How do I find my own accountancy niche?
If you’ve already been an accountant for a few years, perhaps working for someone else in a company or even in your own general accountancy business, you may already have a speciality in mind.
If you don’t yet have a niche in mind, here are some questions to ask yourself:
1. Who are your regular clients?
While you can always change your main client pool, it may well be that you have already begun establishing your own niche without realising it.
If you already have a number of clients from the same field, then you might already have begun establishing yourself as an expert in a particular field.
2. Which work do you enjoy most?
Choosing a niche which involves work that you enjoy is going to help you to become more successful since you will be doing work which motivates you. Do not underestimate the importance of enjoying the work you do and liking the type of clients you will be dealing with.
3. What are you best at?
This is likely to go hand in hand with the previous question, as we tend to be best at doing the things we enjoy (and vice versa).
4. What other training and experience have you had?
When it comes to starting your own niche accountancy business, it’s not only your work as an accountant which is relevant. Indeed, you may have had other work or life experience which will influence the type of industries that you would be good at (and enjoy) working with. For example, if you grew up with parents who were dairy farmers, then you are likely to have expert knowledge which would help you to make an excellent accountant for agricultural businesses. If you were previously trained in the performing arts, then you might make an excellent accountant for arts businesses.
5. What is most needed in your surrounding area?
While in today’s digital age, you need not feel limited to working solely within your geographical area. However, many people prefer to deal with an accountant that they can know and build a personal connection with. Therefore, choosing to work in your local community could give you additional appeal. For example, if you live in an area where there are many science and research businesses, then it would be sensible to consider whether this could be an avenue you would like to pursue.