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| Upcoming Events:
3rd ANNUAL
CEO REGIONAL STRATEGIC SUMMIT | | | Join us on Wednesday, June 9 as Darcie Harris, CEO & Founder of EWF International, discusses Leadership and Strategic Planning at the 3rd Annual CEO Regional Strategic Summit.
For more information or to register, please click here. | |
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EWF INTERNATIONAL MEMBER SUCCESS PROFILE: NANCY HYDE, CPA, CVA, PRESIDENT
Hyde & Company CPAs, P.C.
Oklahoma City Owners Forum
Nancy Hyde, CPA, CVA |
Nancy Hyde has a passion for learning and she firmly believes that running a business is more than just learning how to do a job. "I believe in lifetime learning," she said. "I'm constantly reading, going to seminars and learning from other people. You can't rely on just what you learn at school." Combining her schooling with real-life experiences has led the President and Managing Shareholder of Hyde & Company CPA's on a distinguished and enviable career path. Nancy is an Oklahoma City native and graduated from the University of Central Oklahoma with a Bachelors of Science degree in Accounting in 1975. Shortly thereafter, she sat for the CPA exam and passed on the first try - something Nancy admits is rare. After graduation, Nancy worked for the IRS as an auditor. She said that while the position was a great place to learn tax law, she didn't enjoy being on the side where taxpayers owed more taxes. "I wanted to help people plan and pay the correct amount of taxes" she said. After leaving the IRS, Nancy became a tax supervisor at the international accounting firm of BDO Seidman CPA's where she said she learned how to "be a good CPA and work with the clients." Between 1980 and 1992, she held a number of different positions, including CFO of an oil and gas company whose books were in disarray. "This was before Penn Square Bank failed," she said. "Once I got his books in order, we saw that he had really lost a great deal of money. That experience is what got me interested in bankruptcy." After a short stint as a business owner, Nancy accepted a position as a senior tax manager at Grant Thornton CPA's. She later served as a court-appointed panel trustee and examiner for The U.S. Bankruptcy Court where she saw many business owners who had failed. Her job was to take over the business and run it for the benefit of creditors. In 2002, Nancy founded Hyde & Company, a full-service accounting firm with four other individuals. Eight years later, the firm boasts 18 employees and services ranging from taxes, audits, outsourced accounting, CFO services, quickbooks, executive bill paying and profitability coaching. Growing a business caused Nancy to look beyond her technical skills.
"It really comes down to the growth cycle of the business," Nancy said. "When you start, you're likely very good at the technical side of things, but there's a whole new set of skills needed to grow the business and run it utilizing best practices." That area and all that comes with it - hiring employees, deciding on compensation, counseling, mentoring, looking at and knowing your numbers, pricing your services, staffing for services, delegating - caused Nancy to change. "You have to change," she said. "The skills that I had before that had allowed me to start a business are still there, but I had to discover more about what my business goals were." "I became more concerned about being a good business owner," Nancy said. That motivation prompted her to join EWF International shortly after she founded Hyde & Company. She's been a member ever since. "Growing me has been the most difficult," she said. "My role has changed substantially in eight years, and I've discovered that my employees are my best asset. We work to develop our employees, and I hope to have my youngest group of leaders take on more responsibility in the next five years." Part of that employee development is encouraging giving back to the community. The company is supporting a variety of nonprofit organizations financially as well as through volunteer hours. That involvement isn't just developing employees, however. The combination of business success and community involvement earned Nancy a 2010 Enterprising Woman of the Year award by the national magazine "Enterprising Women." Nancy is one of 47 recipients and the only Oklahoman selected among the five annual revenue categories. In the end, Nancy's love of learning has propelled not only her business, but herself, forward. "I've learned I need to focus on my own strengths and let others lead," she said. "I've learned to seek advice, be willing to grow and to look for solutions, not blame."
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