Grow Your Practice by Building a Niche

Working with professional services firms that want to build their business, I meet partners who want to grow their business in specific ways. One practice development tactic that is perennially popular is to declare and build a niche. This is a very good way to grow your business – but only if you do it in the right way. I frequently come across firms that have four clients in the same industry...

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What Can You Build a Micro-Niche Around?

People often build around things, incorporating them into the design of a house or building because they do not want to destroy something (a tree, for instance). There is a great deal of intentionality and effort in doing this. CPAs and other professional services providers can also, with great intentionality, decide to build a portion of their business around something they do particularly well...

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Is All of Your Work Really Worth the Same Price?

When you go into a Dollar Store, you expect everything in the store to be priced one dollar. If you go in any other store, you would think something was wrong if everything in the store was available for the same price. What is your pricing policy? If you are like most CPAs and other professional services providers, you bill clients based on time spent on the work. You clock the amount of time...

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Do You Have a Premium Pricing Mindset?

By David Wolfskehl Increasing profitability is a perennial need of most CPAs. One of the most effective ways to increase profitability is to charge premium prices for at least some of the work you do for some or all of your clients. Until they decide to build a micro-niche practice area, most CPAs do not think about premium pricing. Yet virtually all CPAs should be charging premium pricing for...

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A Boutique in an Accounting Firm?

When you first hear the idea it sounds a little far-fetched. We are not used to talking about a boutique business in an accounting practice. Accountants (and others) don’t exactly think of their work as glamorous. Nor do financial advisors or actuaries for that matter. But try to follow me here. The public (our clients) is continuing to move down the path of a trend toward greater...

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