Does Your Accounting Firm Have A Niche?

Imagine if you went to a restaurant and the menu was 57 pages long, front and back, and they served every possible food you could ever want. At first you may be tempted to think that you’ve entered some kind of dinner time shangri la, but after looking over the menu for 45 minutes you’d find yourself with more questions than answers and you’d be overwhelmed with choices. Think of your accounting business as if it were a restaurant. What is the experience your customers are having when they enter your doors? Are they enjoying a really well prepared and satisfying meal, or are they examining an endless buffet line with too many lukewarm options?

You probably don’t own a restaurant, you’re an accountant. But the message is still the same. Your clients want to come to you because of your very specific expertise. They want a firm with a niche. Do you specialize in small businesses, or farmers, or medical offices? Here’s what happens when you find your niche in the market.

Clarity

Does your approach to business feel like a scatter shot? That’s probably because it is. When you do a little bit of everything it's difficult for you to stand out in a crowd. You do a little bit from column A, but this other firm specializes in column A. You do a little bit from column B, but the firm down the road has built their entire reputation on handling this kind of client. If you don’t have clarity about what it is that you do, neither will your clients. At Fix-It Accounting we even named the whole firm based on our niche. We are the place people come when they need complicated IRS issues fixed. We are the fixers. Is your business that clear?

Confidence

Do you know what happens when you build your business on a gap in the market? You get really good at that thing. People come to us for IRS Resolution for two reasons: it’s our niche, and we’re better than everyone else at it. When you drill down to your area of greatest skill, focus in on it, and get lots of practice, your whole team will gain confidence. And when you feel confident your customers will feel confidence in you.

Discovering and declaring your niche in this huge market is a powerful way to grow your business and better serve your current clients. Of course, this doesn’t mean you need to turn down business, but that you can focus your investments on defining yourself and claiming a portion of the market. When you find a niche and run with it your business will become more clear and your clients will gain confidence in you. For more information about building an accounting powerhouse, give us a call today.