How this Highly Lucrative Accounting Advisory Service Helped Teresa Scale Her Firm



  • The Importance of Choosing a Niche
  • Creating a Product for the Customer
  • Appealing to the Right Clients

Ways to Connect 

Millennial Bookkeeping and Advisory Services

Teresa Oliver is the firm owner of Millennial Bookkeeping and Advisory Services. They are a remote firm that focuses on building business systems with an accounting foundation. Teresa works to ensure all of her clients can increase their bottom line. She does this through connecting to clients within her niche, creating specialized products for her clients, and appealing to business owners who will find the most value in her services. 

The Importance of Choosing a Niche

When starting out, Teresa was told by plenty of advisors the importance of choosing a niche. Because of her familiarity with the specialization, she chose to focus on the construction/trade industry. While she considered this her niche, she also offered services for other small businesses as well. However, clients within her niche receive more specialized programs to help their business succeed.

Teresa chose this niche because there are so many moving pieces. She started to realize how easy it is for business owners in this field to drop the ball in certain areas. She wanted to be there to help them put and keep all of the pieces together. Teresa then realized she could create programs that work well for her client’s specific needs. From there, she created the “fleet dashboard.”

Creating a Product for the Customer

When Teresa started in her niche, she realized nearly 75% of the time, money was being lost because it was mismanaged. To combat this, she created the fleet dashboard, which is essentially a financial dashboard for each vehicle a business owns. 

With fleets being essential for the majority of businesses within her niche, she realized the importance of tracking them properly. The fleet dashboard will show how much a vehicle is costing the business, how much it is making, and even the cost of the employee operating it. It can be thought of as an income statement for each vehicle. 

Teresa found that breaking these statements down to an individual level tells whether the vehicle is a “money maker or a bottom line breaker.” The fleet dashboard includes the integrity of the vehicle, the net profit, and what you could lose if it goes out of operation. Buying and maintaining a vehicle is a huge investment, so business owners need to be sure it’s going to produce for many years to come. 

With the help of Teresa’s fleet dashboards, procedures can be set up so that each vehicle is producing at its maximum value. Along with her attention to detail and eye for spotting where businesses are wasting money, the fleet dashboard pays attention to areas of the business owners tend to let fall through the cracks.

Appealing to the Right Clients

Teresa wasted no time in explaining that she doesn’t work to get a customer. For her business, she strongly believes that simply pitching her services should be enough convincing. From there, if a client chooses to move in a different direction, she believes it is for the best. Her services are incredibly detailed and the initial process actually requires a lot of work from business owners. If they are not all in with her services, they won’t be helpful anyway.  

When pitching to clients, she is sure to include prices. Her four-tier system usually requires a few thousand dollars a month in the beginning. Once the majority of the planning is complete, and automation has been put into place, the price may drop a bit, depending on the client’s needs. 

Because she demands a lot of client cooperation in the beginning and charges premium prices for her services, she stated the importance of appealing to clients that best fit her business. For Millennial Bookkeeping and Advisory Services, small construction/trade businesses making over one million in a year are her ideal clients. Her roots, however, will not allow her to just focus on the more advanced clients. She still offers resources for smaller businesses to help them grow. Once they’ve reached a point where Teresa will be useful, she then offers them her services. 

Overall, Teresa is proud of where Millennial Bookkeeping and Advisory Services has positioned themselves. She’s happy they are able to provide specialized services to her clients and that her services are valuable enough that she gets to choose which clients will be best to work with. 
To learn more about Teresa and Millennial Bookkeeping and Advisory Services be sure to listen to the full podcast above!

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