Posted Under: Entrepreneurship, Our Heroes

Cathy Iconis is our next icon under the “Our Heroes” series. After the birth of her daughter and wanting a more flexible schedule, Cathy left the corporate world so she could manage her own business as well as take on her role as a mother. Let’s read more about how Cathy effectively juggles family life and her business…

DD: Who are you and what kind of corporate job were you at?

CI: My name is Cathy Iconis. After I graduated college, I went to work for an Atlanta CPA firm as a forensic accountant and later moved departments to be an auditor.  I learned pretty quickly that I wasn’t a regular CPA and didn’t fit the mold.  I was also an entrepreneur, never short on new and exciting ideas to make our business better.  Looking back, I’m not sure how I would react to someone fresh out of school wanting to be part of business decisions and not just billing hours and taking the path outlined for me.

After a few years, I wanted a change and wanted to be a part of those decisions.  I joined a multi-billion dollar construction company as a part of their finance department.  It was a completely different atmosphere and learning construction accounting took some time to understand, but I excelled at preparing easy to read management reports for the executives.  I loved being “in the know” and providing information (and sometimes advice) on how to keep the business running smoothly.

DD: What made you leave the job? When did you realize that you wanted to be an entrepreneur & why?

CI: A few years into my career as a finance professional, I got pregnant.  I knew that I wanted to have a flexible schedule and be able to spend a portion of the time working at home with my daughter.  Unfortunately, I couldn’t work out a deal with my employer – so we made the decision to part ways after the birth of my daughter.

DD: What did you do to break the corporate jail? How did you prepare yourself for the employee to entrepreneur transition?

CI: Since I knew the break was coming, my husband and I saved up as much money as we could and budgeted so we could live off of his income.  It put less stress on me to make money instantaneously.  Instead, I’ve been able to grow things slowly so that I can still manage my business and be a stay-at-home mom.  We had also saved up $1,000 for my business.  I used that money to get started and I haven’t had to take out a loan.  I reinvest a portion of my revenue to keep growing my company.

DD: What are your top tips for employees who want to be entrepreneurs but are hung up on something?

CI: If you can do it, don’t go into debt to start a new business.  If you can’t, only borrow what you absolutely need.  If you business fails, you are stuck with the debt.  That is a double-whammy.  I hate to hear about people losing their dream and then having that daily reminder with an insane amount of debt.  You have to acknowledge that your growth may not be as quick without that initial influx of cash, but I’m of the belief that you need to get a return for every dollar you spend.

DD: How are you now? Are you still in same business, and how do you feel?

CI: It has been almost a year. Things are growing every day, even though I feel like it is too slow sometimes.  My first client was actually my old employer.  They hired me to do some overflow work and to help train my replacement.  I got a big client a few months ago and that allowed me to put my daughter in daycare 2 days a week.  It has freed up more time and I’m learning how to balance it all.

DD: Thank you, Cathy, for sharing your story of entrepreneurial success with me! Congratulations on being a successful mother and entrepreneur (two very difficult feats!) and I wish you all the best in the future.

CI: Devesh, thank you for wanting to hear my story and for supporting entrepreneurs like myself who want to be successful while simultaneously having time for their family, friends, and passions! That is what being a mompreneur is all about!

DD: That was Cathy Iconis, a successful woman who went from forensic accountant to virtual CFO and consultant. Her story is very inspiring to the other wannabe mompreneurs out there who just need a little more information in order to make their dreams come true.

Success to all!