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July 26, 2022
Why It’s Important to Define Your Bookkeeping Niche with Tyler Otto
Niching down in your bookkeeping business is important. But how do you go about finding and growing a niche? Co-hosts Hannah Robinson and Melissa Honan interview Tyler Otto from Speciality Bookkeepers – they define what a business niche is, why you...
Niching down in your bookkeeping business is important. But how do you go about finding and growing a niche? Co-hosts Hannah Robinson and Melissa Honan interview Tyler Otto from Speciality Bookkeepers – they define what a business niche is, why you need to build your business around one, and how to find a niche that’s perfect for your brand.
- Tyler Otto and his wife are the owners of Specialty Bookkeepers, a firm that specializes in serving medium to large hospitality-based businesses. His company leverages technology to simplify clients’ financial processes and drive profit.
- Tyler shares his origin story on how he transitioned from a corporate finance job into running a bookkeeping business.
- Hannah asks Tyler why he decided to focus his business on a particular niche and why he chose the hospitality industry.
- Melissa strongly believes the more successful bookkeeping businesses focus on one specific niche - Tyler is quick to agree and explains the drawbacks of running a business that serves all types of clients.
- For Hannah, marketing to a particular niche is all about going to where your client goes and getting in front of them.
- Melissa asks Tyler how long it took him to completely niche down and primarily focus on hospitality clients.
- Hannah describes why bookkeepers must niche down once they hit a specific level of business growth - she also adds that niching down means focusing more on quality rather than quantity of service.
- Melissa asks Tyler how new bookkeepers can find the right niche, attract new clients, and run successful marketing campaigns in their new niche.
- Tyler reveals the true meaning of his company culture, “Flexible Schedule Employer” - and why today’s employees are more interested in flexibility and great working environments.
- Based on his experience running an accounting business, Tyler believes scaling a company and successfully delegating duties is the most difficult thing to get right.
- For Tyler, successfully scaling your business will only occur when your team no longer depends on you for leads and new business.
- Hannah, Melissa, and Tyler all agree that the bookkeeping community is truly special based on how businesses collaborate with each other.
- Tyler explores how building strong relationships with both clients and employees is critical to growing healthy businesses.
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