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Signs of Economic Growth

Signs of Economic Growth


by Hugh Duffy

Signs of Economic Growth

As the U.S. economy continues to show some signs of steady growth, we are seeing evidence ourselves in the selection of niche development for accounting firms. For example, we are seeing some accounting firms stepping back into the real estate and construction accounting sectors. By all means, the last five years have been devastating to new construction and real estate but year-to-date signals have encouraged several accounting firms to jump back into attracting these sectors again.

Real Estate Accounting websites

The second sector which signals some optimism is restaurant accounting. We've recently been approached by several CPA firms that want to attract more restaurants and hospitality related clients now that the economy appears to be improving steadily.

Restaurant Accounting websites

Over the past five years, we've all noticed the increased demand for IRS Representation and Back Tax Work. While demand for tax resolution work will linger, we can't help but notice some signs of optimism.

In the months ahead, demand for niche websites in the following areas would demonstrate further signs of economic growth:

  • Wineries
  • Manufacturing
  • Car Dealerships
  • AgriBusiness/Farms/Growers

Niche development is a marketing process designed to accelerate your growth of a certain type of client, understand their needs intrinsically, develop unique solutions to exceed their expectations, command superior pricing, and dramatically increase your referrals. And when done well over many years, measuring your market share to determine where you stack up relative to other firms and becoming known as the best firm around at servicing that niche.

If you have a new idea for a niche accounting service, let us know. We'd love to help you attract more clients for a particular service which will ultimately improve the mix of business clients in your practice. At Build Your Firm, we've been advocating niche development since 2003 and support over 30 niches. In some cases, we help accounting firms maximize the opportunity on the internet by customizing a website around their expertise. In other cases, we actually manage the marketing for them in an outsourced marketing capacity.

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Hugh Duffy, BYF CEO and Co-Founder

Hugh is the consummate marketing coach for accountants and takes pride in the impact that it has on their practice, and lives. Hugh has more than thirty years of marketing experience. Since 2003, he has been teaching accountants on how to improve their marketing and make more money from their accounting practice.