{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Business Strategy for CPA's","title":"221 12 Reasons to Niche Your Accounting Practice","html":"","width":"100%","height":180,"duration":923,"description":"*Want one piece of business strategy delivered daily to your inbox?*\nSubscribe here: https://www.geraldinecarter.com/subscribe\nIn this episode, I want to give you 12 reasons to focus on a niche or an industry, or your ideal buyer or a market segment. Whatever term you like to call it.\nThere are slight differences in the details but what's most important is understanding how valuable it can be to your business to focus on an ideal buyer, to pick a niche and move in that direction. \n It simplifies your business.\nIt deepens your expertise\nExpertise is more valuable than general knowledge. \nWhen you create value, it enables your prices to go up. \nWhen your prices go up, your margins also go up when you niche. \nWhen your prices go up, you need fewer clients to meet your revenue targets.\nYour business starts to feel easier, because there's just less to keep track of.\nWhen all your clients look like each other, it becomes so much easier to systematize.\nThe more you can get your clients to nest the more space you create in your business and the more mental space you create in your mind. \nWhen you niche and you focus on an ideal buyer and you deepen your expertise, you become less duplicatable.\nYou put yourself in a position to sell expertise without having to do any work.\nNiching and going in the direction of deepening expertise creates options for you in terms of how to create revenue.\n \nAnd here are some of the objections that I hear about niching: \n Letting go of existing revenue.\nI won't be able to create future revenue.\nI will be bored.\nIt feels limiting, as in, “I’m eliminating too many potential customers.”\n \nEach of the above objections gets addressed. \nNarrowing your industry, your niche, focusing on an ideal buyer opens up more options for you.\n\nEpisode mentions:\n211 Pricing for Improved Profitability\n212 Hold My Beer and Watch Me Niche\n220 How to Price for Access, not Work\n179 Digital Products, Courses, and 90% Margins with The Real Estate CPA\n \nBlake Oliver's...","thumbnail_url":"https://img.transistorcdn.com/AZFvbY29RNsC20PTchqbqXsFoNMjM1040wmYivreg-g/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9lZmE1/ODU2OWRkNzA4ZDQ2/ODg2YmEwYjYzNmEw/NjkzNC5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}