Yvonne Miller-Davis is the owner of 1st Class Accounting & Consulting Services LLC. This business provides high quality, personalized accounting services tailored to meet the unique needs of clients. Based in Camden, New Jersey, the firm is dedicated to supporting local businesses, and individuals with comprehensive financial solutions that drive growth and success. We had a chance to sit down with her to ask about her experience with entrepreneurship and LAEDA’s training program.
LAEDA: Entrepreneurship is a very challenging path to take with many different possible directions. What made you decide to become an entrepreneur?
Choosing to become an entrepreneur was a difficult decision to make, but it is one that I do not regret making. Being a long-time resident of the city of Camden, my decision to become an entrepreneur was not only a professional decision, but it was also a commitment to drive a positive change in a community that needs it the most. Despite the challenges, I see unlimited opportunities that can create jobs and stimulate economic growth. I aim to not only build a successful enterprise but also contribute to the revitalization and transformation of the entire community. My goal is to be a catalyst for hope and progress, demonstrating that with vision and determination, we can overcome adversity and create a thriving inclusive community.
LAEDA: Why did you choose your industry?
I chose the field of accounting because it serves as the backbone of every successful business. By establishing an accounting firm, I can offer high quality accounting services tailored to the needs of local businesses and individuals. By empowering entrepreneurs and small businesses owners, as well as individuals with the financial tools and knowledge they need to thrive. This not only helps individual businesses succeed, but also stimulates economic growth and stability in the community.
LAEDA: Tell me about your experience while attending EDTP. What have the major takeaways been from the program? Have you had any “Ah-ha!” moments? How did the program help you?
Attending LAEDA’s Entrepreneurship program was a transformative experience that significantly shaped my approach to business. LAEDA provided me with a wealth of knowledge, practical skills, and a supportive network of like-minded individuals.
The keys takeaways for me were in the following areas:
Some of the “Ah-ha” moments for me were in marketing your business. Evaluating your business strength and adjusting your strategy to cater to your specific market. How to be the most impactful to the market you wish to cater to.
LAEDA: Tell me about your journey on the road to business start-up. What have been some of the challenges, successes, failures, etc.?
Embarking on the journey of starting my own accounting firm has been one marked by a series of challenges, successes and many invaluable lessons learned. It was a journey that took patience, commitment and adaptability.
One of the challenges I faced was building a client base. Establishing trust and credibility in the local community was challenging. Many potential clients were skeptical of a new business, especially in an industry as crucial as accounting. It took time, persistent networking and delivering exceptional service to build a loyal client base.
Some of the failures I experienced were underestimating initial costs. Early on, I underestimated the costs associated with starting and running my business. This led to cash flow issues that required me to reevaluate and tighten by budget. The experience taught me the importance of thorough financial planning and maintaining a buffer for unexpected expenses.
LAEDA: Could you tell me a little about where your business is today?
Today, my accounting business has grown significantly from its humble beginnings. We have established a presence in the community and have built a reputation for providing high quality accounting services. We have a diverse client base that includes small and medium-sized businesses and individual clients. Our client retention rate is high, reflecting the trust and satisfaction of our clients with our services. Our core services that we offer are bookkeeping, tax preparation, financial consulting as well as notary services.
LAEDA: Do you have any advice for future (or existing) entrepreneurs?
I would advise future entrepreneurs to connect and attend an entrepreneurial program like LAEDA. There you would gain invaluable information that will help you develop, maintain and grow your business. You will build relationships and bond with like-minded people. Embarking on entrepreneurship takes patience and commitment.
Attending programs, like LAEDA, you will get hands-on experiences like understanding your market, developing a solid business plan, you will learn how to focus on financial management, how to build and maintain a strong network.
Your ability to embrace technology and be resilient will be heightened!
Seeking continuous learning and giving back to the community is essential as you navigate entrepreneurship.
Entrepreneurship is a challenging yet incredibly rewarding journey. Connecting with programs like LAEDA will help you navigate through the many challenges, failures, and successes you may encounter on your journey.
More about 1st Class Accounting & Consulting Services LLC:
Services include:
At 1st Class Accounting and Consulting Services LLC, we use technology and a client friendly approach to deliver exceptional service. Our mission is to provide the tools and expertise that our clients need to achieve their financial goals and contribute to the revitalization of our community.
Contact 1st Class Accounting & Consulting Services LLC for more information:
Email: yvonne@1stclassaccounting.us
Phone: 856-993-8443
Website: 1stClassaccounting.us
About the Entrepreneurial Development Training Program (EDTP):
The Entrepreneurial Development Training Program (EDTP) is a free, nine-week business skills training course offered in Camden, NJ in the Spring and Fall each year. Qualified entrepreneurs receive 72+ hours of training from industry professionals, business planning, and continued technical assistance.