Jason Staats: AI, finding your niche, and leveling up your tech stack

Transcript

(00:05) Introduction

Jason Staats:
Welcome, everybody, to today’s event: Ask Jason Staats Anything. Jason, how are you? Good to see you.

Davis Bell:
I’m good. Great to be here. Thanks for having me.

Jason Staats:
Of course. So I’m Davis Bell, CEO of Canopy, and I’m extremely excited to be joined by Jason.

Jason is about as close as we get to a celebrity in the accounting industry. I’ve seen people ask him for selfies at events, which… does not happen to me. So I’m a little starstruck.

Jason spent 12 years in public accounting, built and exited a $5M CAS firm, and is now a leading voice in the profession through his platform Jason On Firms. He also founded Realize, a community for progressive firm leaders, and has spoken at 40+ conferences worldwide.

Jason, thanks for being here.

(01:32) Where Should Firms Invest to Grow Faster?

Jason Staats:
If you still owned your firm today, where would you invest to grow faster and more efficiently?

Davis Bell:
I’d focus on getting crystal clear about who you serve.

The biggest blocker for most firms is the fear of not serving everyone. But narrowing your focus is where real growth happens.

I was talking to a barber recently, and he’d only ever worked with generalist accounting firms. When I told him there are firms that specialize in barbershops, he lit up. That idea was exciting to him.

We tend to think “it’s all the same,” but to clients, it absolutely isn’t. People want to work with someone who understands their world.

(02:57) Why Are Firms Afraid to Niche Down?

Jason Staats:
What’s behind that fear? Is it worrying there aren’t enough clients? Or fear of turning away money?

Davis Bell:
A lot of it is just unfamiliarity.

There’s a concept from The Win Without Pitching Manifesto:
You’re standing in a room full of doors. If you walk through one, you can’t go through the others.

That’s how niching feels.

But what people don’t realize is that when you walk through a door, you enter a new room with more opportunities. You’re not limiting yourself—you’re going deeper.

(04:19) How Do You Choose a Niche?

Jason Staats:
How should someone choose a niche?

Davis Bell:
Look for three things:

Expensive problems
Solve something that has a big financial impact.
Rare problems
The more unique the problem, the less competition you’ll have.
Something you enjoy
Ideally, you actually like working with these clients.

Accounting gives you a unique advantage—every industry needs you. So why not combine it with something you’re interested in?

(06:37) Does Specialization Increase Pricing?

Jason Staats:
Does niching help firms charge more?

Davis Bell:
It should—but only if you’re actually delivering higher value.

Niching doesn’t happen overnight. It’s built one client at a time. Eventually, you’ll see that certain clients are far more profitable—and that’s when you double down.

(08:06) Is a Niche Big Enough?

Jason Staats:
Some niches seem tiny, but firms still succeed in them.

Davis Bell:
That fear is outdated.

Pre-internet, you were limited to your local market. Today, you can reach highly specific audiences online.

If you consistently talk about a niche—say, tax implications for golf caddies—you’ll attract exactly those people.

(09:05) Trends Firms Should Watch

Jason Staats:
What trends should firms prepare for?

Davis Bell:
AI is a big one—but not just directly.

It’s improving alternative solutions like TurboTax. Those tools are moving upmarket quickly.

For example: TurboTax now offers full-service small business tax prep for around $1,600—often more than what firms charge.

That means firms need to move upmarket and provide higher-value services.

(12:00) Biggest Self-Defeating Behavior

Jason Staats:
What’s something firms do that hurts themselves?

Davis Bell:
Most firms already know what they need to do—they just haven’t done it.

But more specifically:
They let bad clients (C and D clients) dictate decisions.

You end up optimizing your firm for the people you shouldn’t even be serving.

Instead, build your firm around your A and B clients.

(14:20) Private Equity in Accounting

Jason Staats:
How do you see private equity impacting the industry?

Davis Bell:
It’s easy to criticize, but PE models actually resemble modern firm structures—less partner-driven, more business-oriented.

It creates more options for firm owners, which is a good thing.

But whether it’s right for you depends on your goals. Not everyone wants to build a firm just to sell it.

(16:35) How Firms Feel About AI

Jason Staats:
How are firms reacting to AI?

Davis Bell:
Leaders are excited. Staff are often nervous—especially if they haven’t used it yet.

Once people start using AI, that fear usually disappears. It becomes clear that it helps more than it replaces.

(18:33) Why Hands-On Experience Matters

Jason Staats:
Does actually using AI reduce fear?

Davis Bell:
Absolutely. Ambiguity is what makes it scary.

Once you use it, you realize:

It removes tasks you don’t want to do
It opens up new opportunities

(20:06) What Happens to the Work?

Davis Bell:
Every task we do today is on a path to automation.

The real question isn’t what goes away—it’s what replaces it.

(23:17) AI Adoption vs Capability

Jason Staats:
How do you see AI evolving in accounting?

Davis Bell:
The capability curve is skyrocketing—there’s massive investment.

Adoption is slower, but accelerating. It’s similar to the cloud transition, but happening much faster.

(26:34) Most Exciting AI Use Case

Jason Staats:
What excites you most about AI?

Davis Bell:
Knowledge automation.

AI is incredible at extracting insights from conversations and transcripts.

Imagine:

Every client meeting recorded
AI instantly pulling insights from years of conversations
Your firm’s collective knowledge becoming searchable

That’s a huge unlock.

(30:21) How to Start Using AI

Jason Staats:
How should firms get started?

Davis Bell:
There are two sides:

AI built into your tools
AI as a general assistant

For the second, adoption has to be bottom-up.

Best approach:

Meet weekly
Share what worked and didn’t
Learn together

There’s no single “playbook.”

(33:56) Advice for Tech Champions

Jason Staats:
What about people pushing tech adoption internally?

Davis Bell:
Your goal isn’t perfection—it’s confidence.

The best way to get there is through community:

Talk to other firms
Learn from their experiences
Avoid reinventing the wheel

(37:46) All-in-One vs Point Solutions

Jason Staats:
How should firms think about tech stacks?

Davis Bell:
Everyone wants all-in-one—but no tool does everything perfectly.

The key:

Choose a strong core system (like practice management)
Add point solutions only when necessary

Balance is everything.

(41:29) Using Social Media for Growth

Jason Staats:
How should firms approach social media?

Davis Bell:
Most firms don’t need more clients—they need better clients.

Marketing helps you attract A clients.

One great client can replace multiple low-value ones—and solve:

Capacity issues
Profitability issues
Staffing stress

(43:43) Career Growth Advice

Jason Staats:
What do you wish you knew earlier?

Davis Bell:
Success isn’t just logic—it’s people.

The people who grow fastest are those who can:

Meet others where they are
Bring people along
Build alignment

(45:19) How to Stand Out Early in Your Career

Jason Staats:
What helps someone stand out?

Davis Bell:
Leadership without a title.

Be the person others rely on. Support your peers. Build influence.

Technical skills get you promoted—but people skills determine how far you go.

(47:01) Final Thoughts

Jason Staats:
We’re out of time. Jason, thank you—this was awesome.

Davis Bell:
Thanks, man. This was fun.