaking that mold and finding ways to use their backgrounds in creative businesses that include everything from creating tasty treats to racing packs of dogs across frigid terrain.
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