EP335: Michael Alliman - Part 2: How To Dig Into The Power Of Your Niche

Michael Alliman: I think becoming the best you can be at a particular industry niche, for me, it's paramount in being able to scale a business quickly. Because if you can answer the questions that are being asked to people that don't even know what their questions are to begin with, then you have created a name, or for lack of a word, we say it, you know, other people say, oh my gosh, you've got to see what Michael's doing for us. You need to call him. You're listening to The Successful Bookkeeper with your host, Michael Palmer. Listen each week as inspiring guests share their secrets of success to help you increase your confidence, work smarter, and build a business you love. This episode of The Successful Bookkeeper is brought to you by purebookkeeping.com. The proven system to grow your bookkeeping business.

Michael Palmer: Welcome back to the Successful Bookkeeper Podcast. I am your host, Michael Palmer, and I have a fantastic show for you today. You're about to listen to part 2 of our interview with Michael Olliman, who is the owner of Olliman Business Group and Reconcile Bookkeeping and Business Solutions. In this episode, Michael digs deep into the power of niching when telling us about his success with the real estate agent bookkeeping niche. It's a great conversation. Let's get to it now. I did have a question as I was going to ask earlier on about this niche that you, you work with. I mean, one of the things we've talked about, the niche in the United States, we call it a niche in Canada, is the power of that. And you told the story of how you found it. And it's also interesting that you're working with a younger clientele. And tell me a little bit more about Was it challenging to shift? Because I would imagine that younger clientele in the real estate, they're not doing it for a reason. And you've, you've got to literally, I would imagine, shift their behavior and you're trying to work with them in their world. But have there been bumps and bruises along the way and trying to bring these people over to the way that books should be done or maintained in, in their business?

Michael Alliman: There have been— not, not with everybody, but there's definitely some that, that just don't understand. For example, and this is going to get very specific to real estate, but, but, you know, my clients receive a check or ACH for a commission and it's at the net amount of that commission. So What they don't see is their cost of sales, of which there is a