I Arpana Patel (CPA), the visionary force who embarked on my entrepreneurial journey in 2014, driven by the desire to strike the perfect balance between motherhood and professional aspirations. As a single mother facing financial challenges, I defied the odds to establish my own venture. Fuelled by unwavering resilience and an unyielding “do it” attitude, I transformed adversity into triumph. My fervour for fostering financial literacy and empowering small businesses is at the core of my entire mission. I dedicated to equipping entrepreneurs with the tools to seize control of both business and personal finances. My perspective on accounting transcends the mundane confines of routine paperwork; instead, I endeavour to champion a proactive role in coaching business owners toward enhanced practices.
When did you start your business?
in 2014
What was the inspiration behind starting this business?
Becoming a single mother was a pivotal turning point in my life, reshaping my identity and reshuffling my priorities. In the wake of this significant life change, an innate desire to create a brighter future for myself and my child emerged as an unwavering force. The challenges that accompanied single parenthood only fueled my determination to build a life that defied limitations and exemplified resilience. The inspiration to start my own business sprouted from a fertile ground of necessity, coupled with a profound yearning to find harmony between motherhood and professional aspirations. With the responsibilities of raising a child solo, I was confronted with financial realities that demanded innovative solutions. I sought to break free from the constraints of conventional employment, aiming to craft a trajectory where my success was not beholden to predefined norms. Launching my business wasn’t just about financial independence; it symbolized a declaration of self-worth and an assertion of my capabilities. I refused to let societal expectations define my path. Instead, I channelled the strength I had cultivated as a mother into a newfound entrepreneurial spirit. The challenges of balancing school, business pursuits, and personal growth became steppingstones, propelling me forward with an indomitable drive. While the journey as a single mother entrepreneur was punctuated by hurdles, each obstacle transformed into an opportunity for growth. Every late night spent working on my business plan and every early morning dedicated to strategizing was a testament to my unyielding determination. My children, now both my source of inspiration and motivation, served as a constant reminder of the legacy I wished to create.
What are you most excited about in your business?
As an accountant for small businesses, an inherent excitement that fuels my passion is the profound sense of deciphering stories hidden within balance sheets, income statements, and ledgers. It’s the thrill of transforming raw data into valuable insights, providing a roadmap for businesses to make informed decisions. The joy of helping clients achieve their financial aspirations is unparalleled. As they witness businesses grow, thrive, and succeed, I share in the celebration of their achievements. This shared journey fosters a strong sense of camaraderie and fulfillment. I love teaching about Tax and Financial literacy without the accounting jargon, and when a client fully understands the impact of knowing your numbers, it’s like a puzzle has been solved. It’s the satisfaction of unveiling the stories behind the numbers, the fulfillment of solving financial puzzles, and the delight in facilitating the success of clients that keeps me enthusiastic, driven, and deeply passionate about my craft.
What has been the most challenging thing about starting your business?
I think one of the most formidable challenges that I faced as a single mum is when embarking on the journey of starting a business requires a balancing act between nurturing children and building an entrepreneurial dream. The demands of entrepreneurship, with its unrelenting dedication and time commitments, often clash with the responsibilities of single parenthood. Juggling school pickups, schedules, and extracurricular activities alongside the demands of a fledgling business places immense strain on a single mother’s already stretched resources. Finding the delicate equilibrium between being a devoted parent and a determined business owner requires exceptional resilience, strategic planning, and a robust support network. Overcoming this challenge not only demands an unwavering determination to succeed but also necessitates the creation of flexible structures and networks that accommodate the unique needs of both family and business.
What advice would you give to other women thinking about starting a business?
The advice I would give anyone starting a business is to have a plan along with passion. I usually refer it as the powerful 4 Ps of business: • Passion – Embrace what you do with fervor and confidence in your abilities. • Patience – Nurture it like a newborn, allowing room for initial challenges. • Persistence – Over time, setbacks transform into successes through unwavering effort. • People – Clients and networks aren’t mere numbers; treat them with respect, empathy, and a keen understanding of their requirements.
Why did you enter the AusMumpreneur Awards?
Firstly, awards provide a platform for recognition and validation of one’s achievements and efforts. Winning or even being nominated for an award can significantly boost credibility and reputation within a particular industry or field. Therefore, entering a prestigious award like Ausmumpreneur Awards, act as a benchmark for excellence and innovation. It encourages businesses like mine, to assess our performance, strategies, and achievements critically. This self-evaluation can lead to improvements and advancements in various aspects of operations. And lastly. awards offer a chance to celebrate successes, both internally and externally. It allows a business/individual to own up their awesomeness and commit to self-promotion without shame and that’s exactly what I am celebrating now after winning Silver in Financial services category.
What did you enjoy the most about being part of the awards?
Being a part of the AusMumpreneur Awards has been an enlightening and transformative journey. One of the aspects I deeply cherished was the self-reflection it instigated. It allowed me to pause, look back, and truly appreciate how far I’ve come, both as an entrepreneur and a mother. But beyond personal growth, it was the connection and camaraderie with other businesses that I found truly invaluable. Engaging with fellow mumpreneurs, understanding their journeys, and sharing challenges and successes added a layer of richness to this experience. Above all, I was continually inspired by the tenacity, creativity, and passion of the women I met. Their stories served as a powerful reminder of the limitless potential within all of us when we combine passion with purpose.
What surprised you most about the awards?
For me, the unexpected victory of securing second place stands out. I hadn’t foreseen this accomplishment, having entered just one category. Winning that specific category came as a delightful surprise. The resonance of the award, evident through the acknowledgment and positive responses from diverse sources, amplifies its significance, rendering it even more poignant and motivating.
How did the awards help you in your business?
Winning a Financial Services Award has been an instrumental boost to my business journey. Beyond the accolade itself, the recognition has served as a beacon of credibility and excellence within the financial industry. The award has enhanced my reputation, instilling trust and confidence among clients and partners alike. It has opened doors to new opportunities, allowing me to expand my network, forge strategic partnerships, and engage with a broader audience. Moreover, the award has acted as a powerful differentiator, setting my business apart in a competitive landscape. This achievement has fueled a renewed sense of motivation and commitment, inspiring me to continually innovate and uphold the highest standards of service. Overall, winning the award has been a catalyst for growth, propelling my business forward on a trajectory of success and distinction.
What advice would you give to other mums thinking about entering the awards?
JUST DO IT. My advice is to seize the opportunity without hesitation. Embrace the chance to showcase your accomplishments and dedication on a larger stage. Remember that your journey as a mother has equipped you with resilience, resourcefulness, and an unwavering drive to succeed – qualities that awards often celebrate. Don’t underestimate the impact of your story; it resonates with authenticity and inspiration. So, believe in yourself, your achievements, and the unique perspective you bring. Prepare to be surprised by the recognition and connections that can arise from such endeavors. Ultimately, participating in awards is not just about winning; it’s about celebrating your journey, empowering others, and leaving a mark that goes beyond yourself. You deserve to shine brightly my girlfriend, and your story deserves to be HEARD. Go for it!
What has been the best thing about starting your own business?
Embarking on my own business journey has brought forth a multitude of enriching experiences, but if I were to pinpoint the best aspect, it would undoubtedly be the sense of empowerment and autonomy. The ability to shape my vision, make strategic decisions, and steer the direction of my business according to my values and goals has been incredibly rewarding. This freedom allows me to innovate, take calculated risks, and fully immerse myself in projects that resonate with my passion. Alongside this, witnessing the tangible impact of my efforts, seeing my ideas come to life, and fostering meaningful connections with clients and collaborators have all contributed to a profound sense of fulfillment. Starting my own business has truly provided a canvas where I can blend creativity, strategy, and purpose in ways that continually inspire and drive me forward.
What’s happening next in your business?
We’re focused on amplifying the value we offer to our clients by integrating advanced technological solutions that streamline financial management and enhance decision-making. Additionally, we’re expanding our range of services to encompass more comprehensive financial planning, investment strategies, and wealth creation opportunities. Collaborations with industry experts and thought leaders are in the works, ensuring that our clients benefit from the most cutting-edge insights and practices. Moreover, our commitment to nurturing financial literacy within our community remains unwavering, with plans to conduct workshops, webinars, and educational initiatives that empower individuals and businesses hence we are relaunching our Knowledge Assist education charity platform. As we embark on this journey, our dedication to personalized service, innovation, and excellence remains steadfast, propelling us toward a future marked by growth, impact, and success.
What are your big plans for the future?
One of my key objectives is to further elevate the level of financial literacy among small businesses and individuals with our Knowledge Assist membership program. I aim to continue providing comprehensive educational resources, workshops, and platforms that empower others to take charge of their financial success. Furthermore, I intend to delve deeper into technological advancements, harnessing the power of automation and innovative accounting software to streamline processes and enhance efficiency for both myself and my clients. This involves embracing digital transformation like AI while maintaining a personalized touch that characterizes my approach. We are also expanding into new horizons by mentoring and fostering growth within my team so that we can find holistic solutions for clients, addressing not only financial matters but also strategic growth and development.
