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DEVELOPING A NICHE 
FOR YOUR LIFE COACHING PRACTICE
(5 Steps to a Profitable Coaching Niche)

I suspect you have heard this before. The benefits of finding a good niche are well documented in the coaching literature. The key question for most coaches is how do I find and develop my own niche? So if that's what you’re thinking, here it is in one sentence.

The key to finding a great niche is identifying where your passions and strengths allow you to package coaching as a tangible solution to your target market's biggest unmet needs. 

This requires some explanation. Let's streamline the process into 5 straightforward steps:

1.       First, identify your top 3 -5 niche possibilities (i.e. - The people you are most drawn to work with; Work at home moms? Business owners? Leaders? Soul seekers?) Pay attention to the groups that naturally turn to you for help, as well as those groups you have had some experience and exposure to. (The more you know about any particular group, the more you understand the problems they are willing to pay to get resolved.)

2.       Create a matrix to rank each of your possible niches through the lenses of your passions, strengths, and the needs in the marketplace. (IMPORTANT - To see a detailed example of what I am describing here, go to http://www.acoach4u.com/nichetool.htm)

3.       Once you have identified your top niche contender(s), dive into research mode. Interview at least two or three prospects to better identify; what their greatest needs are, how to best communicate to the niche, what your competition looks like, how to quickly position yourself as an expert to the niche, and how to best package your coaching as a solution to the niche's greatest unmet, tangible, needs - that they are prepared to pay money to resolve. By package I mean arrange your coaching in some tangible parcel; 6 months of 1-1 coaching with specific content (things they will learn), workshops, teleclasses, webinars, etc.  Pay particular attention to groups that will allow you to access large numbers of prospects quickly. For example groups you can speak to, or that would allow you to write articles for their association journal, would have a big advantage over groups you could only access one person at a time.

4.       Test market your solution. In other words create a program, (1-1 coaching program, teleclasses, workshops, etc.) to try out your coaching solution, gain testimonials, and learn more about your niche. Sometimes you may have to almost give your first program away, but it will be worth it.  You will learn so much more about what of your material works and what doesn't, and what other needs the niche may have.  And the testimonials from the participants in your beta program will be invaluable in future selling.

5.       Roll out your finished product while seeking every opportunity to speak, write, present or otherwise share your knowledge with your target audience to increase your exposure and solidify your position as an expert solution provider to this niche. The greater the "expert" profile you have with the group, the more responsive they will be to your invitation to participate in your program. When you are just starting out, you may have to use a 2-step selling approach whereby you give away a free sample, such as a free introductory teleclass, so prospects can get to know you and get a feel for the value you can add.  (And if you decide to direct marketing to your niche before they have heard of you, just be prepared for very low conversion rates. Personally, I much prefer to invest the time to develop a profile and good reputation with a group before I offer them any programs.)

So let's say you go through steps 1 and 2 and determine your ideal niche is shortsighted brain surgeons. You would then go out and interview some myopic neurosurgeons to find out what their biggest needs are.

Let's say you find out this group struggles with how to build the confidence of potential patients. And let's assume you find out these struggling surgeons have a problem paying for 1 to 1 coaching. In response you might decide to "package" your coaching in a series of 10 weekly teleclasses on "BUILDING SKY HIGH PATIENT CONFIDENCE", subtitled, "10 proven strategies for myopic neurosurgeons to establish unwavering levels of patient trust."

Once you have your program, test it out. Run your first teleclass with a group of friendly physicians.  See how it goes and collect some testimonials. You will learn a lot.  And with all you have learned you will be in a great position to write articles for the Myopic Neurosurgeons Journal, or speak at their annual convention.  As you become recognized as an expert in your area, you will find it easier and easier to fill your programs. Eventually, your prospects will be coming to you.

Developing a great niche takes as long as it takes. You may have to go through this process a few times before you arrive at your ultimate niche.  Keep at it; the rewards are worth it. And also remember you do not have to do it all by yourself. Look for opportunities to partner with someone who is an expert in the area, another coach, or someone else who already enjoys great access to the group. 

Looking for tips and insights for your personal and professional growth plus essential and advanced marketing information, lessons and strategies to help you grow your business fast.  Sign up for my free monthly newsletter. 

Want More Life Coaching Clients? 

Check out the SOS (Sick Of Struggling) Marketing Teleclass for Coaches.

"This was EXACTLY what I was needing to hear and learn."  

The next SOS teleclass is starting soon. As usual this will be the marketing-your-practice-on-a-budget program in which I share everything I have learned from my years in coaching.  I love delivering the program and I am delighted that so many past participants have put to use so much from it.  (You can see the recent testimonials at http://www.acoach4u.com/marketingprogram.htm ).

This program comes with a satisfaction guarantee and is designed with the intent that you will find it the single most valuable business building exercise you've ever been part of.  (Many participants realize over a 500% return on investment within the first few sessions, and it still costs less than $25 per session BEFORE your discounts.)

If you are interested in joining us, you will need to act quickly. Go to  http://www.acoach4u.com/marketingprogram.htm and check out the program. If you decide to join us, send me an email to let me know if you are in. (steve@acoach4u.com).  

Next, direct anybody else you think might benefit from the course (coaches you trained with, friends, etc.) to the same link so they can reserve a spot and earn you both a discount. (Remember this is a win-win proposition. They get 10% off for being referred by you, and you get 10% off for each referral that signs up.  (The sooner you start referring, the more discounts you can earn.)  

I would love to have you join us. 

"I got 3 new clients over the last 2 weeks.  They are beginning to role in.....
with far less effort." 

“The niche development work is amazing. You made it so easy for me.”

"I want to let you know how much I’m enjoying the SOS course and how much VALUABLE INFORMATION I’m getting from it." 

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