The Entrepreneur Series: Bob Wang, Founder and President of Legacy Advantage CPA

Not-So-Risky Business

Bob Wang experienced a different type of childhood than most. “While other kids played in the playground, I played in the warehouses stocked in clothing,” he said, as he recalled his early years in the Czech Republic.

Wang’s father uprooted the family from China when he saw an opportunity to start a textile business. Seeing first-hand how his parents built a business from the ground up, Wang developed a profound understanding of risks and reward and a relentless work ethic. 

“In my perspective, entrepreneurship is the least risky thing you can do, because you can control all the aspects of how you want to run your life, innovate, or what people you want to hire,” he explained.

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Creating a Legacy

While working as an accountant for a Big Four firm, Wang noticed a gap in the quality of bookkeeping within the small business community which was costing owners money and leaving them frustrated. Due to the lack of accurate financial information, owners were unable to make strategic decisions that shaped the future of their businesses. There was no firm in the market that specialized in bookkeeping of that type at the time, so Wang took matters into his own hands.

Fast-forward to present day, Wang is now the founder and president of Legacy Advantage, a thriving bookkeeping business with a mandate to serve small business owners. Established in September 2015, the company has grown into a $1.5 million company, eventually attracting the attention of Deloitte.

“I wasn’t ready or looking to sell,” Wang admitted. “One of the reasons I decided to sell to Deloitte was because I felt I could make a bigger impact here than if I were on my own.”

Ultimately, it was the alignment in core values and vision for the future of the company that would convince Wang to take this business to the next level.

Challenging Stereotypes

Asians are often associated with being shy and soft-spoken, but Wang sees an opportunity to challenge those stereotypes. 

“My desire is to encourage the community to find a voice that’s unique to us,” Wang said, noting the number of Asian leaders who have stepped into the limelight in the political and tech realms as of late.

“I encourage everyone to find their core values and their value to the work and the world,” Wang said. 

Read Wang’s article, How to Get, by Giving, to learn more about his work and life philosophy.

Listen to the full interview below and subscribe to our podcast on most streaming platforms:

Hear more from Bob Wang at The Entrepreneur Series event:

Date: Monday, September 23, 2019

Time: 5:30 – 8:30 p.m.

Location: D6 Lounge (39 Smithe St, Vancouver, BC V6B 0R3 – 6th Floor, THE DOUGLAS)

Tickets: $20 (until September 15), $30 (September 16-22) and $35 (on September 23 and at the door)