Why is niching in a coaching business such a foundational principle of your coaching business model? Why is a coaching niche important?
If you have a huge marketing budget and a ton of time, then go ahead and be a life coach or a business coach or a relationship coach. But most coaches are home-based and work with very limited funds. They really need to start making money as soon as possible to stay in business. That’s when focusing on a very specific niche becomes key to your success.
In this video, you’ll learn why having a niche is crucial for your coaching business and how it can lead to greater opportunities and financial stability.
You know, I came from a country where businesses didn’t exist. I came here from the Soviet Union in 1992. I had a classical music background.
I knew nothing about business ownership or proprietorship. And yet I was able to build a half a million dollar business within just a few years after launching it. Why? Because I niched, I focused on a very particular target audience and I decided to help them solve a very specific problem.
And by the way, when you say that you’re a relationship coach, you’re not niched just yet. Same thing as being a leadership coach, a parenting coach, a wellness coach, any other coaching specialty that you focus on.
Specialty alone is not enough. You must also focus on the target audience, a group of people who spent time together, discussed the problem that you want to help them solve. And they have already started their search for a paid solution.
Finding a perfect niche is not an easy task. Once you find it, though, everything starts falling into place.
I’ve seen miracles happen, you know, after 10 years of struggling as a general coach, my client was taking her newly found niche by storm. She couldn’t believe all the wonderful opportunities that came into her life when she focused on one specific niche market and helped them with a very specific set of problems.
This was her second six figure year and all because she made a decision to work with a particular group of people and become an expert in solving their problems. I think that what’s missing from a lot of coaching businesses is becoming an advocate for a specific group of people.
So as a relationship coach, you could focus just on step families, just on newlyweds, single women, whatever that group is, as long as they congregate or share information with each other, exchange ideas, they meet, they discuss, they’re searching for problems.
Can you be successful without a coaching niche? Yes, but you need to then do a lot of networking, asking for referrals, public speaking, and maybe become a TV or radio or social media personality. And that is going to be a lot harder and will take a lot longer. So here’s to a coaching niche and to helping you find it faster.
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Milana Leshinsky is the author of “Coaching Millions” and “Simplicity Entrepreneurship” and the originator of telesummit. She is also the creator of Coaching Genie, a coaching platform that allows you to deliver coaching programs and scale your business with simplicity. She’s passionate about helping coaches, authors, and speakers leverage their expertise through creating programs and overcoming fear of technology. Milana came to the US as a music teacher from Ukraine almost 30 years ago. When she’s not working on her business, Milana writes music and enjoys Latin ballroom dancing. To learn more, visit Milana’s website at https://CoachingGenie.com
