By Jessica Salerno, OSCPA senior content manager
One new entrepreneur is using his public accounting knowledge to help companies undergoing audits.“I identified a market need through my time in public accounting,” said Joe DePeder, CPA. “And I felt like I had enough of knowledge base to make the leap. And yes, it's definitely a leap. But I wanted to go for it. I felt like if I didn't, I would regret it down the road.”
DePeder is the owner of the Columbus-based Audit Ready LLC, a business that provides audit readiness services to companies. After spending six years in public accounting, DePeder said he often noticed there were companies that were growing rapidly and while needing a first-time audit, also needed someone to advise them on how to prepare.
He joined the State of Business podcast this week to discuss what it’s been like as a young CPA (he is 30) to venture out on his own and what he’s learned so far.
“I really want to provide growing companies, especially in Ohio, the peace of mind knowing that their first-time audit is upcoming and give them all the knowledge of the audit process from start to finish before their auditor even makes a request,” he said.
His time in public accounting proved invaluable to starting his own business, DePeder said, as his experience working with clients has given him the understanding of what areas are most vital and how systems can be improved. That knowledge base is crucial, as he said being a first-time entrepreneur has already been full of lessons.
DePeder said he’s quickly learned how entrepreneurship requires patience and strong interpersonal skills. Building relationships is crucial because he said you never know where it might take you.
His top advice for those who are also interested in branching out on their own ventures is the value of networking, because a network of strong relationships can make all the difference later in life.
“Even in public accounting, talking to another person in public accounting didn't seem that valuable to me at the time, because we were never going to get business from them,” he said. “And now, I am talking to a lot of public accountants trying to build those relationships. And if you’re in the profession there's no better time to start building those relationships then right now.”