Founder, Small Batch Standard, Financial Agency for Craft. Thirsty for #craftbeer benchmarks? Just ask. Independent data aggregator
Joined September 2008
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Landlord is requesting GAAP financial audit to release tenant from lease personal guarantee. Any takers? #taxtwitter
This week @AdamRobbings and I try to figure out wth is going on in distro podcasts.apple.com/us/podcas…
Building a niche pro tip:
At the conference, camp out in the back of any finance/accounting sessions. Make a note of the questions and who is asking them. Hunt them down after the session and personally address their question. They will be very appreciative.
GM,
Building a niche pro tip:
Once you've selected a niche, commit to a conference. Either regional or national.
It will be the coolest experience you've had in a long time.
Just book it.
Section 179, are you out of ya mind!
Was my slogan for the 2008 tax season. I retired that one when I realized the local Ford dealership had ripped it off.
How many [industry] customers do you serve?
Generalist: my partners work with a “couple”
Expert: 86 and counting. Best part is we review our customers 2x per year to carefully offload PITA accounts.
Happy to refer the next outgoing class.
Experts are focused on a subject matter.
Successfully running a firm for a decade does not make you an expert in anything.
Customer profile
Generalist: every customer is most important, unruly behavior
Expert: Have a question, let’s connect you with one of our experts or customers who have seen this before.
Generalist firms live near rock bottom
- unruly customers
- billable hour
- incredible turnover due to chaos
- chamber “ding a lings”
There is a way out. It called becoming a niche business.
Really want to ID a niche and not sure how? Speak to the youngest person at your firm. See if they are interested in taking this on as a side project.
Have them DM me, I’ll get them on the right path.
Drop me off at an accounting conference with 1,500 attendees. 😳🥺😔
Drop me off at a brewery conference with 12,000 attendees. 🐠🌊
I probably should revisit the accounting circuit soon, it’s been a decade.
We attend 1-2 networking events a YEAR. The time and resources we spend on sales and marketing is unheard of. How else are breweries going to learn about our value prop.
Niche work is risky. Once you establish yourself as the expert, better show up bc they’re talking.
High risk, high reward.
Brewing is capital intensive. I flexed with bonus depreciation knowledge for exactly 1 tax season.
Reason: customer didn’t care.
They cared about a path to sustainable profitability.
Can someone tell me why CPA's are reluctant to niche? Is it risky? Fear? Sales and marketing?
I honestly want to know
40 year old's hear me out.
If you commit to a niche in the next 6 months, you have 6-10 years to plant your flag. Q3 and Q4 will be so rewarding, I promise.