Coaches often ask me: “Is this a good coaching niche?” What they really want to know is — will focusing my energy this way repay me with a consistent flow of clients who are willing to invest? That’s the 6-figure question.
First, do you really need a coaching niche?
Ultimately, there are three reasons to niche: ease, reach and profitability. We choose a niche so we can market less, earn more and help more people transform.
If your intention is to build a solid long-term coaching business that you can rely on for a satisfying income, it’s worth it to choose a smart niche now before you invest time, money and energy on your branding and marketing.
A smart niche helps you:
- Quickly become a coach in high demand through momentum.
- Leverage your efforts and concentrate your message, instead of being all over the place.
- Make a bigger impact and command higher fees.
Test the viability of your current coaching niche with these powerful questions.
Coaches are more business savvy than they used to be. Now, every coach knows that when you land a smart coaching niche, all the doors of opportunity open up and prosperity flows in. It solves so many problems:
- It’s easier to enroll clients without being salesy.
- It clues you in about how to connect with future clients.
- With many niches, you can charge more and clients will stay longer.
- You can move beyond your region into international coaching.
- All your efforts can be leveraged for a bigger impact and result.
And, if you choose wisely, you quickly become a coach in high demand. That means you earn more, coach more, and marketless. That’s the way I like to do it.
Sometimes it’s a smarter move to say ‘NO’ to a new client or opportunity.
But how do you know when to say ‘yes’ and when to say ‘no’? And, what’s the difference between a good opportunity and the RIGHT opportunity for you?
The right opportunities will align with:
- Your values and strengths.
- Your work-style preferences.
- Your business model and vision.
Factor those things into a set of “success criteria” as a way to filter out your best opportunities before you commit.
There are many theories about the best way to choose a coaching niche. Start broad and let it find you. Focus on a topic you know. Go with your passion. Or my favorite, target a narrow and hungry audience for quick success. All of them have some appeal. Some are more effective than others.
Ultimately, you want a coaching niche that helps you use your special gifts to do good in the world while you do well financially.
However you come to it, when you land on the right niche for you, it’s as if all the doors of opportunity open up and prosperity flows in. It solves so many problems:
- How to talk about what you do without selling generic coaching
- How to authentically inspire enrollment
- How to leverage your efforts for a bigger impact and result
Test your coaching niche to see if it will payoff here.
What if the coaching niche you’ve pursued isn’t helping you? What if it’s actually holding you back?
It happens, and it can be painful, especially if you’ve invested a lot of time and money. Then it’s hard to let go, even if it’s not working. Release it. There’s a better path ahead.
If you’re determined to do good in the world while doing well financially, then it’s worth asking whether you should choose a coaching niche or not. There are some very compelling reasons why you’d want to niche as well as a few circumstances where niching would not be right for you. I’ll cover both in this post.
In the “pro” column, targeting a viable coaching niche opens wide the doors of opportunity and prosperity by helping you:
- Solidify your brand.
- Earn more by specializing.
- Become well known quickly.
- Break through filters and capture more attention.
- Get more of the right kind of referrals.
- Build “social proof” with colleagues and future clients.
- Focus and leverage everything you do so you can work less.
- Stand out in the crowd of service providers.
- Positively impact a unique group of people.
Since the nineties, when coaching became a profession and consulting of all types burgeoned, there are more solopreneurs in the world than ever before. That means niching is more of an advantage than it used to be. In fact, it’s nearly impossible to get your share of attention from potential clients if you don’t stand out strongly in some way. Your niche helps you stand out in the most complete and long lasting way.
The best way to attract clients shifted dramatically when social networks sprang up and became massively popular. People started sorting themselves into sub-sub-groups based on messages that attract them, and filtering out everything else. It’s changed how our potential clients focus their attention, form alliances and make buying decisions.
Seth Godin’s game changing book Tribes talks about these groups and urges entrepreneurs to become leaders of a tribe.
What does this game change mean to you? If you want to do well financially while you do good in the world, it’s more important than ever before to stand out in the crowd of service providers and stand up for a unique “tribe” of your own which means choosing a viable coaching niche. You can do this!
Don’t get me wrong, I’m not saying that you have to be a social networking expert to attract clients steadily. I’m saying that the phenomenon of social networks has changed the way people are attracted to mentors and professional resources. It’s reduced the effectiveness of standard selling and marketing techniques.
Responding to the Sea Change
Leading coaches, consultants and trainers have felt this sea change, and have been making shifts in the way they attract clients.
I encourage you to follow suit. Stop trying to convince people to buy your coaching, consulting and training. Instead, show your tribe (also called a coaching niche, target market or target audience) that you understand them and can help them get where they most want to go right now.
If your message is specific and hits the mark, they will follow you, refer other like-minded people to you, and help you raise your star while doing what you love.