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Meet Mellinda Abbott of Abbott and Company in Lexington

Today we’d like to introduce you to Mellinda Abbott.

Mellinda is the founder and chief bean counter at Abbott and Company, a CPA firm specializing in ensuring the growth, success and happiness of their clients. She is a mother of three, married her high school sweetheart, is a serial Entrepreneur and her latest venture is an ice cream shop in Ogunquit Maine.

Before devoting her work full time to Abbott and Company, Mellinda started her career at a big four Accounting firm in Boston followed by over 10 years of executive management experience at two fortune 100 international companies.

Mellinda has taught accounting and business courses at Salem State University and Bentley University (her Alma Mater for her BS in Accounting and MBA). She is a lifelong learner and truly believes she learns as much from her clients and colleagues as they do from her.

Overall, has it been relatively smooth? If not, what were some of the struggles along the way?
Running a business has many challenges….far too many to list. The challenges are different yet equally important during the life cycle of a business. When I started my biz, my biggest challenge was learning to manage my time, set priorities and work on the business. After the third year, when I hired my first full time employee the stress was two fold since I had the responsibility for someone else’s paycheck which I took very seriously. After that first full time employee they next four were a bit easier to manage. It is still very stressful. After 5 years in business the challenge was managing growth, the business actually transforms from start-up mode and the most important daily activity is growing the business while maintaining a quality environment for existing clients. And let’s not forget keeping my employees happy.

Abbott and Company – what should we know? What do you guys do best? What sets you apart from the competition?
We love business and work with our business clients to provide the financial information that they can use to successfully grow their business. We take a consultative approach to our services in that we are always looking for tax efficiency. We focus on finding strategies that will empower our clients to make their dreams a reality but more importantly ensure they are successful. Our clients consistently tell us that we make them feel “important”

What is “success” or “successful” for you?
Success comes in all shapes and sizes and we help our clients discover what success means for them. It is a slippery slope in business when we let others define our success. Once I discovered that I learned more from my failures I began to define success in very small steps. Every day presents a challenge and we tend to focus on what went wrong instead of celebrating what went right.

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