What kind of impact can financial clarity have on a person’s life? How can establishing a web of trusted, professional relationships transform a community? These are the questions that Victoria Thayer, president and founder of Madison-based Novii CPA, set out to answer when she founded the company in June 2023.
Thayer is a Venezuelan immigrant and University of Rochester alumnus. Her background in chemical engineering and nanotechnology has helped inform the evolution of Novii and the businesses and sectors it serves. Yet alongside her professional history, which also includes 10 years of public accounting experience, Thayer brings a personal history that has likewise proved strong fodder for the startup and its goals.
Says Thayer, “Coming from a humble background, where my mother and grandmother worked as maids in South America, I learned the importance of financial clarity and its impact on our loved ones. The concept for Novii CPA emerged six years ago. My fascination with entrepreneurs who turn ideas into reality, coupled with a supportive community, inspired me to take the leap.”
Her aim in founding Novii, she notes, was “establishing a CPA firm that prioritized relationship-based accounting and tax services, where the tax return is merely a byproduct.”
Novii provides a variety of services, including outsourced accounting solutions, financial statement preparation, CFO services, tax planning, and tax preparation. It also boasts a fast-diversifying client base. After an initial focus on startups, the company has expanded to serve manufacturing, life sciences, and biotech companies, which Thayer finds “particularly rewarding,” given her areas of prior study.
Novii is also helping other entrepreneurs like Thayer with a leg up to firm financial footing, and it’s clear that for Thayer, the path is intrinsically rewarding.
“Our firm has become a key player in the Madison entrepreneurial scene,” she says, “by empowering and giving actionable tools to entrepreneurs …” Those tools include free training to local organizations such as Wisconsin Women’s Business Initiative Corp. (WWBIC), Women United Way, Dane Arts, and the Wisconsin Latino Chamber of Commerce.
“Seven months into the business, I am living the American dream and adding value to my community,” Thayer states.
Thayer’s vision for Novii and its local impact doesn’t stop there. The company and its team of five are currently on track to hire an additional 2–4 employees by 2024’s end. At present, Client Experience Manager Shayla Coombs, CPA–Accounting Manager Shari Kassube, and staff accountant Bailey Willis are among Novii’s other employees, but Thayer notes, “we emphasize roles over titles; for each client, we assign an accounting coordinator and a team lead, facilitating our expansion and capacity increase.”
Thayer also says the company is “actively taking on new clients” with a goal “to continue expanding [its] market presence, especially in the manufacturing and biotech sectors,” and Novii’s consistent cashflow as a subscription-based firm has substantially bolstered its growth.
She asserts that a clear vision and purpose is key in starting a healthy business. Thayer notes, however, that visions evolve as a natural part of the learning process. For her, taking the plunge was well worth it. “Despite never feeling fully ready, I launched Novii CPA,” she says. “I encourage anyone hesitant about starting their own business to take the leap. It’s daunting, but not fulfilling your potential is an even greater risk.”
Novii CPA
821 E. Washington Ave., Suite 200
Madison, WI 53703
noviicpa.com
