If you’re a coach struggling to attract clients, the missing piece in your puzzle might just be finding a coaching niche. Choosing a specific niche market can significantly impact your success.
In this video, we’ll explore the importance of having a coaching niche and provide you with practical steps to help you identify and evaluate your ideal market. Let’s dive in and unlock the potential of discovering your coaching niche.
Finding a Coaching Niche: Important Considerations
I found that most of the business-related problems coaches are experiencing is from not selecting a niche for coaching.
I’m gonna give you a really awesome niche discovery exercise that I’ve used with a lot of my clients over the years, and it works every single time.
So if you’re ready, let me start by sharing some of the most important considerations for you to keep in mind when you are looking for a niche to choose.
1. Focusing on a specific niche will allow you to concentrate your marketing efforts in a particular area.
So that’s an important reason to niche as fast as possible so you don’t waste your time anywhere else.
2. Instead of limiting you, it can help position and brand your business.
Contrary to popular belief, specializing in a niche doesn’t limit your coaching practice; instead, it helps position and brand your business. By becoming an expert in a specific area, you establish yourself as the go-to coach for individuals seeking guidance within that niche. This specialization builds credibility, enhances your reputation, and attracts clients who are specifically looking for your expertise.
3. You will be able to develop more targeted marketing materials that speak directly to your ideal clients.
One of the key advantages of finding a coaching niche is the ability to create targeted marketing materials that resonate with your ideal clients. By understanding their unique challenges and aspirations, you can craft compelling messages that speak directly to their needs.
4. Just because you target a certain group, doesn’t mean that you can’t coach other people outside your niche.
So somebody might come to you asking for coaching, and it’s gonna be your decision at that moment, whether to take them on as a client or not.
5. Choosing a target audience is not forever.
Selecting a target audience is not a permanent commitment. Give yourself the freedom to experiment and adapt by trying out a niche for a certain period. Try it for a year, if you don’t enjoy it, pick another.
6. Having a niche will increase your chances of getting referrals.
Finding a coaching niche increases your chances of receiving referrals. If somebody can’t describe what you do and who you help, they won’t be able to refer clients to you. So it’s very important that people understand who you help and what problem you solve.
7. Your ideal client profile may change over time.
For those of you who know Thomas Leonard, the founder of coaching as a profession, he always recommended coaching a hundred people as soon as you can, and it’ll help you determine who you really enjoy working with, what types of situations you are good at coaching them on, and what kind of problems you enjoy helping people with.
8. Let your niche find you.
Pay attention to the types of clients who hire you as a coach. It’s very telling. You may notice that some of them fall into one or more specific niche groups, giving you a lot of help in selecting who you want to work with.
9. Multiple niches are fine.
Don’t be afraid to explore multiple niches initially. As you gain experience, you may discover that certain niches are more enjoyable, profitable, and accessible than others. Evaluating the outcomes and benefits of each niche will help you identify the one(s) that best align with your goals and aspirations.
Finding a coaching niche might very well be the most frustrating issue I’ve ever seen coaches struggle with, but when you finally discover it – everything falls into the right places.
Steps to Choosing a Coaching Niche:
To assist you in picking the right coaching niche, here are the 5 things I ask my clients to do:
1. List all your past professions (all of your professions, all of your careers).
2. List all professions of 7 of your close family members. You need something where you can relate that affinity is the connection between you and your niche market.
3. List professions of your close friends. Who do you know and which professions do they represent?
4. List 3 most difficult circumstances you had to overcome in your life.
5. List 3 most difficult circumstances any of your family members had to overcome.
Take a few minutes to do this exercise. By the time you’re done, you should have a list of 20-30 ideas for specializing. These specialties and niche markets have the highest potential for your coaching business because you will be more familiar with them.
The key question you then should ask yourself is “Which of these specialties and niche markets have the highest potential for your coaching business?”
Factors for Niche Success:
To evaluate the potential success of your niche, consider the following factors:
- Are there coaches who already work in this field? Or are you the only one or the first one? You never want to be the pioneer. Pioneering costs a lot of money and you can lose a lot of time and money as you are trying and going into a brand new niche where there’s no coaching happening.
- Are there places to easily reach your target audience? Can you go somewhere online or offline, stand in front of a hundred people, 200 people and they are your target audience members?
- Can members of your target audience afford coaching? Some people just don’t ever invest in coaching. It’s not something that they will do.
- Can you see yourself developing multiple products and programs in this niche? Assess the scalability and growth potential of your niche for future offerings.
Finding a coaching niche is a transformative step for your coaching business. By concentrating your efforts, positioning your brand, and developing targeted marketing materials, you can attract and serve your ideal clients more effectively.
Remember to be open to experimentation and evolution, as your niche may evolve over time. Utilize the provided steps to identify your niche and evaluate its potential for success.
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Milana is an entrepreneur, business strategist, and marketing mentor to coaches, authors, and speakers. She is the author of two books, “Coaching Millions” and “Simplicity Entrepreneurship”, the creator of telesummit. She is also the creator of Coaching Genie, an online platform for designing and delivering coaching programs with ease. She came from Soviet Ukraine almost three decades ago as a classical musician with zero knowledge of the business world and has since built multiple six and seven-figure businesses. Today she’s passionate about showing entrepreneurs how to use simplicity as a growth strategy. Goodbye complexity and overwhelm. Hello, simplicity, profits, and ease.