Unless clients and future clients only want their individual taxes filed, you need to differentiate yourself to win higher paying business. This is where specialized practice areas come in, but how do you let people know about them?
One approach almost every local accountant takes is providing services to local businesses. According to the Small Business Administration, in 2010, small businesses represented 99.7% of US employer firms. Over three quarters were non-employer businesses and 52% were home-based. Each needs to file returns plus other documentation.
The Market Niche – I Know You Better Than Anyone
But you want to go where there’s money and employees, yet still within the small business category. Say you’ve decided to specialize in small medical practices. According to the American Medical association as quoted by Medscape, 60.7% of doctors were in practices of 10 or fewer physicians. The report also mentions in 2014, 50.8% of physicians were owners.
You already have several medical practices as clients? How do you make your case to others? You can’t give names because of client confidentiality, however, it should be ethical to talk about the number of practices who are current clients and the number of years you have serviced this market segment.
Talk about professional certifications earned that are relevant to their business segment. Robert Half provided a listing of the major certifications in the US and Canada. The guide is available on AccountingWeb.com.