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Life and Work with Debbi Warden

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Today we’d like to introduce you to Debbi Warden.

So, before we jump into specific questions about the business, why don’t you give us some details about you and your story.
I started my own business in 1996 when my employer layed me off 3 times in one month. He was a small general contractor and it was January (when construction business is slow). He would say that he had to lay me off and then he would say he needed me… I finally told him that I was going to start my own accounting business and he could be my first client. It was a win-win for each of us.

Overall, has it been relatively smooth? If not, what were some of the struggles along the way?
I would be surprised if anyone ever said running your business is a smooth road! Losing a client would send me into momentary panic; I would be concerned about revenue. Losing an employee would do the same — I invested in each employee and I would have to search for another wonderful person to serve our clients. There were always times when frustration would set in when a client felt someone else could do the same work for lower fees. However, I learned that I was able to find one or two new clients to replace the one I lost. I worked hard to hire the right people to fit our culture and then I worked harder to retain them. As a business owner, you have battled each day to differentiate your product and to show your value. You can’t assume your clients just know. You have to continue to do this with long-term clients, too. After 20 years, I was able to merge my business with a larger firm, so I could have access to more resources. I was able to do this because I positioned my firm over the years to be known as a strong independent firm. You have to work at it each day.

Please tell us about your work.
I am a CPA who specializes in outsourced accounting services. This type of work is much like solving puzzles and creating financial order–I love it and I love working with my clients. I am known for my innovative side. I am proud of being the cover story for the Journal of Accountancy (August 2014) where I was highlighted for my innovative approach to billing for our services–monthly flat rate and prepaid. By taking the dollar signs out of the client relationship, I could focus on the work and the intimate relationship that is important in the high touch area of accounting. I have also been recognized as a Woman to Watch/Experienced Leader by AICPA/COCPA in 2016 and as an Outstanding Woman in Business by the DBJ in 2015. Most recently, I have been listed as DBJ’s Who’s Who in Accounting which will be published on 10/11/19. I am very proud of these recognitions. I am also extremely proud of the culture we built over the 20 years I owned my firm; it was very special. Now, I am proud to be a partner with a well-respected top 50 firm.

What sets me apart? I am fearless; this is not to say that I don’t worry and I don’t stress (I am pretty good at both!). A recent personality assessment stated “You lead with a bold and unconventional vision… unafraid to take the lead… always full of new ideas… independent and confident…. contagious energy… a natural leader with an adventurous spirit.” I wonder if I have accomplished some things because I didn’t know I couldn’t. I wake up in the morning ready to go. 🙂

There’s a wealth of academic research that suggests that a lack of mentors and networking opportunities for women has materially affected the number of women in leadership roles. Smart organizations and industry leaders are working to change this, but in the meantime, do you have any advice for finding a mentor and building a network?
Everyone needs a mentor. I found it helpful to connect with other women in my industry (they might have even been viewed as competitors during the day, but we were supporters during after work hours with wine and/or dinner). I feel strongly that we should connect with others and be a little vulnerable.

I have also mentored others and shared what I have learned. Through AICPA, I mentored two high-level women on the East coast this past year and it was incredibly rewarding for me.

Every business owner (or employee) needs support at home. Then, I strongly suggest coordinating a small group with whom you can network periodically. Find a good mentor or coach. A good one is worth paying!

Networking, in general, was key for me. At the time, I didn’t realize how important it would prove to be. It helped me get my name out there as well as connect with folks who would support me in the future. Looking back, I now realize that I was paving a future path with the networking I was doing.

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Debbi Warden

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