Faith Olanipekun, CPA
Faith Olanipekun, CPA on Co-Founding a Startup, the Journey to Becoming a CPA, and Her Career Thus Far
February 10, 2022
After obtaining her CPA designation in 2021, Faith Olanipekun, CPA, co-founded Nylut Directory Services Incorporated (Nylut), a startup company aimed at easing a struggle faced by Black, Indigenous, and People of Color (BIPOC). We recently caught up with Faith, and she shared advice for future CPAs and insights on how her CPA designation has supported her career thus far. Check out our interview with Faith, below.
CPASK: How would you describe what you do?
FO: As a Principal Consultant for F.H. Black and Company, I automate the financial reporting process for finance departments by implementing industry leading software that saves our clients time and money.
As the Co-Founder of Nylut, I am responsible for managing the overall operations. As this is a startup company that just launched in November 2021, my focus is on acquiring users and businesses, interacting with these users and businesses, and improving the product that we have rolled out.
CPASK: What does your startup, Nylut, mean to you and how did you get the idea it?
FO: As a Black woman who lived on the Prairies, I struggled finding hair- and skin-based service providers. I spent so much time looking on Instagram and Google, attempting to determine whether a service provider had the knowledge and skill to work on my skin and hair.
One afternoon, my best friend and I were having one of our regular chats about these experiences and the myriad of issues. The conversation naturally turned to imagining the start of this venture.
Nylut’s mission is to ease the struggle and reduce the time that BIPOC individuals spend attempting to locate service providers that can cater to their hair and skin needs. If we make at least one BIPOC individual’s life easier, we have achieved our goal.
This is very much a passion project, based on our lives. Naturally we’re committed to it in ways that words cannot adequately express.
CPASK: What do you enjoy most about the work that you do?
FO: In both my roles as a consultant and as a co-founder, I develop solutions for people. This is what makes me happy about the work I do. Being able to provide tangible solutions that change lives is pretty amazing!
CPASK: Did you always want to be a CPA?
FO: It certainly was a path I wanted to go down, but after I graduated university, I knew that getting my CPA was the next logical step for me and nothing else would suffice. I knew this was a field I could make opportunities in.
CPASK: What was the hardest part of pursuing your CPA designation and how did you overcome that challenge?
FO: The hardest part was juggling a full-time job whilst also having to study for the CPA exams. Like the best of things, it was “baptism by fire”, and perhaps I'm better for it.
I was lucky to work for the Provincial Auditor of Saskatchewan at the time, an organization that provided a lot of support while I was pursuing my CPA designation. My coworkers and I were in the same boat, so it was easy to talk to them about the CPA Professional Education Program (CPA PEP) modules or whatever particular topic I was struggling with at that time. Also, working for an employer that offered paid time off for CPA exams was a blessing as it allowed me to focus on studying.
CPASK: What was the best part of your journey to becoming a CPA?
FO: The best part of the journey, for me, was the people I met during the CPA program. I still talk to many of the people who went through the program at the same time I did.
CPASK: What is the most valuable skill that you learned in the CPA program?
FO: Remember that saying, “baptism by fire”? I feel I can do anything now!
CPASK: Did you ever imagine that pursuing the CPA designation would lead you to where you are now?
FO: This is a hard question because nothing about ‘present day’ could’ve been imagined. The CPA played every part in getting me here.
CPASK: Have you had any important mentors/supports along your journey?
FO: My family and friends, loved ones and community have been great supports. My best friend and business partner, kēr, quite frankly has been my rock.
While building Nylut, we have been lucky to have mentors who have supported our business from day one, including Hannah Castle, Karissa Peterson, and Matt Fahlman from Cultivator powered by Conexus, a Saskatchewan-based business incubator, and Naqsh Kochar from Women Entrepreneurs of Saskatchewan (WESK).
CPASK: Would you say that being a CPA helped you to follow your passion?
FO: Without the skills I obtained as a CPA, I doubt I’d be as sharp at Nylut, which isn’t just a business to me. It’s like a baby that I helped bring into the world and am involved in raising. Being a CPA definitely has made me good at my passion.
CPASK: Is pursuing a CPA designation worth it?
FO: I earned my CPA designation in 2021, and it has already opened more opportunities for me. Being able to effortlessly pivot my career from auditing to consulting was due to getting my CPA designation.
CPASK: What advice would you give to future CPAs?
FO: As you go through the CPA program, your journey might get a bit bumpy or rough. Keep going. Always remember to take breaks and be with loved ones when things get difficult. I had the best support systems who helped me through the two and a half years. Your support systems will help get you through too.
If you’re interested in exploring Nylut’s location-based directory of services for Black, Indigenous, and all People of Color, visit https://nylut.com/.