Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Linda Hamilton, Founder of Linda A Hamilton, CPA LLC, located in New York, NY, USA.
What's your business, and who are your customers?
I'm Linda Hamilton, and I own two companies. I founded a CPA firm in midtown Manhattan more than 30 years ago. My 2nd company is called Grow Profit Scale. Grow Profit Scale supports primarily woman-owned business founders & leaders to grow, profit, and scale their organizations through business coaching, mastermind groups, workshops, and growth & profit accelerator programs.
Tell us about yourself
I was working at a ladies' department store right out of high school, and I had a boss that noticed my enthusiasm for crunching numbers. He said, "If you like this, you should study accounting." At the time, I had no plans to go to college–no one in my family ever had. But after that conversation, I changed my mind. I took night-time college courses in accounting and worked as a freelance bookkeeper for small business owners. A friend I met through my studies and I decided to go into business together. We had thirteen good years before the four of us split the business up and went our own separate ways. I worked tirelessly in those days, sacrificing family and self-care time until I realized I needed a system. Most entrepreneurs know systems and processes are important, but they are often put on the back burner. Then I discovered a framework called SYSTEMology™. Strong systems, when combined with my 1-Page Business Growth & Profit Plan, provide the programs that support business owners in putting plans in place – to grow, profit, and scale. That is essentially the "GPS" of what makes a business valuable and where my interests now lie. The women that I work with inspire and motivate me to continue to show up in service. We are often navigating unique challenges as leaders–balancing motherhood or caregiving and a whole host of domestic, cultural, and industrial influences that affect our mindset and livelihoods.
What's your biggest accomplishment as a business owner?
Over my 30+ years in business, I have been able to gain incredible insights for myself and my clients on demystifying succession planning and building a valuable, sellable business. This is important no matter what the next step is–staying on board or moving on. My specialized assessments, workshops, group coaching, and mastermind programs help owners, and their teams get clear and organized through systems and processes.
I own an award-winning CPA firm for the services we provide to small business owners. But I am most proud of my contributions to a program that is near and dear to my heart. In 2018 I was honored to receive the President's Award for my contributions to the WBEC Metro NY and Greater DMV Sage Advice Program, which gives women business owners access to critical leadership knowledge and financial acumen needed to accelerate the growth of their companies. Graduates of this program attribute more than a third of their business growth to this program, so it is really impactful in the lives of those who take advantage of it!
What's one of the hardest things that comes with being a business owner?
If you were to ask me this 10 years ago, I would have said going it alone. When I was in my mid-forties, I went through a divorce with my business partners and pivoted to being a solopreneur. I remember just how painful and slow-going it was in those days, especially as I was raising my young son, Jules. If I could go back and change anything, it would have been getting help sooner. And not just any help; I needed help creating systems. After getting my systems in place, I rebuilt a team that I trusted and respected because I learned quickly that I, the business owner, is the worst person to document these procedures. Having a team by your side, plus joining and being active in organizations that bring together partners and potential clients, makes doing business a lot more productive, fun, and way less lonely!
What are the top tips you'd give to anyone looking to start, run and grow a business today?
Lesson 1. Stop being the bottleneck!
Use systems, or hire someone who has experience in setting up processes, to make your business more efficient for not just yourself but for your customers and employees, too. You can't grow past a certain point when you're reinventing the wheel all the time. A system allows you to 'take back' the wheel that may be spinning in all directions. Systems create checks and balances – they can prevent you from burning out, and not having one is a surefire way to go nowhere in your business fast.
Lesson 2. Do not fear the pivot!
We, as women business owners, have our own unique, intuitive 'GPS' within us that, when we listen to it, rarely steers us in the wrong direction. We tend to ignore this inner 'voice' for far too long, staying in situations that are not serving us. When you trust yourself fully, you do not need to fear pivoting to a new role, a new market, or a new industry altogether. Had I followed my intuition sooner, I would have gotten my business systems set up earlier on, avoiding those 12-16 hour days during tax season, and added business-growth consulting to my menu of services sooner.
Lesson 3. When it Comes to Groups – You Get What You Give.
Entrepreneurship can be a lonely road, but by hiring a team of experts that support your mission and joining organizations that bring together the people that you want to work alongside and/or serve is pivotal. However, that is just the first step. You also have to give back to those that you surround yourself with. That means rewarding and acknowledging your team members for a job well-done and being active and engaged with the communities you commit to being a part of. You get the most out of your team and the organizations you join by giving your time, resources, and gifts.
Where can people find you and your business?
Website: https://www.lahcpas.com/
Facebook: https://www.facebook.com/LindaHamiltonCPA/
Instagram: https://www.instagram.com/lhamiltoncpa/
Twitter: https://twitter.com/LHamiltonCPA
LinkedIn: https://www.linkedin.com/in/lindahamiltoncpa/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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