Retired CPA Successfully Launches Thriving Consulting Business

Recent Posts

Overview

Stephanie Johnson was introduced to the Houston SBDC in early 2017 after attending several of its events. She had recently retired from corporate America as a CPA and was considering starting her own accounting consulting business after 30 years in accounting and project management across several sectors. 

With the help of the UH APEX Accelerator and exploring certification and procurement opportunities, she eventually established Simmons-Johnson Consulting, LLC, specializing in contract close-outs, auditing, and training. Over the next year, Johnson attended several networking events to procure contracts. And when Hurricane Harvey hit, she never let that stop her from pursuing her dream. 

In March 2018, Johnson reached a point where she would be acquiring a few contracts soon, so she wanted to prepare for growth. She contacted the SBDC to get assistance with developing business and marketing plans.

Leveraging SBDC Support and Resources

Johnson’s SBDC advisor, LeeVera Smith, shared market research data with her—useful information that could be used for developing her business and marketing plans. Smith also reviewed multiple business plan drafts, offering suggestions as needed.

Over the next few months, Johnson successfully acquired a few subcontracting contracts. She asked if the SBDC could assist with a pricing worksheet to ensure it was done correctly. Smith shared a cost template from APEX that she could use as a starting point and continued to offer support. 

COVID-19 Pandemic Economic Support

In 2020, as with other businesses, Simmons-Johnson Consulting was unfortunately affected by the COVID-19 pandemic. Johnson applied for the COVID-19 Economic Injury Disaster Loan (EIDL), an SBA program meant to provide funding to small businesses to help them recover from the economic impacts of the pandemic. She also attended several SBDC events on PPP Loan Forgiveness and other business development classes over the next year to get her business back up and running. 

Her dedication paid off; by April 2021, Simmons-Johnson Consulting had grown to multiple contracted employees with two ongoing contracts. She had also received an 8(a) Business Development program certification in federal government contracting. 

The next month, Simmons-Johnson Consulting was awarded EIDL and PPP loans. The business also received an additional 7(a) business loan.

Expanding the business

After attending several more SBDC events, in April 2022, Johnson consulted with Smith to discuss a growth and marketing plan. She had already increased her revenue to $480,000, but her goal was to generate $1 million within the next few months and hire her first full-time employee. 

Smith referred her to the SBDC’s HR specialist to offer guidance on the hiring and onboarding process and a few programs, such as the HCC Goldman Sachs 10,000 Small Business Initiative and SBA THRIVE programs.

By completing several of these programs, Johnson established herself as a thought leader in her industry and is continually sought after to speak at numerous events. She was featured in an SBA article and nominated for the SBA’s National Small Business Week Award.

In an interview with the SBA, she says, “I am truly living the American Dream and can’t believe so much has happened in five years: taking a risk on an idea, working hard, and creating something from the ground up. Don’t get me wrong. There were many challenges, but I stayed the course.”

Although Johnson was impacted by Hurricane Harvey and the COVID-19 pandemic, those hurdles became her strengths, with her business eventually specializing in disaster recovery. The SBDC’s support was instrumental in ensuring Johnson and her business had access to the right resources at the right time to promote resilience and growth. Johnson says, “When I began my business in 2017, one of the first small business resources I used was the SBDC. My advisor, LeeVera Smith, has been on this journey with me from the beginning. I appreciate the professionalism and knowledge she has shared over the last 7 years. She represents one of the ‘true’ Business Advisors of [the] SBDC.”

Johnson’s story remains an inspiration for fellow entrepreneurs: with dedication and the right skills and resources, you, too, can start and grow your business—no matter the odds!