CPA: The tool to pave entrepreneurial ground
Joel Leclerc shares what it means to be an entrepreneur in cloud-based accounting
As more and more of what we do becomes cloud-based, it should come as no surprise that the accounting profession is following suit. Although cloud-based accounting is still in its infancy, people like Joel Leclerc CPA, CGA, founder of Accounting for Humans, are paving a path for it to take off.
Joel started his practice in 2014, but it wasn’t always cloud-based—he only made the transition in early 2020. “I think I’ve been trying to get there for a long time but never really saw a clear path into it,” he says. “I wanted to be sure I could make it work before diving in.” After chatting with someone who already had an established cloud-based practice and bouncing ideas around with them, Joel decided to take the plunge himself.
Having the designation helped make it possible for Joel to be an entrepreneur in an area of accounting that’s still growing. “The CPA designation equips accountants with the ideal academic background and skillset to open and manage a business successfully,” he says. “Having strong financial and business skills out of the gate was immensely helpful in launching my accounting practice.”
Another advantage to having the designation is that it helps with work-life balance. For Joel, this means he can use his free time to play guitar, spend time with his dogs and cat, and draw or write.
Moving to cloud accounting has opened the door for Joel to work with small businesses and young entrepreneurs who prefer a more modern and tech-forward approach, which are the kinds of clients he always wanted to work with.
“I think cloud accounting really empowers us to become small business specialists,” says Joel. “It can have the greatest impact for small businesses and can augment their finance capabilities in a budget-friendly way.”
Joel finds working with small businesses rewarding because he has the opportunity to provide them with high-impact services like monthly management reporting and cash flow forecasting, which can be difficult for these businesses because they don’t have a full-time CFO or controller. Plus, with nearly one-third of small businesses failing in the first three years, it helps to have a CPA who’s got their back.
“I think accountants can play a huge role in helping small businesses become more financially savvy and resilient,” says Joel.
For anyone who wants to be an entrepreneur, Joel has some advice: “Make sure to find connections with like-minded people on the same path, whether in entrepreneur communities or just staying in touch with other CPAs,” he says. “Don’t be afraid to ask for help early and often.”