By: Joshua Finley

Dr. Caroline Njoki’s journey into the world of tax accounting and business was driven by a desire to educate and empower others. Growing up in Nairobi, Kenya, east Africa, she was surrounded by family members running their own businesses, giving her an early glimpse into entrepreneurship. This sparked an interest in economics, commerce and accounting during her school years.

After relocating to America, Caroline was unexpectedly audited by the IRS only two years after arriving. When she reached out to her community for help, no one knew what to do or wanted to engage with the IRS. Caroline realized people lacked the necessary tax knowledge, so she walked into the IRS office without an appointment. A helpful IRS agent guided Caroline through the audit process with her.

An Unexpected Calling

That experience cemented Caroline’s newfound purpose. As she explains, “I came to realize the challenges that were there. But when I came to this country, for me to enter into the world of tax accounting, it was by error.”

She saw firsthand how tax and IRS issues paralyzed immigrant business owners lacking proper information. Caroline recognized her unique position to educate people and bring clarity to IRS processes.

“I started seeing that they need to talk to people about it. They need to educate people to help them understand that the Internal Revenue Service isn’t their enemy—many just lack the necessary information,” she notes.

Cross-Cultural Challenges

Starting her tax practice came with unanticipated challenges due to her background as an immigrant. Caroline faced discouragement from her own community.

“One of the challenges was that the people around me—my family, my friends—didn’t understand. They would say, ‘You can’t do it.’ So, I didn’t have much encouragement on that journey,” she recalls.

Lacking access to business mentors and advisors in her network compounded the struggle. Caroline pushed forward, deciding, “I’m gonna encourage myself.” Her kids gave daily encouragement as she built up her expertise. Dr. Caroline also got certified as Business Consulting Coach so she can serve her business clients well.

Missteps and Hard Lessons

Caroline candidly admits to failures and lessons learned the hard way. Two notable pitfalls early on were failing to market beyond her own community and struggling to set proper client boundaries.

Many clients balked at her rates without grasping the full business costs behind each service. She started lowering prices to appease complaining clients.

“Literally, I was broke, and I was like, I’ve worked for the last five months, but I’m not seeing any results,” Caroline remembers.

One client decried her business tax preparation fee as exorbitant without considering the expensive tax software and other overhead expenses incurred. This failure taught Caroline the value of having a clear price list and being ready to stand firm on her worth.

Expanding Her Horizons

A key breakthrough happened once Caroline started marketing beyond just Kenyan immigrants. She secured more clients by reaching Americans and other immigrant groups by also expanding her services to also become an IRS Certifying Agent. This expanded network gave her business and confidence a needed boost.

She also realized the power of being vulnerable and open about mistakes made. “I am vulnerable enough to tell them my doubts, my fear, my mistakes so that they can know that they can overcome it because I have already crossed the bridge on the other side,” Caroline explains.

As Caroline handled more personal and small business taxes, consulting with clients on broader business matters came naturally. She discovered most entrepreneurs lacked foundational elements like business plans, financial reports, and bookkeeping systems.

Caroline makes it her mission to educate: “Business is beautiful. You just have to understand that, while it’s challenging, it’s also a very fulfilling and joyful path.”

One key accomplishment was helping clients secure significant PPP loans and other COVID relief in 2020 by ensuring their paperwork and tax filings were properly handled.

Keys to Conquering Doubt and Fear

When asked what advice she would give aspiring business owners, Caroline emphasizes mindset first and foremost.

“You have to program your mind to believe that, regardless of the challenges that come your way, you will make it. You’ll be able to shine and stand on the mountaintop, saying, ‘I’ve come this far,'” she urges.

On managing fear and doubt, Caroline views them as potential motivators to work harder or re-evaluate plans. At the same time, allowing doubt to fester will hinder progress. Having mentors and a support system helps conquer the isolation doubt creates.

To learn more about Dr. Caroline Njoki, you can visit her LinkedIn profile here.

Published By: Aize Perez