The one cliche I insist you embrace

“Riches in niches.”

It’s a cliche, because it’s true.

If you’re sick and tired of hearing me wax poetic about niching for the past two weeks, GOOD. That means you’re listening. 🙂

Look, you can ignore it all you want. But it’s true. If you want to make more money, you need to niche.

When I grew a tax resolution firm as an employee, it was already niched — tax resolution only. We then niched a step further, focusing heavily on construction trades. That’s when things really took off.

When I went into private practice, things were just sorta OK until I stumbled into the trucking niche. Then, it took off like a rocket.

Moss Adams, the largest accounting and consulting firm headquartered in the western United States, and the 15th largest accounting firm in the country, is heavily niched within the real estate development and telecommunications industries.

When you niche, it makes everything in your practice easier. Way, way easier.

How does it make things easier?

And how exactly do you select your niche?

For that, you’ll need to read the August issue of “The Profitable Accountant”. And TODAY is your last chance to subscribe before it goes to the printer, because I’m sending it off first thing tomorrow morning. In this issue, you’ll find:

-the mindset shift you need to make in order to niche
-examples of successful tax resolution niches
-how to leverage your past work experience, hobbies, and connections to help you choose a niche
-how to utilize case studies and surveys for business research
-a 3-page exercise to develop your perfect client Avatar

“But wait, there’s more!”

Yes, there’s more. But to get it, you need to become a Gold member TODAY. No more excuses. Click on over to: reading

Why do you keep hitting yourself?

I’ve always thought that The Offspring hit the nail on the head back in ’94:

Now I know I’m being used
That’s okay because I like the abuse
I know she’s playing with me
That’s okay ’cause I’ve got no self-esteem

I think we all do things that aren’t necessarily good for us. Some of it is subconscious, some of it we’re fully aware of.

For example: Just three weeks ago I promised myself that I was going to take a 9-month break from the stress and anxiety of hosting CPE seminars on the road. A nice little vacation from the frustration of dealing with hotel contracts and sales people. A short break from the financial pressure and marketing challenges that go with filling a live event. And most certainly a holiday away from the extreme social anxiety that I have to slog through when doing public speaking.

But, of course, this morning my brain said, “Oh come on, Jassen, you’re going to be in Seattle for a week anyway, why not put on a tax resolution boot camp?”

And then, I suddenly found myself calling hotels, scrambling to put together a marketing plan, contemplating curriculum updates, and placing print orders.

Why would I do this to myself?

Maybe I’ve got no self-esteem, and I don’t feel “alive” without something to stress out over. I’m sure there’s something to that, but I’ll play Internet psychologist another day, because I know there’s another answer.

It’s quite simple, really: I love sharing the gospel of tax resolution with my colleagues.

That’s it. Pure and simple. All the stress and anxiety is worth it, because I literally have the best job in the world. I get to share a subject I’m passionate about with people that genuinely want to learn about the subject, and then YOU take those learnings and help save jobs, save small businesses, save families from the wrath of the IRS.

That’s why I keep hitting myself.

What about you? Why do you keep hitting yourself?

Here’s an even better question: What work are you slogging through that frustrates you, annoys you, and stresses you out — but that you don’t have a passion for?

On Tuesday’s levy release webinar, I gave the example of no longer accepting clients that come in under active levy, because of the inherent frustration and annoyance that it creates for *everybody*. So, I just stopped accepting those clients.

What … Continue reading

The benefits of being a weirdo

“Normal is a setting on your dryer.”

Normal is also something I’ve never been accused of being, and I’m proud of that.

As a kid, being a strangeling was certainly not pleasant, especially during recess. But as an adult, I’ve come to realize that it’s a strength, not a weakness.

Going against the grain…seeing the world from a different perspective…asking different questions…doing things differently. Those are the hallmark traits of every successful entrepreneur.

If you’re in private practice as a CPA, EA, or tax attorney, you’re automatically part of the weirdo camp, too. Welcome to the club!

Yes, I just called you a weirdo. Wear it with pride.

Why are you and I a bunch of weirdos?

Because we’ve eschewed the cultural norm to just get a job, put in our 40 years, and then die.

You’re a weirdo because you’ve taken the risk of starting your own business.

You’re a weirdo because you going against the grain of the normal tax/accounting career trajectory.

You’re a weirdo because you’ve even chosen to operate your business differently. Different pricing, different service offerings (tax controversy??? are you insane?!?!), different types of clients.

Well guess what?

Normal people obtain normal results.

They have normal, average lives. Mediocre careers. And median incomes.

As this strange, abnormal creature called a “business owner”, you don’t have to settle for average or mediocre anything. Rather, you set the rules. You decide what your income is. You decide the kind of lifestyle you want to live.

I’d like to encourage you to do one more weird thing. It’s one of the weirdest things that any business owner can do. So it’s weird, even in the land of oddballs like us.

I want to encourage you to start turning away business. Start saying “no” to prospective clients that don’t fit YOUR criteria. Become the niche specialist across all the services you offer — tax prep, payroll, bookkeeping, taxpayer representation, advising, the whole nine yards.

Our August issue of “The Profitable Accountant” is focused entirely on this concept. In order to get it, you need to become a Gold member ASAP. Here’s the link: reading