The accounting profession is more nuanced than it might seem on surface level.
An accountant working for huge organisations with operations all around the world will have a different skillset to one that works with small, local startup ventures, for example. The same goes for eCommerce accounting – it requires expertise all of its own.
This is just one of the reasons why we champion specialising as an accountant, as opposed to offering a more broad scope of services. In this article, we explore the many benefits of refining your skillset into a niche product like eCommerce accounting.
The benefits of an accountant specialising in a niche area
Here are five great reasons why, if you have a particular interest or skillset in the eCommerce sector, you should consider specialising your accountancy services:
You simplify and streamline your offering
When you move from a broad offering to a specialist service, you simplify everything in the process. Instead of having to spin multiple plates to cover various facets, you can simply channel all of your energy and development into one specific area.
This concentrated effort will benefit you, your team, your business and most importantly of all, your clients. You become laser-focused and able to really double down on what you’re truly good at when working with a specialism.
You make life easier for your customers
As well as simplifying things internally, for you and your team, specialising as an accountant also means you can make life easier for your new and existing customers. Refining your service into a niche makes it easy for people to understand exactly what it is you offer and in doing so, you ensure you’re attracting the right clients.
Engaging the right demographics from the outset will save you valuable time and energy further down the line. You’ll reduce wasted meeting time, minimise promotional spend on redundant prospecting and support better customer loyalty and retention.
Your offering becomes more valuable
Being able to invest all of your energy into a specialism also means you’ll innately end up producing more valuable and engaging materials for your customers. Resources become richer when you aren’t spread too thinly – something that is particularly advantageous when trying to help eCommerce sellers navigate the complexities of tax and accounting.
It’s far better to do less and do it exceptionally well than to offer a whole array of different services and carry out each of them to a lesser standard.
Your brand identity and marketing becomes crystal clear
The cornerstone of brilliant brand identity and a solid communications strategy is knowing who you are and being clear about what you offer.
Although it’s certainly not always the case, sometimes, when operating a broader service, messaging can be muddied, which can be confusing and overwhelming for customers. When an accountant specialises within a niche, their branding and marketing become concise and crystal clear, which then translates into better performing content, SEO, lead gen and comms – amongst other things.
You put healthy boundaries in place
When you keep your scope broad, your remit is naturally going to be expansive. While this isn’t necessarily a bad thing when it comes to growing your skill set, it isn’t always positive news for your time management or stress levels.
When you commit to a niche and sell a specialist service, you refine your offering. The shopping list of services you offer to clients then becomes shorter but, as we discussed earlier, the quality of your output becomes higher.
Streamlining into a specialist offering also enables you to put healthy (and necessary) boundaries in place. If somebody asks for services outside your niche, for example, operating within a specialism sets parameters that enable and encourage you to say no.
Learning how to say no is a critical part of business ownership – but a tricky thing to master. You don’t want to let down or tick off clients by turning down their work but hey, there are only so many hours in a day and you’re only human.
Carving out a niche allows you to politely justify not wanting to take on particular tasks that are outside your specialism.
Speaking of improving time management and reducing stress levels… Learn more about our Amazon bookkeeping and VAT reporting software by booking your free demo today. eComLedger – created by accountants like us, for accountants like you.