Read How this Mompreneur is a Virtual CFO for Small Business

And CEO of her home.

How does she do it?

Well, grab a cup of coffee and get comfortable, because she can’t wait to tell you! 

Cathy Iconis, became a first time mom of a baby girl in 2009, and only shortly after her maternity leave, she made the leap from her secure job as an accountant for a big company to home business.

So that she could be a stay at home mom.

Turned out there was healthy demand amongst small businesses for virtual CFO’s, and with some hard work, passion and great experience working for a multi-billion dollar company…Cathy Iconis CPA Virtual CFO and Consultant was born.

Cathy manages quite a load between husband, 10 month old, home, clients, networking, blog and other commitments.  She will honestly tell you that she doesn’t have it all figured out yet, but certainly does her best to find balance.  Routine and structure are her friends when juggling the busy work week!

So if you’re a mom or mom to be who wants to be stay at home mom with a business (aka mompreneur), and looking for a little inspiration…

Or you happen to own a small business and realize from this article that Cathy is the answer to your accounting needs…then please read my interview with this lovely lady below, and then contact her!

1.)    What is your business? Please describe in detail.

Cathy Iconis, CPA – I’m a virtual CFO and accounting consultant. In a nutshell, I provide CFO or Controller level services to small businesses that need a higher-lever financial person but don’t want to pay for a full-time employee.  Also, they might not have a need for a full-time employee but want more expertise involved in their processes and managerial reporting.  In addition, I also provide accounting support to larger companies or CPA firms on jobs or projects where they need additional help.  They might not want to over-task their current employees and, again, don’t need to hire someone full-time, so they can call me for contract work.

2.)    Is it a local, national or int’l business?

I work virtually, so I can help businesses all over the United States.  There are a ton of new tools out there that allow me to work remotely.  I can use GoToMeeting to have meetings with clients and we can view either of our computers.  I can also use that program to access their computer remotely, if there is a need.  I also use DropBox, which allows clients to sync files back and forth with me instead of having to email files and worry about version control.

3.)    Who is your target market? Competition?

There are several Virtual CFO’s out there, but there are far more small businesses, so it is not a very competitive market. I target small businesses that already have a bookkeeper and need some more financial guidance to break through to the next level of their business.  Usually, they’ll have several employees and between 1 and 10 million dollars in sales.

4.)    What made you decide to go into business for yourself? Or become a mompreneur?

I’ve always wanted to have my own consulting company, but that decision progressed because my former employer was not able to provide me with a work-at-home schedule. I completely understand why they couldn’t provide that and I still have a great relationship with people there.  They’ve actually been the most supportive of my starting my own consulting business.  Last year they were my largest client.

5.)    What made you decide on this particular business?

I was always good at math and was sort of direction-less in college, so I decided to take an accounting class.  I liked it so much, that I changed my major and became a CPA.  This profession gives you a ton of opportunities.  It gave me the direction I needed, but also the flexibility to explore a lot of job functions within the field.  With my experience in management and financial analysis, this was just the natural path to explore.

6.)    How long have you been working at it now?

I started out on my own after my maternity leave last year, around May 2009.

7.)    When did your business become profitable? (you don’t have to answer if you don’t feel comfortable)

After a few months I was profitable. My husband and I saved up $1,000 for me to invest in starting my own consulting business and that was it.  I don’t spend money I haven’t made yet and it wasn’t long for me to make a profit.  The hard part is fore-going some of the luxuries, but I’m optimistic I’ll be able to invest in them soon.

8.)    Are you working to supplement household income or replace your previous full time income? Or just as an outlet for yourself?

The goal is to supplement our household income. We have worked hard at cutting costs to be able to survive on only one income, but in all honesty, our household income was cut in half when I decided to stay home with my daughter and start my own business.  If I can get back to 60-80% of what I was making before and still be a stay-at-home mom, then I’ll have it all!

9.)    How many kids do you have or planning to have?

I have one 10 month old daughter.  We want to have 2 kids, but we have no plans for that in the near future.

10.) If you currently have kids, describe in detail how you manage your kids, husband, home and business.

I have a 10 month old daughter, which is a handful, but I have a routine for now. My husband works during the day and I stay home.  My daughter, Isabelle, and I have breakfast together and play until her mid-morning nap.  Once she goes down, I go to work.  Then we spend a few hours playing or doing errands for lunch.  She takes a mid-afternoon nap and I work during that time too.  My husband tends to get home around 5 and he takes over baby duty.  I can put in a few more hours of work, get on the elliptical or do whatever else I need to do.  On the weekends, I try not to work, but will if I need to.  Also, I make a conscious effort to not check email or have my work phone nearby when I’m in Mommy mode. That is strictly time for me to play with my daughter or watch her while I do household stuff.

11.) What are your future plans for the business and home life?

We are hoping to get Isabelle into some sort of child care 2 days a week, so I can devote more time to my business and also be able to network.  I have things pretty structured now, but I know it will start getting harder the more active she gets.  I want to find more activities for us to do together – me & her and/or the whole family.

I really need to spend more time organizing my business and structuring it like I have the house. I have several clients that I need to keep happy.  I have my own site and blog to update.  I own another blog for Atlanta small businesses where I coordinate several contributors.  I really want to get it into a routine, because I don’t feel I’m being as effective with my time as I could be.

12.) What is your best weapon against the stress of managing business and home?

I’m still figuring that out. Currently, I’m trying to do Yoga in the AM to wakeup and stretch my muscles.  I’ve done it for a few days and each day the “static” in my head is getting less and less.  The static is all the different thoughts and ideas simultaneously running through my mind.  When I can during the week, I also try to get on the elliptical and watch my favorite soap – General Hospital. Sometimes your brain just needs to check out of reality to recharge.

13.) Do you have any advice tips on becoming successful as a mompreneur?

Structure makes life easier, but be ready to throw it out the window sometimes. Since I am my own boss, I have the freedom to do that.  Also, figure out how to find some time to yourself and cope with stress.  I recently re-started my morning yoga because I’ve been stressing myself out too much.  It helps get my mind clear and ready for the day.  Finally, don’t forget to always market yourself.  As mompreneurs, we might not be able to get out and network as much as we’d like or need to, so be creative and find other ways to keep in contact with referral sources and your target clients.

The end.

Thanks so much Cathy!  Again, if you want to contact Cathy, click here.

**Attn: POM Readers**

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Tagged as: Featured Mompreneur