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.
A couple of years ago, the coaching industry magazine choice featured an issue devoted to “The M Word” — too discreet to even print the word in large type. Money is perhaps the most taboo topic, yet it’s in the back of every coach’s mind – how to make more of it, more easily and consistently.
For me, it boils down to this question – why do some coaches make more than others? I’m studying this right now, not only for myself, but also for coaches who seem to only get pro bono or trade clients. And for the coaches who continuously over-deliver, under-fill their business, place a low value on their services, and haven’t yet realized how the power of coaching grows when clients fully invest in themselves. It can be different for you, if you really want it to be.
The Big Secret
The #1 reason why some coaches make more than others — they ask for it! That’s the big secret.
You’ve heard “the squeaky wheel gets the grease”. That applies here too. It’s not about being smarter – except for the fact that they are smart enough to ask. You don’t need more coaching skills and certifications. And it’s not about having more experience or being better at coaching and marketing. But you do have to believe in yourself enough to ask for more.
People who make a great living in coaching think strategically about money often enough to plan for it. They analyze their sales, and innovate ways to increase them. That doesn’t mean they are obsessed with the bottom line or