How to Have a Successful Life Coaching Business: Choose A Profitable Coaching Niche

Starting a successful coaching business from scratch demands that you get clear on the specific service you offer. Let me be very honest with you, “Life Coaching services” is not specific enough.  Let’s face it, your potential clients are not sitting around thinking….. “hmmmmm what I really need is to get some coaching.”

No, that would be silly. No one sits around and thinks like that.

Here’s a more realistic scenario:

Your potential client is awake at 3 am turning a problem over and over in their mind. (for the 100^th time). Their thoughts may sound something like this.

“I don’t know what to do anymore, this is really bugging me. This problem (fill in the blank) has been bothering me for so long. I’ve got to deal with this, I don’t want to live like this anymore. Something needs to change.”  

Or, “how will I ever reach my goal?  I’ve done everything I can possibly think of and I don’t seem to be getting any closer. Maybe I need some help. I don’t know what else to do at this point.”

These two scenarios, a problem that someone needs help to solve or a goal they are trying to reach. Both of these are potential niches.

Your Niche is “what” you coach on. It’s best to describe it in terms of a challenge your target market may have or the results/outcome you provide. In other words,

What problem do they have that you help solve or what goal do you help them reach?

For example, stressed executives crave work-life balance or new parents want to get a good night’s sleep.

So how do you decide what your niche is?

Here are a few questions you can use to begin to narrow down your niche.

• Why did I become a coach in the first place?
• What am I really, really good at?
• What do people always ask me for help with?
• What challenges have I overcome in my life?
• What do I enjoy learning about? What am I most passionate about?
• What am I always talking about? You know that thing others get tired of hearing about from you? Yes, that!!!!

Hopefully, this gives you some ideas and will help you narrow down the type of coach you want to be.

Notice, I’m encouraging you to choose a niche where you are already talented and have plenty of experience.

Do know it’s common for all of us to discount our unique talents. We often think that if it’s easy for us then it must be easy for everyone. This is simply not true.

If it’s easy for you, it’s because you have a natural talent, unique viewpoint or have spent years unknowingly mastering a skill.

Listen I know you’ve spent time and money in your coach training program, perhaps you’ve even stretched and taken a certification program,  and now you’re faced with starting a small business. It can be overwhelming, and many new coaches will worry that if they get specific, they will miss out on potential clients.

They worry they won’t end up with enough business. Essentially, we worry there is not enough to go around.

Personally, I was no different when I started out in my business. I endlessly worried about choosing the perfect niche. The one where I would never miss getting a new client. What I found was:

When I kept my options open I spoke and wrote so generally, people had no idea what I actually did. They couldn’t relate to my message, and in the end, I helped far fewer people.

Because I was trying to speak to everyone, in the end, I was speaking to no one.

Common questions and some answers:

Won’t I get bored only coaching on one topic?

If a potential client comes to you and you feel you can work together you’re not going to turn them away even if their issues are not a perfect match to your niche.

Also, once you’ve started coaching, you grow an established trusting relationship. While you may start by helping someone navigate a career change. When they want some coaching on how to deal with a personal relationship, they’re more than likely going to ask you for help too.

What if I’m being too specific? I’m worried there won’t be enough people in my niche and I won’t have enough clients. These are common concerns people have when they wonder how to start a life coaching business.

There are many types of life coaches and if you’re worried there aren’t enough people in your niche to serve, I highly recommend you do this little exercise.

Identify your niche and do a Google search. Look at how many search results show up.

Here’s an example, perhaps you’re considering a niche as a Kitchen or Cooking Coach.

A Kitchen or Cooking Coach could help a client set up a new kitchen and pantry with all the supplies as well as support them as they learn how to meal plan and cook. Or you could coach your clients to effectively meal plan and shop for healthy foods and create a repertoire of favourite family meals. Or you could coach newly single people how to shop and cook for their smaller household.

Google’s algorithm customizes the search results based on your prior search history and geography. This means your search results will differ from mine. But this will give you the general idea.

If people are searching for any of the above 6 phrases, there is obviously a lot of interest and demand for the information as well as a very potentially viable business niche.