Steve Bailey

“…I look at every opportunity and take advantage of it.”

-Steve Bailey, USM School of Business alumni, in response to being asked why he came back to his alma matter to teach a course while heavily involved in his accounting career.

Steve Bailey has always had an interest in business. Even while he was working as a Westbrook police officer, he made time for entrepreneurial pursuits. Now as a CPA specializing in commercial and manufacturing accounts, he is able to fulfill his desire to work in accounting while still keeping his hand in business administration. His specialized position allows him to work with interesting clients and study how they create their product and turn a profit.

I had the opportunity to talk with Steve about his professional and educational paths. Steve is not only an alumnus of the USM School of Business, but also works with the accounting firm Berry, Dunn, McNeil and Parker, which has a strong history of partnering with our school.

Steve didn't consider himself a traditional student as he always worked full-time while attending classes. From his first class at Southern Maine Technical College (now SMCC), he thought to himself, “this is pretty cool.! I'm not going to stop until I get my graduate degree.!” After he received his Associate's Degree in Law Enforcement Technology at S.M.T.C., he proceeded to obtain his Bachelor's Degree in accounting from U.S.M., graduating in 1997. And fourteen years after walking into his first college class, he received his MSA from the USM School of Business.

I asked Steve “what are some of the highlights of working at Berry , Dunn, McNeil and Parker?”

“There is a great deal of variety. I get to work with very bright and highly energetic people and I get to work with clients who do interesting things. I see what they do, what they create and how they generate revenue. It fulfills both sides of my personality as it allows me to take the accounting function and use that as a gateway to see how business functions,. ….such as how a lumber mill makes boards, what technology is involved, and how they are able to improve. There is now a laser that creates three dimensional images of the log. There is absolutely nothing that goes to waste…” He has learned how his clients make and account for drum sticks, light bulb filaments, carpet, sealed chambers for handling hazardous materials, diagnostic kits for identifying a deadly disease and buildings out of fabric. Each one holds something special for an inquisitive mind.

Steve has continued to grow in his career and create a professional reputation which allows him the rare, and sometimes inspirational, opportunity to see a side of business that most people don't get to see. For instance, while attending school he worked as a public accountant at Coopers and Lybrand, learning the ropes through a merger with Price Waterhouse. He went on to work as a private accountant with DeLorme, holding the title of assistant comptroller. His diverse and challenging work history has opened doors and allowed him to cultivate a variety of skills. He has also trained other employees at the police department as well as the accounting firms. So, when it came time to find the right person to teach an Auditing and Assurance course for the U.S.M. School of Business, Steve was an obvious choice.

As a representative of the school's success, I asked Steve what advice he has for the future of the USM School of Business. “I would recommend they continue to focus on producing high quality graduates. To maintain a high standard and build value by ensuring the people who come out of the program do quite well.” He went on to make an example of Bryant College . He has never been there, but he has known a few of their graduates who have been very good accountants. He interviewed someone this summer from Bryant College and took special note of their alma mater because of the reputation of these other individuals. Their degree holds a high value within the profession and he looks for the USM School of Business to continue to cultivate that kind of marketability.

Steve is a hard working, self-motivated individual who maintains a healthy sense of humility. When asked what goals he has for the future, he replied: “I want to continue to build a good reputation within my profession and wherever that leads me. There are plenty of things I don't know and every year that goes by, I think – Gee! I learned a lot this year. There is yet more that I need to learn and I'm impressed by individuals more advanced in the accounting profession and what they are able to conjure up.”

He added, “Maybe one day I'll own my own business. I look at so many businesses and think it would be kind of neat to do that myself.”

Steve Bailey's story is inspiring, to say the least. It serves as a reminder to students that, whether taking the traditional route through college or the not-so-traditional route, formidable challenges can be overcome through patience and perseverance. It serves to remind all of us that, though victory is always sweet, the hardest-won victories are the sweetest of all.

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