Today we’d like to introduce you to Lykethia Pierce, CPA, CB.
Hi Lykethia, please kick things off for us with an introduction to yourself and your story.
My love for accounting grew out of a desire to know how I spent my money. I have journals listing my expenses with notes on whether those decisions met my household’s goals.
I acquired formal training in accounting and related concepts at the University of Alabama at Birmingham Collat School of Business. After earning my Bachelor of Science degree, I desired to create opportunities in my career. Therefore, I became a Certified Public Accountant (CPA) candidate. In September 2013, I completed my CPA candidate journey with licensure as a Georgia CPA. I received licensure as an Alabama CPA the following year. I am honored to be a black CPA serving the South. Less than 7,000 Black CPAs exist in the United States of America.
One aspect of my winning strategy is to move on more quickly when situations have strong evidence that things will not work out. After earning my CPA, I interviewed with a local accounting firm. I asked for an annual salary of $50,000. I did not receive any follow-up interest. I also asked my neighbor about positions at local, regional CPA firm. I was told, ‘You do not have any experience.’ I thought about my next steps – to pursue employment (which was not a good fit for me) or try (i.e., to reset you) business ownership.
I opened my company in February 2014 out of a need to experience dynamic work scenarios and showcase my talents. On May 6, 2021, I earned my Certified Bookkeeper designation.
For the past 9+ years, I have provided business solutions like planning, development, growth, and resiliency to entrepreneurs. A few of my accomplishments are below:
I have 3+ years of Outsource Controller Advisory experience for a company that sold at seven figures to a financial institution in 2020. I helped this business true-up its accounting/bookkeeping to make timely business decisions and negotiate a profitable sales multiple. Due to good bookkeeping processes, my client understood their business’s cash flow (and won a deal). This role was a pivot in my career and helped me understand the importance of the sales pipeline. Thank you, Mark!
Before this position, I did not have experience working at a CPA firm. My undergraduate degree was my experience in bookkeeping. Further, a national accounting software developer had a good training program (self-study and in-person). I completed their training. Furthermore, my experience as a CPA candidate prepared me to be an outsourced controller.
A professional should have a plan for when they do not know the answer to a challenge. Think about these questions, how can I use analytical and critical thinking in my career? When will those opportunities likely occur? Discover what professional readiness looks like for you.
I am also a business strategy partner and subject matter expert to businesses and assist nonprofit organizations that work with entrepreneurs. Through my advisory program, I enhance a few of their goals outside of business and accounting like work-life health and peace of mind. Being a part of their team of advisors is an honor.
Another item within my winning strategy is eliminating the gaps in my career. Review the blog “Success Is You!” on www.authenticcpa.com. Success Is You! is the first blog of my career.
It may be cliché to say “cash is king.” However, a for-profit business cannot survive without cash. A founding principle at Pierce, CPA & Advisors is “profit is a business solution!” This truth is a tactic that I impress upon my year-round business clients. Our goals are to run profitable businesses, build community, work-life health, and peace of mind.
Note the below founding principles of my company:
1. Business and Accounting Solutions Simplified for Growing Companies.
2. Making Your Tax Experience Happy.
3. Maintain and Respect Your Craft.
4. Exceptional customer service is non-negotiable.
What’s new at Pierce, CPA & Advisors?
I have solutions for clients like the Business Strategy Partner, Advisory Spotlight, Workshop Facilitator, and Workshop Solution.
I have partnerships with businesses and nonprofit organizations that provide services to entrepreneurs. The name of the workshop solution is Bookkeeping Your Way To A WIN with QuickBooks Online. The meaning is will, initiative, and novelty (WIN). Three keys to winning at business are offering a product/service that clients are buying, keeping your clients’ attention, and exceptional customer service.
Many business owners have inefficacies in their bookkeeping. Many businesses cannot identify problems in a timely way and secure capital funding because of challenges within their financial reporting process. There is an urgency for business owners to understand the “language of business” (accounting) and run profitable companies. My goal is to help businesses save $100’s to $1,000’s with the workshop Bookkeeping Your Way To A WIN with QuickBooks Online.
How did I get to where I am today? I will answer the question with the below phrases:
1. Believe that success is for you!
2. Manage Your Expectations.
3. Networking works.
4. Be confident in your presence.
5. Maintain and respect your craft.
Building a business is a series of decisions involving strategies and tactics. Often, I end a video with the words “Profit is a business solution!” or “Let’s make it happen!” In August 2023, I asked a colleague if she would like to start a networking group. During one of our meetings, I suggested we use an anthem-like phrase “Let’s make it happen…” at each meeting. She liked the idea. Therefore, Let’s Make It Happen! Trussville Networking Group was launched in September 2022. Our group has hosted 50+ attendees at our Business After Hours events. In May 2023, we secured our first sponsors (Valley Bank and Synovus Bank) for an event at a local wine bar. These and other sponsors are looking forward to an ongoing partnership with our groups, building community together. Our momentum is as follows:
We support women by promoting positivity and togetherness.
We gather professionals to share ideas, exchange warm referrals and build community. We make it happen!
Let’s Make It Happen! Birmingham Networking Group was launched in January 2023. Our group has hosted 40+ professionals at our Business Mixers. A few of our successes include complimentary tickets from a local business news publisher to their Leadership in Diversity and Inclusion Series and sales (i.e., closed business) for our members.
In summary, I am where I am today because I have figured out my formula for success and tapped into my social capital, especially my late grandmother (Gama), who believes in me. Thank you!
Would you say it’s been a smooth road, and if not what are some of the biggest challenges you’ve faced along the way?
I had to transition from an employee to a non-employee business owner mindset. Initially, I did not understand the power of networking. I joined a chamber of commerce shortly after I received my Domestic LLC Certificate of Formation for Pierce, CPA & Advisors. I was active in the Chamber of Commerce as one of their ambassadors.
I am the first business owner in my immediate family.
Fortunately, I did not believe the people who said the following:
‘You do not have any transferrable skills.’
‘You should not be a certified public accountant.’
‘You do not have any experience.’
Appreciate you sharing that. What should we know about Pierce, CPA & Advisors? What do you want our readers to know about your brand, offerings, services, etc.:
Accounting is the language of business. Let’s talk about profit and how to turn your business and financial goals into milestones.
I help businesses define, develop and grow their companies. I assist businesses with identifying their value and implementing processes (business and accounting) to operate profitable businesses. We closely monitor our business strategies and internal and external environments. Earning profit is at the forefront of most of our decisions.
I am a trusted advisor. I am an expert. I work with clients year-round.
Think about the following quote. “If you want a different result, you should do things differently.” ~ Unknown
Ask yourself, “Am I satisfied or disappointed with my 1st quarter 2023 Profit and Loss Report? Knowing your financial story is an advantage. You acknowledge the results and move forward with planning, development, growth, and resiliency.
Implement sound business processes. Consider the Business Strategy Partner Solution, Advisory Spotlight Solution and Workshop Solution.
Business Strategy Partner Solution: The Business Strategy Partner Solution is a program for business owners (current or future) who do not have a Certified Public Accountant (CPA) or Certified Bookkeeper (CB) and have business and accounting challenges.
This program also is the first step that Pierce, CPA & Advisors’ year-round clients take in our accountant-client relationships.
Schedule your 15-minute needs assessment today. This session is free: https://calendly.com/
Entrepreneurship is a journey. It can be very fulfilling. Choose Pierce, CPA & Advisors to help you enhance your work-life health and peace of mind. We have solutions that perform.
Workshop Facilitator/Workshop Solutions: Many of your program participants are subscribers to QuickBooks Online but do not use the software properly.
The workshop Bookkeeping Your Way to a WIN With QuickBooks Online helps business owners who use QuickBooks Online and have not had formal training.
This workshop is also ideal for business owners who want to compile monthly Profit and Loss Reports on-demand but do not have the budget to hire a bookkeeper.
Two results of the training are that users will be knowledgeable about the steps to match their bank statement and QBO register and print financial reports (i.e., Profit and Loss) on-demand.
Advisory Spotlight Solution: Are you receiving letters from your regulatory bodies like the Internal Revenue Service and the Alabama Department of Revenue?
Do you have a business process to implement (e.g., accounting system selection, implementation, true-up, or training)?
This program helps you eliminate compliance gaps, implement effective business office workflows, or elevate the performance of your business’s planning, development, growth, and resiliency.
What sets you apart from others?
Pierce, CPA & Advisors is an information resource and growth advocate within the community and on social media via blogs and the following hashtags: Tax Tidings, Our Tax Alert, Tax Grill, Today’s Biz Up, AskAuthenticCPA, Biz Tip For Us, and Today’s Fortify You.
Pierce, CPA & Advisors is visible in the community via its outreach within the Let’s Make It Happen! Networking Groups (Trussville and Birmingham).
I attend ribbon cuttings/grand openings, business pitches, and business mixers. I also work with nonprofit organizations like Urban Impact Birmingham and the Alabama State Black Chamber of Commerce. I assist them and other nonprofit organizations with economic development. We promote success within the Alabama Business World.
I am an honoree of the Birmingham Business Journal’s Who’s Who in Birmingham Accounting 2023 and 2022. Pierce, CPA & Advisors is no. 25 (2023) on the Birmingham Business Journal’s Birmingham Area Accounting Firm.
I am proud of my campaign to educate business owners that “profit is a business solution!” Generally, the Internal Revenue Service expects businesses to be profitable for three years out of five. Let us aim higher by earning profit from year 1.
The best practice is to have a plan and execute that plan well. Consider working with a team of advisors like Pierce, CPA & Advisors. Let Pierce, CPA & Advisors help you identify your formula for success within your business.
Many entrepreneurs romanticize business ownership. We enjoy the recognition given to owners of businesses. As mentioned before, business success often involves executing strategies/tactics, clients buying your products/services regularly, keeping your clients’ attention, and exceptional customer service. The nature of business includes cash flow and profit. Understand this.
I am one of the less than 7,000 black CPAs helping micro-businesses improve their operations and increase their profits by over 50% (for many). We make it happen!
At Pierce, CPA & Advisors, we support your business from the start-up phase to its transition as a legacy or sale of the business. In addition, we facilitate opportunities for you to meet other professionals and keep the sales pipeline (and profit) top of mind. We grow together!
Let’s talk about our city – what do you love? What do you not love?
I like the business ecosystem in my city. People can pursue their dreams of business ownership and find resources to assist them.
Pricing:
- Workshop Solution – From $350 per seat
- Business Strategy Partner Solution – From $900
- Advisory Spotlight Solution – From $900
- CONSULTATION – BUSINESS AND/OR ACCOUNTING – From $250 per hour
- Outsource Controller/CFO – From $4, 000 per month
Contact Info:
- Website: www.AuthenticCPA.com
- Instagram: @AuthenticCPA
- Facebook: https://www.facebook.com/AuthenticCPA
- Linkedin: https://www.linkedin.com/in/lykethiapiercecpa
- Twitter: @AuthenticCPA
- Yelp: https://g.page/r/CY86OHoNjU90EAg/review
- Other: https://calendly.com/authenticcpa/15min
Image Credits
Professional photo credits: Maurice Miller of Primafacie Photography
