“Time is the most critical resource we have”

Paula Travers, founder of Travers Accounting Services, has spent close to three decades forging her own path in the world of finance. Now at the helm of her own firm, she reflects on the personal and professional traits that have shaped her success

As a child growing up in Donegal, I thought I would like to one day work in a bank. At some point, around the age of 16, I decided that being an accountant would be better. 
We had a great accounting teacher in school, and I always enjoyed the subject. 

In the pre-internet age, I reviewed as many university prospectuses as I could get my hands on and decided that, rather than study pure accounting, I would do a broader degree. 

I opted for commerce at University College Galway (now NUI Galway), choosing the accounting stream in my second year. 

After college, I spent the summer working in a bar in London, then came home and applied for as many trainee accountant roles as possible. Eventually, I started work as a trainee with a small practice on the north side of Dublin. 

Transitioning from being a college student to training was a shock to the system. I had to work full-time, attend lectures in the evenings and weekends, and I was paid next to nothing. It was tough going, but I was very determined to succeed.

Career advancement

I would say I have very much steered my own course regarding career advancement. 
I learned through experience to trust my gut and make “the next move” when the timing felt right to me. I never let the grass grow under my feet and moved when others may have stayed. 

The qualities that have helped me progress my career have included making my immediate boss’s life easier by being reliable, a good communicator and not being afraid to voice my professional opinion when needed. 

The ability to communicate effectively to people at all levels has been crucial. As accountants, we work in a people business. It feels good to smash the stereotype of the “boring accountant” by showing you have a personality! 

I moved back to Donegal in 2006 at a time when the job market here was quite limited. I spent several years taking on maternity leave cover roles before securing a longer term position as Financial Controller with a company in west Donegal. 

Lessons in perspective and boundaries

My experience is likely quite different from most pursuing a career in Chartered Accountancy. 

My daughter was born during my training contract and I undertook my Professional 3 (now CAP 2) exams when she was only three months old. 

I combined my maternity (then just 14 weeks) and study leave, took one week off after my exams, and was straight back to work. 

It was very tough, but at that time, the expectation was that you just had to get on with it, and I was very determined to prove that having a child would not derail my career. 

I would hope that the situation is better today, but, while statutory leave entitlements have improved considerably, statistics show that motherhood does negatively affect a woman’s career progression, which is unfortunate and unnecessary. 

To retain this cohort of talented and experienced professionals, employers must facilitate flexibility above all else.

For me, the key to work-life balance remains elusive, however. This is something I’m still figuring out. 

As I get older, and with the passing of both my parents within the past 10 years, it is a question of priorities. Work must take priority at certain times, and life must take priority at others. 

Challenges that may have stressed me out 20 years ago, don’t anymore. This comes down to perspective and realising that time is the most critical resource we all have. 

The biggest challenge for me is establishing a good balance between work and rest. Being self-employed, the temptation is there to work all the hours. 

If you do that, however, other important parts of your life and wellbeing will eventually suffer, such as your health (both mental and physical) or your relationships. 

It is crucial, therefore, to protect your time at all costs by establishing boundaries that align with your life. 

Your energy is a valuable resource; don’t waste it on people and situations that drain you. Have the confidence to set unapologetic boundaries, rather than taking on the role of a martyr.

The challenge lies in setting up boundaries and structures in your working life and adhering to them. Always strive to maintain perspective, as it can significantly alleviate the stress of balancing work and personal life. 

Finding confidence and support

Since becoming self-employed, I have connected with networks of female business owners and joined smaller groups of other accountants, both women and men. 

I have only tapped into mentoring and networking since becoming self-employed. These networks have been invaluable in providing a sense of companionship and a recognition that most challenges are shared, giving me the confidence to persevere. 

I highly recommend hiring a professional coach, particularly for self-employed people who need a sounding board and a space to offload to someone outside their immediate circle. 

A coach can provide valuable insights, help you set and achieve goals and hold you accountable for your actions. Coaching is also great for maintaining focus and staying on track.

Twenty-nine years of success

The foundational training and experience you receive as a Chartered Accountant sets you up to work in practice, industry or as your own boss. That has been my trajectory. 
The advancements in technology and the advent of social media mean that self-employment as an accountant is incredibly accessible, and I have created a business that works for me. 

When I entered this profession (29 years ago this month), this was not something I thought was possible.