Working with numbers has not always come easy for Rudy Schmid, author of "The Entrepreneur's Guide" He struggled in school in his early math classes; yet, his fascination with them, to bring meaning to everything financial, drove him to work harder, until he began to gain a sound understanding of how to effectively work with numbers.Building upon what he had learned in his early years, he continued to find ways in which he could develop useful data, with ratios, comparative figures and analysis.Rudy attended UCLA following his time in the army, graduating in 1958 from the Business School, with a degree in Business Administration. Following school, he began his career in auditing with Ernst & Ernst, CPA's, currently known as Ernst & Young. It was during that time he discovered the opportunity to meet the owners, managers and others in the business communities from diverse industries, and to learn about the inner workings of the companies.When completing audits, his favorite part was to write closing reports that pointed out strengths and weaknesses of the businesses, based upon the development of ratios and other data found in the financial statements. Conclusions formed in this manner gave Rudy great satisfaction in being helpful with constructive data for management.After three years with Ernst & Ernst, Schmid realized that his goal in business was to own his own company, become self employed, make his own policy decisions, and manage his own company. He began his business on January 2, 1960, in Santa Maria, CA, as Rudolf F. Schmid, CPA, and has never looked back until his final retirement in 2022, sixty-four years later. He explained, "I believe there is the right place for everyone in the workforce. Some folks are more comfortable as employees, while others find their best place as company owners. Both positions are highly important and vital to the business community.” To his delight and continued satisfaction, he was able to serve as a CPA in every imaginable industry, providing accounting, income tax services, and consulting.By 1968, Rudy opened an office in Santa Barbara. During the period when limited partnership investments were gaining in popularity, he developed a large following. He also discovered a specialized area of work in which he could serve as a part-time controller for mid-sized companies. In this manner, he was able to provide partial management for a publishing company and a soft drink bottling company based on the knowledge of numbers contained in the financial statements. He was able to recommend constructive steps to take on re-financing, employment, and other vital areas.It was during his years in Santa Barbara, at the advent of personal computers, that he was offered the opportunity to become president of a new software development company. He decided to accept the offer, undertaking a project of developing data in the airline industry. It was to be a replacement of services presently done manually, and computerizing would save up to 80% of time and labor costs. Although it was successful, it was quickly overshadowed by a competing software company with a much stronger marketing budget. “Our company proved to be under-capitalized and unable to survive the setback,” said Schmid, “I learned many valuable lessons that would serve me well in future years.”While in Santa Barbara, Schmid also served at the University of California, Santa Barbara as a lecturer in accounting subjects, helping him in turn to sharpen his teaching skills.It was in 1985 that Rudy accepted an offer from a firm in Baltimore, Maryland to serve as controller of a multicompany organization. It would include operations in cattle raising, dairy farming and grain farming. Eventually, it would lead to the accounting and reporting for numerous real estate development communities, the largest and most complex being a two hundred- fifty-million dollar residential community in the suburbs of Baltimore. All of the accounting for seven separate companies in the conglomerate also required continuous planning, forecasting and reporting of the income tax aspects, all of which were handled by Mr. Schmid.As a part of the real estate operations, periodic Board of Director meetings were held. Rudy was asked to present reports that included the financial statement, and in addition, his comments and analysis of the statements. Over time, his reports became so well received that they were the featured events of the meetings. From the positive reception, Rudy began to realize that his ability and willingness to report conditions of the company in a meaningful way were of exceptional value to the directors. Plans and decisions were made because of the information they received.Rudy believed that his ability to convey helpful information could be reduced to writing, which ultimately became the inspiration for his book, "The Entrepreneur's Guide."Rudy would continue in his capacity of controller for thirty-seven years until reaching his ninetieth birthday in 2022. During his sixty-four years in his profession as a Certified Public Accountant, Rudy was able to provide his services in every imaginable field of business.He commented recently, “Many believe that accounting is boring. It’s just bean counting! But I discovered years ago that the measurement of profits and losses in business is every company's goal; it is very exciting and satisfying work!”Today, at ninety-one years of age, Rudy is the proud father of seven children, thirteen grandchildren, and eight great grandchildren. In good health, he resides in Sykesville, Maryland.Read more about this authorRead less about this author