𝗪𝗵𝘆 𝗯𝘂𝗶𝗹𝗱𝗶𝗻𝗴 𝗮 𝗻𝗶𝗰𝗵𝗲 𝗶𝗻 𝘆𝗼𝘂𝗿 𝗺𝗮𝗿𝗸𝗲𝘁 𝗽𝗹𝗮𝗰𝗲 𝗶𝘀 𝘀𝗼 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁!

For the last 20 years my accountancy firm, Samera, has built a niche within the Dental sector. We serve dentists at all stages of their careers, from fresh out of university all the way through to retirement.

This has served us well, and by being so focused on a sector it has given us a special insight into a sector we know and love well.

If you are at a crossroads in your accountancy firm's evolution, my thoughts are:

1. Find a niche that interests you or one that you can add value to. I chose dentistry, as my wife who owns and runs dental clinics was my inspiration and someone i could learn about the sector from. 𝗕𝘆 𝗿𝘂𝗻𝗻𝗶𝗻𝗴 𝗼𝘂𝗿 𝗼𝘄𝗻 𝗱𝗲𝗻𝘁𝗮𝗹 𝗰𝗹𝗶𝗻𝗶𝗰𝘀 𝗴𝗮𝘃𝗲 𝘂𝘀 𝗵𝘂𝗴𝗲 𝘃𝗮𝗹𝘂𝗲 𝗮𝗻𝗱 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝘀𝗼 𝗶 𝗰𝗼𝘂𝗹𝗱 𝘀𝗵𝗮𝗿𝗲 𝗺𝘆 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗮𝗱𝘃𝗶𝗰𝗲 𝘁𝗼 𝗰𝗹𝗶𝗲𝗻𝘁𝘀.

2. Sector knowledge is everything, you build contacts, you network, you start to understand the problems your clients are having. If you can understand their problems, you can then also help them find solutions. As an accountant you are perfectly placed to help your clients with their problems. For example, I had a client ask me yesterday about introducing a bonus scheme into their practice and what would I recommend. Having done this for my wife's clinics but also many other clients, I knew what would work and what would not. 𝗘𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲 𝗶𝘀 𝗲𝘃𝗲𝗿𝘆𝘁𝗵𝗶𝗻𝗴.

3. From those early days of starting a niche over 20 years ago, we have added a compliment of other services to our offering. We realised early on that dentists needed help with raising finance, so we started an FCA regulated commercial finance brokerage. Two years back, we started off a buying group, enabling our client base to save money on key aspects of their business. 𝗪𝗲 𝘄𝗼𝘂𝗹𝗱 𝗼𝗻𝗹𝘆 𝗵𝗮𝘃𝗲 𝗯𝗲𝗲𝗻 𝗮𝗯𝗹𝗲 𝘁𝗼 𝗱𝗼 𝘁𝗵𝗶𝘀 𝗯𝘆 𝘂𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗼𝘂𝗿 𝗻𝗶𝗰𝗵𝗲.

I cannot stress how important building a niche within a sector is today. 𝙄𝙛 𝙮𝙤𝙪 𝙪𝙣𝙙𝙚𝙧𝙨𝙩𝙖𝙣𝙙 𝙮𝙤𝙪𝙧 𝙘𝙡𝙞𝙚𝙣𝙩𝙨 𝙥𝙧𝙤𝙗𝙡𝙚𝙢𝙨, 𝙮𝙤𝙪, 𝙖𝙨 𝙩𝙝𝙚𝙞𝙧 𝙩𝙧𝙪𝙨𝙩𝙚𝙙 𝙖𝙙𝙫𝙞𝙨𝙤𝙧, 𝙘𝙖𝙣 𝙩𝙝𝙚𝙣 𝙝𝙚𝙡𝙥 𝙩𝙝𝙚𝙢 𝙛𝙞𝙣𝙙 𝙩𝙝𝙚 𝙨𝙤𝙡𝙪𝙩𝙞𝙤𝙣𝙨.

Get in touch if you need some help with some ideas!