From Side Hustle to 7-Figure Success: Ambrea’ M. Lacy’s Inspiring Journey

From Side Hustle to 7-Figure Success: Ambrea’ M. Lacy’s Inspiring Journey

Ambrea’ M. Lacy, the dynamic CEO of iTax Solutions and iTax Institute, has dedicated herself to entrepreneurship and community leadership. She transformed a humble mobile tax preparation business into the thriving 7-figure firm, iTax Solutions, and founded iTax Institute to empower aspiring entrepreneurs nationwide. Her journey, marked by resilience, dedication, and continuous growth, is a powerful testament to the entrepreneurial spirit.

Ambrea’s story began in 2009 when she turned a side hustle into a significant enterprise, inspired by her father’s investment in a tax course, a laptop, and a printer. Balancing professional success with personal life, Ambrea prioritizes time management, efficient task delegation, and self-care. She overcame numerous challenges as a woman entrepreneur, breaking through gender stereotypes and balancing family responsibilities, with support from mentors, networking groups, and fellow female entrepreneurs playing a crucial role in her journey.

A significant milestone in her career was being recognized at the Tax Accounting Summit in 2021 for generating over $1 million in revenue within 12 months. This achievement validated her hard work and entrepreneurial strategies, highlighting the effectiveness of her approach. Through iTax Solutions and iTax Institute, Ambrea engages in philanthropic endeavors, supports community initiatives, and advocates for social justice as a member of Alpha Kappa Alpha Sorority, Inc.

Looking ahead, Ambrea envisions significant growth and expansion for iTax Solutions and iTax Institute. By embracing innovation, forging strategic partnerships, and exploring new markets, she aims to shape the future of entrepreneurship and continue making a positive impact on individuals and communities. Ambrea’ M. Lacy is eager to share her inspiring journey with the readers of Women on Topp Magazine, illustrating the power of determination and innovation in achieving entrepreneurial success.

Can you tell us about the moment you decided to start your own business? What inspired you?

The moment I decided to start my own business was back in 2009 when I ventured into the world of tax preparation. It all began as a side hustle, with my father’s investment in a tax course, laptop, and printer. What inspired me was the opportunity to turn this small endeavor into something much bigger. Witnessing its growth from a side hustle to a thriving 7-figure tax firm fueled my passion for entrepreneurship.

As a successful CEO, how do you balance your professional life with your personal life?

Balancing my professional and personal life as a CEO is crucial for my well-being and success. I prioritize time management and delegate tasks efficiently to ensure I have time for both aspects of my life. Setting boundaries and sticking to a schedule helps me maintain focus during work hours, allowing me to be fully present in my personal life when I’m not working. Additionally, practicing self-care and making time for hobbies and activities I enjoy rejuvenates me and enhances my overall productivity and happiness. Ultimately, finding harmony between my professional and personal life enables me to thrive in both areas and lead a fulfilling life.

What challenges did you face as a woman entrepreneur, and how did you overcome them?

As a woman entrepreneur, I encountered various challenges on my journey to success. One major challenge was breaking through gender stereotypes and biases in the male-dominated business world. Additionally, balancing the demands of entrepreneurship with family responsibilities posed its own set of challenges. However, I overcame these obstacles by staying resilient, confident, and focused on my goals. I sought support from mentors, networking groups, and fellow female entrepreneurs, finding strength in community and solidarity. Embracing my unique perspective as a woman in business and leveraging my strengths helped me navigate challenges and carve out my own path to success. Through determination, perseverance, and a commitment to continuous growth, I overcame obstacles and emerged stronger, paving the way for other women entrepreneurs to follow.

From Side Hustle to 7-Figure Success: Ambrea’ M. Lacy’s Inspiring Journey

Can you share a memorable success story from your entrepreneurial journey?

One particularly memorable achievement occurred at the Tax Accounting Summit in 2021, where I was recognized for generating over $1 million in revenue within a 12-month period. This acknowledgment not only validated the hard work and dedication I had invested in my business but also served as a testament to the effectiveness of my entrepreneurial strategies.

How do you give back to your community through your businesses?

Through my businesses, I am deeply committed to giving back to my community and supporting causes that are close to my heart. One of the ways I contribute is by actively engaging in philanthropic endeavors that aim to uplift and empower marginalized communities. As an upstanding member of Alpha Kappa Alpha Sorority, Inc., I dedicate my time and resources to supporting community initiatives and advocating for social justice causes. Whether through financial contributions, volunteer work, or mentorship, I strive to make a positive impact and create meaningful change in the lives of others.

Can you elaborate on the key strategies that have contributed to the growth of iTax Solutions?

Our dedication to fostering strong relationships with clients and partners has been instrumental in driving growth. We prioritize open communication, transparency, and trust in all our interactions, building lasting connections that extend beyond the transactional. By establishing ourselves as trusted advisors and valued partners, we have cultivated a loyal client base and unlocked new opportunities for collaboration and expansion.

In addition to providing exceptional service, another key factor driving our growth is our focus on leveraging technology to streamline processes and enhance efficiency. From implementing state-of-the-art tax preparation software to optimizing our online presence and digital marketing efforts, we harness the power of technology to deliver seamless and convenient experiences for our clients. By embracing innovation and staying ahead of the curve, we position ourselves as industry leaders and remain competitive in a rapidly evolving landscape.

Can you discuss the importance of financial literacy in your entrepreneurial journey and how iTax Institute addresses this need?

Throughout my journey as the founder and CEO of iTax Solutions I have witnessed firsthand the profound impact that financial literacy can have on individuals and businesses. It empowers individuals to take control of their finances, make sound financial decisions, and build wealth for themselves and future generations. Similarly, businesses that prioritize financial literacy are better equipped to navigate challenges, seize opportunities, and achieve sustainable growth.

This realization led to the creation of iTax Institute, a platform dedicated to providing comprehensive business training and education in tax preparation, financial management, and entrepreneurship. Through iTax Institute, we offer a wide range of virtual business training courses, one-on-one coaching sessions, and educational resources designed to empower entrepreneurs with the knowledge and skills they need to succeed in the financial industry.

iTax Institute goes beyond traditional education by fostering a supportive community of entrepreneurs, where members can network, collaborate, and share experiences. This collaborative environment facilitates peer-to-peer learning, mentorship, and continuous professional development, further enhancing the effectiveness of our programs.

How do you foresee the future of iTax Solutions and iTax Institute in the ever-evolving landscape of entrepreneurship?

As we continue to innovate and adapt to the evolving needs of entrepreneurs and businesses, we are poised for significant growth and expansion. We are committed to fostering a culture of innovation, collaboration, and continuous improvement within our organization. By embracing new technologies, methodologies, and best practices, we can enhance the effectiveness and relevance of our programs and services, ensuring that they remain at the forefront of the industry.

Additionally, we are focused on expanding our reach and impact by forging strategic partnerships, expanding our network, and exploring new markets and opportunities. Through strategic alliances with industry leaders, we can amplify our reach and extend our impact to a broader audience of aspiring entrepreneurs and business owners. We are confident that we will continue to play a significant role in shaping the future of entrepreneurship and making a positive impact on the lives of individuals and communities.

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