Full Name: Lily Chambers
Company/Business Name: The Academy of Virtual Education
Year Business Was Founded: 2007, 2009, 2009
Tell us about your business: The Academy of Virtual Education is a training service for virtual professionals. My bookkeeping class utilizes QuickBooks Simple Start free version to help entrepreneurs setup and manage their own day-to-day, quarterly, and year-end accounting.
What inspired you to start your business? The same person who started TVE also started the Academy. She asked me if I would be interested in creating a bookkeeping class for her due to the shortage of basic ‘how to do it yourself’ bookkeeping knowledge available. She sold AOVE to me and 2 other partners at the same time I became the owner of TVE magazine.
What has been your biggest challenge in your business and how have you dealt with it? I can happily say “I’m the bookkeeper” so haven’t had to deal with many challenges. 🙂
What would you say has contributed to your business success? I am computer savvy, stubborn, and seriously committed to the success of all of my ventures. If I don’t know how to do something, I research until I find a source to learn how to do whatever it is. I spend a lot of time researching, networking, and focusing on business growth.
What advice would you like to offer other women/moms who are thinking about starting a business? Be prepared to work long hours, feel frustrated and depressed sometimes, but also keep in mind WHY you wanted to start a business in the first place. No-one said it would be easy but I personally believe the rewards are well worth it. And definitely find yourself a support network, whether it is family, friends, a networking group or forum, or a combination of all of them.
What is your favorite tool or resource you use for your business? I have fallen in love with both Google Calendars and Dropbox. The calendar helps me to track my tasks and deadlines and Dropbox allows me to have files immediately accessible to both myself and my clients, no matter where I am working. And I keep many of the articles I publish in TVE Magazine for future reference (in my tabbed notebook, of course)!
Share one business goal you have for your business? To teach more entrepreneurs how to manage their accounting properly. Knowing where your business stands financially is a major key to success.