Thinking about launching your own CPA firm but feeling overwhelmed? Already established on your own and looking to better connect with others who are navigating a similar path? The COCPA Independent Accountants Alliance (IAA) is here to support you.

Launched in 2023, the IAA supports the accounting journey of professionals choosing to pursue an entrepreneurial path. The group is dedicated to connecting independent accountants with one another and supporting all the business, technology, and operational needs that they might have.

“Those first years starting up your own firm are a struggle,” says Bailey Smith, CPA, owner of Sopris Accounting, LLC, Evergreen, who is one of IAA’s founding members. “Accountants have the knowledge and skill to start their own firms, but we’re a risk-averse group, so this process can feel scary. The first hurdle is just getting up the courage to do it.”

Smith says that the concerns she hears from other CPAs who are considering striking out on their own follow similar themes: Is there work out there, and how will I find it? “There is so much work, we can’t keep up,” she says, “so the answer is yes: There is work, and you’ll find it through creating networks. It’s the most organic way to build a business.”

Joe Hamilton, CPA, co-founder of FirmKey Solutions in Denver, admits that it was hard to get his own business rolling, and there were many challenges. “Entrepreneurs have so many questions. What do you even do first?” he asks.

“The IAA is a great resource for accountants going out on their own to speak and connect with people who have been through the same thing," he says. "This is all about providing a platform for information exchange.”

Group members have already been sharing information and referrals on everything from marketing issues to finding legal services. While much of the activity takes place through the virtual community, the group hosted its first in-person gathering in late February, allowing members to meet face to face, share ideas, ask questions, and grow their networks. Virtual meetups will be held in the future to bring CPAs in outlying areas into the mix.

Whether you are already out on your own or considering such a move, the IAA is the place for you. Learn more by visiting the group's webpage or its community on CONNECT, the COCPA’s online, members-only discussion forum. For more information, contact Derrol Moorhead.