Your Cents’ Worth is a monthly series that explores inspiring stories of accounting and bookkeeping firm owners who are building their dream firms and a life they love.

“Why did I pick submarines?”

Mike Sylvester laughs, leaning back as if surprised by his own life story.

Honestly, I have no idea. It was probably that William Shatner's video about nuclear power as the ‘final frontier.’ I fell for it."

And so began the journey of a man who would go from depths below the polar ice to building SBS CPA Group and leading a thriving community of accountants through The Collaboration Room.

Mike’s life has been anything but ordinary.

Financial Cents recently spoke with him, and he shared the motivations behind all his adventures and how he keeps work in check.

The Navy: A World of Pressure and Purpose

Mike’s path to the Navy was inspired by his love of history and early dreams of a military career. As a high school graduate, he could have followed many paths. He thought about becoming an Army CID investigator or perhaps a Navy linguist. But in the end, the call of the ocean—and maybe a bit of “Star Trek” idealism—led him to submarines.

“Being on a submarine is different,” he says, remembering the enclosed, high-pressure life aboard the USS Pintado, a 637-class submarine. “You’re cut off from the world. Back then, we didn’t even have computers on board. You’d get maybe 50 words in a ‘Family Gram’ every few weeks and a single news update that might say something like, ‘Packers won the Super Bowl, 27 to 10.’ That was all the outside world you got.”

Mike recounts the strangest leg of his underwater journey: the long, silent days under the polar ice cap, where breaking the surface was a precise operation.

We had an ice specialist with us—a civilian scientist who would tell us if the ice was thin enough to break through. It was surreal. If we couldn’t break through, we’d pull up next to an iceberg and moor. It’s hard to explain what it feels like up there, so close to the North Pole, with hardly a sound."

Mike Sylvester, MBA, CPA/ABV, SBSCPA Group

There were also times of danger, like when the submarine encountered Russian vessels nearby. “We had to be silent,” Mike recalls. “Our officers would even encourage us to sleep off-duty to avoid making any noise.” For a young man in his twenties, it was equally thrilling and unnerving, and it gave Mike a deep appreciation for resilience, self-reliance, and the drive to embrace the unknown.

From Reactor Rooms to Tax Returns

When Mike’s Navy service ended, he looked around for his next venture.

His wife, Karena, had begun building an accounting firm from their home, and Mike was ready for something different—yet just as challenging—as his submarine days. “I went back to college at 37 to become a CPA,” he says. “Our whole family thought we were insane. We had a new office, just the two of us, with seven empty rooms and no guarantees. It was a huge leap.”

Their firm, SBS CPA Group, began with the basics but quickly grew. Today, it serves over 950 clients, specializing in small businesses. For Mike, it wasn’t just about numbers but about bringing his Navy discipline and values into a world where burnout is all too common. “In the Navy, they worked us to death. I didn’t want that for my employees,” he says firmly.

We pay all of our employees hourly. They get 37 three-day weekends a year. No one is salaried—not even the partners. We work hard, but we prioritize balance."

Building a Culture of Loyalty and Retention

Mike’s people-first approach has had unexpected benefits, attracting talent from large firms eager for a healthier work-life balance. “I’ve hired people from big-name firms like E&Y. They come here because we pay more, and they work fewer hours,” Mike says. “I’m proud to say we’ve had zero turnover in four and a half years.”

This structure of loyalty and respect is at the core of SBS CPA Group’s success. “I don’t just want to be another firm,” he explains. “I want us to be a place where people are happy to come to work. We don’t treat our employees like expendable parts. We invest in them, and it pays off.”

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Travel, Exploration, and Life’s Real Riches

For Mike Sylvester, life isn’t only about work; it’s about seeing the world, savoring each new experience, and gaining perspectives that reshape how he views his own life.

He’s visited 37 countries, with Switzerland reigning as his favorite. “Switzerland is like something out of a storybook,” he says, his face lighting up at the memory. “There’s this place, Stein am Rhein, right on the Rhine River—it’s beautiful, like stepping into a painting. We’ve spent about six weeks there over the years, and I’d go back in a heartbeat.”

image of elephants and lions

 Pictures of Mike’s visit to South Africa

Mike’s travels have taken him to some of the world’s most breathtaking destinations, but they’ve also brought him face-to-face with stark realities.

In Brazil, he witnessed the extreme poverty that many children endure. “I remember watching children digging through trash for food in Rio de Janeiro,” he recalls solemnly. “It’s a moment I’ll never forget. Seeing that kind of poverty makes you appreciate the privileges we often take for granted. It gives you perspective.”

His love of travel has always been central to his life and has influenced his family’s journey. Mike and his wife, Karena, have taken their children on countless adventures around the globe, helping them see life from a broader lens. “My kids have been to 20 foreign countries,” he says with pride. “We wanted them to grow up understanding that the world is vast and full of diverse people, stories, and ways of life. I think it’s one of the best gifts we could give them.”

Setting Boundaries with Clients: “I Don’t Have a Cell Number”

In the accounting industry, client relationships can often spill over into late-night emails, weekend calls, and an endless flow of “urgent” requests.

But not for Mike Sylvester, who firmly believes in setting—and sticking to—boundaries.

“My clients don’t have my cell phone number, and they know when I’m on vacation, I’m unreachable,” he says with conviction. “I’ve worked hard to set those rules, which keeps me balanced.”

Mike’s rule of “no client calls” while on vacation isn’t just a preference; it’s a strategy that allows him to truly step away and recharge. It’s also a policy from early experiences with clients reaching him even while he was thousands of miles away.

He recalls a turning point in Rome, “We were heading to the Vatican, and my wife had to take a half-hour call on a street corner to explain payroll taxes to a client,” he laughs, but with an edge of exasperation. “That was it for me. I didn’t want our vacations to look like that anymore.”

His “out-of-office” email, often laced with Mike’s dry humor, gives clients a clear timeline for when to expect him back. “People sometimes don’t believe me when I say I’m unreachable,” he laughs. “I once shared my phone message on Twitter (now X), and at least 200 people called to hear it themselves. They were amazed at how blunt it was!”

Mike’s approach reflects his belief that accountants, like anyone else, deserve a life outside of work. He encourages other firm owners to adopt similar boundaries, even if they’re just starting. “If you give clients an inch, they’ll take a mile,” he says.

Setting expectations early is key to a sustainable business and staying sane."

Building a Community for Accountants

As SBS CPA Group grew, so did Mike’s reputation in the accounting community. His blunt advice on X—covering everything from managing clients to structuring employee hours—attracted firm owners seeking help running their businesses more sustainably. “I had hundreds of people asking me for advice, whether it was about onboarding clients or setting boundaries,” he says. “It got to a point where I was saying the same things repeatedly, and I realized there was a need for a bigger space where we could talk openly.”

On October 7th, 2024, Mike co-founded The Collaboration Room, an online community where accountants can attend sessions, share resources, and support each other. “It’s not just a forum,” he explains.

It’s a place where we can talk about what works and what doesn’t in real-time. I don’t believe in hoarding knowledge; I believe in sharing it. There’s no competition here—only collaboration."

The Collaboration Room has since become a thriving community, allowing Mike to mentor many at once rather than stretching himself thin. “Helping other firm owners succeed is a passion of mine,” he admits. “I know what it’s like to start from scratch, and I want to make that journey easier for others.”

Reflections on Retirement and a Life Well-Lived

With retirement on the horizon, Mike is already planning his next chapter.

“I’ve been to 37 countries, but I want to add five to ten more each year when I retire,” he says, smiling. “We’ve saved some easier places, like England and Ireland, for when we’re older. We’re keeping the more rugged destinations for now.”

Beyond travel, Mike has ideas for giving back.

He envisions teaching CPE courses (Continuing Professional Education) through The Collaboration Room, which is being expanded to offer accredited training. “I want to help more people find balance in this profession,” he explains. “There’s too much stress, too many people working themselves to the bone, and I know it can be different.”

Reflecting on his journey from the North Pole to his Indiana office, Mike acknowledges that he would do a few things differently if he had the chance. “I regret working so much when I was younger,” he admits, “but I’m fixing that now. My wife and I plan to enjoy our retirement to the fullest, traveling and living in a way we otherwise couldn’t.”

Mike has built a legacy of adventure, resilience, and balance through his work that few people in his profession achieve. His journey is one of uncharted waters, from silent, frozen seas to bustling CPA offices, with a guiding philosophy that remains as steadfast as ever.

“You don’t need a million dollars to be happy,” he says, his voice calm yet full of conviction. “You just need a life that you can be proud of.”

For him, a life shaped by grit, gratitude, and generosity is a legacy worth passing on.