Meet Eric McGlothen | Certified Public Accountant

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

Hi Eric, can you walk us through the thought-process of starting your business?
My business was birthed out a word spoken by the late Bishop Eddie L. Long. He spoke about doing kingdom business. Before then, I had never even thought about owning a business. I worked for one of the big four Certified Public Accounting (CPA) firms and I loved the work. But, one day my employer called me into their office and said, “We know you are going to be successful, but it is not going to be here.” I was let go that day. It was one of the best things that could have happened to me professionally. So, I had to become clear about my next steps and my purpose. That’s when I started my accounting practice. My goal is to help my community members, specifically entrepreneurs, with accounting and tax matters. I realized that there was a shortage of expertise surrounding these matters amongst those in my community. Moreover, I no longer wanted my monetary value to be decided by my employer. As an entrepreneur, I create my wealth.

Alright, so for those in our community who might not be familiar with your business, can you tell us more?
To answer your question, getting Eric McGlothen, LLC to where it is today has not been easy. I share with folks that I sat for the CPA exam eight times before passing all four parts and becoming licensed. And I started in practice with a partner before branching out as a sole practitioner. The firm’s pricing methodology was horrible, resulting in poor margins and a lack of profitability. I did not have a mentor in the accounting profession, so I was learning on the fly, through Continuing Professional Education (CPE) courses, and by reading professional publications.

One of the key things I credit with turning around how I did business was attending a 12-week entrepreneurship training course by Jerome and Alena Edmondson. The business plan that I wrote upon completion of this course solidified some important business principles. I will name three. First, the name of your business is critical. Secondly, if a person or business does not want your service or product, that is not your customer. Understand who is your customer (e.g., age, gender, ethnicity, income level) and market to them. Know that not everybody can or should be your customer. Lastly, price appropriately. The price of one’s service or product should cover direct and indirect costs and allow for income to the owner and profit to the business. One other thing I will say that I have learned in business that has been critical to the firm’s success is to know that there are internal and external customers. The external customers are those to whom we sell our product or service. The internal customer is who helps service the external customer. Both must be treated with care and respect.

Any places to eat or things to do that you can share with our readers? If they have a friend visiting town, what are some spots they could take them to?
Atlanta is a great destination because it is a city with so much to offer. It’s known for its amazing food. I spend a lot of time at one of the newest brunch spots in Atlanta, Toast on Lenox. Chef Virgil Harper has curated a delicious menu. I recommend the avocado toast and salmon and grits. Weather permitting, dine on the patio, and be sure to make a reservation.

For late-night coffee and dessert, Cafe Intermezzo never disappoints. I have visited this spot since college. Their homemade desserts are some of the best in Atlanta. My favorite is anything with strawberries or raspberries. And I would cap it off with a strong cup of coffee (sometimes with butterscotch).

I am a man of faith, so my Sunday mornings typically begin with worship. There are so many churches from which to choose.
Sunday afternoons in Atlanta are made for brunch and there is no place better than Grits and Eggs Breakfast Kitchen in Vinings. Make sure to try their beignets and tell the owner, Mike Glover, that I sent you. He’ll take good care of you. We’d finish out the week with a round of golf-one of my new passions. Work hard, play hard, right?

Who else deserves some credit and recognition?
I must honor my wife and college sweetheart, Tanisha Zamore McGlothen. Entrepreneurship is not easy. It can take you to some of the lowest places in your life. I often recount my story of how I quit my job at Southern Company after about two years because I wanted to pursue building my accounting practice full-time. At this point, we had only been married for about three years, we had a newborn, and had recently purchased our first home. Leaving our one source of income at that time was, candidly, one of the worst decisions that I ever made, in terms of timing. It put extraordinary pressure on our marriage and our finances. We almost lost everything, including each other in the fallout. Gracefully, my wife endured and held down the home front. She is now and has always been my biggest supporter and cheerleader. I could not have achieved all that I have without her. She deserves the world. Additionally, I would like to shout out my entire staff, but I must give special mention to those that have been with me for many years – Henteves Jester, Debi Dobson, LaShon Spearman, Bobby Scott, Corey Gillespie, and Carol Benoit. My firm is not a one-man shop, and we are continuing to grow. I could not do the work I do without a trusted team of competent and hardworking individuals. I am also extremely grateful to each of my clients who have put their faith and trust in me and my team and have allowed me to serve them while walking out my purpose.

Website: www.ericmcglothenllc.com

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Twitter: emaccpa

Facebook: Eric McGlothen, LLC

Youtube: Eric McGlothen

Other: Tune in Tuesdays at 8:00 p.m. for Level Up with Eric McGlothen. You may catch my show on KBCN Media (kbncmedia.com), live on my firm’s FaceBook page (Eric McGlothen LLC) or click podcast on my show page, ericmcglothen.com.

Image Credits
Joe Carlos Photography