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With today’s episode we’re heading into a new series — Smart and Profitable Coaching Niches.
I know you might be groaning about this topic because the whole niche thing feels so hard.
But this is my super power ya’ll.
Helping coaches design a smart and profitable coaching niche is the first thing I help my clients do.
Because … building a coaching business without a smart niche is like building a new house without a foundation.
Think about it. If the foundation is good, the house is solid and secure. It won’t fall down.
If the foundation is crap, the house feels flimsy.
If you’ve been feeling like your business is a bit flimsy and you don’t know exactly what to do every day to attract clients that pay you well … it’s worth your time to get this centerpiece of your business right.
And I’m sorry to say that a majority of coaches that I meet have glossed over their niche or haven’t decided Instead they put up a website selling a certain type of coaching or all types of coaching and it doesn’t work.
If you haven’t listened to my last episode called — Why is Coaching a Hard Sell? — check it out here.
It explains why selling a certain type of coaching is hard — too hard to enjoy and earn well. It’s a great primer for everything I’m going to talk about from here on.
Most coaches only consider what they want to coach about. And it leaves out the most essential thing — who you serve and what they want so much they’d be willing to invest money to get it.
Over the next several episodes I’ll reveal my process for helping coaches choose their niche.
First, a quick announcement …
I’m now accepting applications for free On Air Coaching.
The way On Air Coaching works is you and I have a private business coaching session that’s recorded and later that session is aired as an episode in this podcast series.
On Air Coaching is perfect for you if you are a trained coach who hasn’t yet landed your own profitable coaching niche.
It’s okay if you haven’t done anything yet to build your business.
It’s equally okay if you’ve tried one or more niches and, for whatever reason, it’s not working for you.
In our session I’ll ask you questions to uncover possibilities. We’ll identify a fantastic target audience for you, and brainstorm what they most want and how to apply your gifts and skills to help them get it.
Knowing you audience and niche will give you a profound sense of direction and focus for you coaching business.
I’d love to work with you.
Okay let’s dig into this niche thing!
Most Coaches Only Choose a Track
First, let’s define it because in my nearly 2 decades of studying coaching niches there are some big gaps between what some call a coaching niche and what I’d call a coaching niche.
Some people say that a coaching niche is the area you focus on, for example:
- Health and Wellness
- Business and entrepreneurship
- Executive and Corporate Leadership
See, to me, these are not quite niches.
I would call these coaching tracks instead. You might have taken coach training in one of these areas and don’t worry because it will be very valuable to you and your clients.
You might have set up your website, messaging and offers to sell that certain type of coaching. That usually doesn’t work well as I covered in the last episode.
Few people buy coaching for the sake of being coached. But they will invest in help to overcome specific urgent problems and to reach their goals.
To be able to speak about specific goals and challenges focus your efforts on a specifc audience.
Choosing a Specialty is a Smart Step
Now some coaches take a wise step towards a smart niche and name a specialty.
For example, a wellness coach might focus on weight loss, or a relationship coach might focus on dating.
That’s smart because it speaks to a specific PROBLEM people have. I’ll come back to these examples in a minute.
If you’ve specialized on a certain problem, take an additional step and target a unique audience.
The 3 Essentials
1. A single narrow target audience.
2. That target audience’s urgent problems and desires.
3. Your savvy solution for that audience which incorporates your skills, talents — everything in your toolbox.
Let’s take these one at a time.
A target audience, also called a target market or a tribe by Seth Godin, is a unique group of people defined by a common set of specific interests, challenges and goals.
I’m reading his latest book called This is Marketing. He says:
“Find a corner of the market that can’t wait for your attention. Go to their extremes. Find a position on the map where you and you alone are their perfect answer.”
– Seth Godin, This is Marketing
For example, what if you are a relationship coach, specializing in dating and you then decide to focus on single parents as your target audience …
Wouldn’t you agree that single parents have a set of unique challenges and goals when it comes to dating?
They have to consider their kids in every aspect of dating and also as the relationship grows.
Pre-Selling a Coach Client Without Selling At All
So suddenly, instead of selling relationship coaching, you become a dating specialist for single parents. You messages and offers are specific using language single parents relate to. And it makes building your coaching business easier in so many ways.
The single parent feel special because they feel heard and understood by you.
When you speak their language in your blogs, podcasts or videos, they trust you and you are effectively pre-qualifying and pre-selling them on your programs.
Another example … let’s say you are a wellness coach specilizing in weight loss and you target corporate executives.
Execs are overworked, overstressed individuals who need help to enhance their performance, feel more confident and present so they can get short listed for a promotion or garner favor with shareholders.
Do you see how in both examples targeting one specific audience would help you as the coach to stand out and attract attention fast?
Getting Attention is Job #1
And it’s not easy. We live in a too busy and highly distracted world. So your message will only snap people to attention if it’s highly relevant and to be relevant it has to be specific.
If you haven’t chosen a track yet, don’t worry about it. You can actually skip over that part.
Instead target an audience that’s easy for you to find and connect with, find out what they want so much they’d be willing to invest in your help to get it.
Coaches serve people. That’s why your coaching niche should be designed starting with the unique audience you serve and their real problems.
Next week I’m going to give you a clear picture of the advantages to choosing a smart and profitable niche.
You’ll be amazed how it can change your day to day as well as setting you up for long term success and and incredible opportunities.
Mentioned in This Episode
This is Marketing by Seth Godin
The next episode is 12 Ways a Smart Coaching Niche Empowers You