How to pick a Niche for your bookkeeping business

[@carlhammill5774]

Hello, I think you bring up some really good points on picking what your passionate about. I have degree in Accounting & Nursing and I was going to broadly target the medical field for my bookkeeping services startup. I felt just ok about that decision. However, When I watched your video I realized what really drives me is healing and homeopathic medicine. I only want to do this part time (run another business with my wife) and I hope there are enough clients in those specific areas. Thank you for insight.

[@5MinuteBookkeeping]

You're welcome. I'm glad you were able to gain clarity into your niche.

[@yanettebw8754]

@@5MinuteBookkeeping Hi,I also worked as a CNA but I finished an associate in accounting,do you think will be ok to go for medical and billing or it’s totally different?

[@crystalmorrison4463]

Absolutely fantastic ideas! 🙌🏻

[@5MinuteBookkeeping]

Glad you like them!

[@DWerth-hk5ig]

Thank you. Excellent content and inspiring too.

[@5MinuteBookkeeping]

Glad you enjoyed it!

[@lionhoneyfilms1460]

Very helpful. Thank you.

[@5MinuteBookkeeping]

You're welcome!

[@francehoude2246]

Hi Veronica, I’m from Montreal, and french speaking. Thank you so much for all the explanations that you give us, it makes so much sense! I’ve done some bookkeeping in the past for different companies, but was getting bored. Now I understand why that was the case, this was because I did not like the field that the compagny was working in and it was boring for me. Me too, I love art, sewing, drawing, painting, etc. I would love the idea to do bookkeeping for these types of businesses! Thank you so much for your videos! I’m working on learning the QBO system at this moment. France Houde

[@5MinuteBookkeeping]

Hello France. I think it's a great idea to narrow your niche to work with makers and artists. There are many people in that niche who sell on Etsy or Shopify. You could also join the Crafts Industry Alliance (I'm currently a member).

[@patriceshelly9084]

Hello Mrs. Veronica!! Great explanation on how to niche!! Thank you soo much!!

[@5MinuteBookkeeping]

You are so welcome!

[@rickeyhughes7380]

Hello, Miss Veronica. This is Rickey Hughes again. I have just watched your most recent video about picking a Bookkeeping niche. I think if I were to pick a Bookkeeping niche, it would be with churches, cleaners, grocery stores, or small business restaurants. I think I would also consider small business newspaper companies since I used to work at a small business newspaper company, doing Bookkeeping and Accounting on that job. If I have anymore questions, I will let you know. I would like your response about this whenever possible. I thank you, so much, for sharing this video, and do look forward to hearing from you again, even about the video you just shared. Again, I thank so much, and do look forward to hearing from you.

[@5MinuteBookkeeping]

Hi Ricky. It sounds like you have some good ideas for a niche. The goal is to eventually narrow it down to one niche.

[@mafidelapascual5115]

Amazing Veronica, your such a blessing , you are sharing your experiences and knowledge to this career we have, thanks and God bless, continue sharing great things and topics to us😚💓

[@5MinuteBookkeeping]

You're welcome. God bless you too!

[@kimberlymarvin276]

Thank you so much for the great advice! I really like the idea of finding a niche. Trying to be everything to everybody is hard and takes a lot of time that I don't get paid for. I can see if I get really good at one market, it will take less time and I will serve them better. Win/win!!!

[@5MinuteBookkeeping]

You're welcome. Now the key is to find a niche in industries that are considered "essential businesses".

[@casachinrathi5687]

Wow that is so much help Monika. Thanks very much

[@5MinuteBookkeeping]

You are so welcome!

[@rickeyhughes7380]

Thank you. I will try what you made mention.

[@5MinuteBookkeeping]

You're welcome!

[@kabaray33]

Thanks for the advice.

[@5MinuteBookkeeping]

You're welcome Nenneh.

[@goldengriffon]

Amazing advice, thank you! However, your Facebook page link is not working at the moment (September 30, 2022).

[@5MinuteBookkeeping]

Thanks for letting me know. Please try the link again or go to facebook.com/groups/5minutebookkeeping

[@ua-freedom]

Hi Veronika, thanks for sharing this interesting content. How complex do you think is a real estate niche? Are specific specialization or additional qualifications necessary? Thanks

[@5MinuteBookkeeping]

Hi. I don't work with real estate clients. Look for the training provided by Seth David. I believe he teaches real estate bookkeeping.

[@bluejay6229]

Hi Veronica! I have a question, about narrowing down a niche specifically in the online content creator realm. Do you know if bookkeeping is being sought after in realm? I would assume so because of payments that’s being made and incoming revenue. Also how to go about getting clients or finding those kinds of spaces? I’m a bit excited and trying to get more understanding about the process. Thank you in advance!

[@5MinuteBookkeeping]

That's a great question. Yes, I think that would be a good niche because many content creators sell courses and their income has to be recorded a particular way. I have clients who use Kajabi. You could also find clients who use Thinkific or Teachable. You would likely need to look for those clients in Facebook groups. KZbin is another good option if you want to make videos.

[@normanocampo4466]

Hi Veronica, I would like to raise a question, do XERO and SAGE a popular Accounting / Bookkeeping apps in the US and Canada? Thanks.

[@5MinuteBookkeeping]

They are known and used in the US and Canada but QuickBooks is by far the most popular.

[@roshanpremasiri1489]

What about e commerce @t it suitable for beginners?

[@VeronicaWasek]

E-commerce is quite complex. You have to understand PayPal, inventory, cost of goods sold, sales taxes, payment processors, and clearing accounts. I highly recommend finding a micro-niche in e-commerce such as I have. I specialize in Shopify sellers. You could work with Etsy sellers, Amazon sellers, etc.

[@bouncybutterfly7753]

Yes. You pronounce it correctly. 😁

[@5MinuteBookkeeping]

Thank you!

[@bouncybutterfly7753]

@@5MinuteBookkeeping THANK YOU!!! This was very helpful and gave me a great push to think of how to niche down.