Pinar R.O.
Milla Liberson is not just the founder and president of the successful accounting firm Onpoint; she is an emblem of entrepreneurial resilience and growth. Juggling the roles of a single mother and a budding entrepreneur, Milla launched her business as a beacon of hope and stability for her family, leveraging her expertise in accounting and finance to build a venture that would offer both flexibility and a steady income. Her journey from the classroom to the boardroom, armed with a Bachelor’s degree in Accounting and a Master’s in Finance, exemplifies her methodical and strategic approach to business.
In celebration of National Small Business Month, Milla shares invaluable strategies that are the bedrock of her business philosophy: delegate diligently to build trust, promote with passion, embrace calculated risks, resolve challenges swiftly, adhere to proven practices, manage time with precision, and maintain emotional equilibrium to ensure professionalism. These are not mere guidelines; they are the lived experiences that have propelled her multiple ventures forward, making her a cornerstone for aspiring entrepreneurs.
Her commitment to sustainable growth and her passion for mentoring are evident in how she navigates the entrepreneurial landscape, marked by her proactive leadership and unwavering dedication to the small business community. Milla’s own story of overcoming early challenges—such as managing time wisely, harnessing analytical skills to ensure profitable investments, and maintaining emotional control—serves as a motivational guide to all who aspire to venture into the business world.
As a visionary leader, Milla continues to inspire and steer new entrepreneurs through the complexities of business ownership toward achieving their full potential. With each step, she demonstrates how embracing challenges and transforming them into opportunities can lead to substantial personal and professional growth. We are thrilled to introduce Milla Liberson, a true champion of small business growth and an unwavering supporter of the entrepreneurial spirit.
Her life’s work encourages us all to pursue our dreams with determination and to always believe in our capability to lead and innovate.
Milla, could you share a bit about your journey in starting your businesses, especially the accounting firm? What inspired you to take that leap?”
I launched my business as a solution to balancing being a single mom to 3 young children and the need to earn sufficient income to pay our bills and provide for our wellbeing. As a woman with a Bachelor’s degree in Accounting and a Master’s in Finance, I decided that using my education and prior experience in the field would be the most logical business I should operate.
What were some of the most significant challenges you faced in the early stages of your entrepreneurial career?
Lacking information. I did not know where to get professional guidance on pricing my services and getting clients.
Inability to intelligently manage time. Not understanding that some opportunities are a waste of time. Assessing what’s worth your time and what isn’t.
Lacking analytical skills. Giving too much too soon or investing without getting ROI isn’t smart.
Being overly emotional. Controlling emotions is a huge challenge for new entrepreneurs. Making professional moves emotionally rather than practically is a huge mistake.
You mentioned the importance of delegating and trusting others. Could you give an example of how this played a crucial role in the growth of your business?
As my firm gained more clients, I realized I needed help to do good work and hired more people to the team, especially since our industry is driven by attention to detail, deadlines, law changes, and finicky clients.
Being your own cheerleader is the key to success. The best strategies are all related to loving and being proud of your work.
Milla Liberson
Can you elaborate on the types of risks that small business owners should consider taking? Are there any risks you took that particularly paid off? Self-promotion is crucial, as you pointed out. What strategies have you found most effective for promoting your businesses?
Every risk carries opportunities for gains but also losses. Everyone’s needs and desires are different, so an aspiring or new entrepreneur should honestly prioritize his/her risk tolerance. For me, I was willing to stop dating and attending social gatherings because I chose to use my time to develop the business and spend the balance with my kids. Others might be single, and their circumstances are different, so their risk tolerance is based on their circumstances. It’s all individualistic.
The risk of going out on my own right when I got divorced and became a single mom with 3 young children. The youngest is only 3 years old. I decided to start a new life with my kids and provide for them financially on my own terms. I isolated myself for several years, just working on marketing the business, developing my reputation, and managing finances with very little funds for me and the kids. I could have taken an accounting job and had a steady paycheck. However, the drive for flexibility in my time and the desire to earn income on my own terms pushed me to take the risk.
Being your own cheerleader is the key to success. The best strategies are all related to loving and being proud of your work. Additionally, networking with like-minded people will eventually pay off. Also, speaking publicly about yourself and your work is critical. Unfortunately, so many people are scared to do this. I was, too, for a long time. In fact, I used to be so scared of speaking in public, the times I had to do it, I thought I would faint. My advice for anyone looking to succeed is to learn how to present yourself in public and take opportunities to speak publicly about yourself.
Acknowledging and resolving problems is vital for any business. Could you discuss a specific issue you encountered and how you resolved it?
I’ve faced various issues in business. One of the biggest is marketing incorrectly. Marketing has many angles. Some work well, while others are a waste of time and money. In my industry, especially because my target market is businesses and their owners, marketing through mailings was a huge waste of resources. It’s now become a running gag in my office. We use it as an example of “What NOT to do” when planning your marketing budgets.
Following directions and managing time effectively are vital tips you shared. How do you implement these in your daily business operations?
It all comes down to discipline. This is a personal choice of behavior modification and one’s ability to self-regulate his/her actions. I make a conscious effort to prioritize discipline over emotionally driven choices, although I am far from perfect and sometimes make moves that are not in my best interest. I prioritize good nutrition and getting sufficient sleep. They help me focus better so I can be more disciplined. Managing time is a discipline. You have to learn to filter out the noise and stick to the timeline you’ve created in your mind. The best example of this is actually my business partner, Gabriel Sanchez. He keeps Omar Folkes and me, our other partner, in line regarding time management.
Self-regulating emotional outbursts can be challenging. Do you have any advice or techniques that have helped you maintain composure in stressful business situations?
The best way to self-regulate your emotional outbursts is to exercise daily, meditate, and prioritize discipline as a way of life.
What is the one piece of advice you wish you had when you were starting?
That I am a smart and capable woman.
For someone just starting a small business, which of your seven tips should they prioritize and why?
Learn to control your emotional triggers so that they don’t control you.
What are your business plans or goals as a successful entrepreneur?
To help people self-actualize their potential and transform their lives through entrepreneurship.
How do you see the landscape for small businesses evolving in the next few years?
I think the use of AI and technology may change how people approach marketing and promotion and also how the work is performed. A good example is the popularity of working from home or remotely.
Milla Liberson’s 5 DO’s and 5 DON’Ts for Small Business Owner Women
DO’s
- Network at least once per week.
- Speak in front of a public group at least once per month.
- Get sufficient sleep and good nutrition, no matter how little money you have or the work volume.
- Expand your professional knowledge through educational seminars, workshops, etc., at least twice per year.
- Credentials matter. Do get accredited or licensed. People trust credentials.
DON’Ts
- Use emotions to make business decisions.
- Work without a break or a getaway.
- Invest time into dead-end relationships.
- Be arrogant.
- Be stubborn.
The Lasts of Milla Liberson
Last book: Tipping Point
Last travel: Toronto, Canada
Favorite food: Korean Food
Favorite dessert: Chocolate and Tiramisu
Favorite quote: “Ask and you shall receive.”
Favorite place in the world: Anywhere in the Caribbean on a beach.
Connect with Milla Liberson on LinkedIn
Visit Onpoint and get help for your Finance and Tax Questions
Follow Milla Liberson on Instagram
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