Starting a business

It's Your Time: Amanda Mungal's journey from employee to entrepreneur

Behind every small business is a 'big why' – the reason they started their company in the first place and what motivates them to keep going, even when times get tough. Intuit QuickBooks is proud to support Canadian small businesses through every step of their journey and is pleased to celebrate companies doing remarkable things in this “Small Business, Big Why" series.

When Amanda Mungal discovered her employer didn't require her administrative and bookkeeping services year-round, she saw an opportunity where others might have only seen downtime. Realizing other business owners might also require admin support only occasionally, Amanda suggested her employer become her client instead. Her boss was game, and it turned out her intuition was spot on — thus her business, It's Your Time, was born.

Amanda refers to her team of virtual assistants, bookkeepers, and receptionists as small business enablers. “We take all those things off business owners' plates that they don't want to do, so they can reach their goals and scale their business faster," she explains.

Getting over the hump between startup and continued growth

As a new business owner, Amanda faced significant challenges — particularly with handling difficult conversations and being assertive as a boss. To overcome this, she sought leadership coaching, which proved to be a game-changer.

“When I started, I would laugh at the idea of calling myself a CEO — and now I'm finally comfortable in that skin," she says. “Learning to manage my team, and that it was OK to be the boss, was a long road that I'm still on."

Cash flow presented another, trickier obstacle. Initially hesitant to take on debt or increase credit lines, Amanda found herself in need of resources when she wanted to expand and hire more employees. Thanks to family support and changing her mindset during critical moments of growth, she managed to overcome the initial hump, eventually gaining the attention of lenders.

Amanda Mungal sitting at a desk with a laptop.

From her living room to a global presence

From a one-person operation in Amanda's living room, It's Your Time has since expanded its reach to multiple offices in Vancouver, Edmonton, and even Nigeria. The real game-changer was the advancement of cloud technology, which allowed It's Your Time to go fully virtual almost overnight.

Embracing cloud-based tools like QuickBooks Online, VoIP phone systems, and various project management software enabled the business to streamline its services further.

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Thriving on all fronts

Amanda and her husband and business partner, Renny, have managed to grow both their family and their business successfully. Although owning a business sometimes demands sacrifices, she says the rewards are significant. They pride themselves on being a living wage employer that can offer rewarding full-time careers to their employees. This approach ensures a dedicated and reliable team that is cross-trained on various tasks, minimizing downtime when someone is ill or unavailable.

“We have an amazing team," she says. “We feel privileged each day knowing they continue to choose to come to work with us — and that we had a direct hand in creating that culture."

A vision beyond profit: Giving back to communities

For Amanda, being a business leader is about more than just financial success. She sees a unique opportunity to shape her company and, by extension, the world around her. While ambitious goals are part of her nature, she has re-evaluated the traditional idea of wealth and decided to make a difference in her communities instead.

“It may sound crazy, but our 10-year goal is to reach $30 million with 20% in profit and to donate 50% of that back to our communities," she says. “That is something that sets me on fire and makes me want to get up each morning. It also excites our team and motivates them to do their best."

It's Your Time is also regularly involved in community initiatives such as shoreline clean-ups, environmental stewardship, and hosting networking and learning opportunities for their clients. What drives the company is its sense of purpose, a dedicated team, and a commitment to making a positive impact on the world, one step at a time.

How QuickBooks helps Amanda manage It's Your Time

Amanda says she wouldn't be able to manage her practice without the help of QuickBooks Accountants and having everything in one place. “I'm no longer having to pay staff to do data entry with QuickBooks Online, which also means our clients aren't paying us to type and do data entry," she says. “Instead, they're paying for us to verify that entries are correct, and to have conversations with them about where their business is going."

Looking for tips to start, run, or grow your business? Whether you need help with payrolltime tracking or insights into the latest trends, look to QuickBooks Online Advanced to guide you through your entrepreneurship journey.

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