How to Choose Your Most Profitable Coaching Niche
Today we’re going to talk about choosing your niche. It can be confusing knowing exactly where to start when building your coaching business from scratch. But choosing a coaching niche is one of the big steps you must take to grow a wildly successful business.
I’m writing this because I’ve noticed that many new coaches need help setting their business up. They are caring, well-trained coaches, who want to make a difference, but very few schools provide much support, about how to start and grow a profitable coaching practice. Truly, you can only be a successful and profitable coach if you have clients. I get it, I know that sounds obvious 😊 but you'd be surprised how often coaches miss the boat. It doesn’t matter what size of business you want, you might be eager to quit your 9-5 and become a full-time coach or maybe you want to grow a vibrant side hustle. But you still have to create a business and grow your client list or coaching is just a hobby.
When you start out you may feel confused because there are so many unfamiliar industry terms. You may have heard about Target Market (Avatar, Ideal Client,) and Niche.
So let’s start be clarifying these two terms.
Your Target Market is “who” you coach. It is also known as your Ideal Client or Avatar. For example, you could have a target market of C-suite executives, new parents, or retirees.
Your Niche is “what” you coach on. It’s best to describe it in terms of a challenge your target market may have and the results you provide. Or in other words, what problem do you help to solve? For example, stressed executives crave work-life balance or new parents want to get a good night’s sleep.
Today we’re going to focus on simple steps you can take to choose your Niche.
There are eight main areas of focus:
- Executive and Leadership (For example, stressed CEOs.)
- Health and Wellness (For example, how to improve physical health or nutrition.)
- Confidence and Self Empowerment (For example, how to overcome shyness.)
- Love / Relationship (For example, how to find the love of your life.)
- Family / Parenting (For example, how to be a better a parent.)
- Life (For example, how to be happier.)
- Career (For example, how to change industries or how to get a promotion.)
- Business (For example, how to improve management skills.)
And most successful coaches will focus on one of these areas. However, you will need to narrow down your niche much further and find a very specific challenge you help solve.
For example, a Parenting Coach could help:
- Families adjust to a new baby.
- All members of the family adjust to welcoming an adopted child.
- Blended families thrive.
To choose your niche, it’s best to look closely at yourself. Ask yourself the following series of questions:
- 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!!!!
Once you’ve answered these questions. Ask your closest friends and family members for their input on some of these questions too.
Then, do a Google search to see if there are other coaches in a similar niche. Don’t get discouraged if your search brings up many coaches doing what you would like to do. It’s actually good news. When your search shows many people focusing on the same area, it means there are potential clients who are willing to pay for your services.
People are wired to look for solutions to their problems. We want our lives to be easier, smoother, more fulfilling and more fun. Every potential client listens to the radio station WIIFM also known as “What’s In It For Me?” So when a potential coaching client hears about you and your services the first thing they do is compare what they think you do against the problems they are having. If your niche is too general or undefined, they probably won’t try to figure out whether you can help them. They’ll just bypass you entirely, even if you are a perfect match!!!!
Invest the time to clarify your niche in detail, since it serves both your clients and your business. Give your clients the information they need right at the start. Your clear communication makes it easy for them, and as a result, they will take the next step. They will ask you for more information or schedule a sample session, all important steps that must happen to grow your thriving business.
If you like this kind of training and you want more, click here to immediately download a copy of my freebie “147 Proven Niches For Your Coaching and Wellness Business”>>>>>>>>> https://candymotzek.lpages.co/147-proven-niches-for-your-coaching-and-wellness-business-page/