Meet Carla Vaughn | Business & Tax Consultant

We had the good fortune of connecting with Carla Vaughn and we’ve shared our conversation below.

Hi Carla, what is the most important factor behind your success?
The most important factor behind my success has been the understanding that many failures leads to success. Before you can claim to be ‘successful’ you as an entrepreneur need to define that word. Success for one person isn’t the same as the next. Success has to be defined, imagined, and well thought out. With this as a basis you can measure if you have accomplished it or not.

I feel that I was very successful in my late 30’s when I was running my own insurance and tax business, but then life events took a turn and the six figure income I was making evaporated. After that all I thought about was that I wanted that level of income again and I needed to get ‘back there’. That took planning, action, and a willingness to learn from others. I started looking for those who were more successful than me and really learn and listen to their stories. I read about millionaires that had it and lost it and then made it again. This inspired me to ‘make it again’. I now make more than what I did in my 30’s.

What I learned also was that I needed to elevate myself and my business. In order to do that I realized I had more to learn about the type of business I had and release myself from limited thinking and behaviors. I don’t think there is a single definition for success and that it is a personal relationship between your struggles and your desired lifestyle.

Alright, so for those in our community who might not be familiar with your business, can you tell us more?
What sets me apart from others is always a good question, we really come down to how does my business make me different from all the other accounting firms. This is really is a two-fold question because I also run a non-profit. But let’s first say neither business was easy though now that the accounting firm is almost 20 years old, I have very few hiccups in business. One big challenge was getting clients and defining my practice. I learned how to define my practice when I went back to school and got my MBA [graduated with honors]. I realized I could be the L’Oréal of accounting companies or the Walmart of accounting companies. I learned to visual and define who I wanted to work with and eventually I attracted those types of clients that fit my business model. I also created a model that was based on relationships which meant I put my clients first, and still do. As far as overcoming challenges with this business I feel like I’ve had so much experience that the challenges are minor. I’ve learned how to have a tough skin when dealing with any difficult clients and learned that I highly value my time and services and can choose who I want to work with and not work for.

As far as my non-profit I realized it was a different animal than running a for profit business and went back to school, again, and got my Certificate in Non-Profit Leadership and Administration. This helped me understand how to run Financial Literacy First different than my accounting business, Business & Financial Management Services. This organization is all about helping to educate the youth and working with a board which means every voice has to be heard over decisions. This has been a new experience. This year we received 2 awards and grants for the first time. We are currently building a strong relationship with the community and one of the largest credit unions in Denver. This organization hits my heart because I was raised in a wealthy family that did very little to teach me about money so I can pass this on to the youth if they don’t get financial education at home. As far as overcoming challenges, I’m still doing that!

Let’s say your best friend was visiting the area and you wanted to show them the best time ever. Where would you take them? Give us a little itinerary – say it was a week long trip, where would you eat, drink, visit, hang out, etc.
I have had my best friend visit and be here for a week or more so this is a great question! I love Denver, even though it has grown so very much in the 30 years I’ve been here. Part of my showing anyone the city has to be based on who that person is and what they like, it’s not really about me…or is it? Anyway as for as eating and drinking it depends on their tastes. So assuming they are like me in many ways here’s some of the places we would go:

-Pappadeaux’s restaurant
-Brass Armadillo, flea market at 88th, Broadway Antique Row [if only we had enough time]
-Downtown theatre [see a musical, ballet, or symphony]
-Central City and Blackhawk [it’s not just to gamble, but it’s the beautiful ride up 6th Ave.]
-Ride the train all over the city so see the city
-Breckenridge, Vail, Cannon City and Colorado Springs [one a day if possible or two]
-Hiking, almost anywhere but love Rock Mountain Forest or San Isabel Forest
-Go to Granby Lake or Turquoise Lake and Leadville for the day

It’s hard to enjoy Denver for a week, you really need more time. Some of my most cherished times with friends that visit is also just sitting out on the patio, grilling and having a glass of wine as we listen to music, feel the breeze, and watch the sun set or the moon rise.

The Shoutout series is all about recognizing that our success and where we are in life is at least somewhat thanks to the efforts, support, mentorship, love and encouragement of others. So is there someone that you want to dedicate your shoutout to?
This is a hard question because my journey wasn’t lessened because of a mentor or a group of people I knew. I relied on the occasional sympathetic ear, YouTube videos of motivational speakers, self-help books and business gurus who also wrote about their journeys. I wish I could say I had a loving husband or friend that gently guided my every step but I didn’t. The best memory I have was back in the 1980’s when I started my first business and had a business partner. His name was Anthony, and I was young at the time and very ambitious. He told me to “do only one thing”. I learned that was a very good lesson because as life developed and my business grew I continued to become an expert in what I did and learned how to create other streams of income from my accounting skills.

During this journey to success there are a few books that left an impression and one was “Do What You Love The Money Will Follow” and “Don’t Sweat The Small Stuff: And It’s All Small Stuff”. The first book helped me stay focused on doing what I was passionate about which was numbers and making others successful in their businesses. The second book was a reminder that I don’t need to worry about anything and that one problem is not larger than another, they are all the same. We choose to create our world and I learned what I wanted my world to look, feel, and be experienced by me was a very calm, stress free, and happy world.

Website: www.BizFinancialMgt.com, www.FinancialLiteracyFirst.org

Instagram: FinLit1st

Linkedin: https://www.linkedin.com/in/carla-vaughn-mba-44945025/

Image Credits
Teaching and awarding students at Axl Academy and William Smith High School who took Financial IQ Classes; receiving eWomen’s Network Non-Profit Recipient award; networking with Rotary Club