I recently had the chance to talk with Ryan Nguyen, of Nguyen & Associates, CPA. Check out out interview, as he talks about his journey to success, and the unique business solutions that Nguyen & Associates, CPA offers.
1. Please tell us more about yourselves (and/or) NguyenAssociatesCPA.com
I graduated from CU Denver in 2011 and earned my certification shortly after. Since then, I have had a ton of industry experience with a huge range of responsibilities. It’s been a very interesting journey but I’ve learned a ton of things along the way. My partner has been in the industry for over 20 years so she brings a lot to the table. Our company is very adaptable and I think that’s important when working with a bunch of different types of clients with different needs. Also, since we are just starting out, we feel like we can really relate to our clients and their joys and struggles of owning a business. Ultimately, we really want to help them succeed.
2. What inspired the creation of Nguyen & Associates, CPA?
We always wanted to be our own boss and have our own business. We had to tap into what we love doing and what our skillsets are and this is what has come of it. Given how complicated tax law and even financial reporting can be, we felt like we needed to be there helping our community. It really was dependent on getting certified and being somewhat financially stable. After that, the feeling of quitting my job to be my own boss is indescribable. It’s a blended concoction of eagerness, fear, anxiety, and immense enthusiasm.
What does a typical customer look like for you? Are your services for both businesses and individuals?
So far, most of our clients have been individuals, with businesses sprinkled in there. We want to try to keep our clients small in revenue; at least for now.Sometimes small business owners try to do it all, and may get overwhelmed. What are some top reasons why small business owners should consider hiring out when it comes to accounting?
3. Sometimes small business owners try to do it all, and may get overwhelmed. What are some top reasons why small business owners should consider hiring out when it comes to accounting?
Accounting and tax are both their own language and both require an extensive knowledge in order fully apply all of the concepts correctly. There are so many rules, laws, regulations, as well as exceptions, nuances, and ways to research that it definitely will save the business owner time by just hiring an experienced professional to aid them. Of course, sometimes there are business owners who want to learn ‘why’ or ‘how’ and that’s great. We will educate anyone who wants to learn since our goal is ultimately the sustainable success of the business owner. Learning from a professional can be much more efficient than learning on your own from scratch!
4. You also offer CFO, or Controller services (great!). Can you tell us more about that?
The CFO or Controller are usually responsible for more high level financial decisions and analysis in larger firms. They help guide the company in the right path with their financial knowledge and also many other factors. When you’re a small business, your structure might not be large and complex enough to justify hiring someone full time and that’s where we come in. Sometimes the owner of the business is very talented at sales and operations but may need some help analyzing their financial statements and deciding the best course of action with their money. We have enough experience to guide them toward their goals. Each business is different so we be sure to work very closely with them.
5. What are some of the biggest challenges that you’ve faced, and how did you overcome them?
One of the biggest challenges that we’ve faced so far is marketing and business development. It’s really forced me to exercise the creative aspect of me that I feel has been slacking for a long time. What also makes it challenging is that most of the time, you don’t see immediate results. All we can do is keep being persistent and think of new ways to get a healthy brand out.
6. What’s the most rewarding thing about what you do?
I absolutely love helping people! It’s great because tax and accounting is a universal problem for business owners and even individuals. Everyone needs it done, it’s just whether they are able to do it themselves or not. When they can’t, I love coming in and reassuring my clients that we will take care of it and they need not worry any more. I also love educating my clients. After all, this is their business and they should be able to know everything that they want to know. When they ask questions, I always make sure to answer and be sure they fully understand before moving on.
7. Are there any goals that you’d like to achieve in the near future (can be personal or professional)?
There are so many goals that I’d like to achieve soon it’s almost overwhelming. Since we are a relatively new firm, the goals we are focusing on are related to growth and brand. There are also mini goals to help us reach where we want to be by the end of the year. Personally, I just want to be able to break out of my shell and keep meeting people. I felt like I’ve been sort of a hermit throughout my last two jobs so I hope that being an entrepreneur will continue to give me an opportunity to be more open to ideas and people.