Discovering My Specialization: A Journey in Bookkeeping and Financial Services
I’m on the brink of completing my Coursera and QuickBooks Online Advisor Pro training this month and am contemplating which niche to dive into for my Bookkeeping and financial services venture.
My Background:
- For the last seven years, I’ve been engaged in real estate investment as a side hustle while maintaining a full-time career.
- Additionally, I operate an online business, giving me a strong grounding in social media, content creation, and freelancing.
Given my experience, I’m considering focusing on real estate professionals and social media content creators/freelancers. These fields resonate with my background, potentially easing the learning process as I already possess some industry insights.
To kick off, my plan is to offer complimentary services to friends in these sectors, allowing me to gain practical experience and hone my skills. Of course, I’ll test my capabilities within my own businesses first!
How did you decide on your specialization, and do you believe concentrating on these niches is a wise choice? I’d love to hear your insights!
One response
Choosing a specialization in Bookkeeping and financial services is a strategic decision that can significantly influence the success of your business. Given your background and experience, you’re on a solid path to making an informed choice.
Why Specialization Matters
Specialization allows you to tailor your services to the unique needs of a particular industry or client type, ultimately making your business more attractive to potential clients. It also helps you become a go-to expert, which can justify premium pricing.
Your Background and Potential Niches
Based on your background, it seems like you have a solid foundation for the two niches you’re considering:
Demand: Real estate investors often require detailed Bookkeeping to maximize their return on investment, and there are plenty of opportunities to provide specialized advice.
Social Media Content Creators/Freelancers
Picking Your Specialization
Here’s how I and many others have chosen a specialization, which might help you decide:
Identify which industry excites you more and where your strengths lie. Passion can drive your motivation and success in the long term.
Market Research
Evaluate the market demand for both niches. While your interests matter, it’s crucial to consider the potential client base. Analyze the competition and identify gaps you can fill.
Skill Alignment
Determine which niche aligns best with the skills and knowledge you currently possess. While starting with some background is helpful, ensure you’re comfortable expanding your expertise as necessary.
Experiment and Receive Feedback
Your plan to offer services for free initially to friends in these industries is excellent. It allows you to gain practical experience, build testimonials, and refine your processes without immediate pressure.
Long-Term Viability