by Hailee L., Digital Marketing and Content Associate
Entrepreneurship is more than launching a business—it’s about solving problems, embracing risk and building something meaningful from the ground up. This month, we’re spotlighting two inspiring alumni from the School of Accounting and Finance (SAF) who have turned their passions and professional experiences into thriving ventures.
Their journeys from corporate roles to entrepreneurial leadership highlight the resilience, adaptability and strategic thinking that Waterloo alumni bring to the business world.
Carol Zou
MAcc ‘21
Founder, Claymoo
With an entrepreneurial mindset and a love for art and creativity, Carol Zou (MAcc '21) has combined her passions to launch Claymoo, an e-commerce business offering DIY clay kits—the first in North America to use foam clay. Joined by Matthew Wong, her fiancé and fellow Waterloo alum (BASc Mechatronics '21), Carol has spent the last two years building Claymoo from scratch.
Zou leads the creative side of the business, overseeing marketing and social media, as well as product design and branding. “With everything going digital these days, Claymoo provides an outlet for people to work with their hands and be in the moment,” she explains.
Before launching Claymoo, Zou worked in a corporate role where her responsibilities were more specialized. Transitioning into entrepreneurship and becoming the founder of a company meant taking on a much broader scope of tasks, from managing supply chains and cash flow to designing products and marketing strategies. “The context switching is tough,” Zou admits, “but seeing how everything connects is so cool.”
Reflecting on the challenges of running a business, Zou credits her time at SAF—especially the strategy courses in the Accounting and Financial Management (AFM) program—for equipping her with the foundation and tools to navigate uncertainty. “My background in financial analysis helped us make major decisions around budgeting and efficiency,” she shares. “There were times when cash was tight, and those on-the-fly financial analysis skills really came into play.”
Her advice to aspiring entrepreneurs? “Don’t wait until you feel perfectly ready to start something. You’ll never feel ready. Just take action, start small, make mistakes and learn from them.”
Kaz Jaffer
Math CPA '03
Principal and Founder, Finalyze CFO
After nearly two decades in senior finance roles across real estate and investment management, Kaz Jaffer (Math CPA '03) founded Finalyze, an accounting and CFO advisory firm helping real estate investors, contractors and healthcare business owners manage their finances, improve cash flow, minimize taxes and strategize for growth.
Jaffer’s corporate experience leading teams at Brookfield, Venterra Realty, Forum Asset Management and GE Healthcare gave him insight into how high-growth companies operate—and revealed a gap in the market: "Many owners have bookkeepers or tax preparers, but no one helping them navigate capital deployment or make financial decisions with confidence,” he explains. “At Finalyze, we combine accounting, tax and strategic CFO insight to help businesses grow smart, not just bigger.”
By focusing on key industries, Finalyze delivers tailored expertise with the financial rigour of large firms, but scaled for entrepreneurial businesses. “Our clients receive the big company experience on a small firm budget!”
Leaving the corporate world for entrepreneurship meant building a business from the foundation. “In the corporate world, structure, teams and resources are already built around you—in entrepreneurship, you’re building that from scratch,” he shares. Balancing business development, operations, and leadership while maintaining the same professional standards from corporate work was one of his biggest challenges. In this transition, Jaffer quickly realized that having technical skills is only part of the equation.
He credits his university experience and training as a CPA for preparing him for the many challenges and opportunities he has come across in his career. “Waterloo gave me both the technical foundation and the problem-solving mindset to have the confidence and ability to take on almost any challenge that has come my way.”
Jaffer’s top tip for young professionals is to “learn how to communicate complex concepts in a simple manner. Doors will open for you when you can show you are both knowledgeable and approachable.”