Coaches possess tools and recognized techniques for application in particular scenarios. However, identification of a niche helps in separating a coach from the crowd. Being specific in the services you offer helps in providing unique and valuable coaching services.
The selection of a specific niche that is marketable with great returns is challenging. The first step in nailing your coaching niche is combining a mix of your expertise and coaching skills. The niche you select will increase your visibility while reducing the chances of being overshadowed by other coaches.
1. What are the steps of finding your niche?
What do you enjoy doing?
The coaching industry is broad; they are an innumerable number of specialties you can select. You can choose to major in health and fitness, business and careers, marriage and relationships, drugs, or spirituality. But before you choose a coaching niche blindly, find out your interests or what you are comfortable handling.
In the contemplation process, ask yourself the following questions:
- What type of situations do I handle the best?
- Do l have the right coaching skills to handle those problems?
- What problems have l handled in the past for my friends or relatives?
Remember, your profitability in your coaching career will start after selecting the most appropriate coaching niche. If you fail to identify your specialty, your coaching business will struggle to thrive in the competitive market.
What does your inner circle think?
People who are close to you are integral in the decision making. It is worth asking your close associate what they think of your coaching business. Most of these people can identify your talent, which may seem unfamiliar to you.
2. Ask your inner circle the following questions:
- What problems do you think l handle impeccably?
- Which coaching niche do you think l will thrive?
- What skills or abilities do you think I possess?
In most instances, suggestions from your friends and family will overlap with your thought process. Put all the opinions in a category and select the best. Pick the one you have the right coaching skills and abilities to handle.
3. Survey the Market
The market share is very crucial when selecting a niche. If the market size is ample, the provision of your coaching service will be hassle-free. In a large market, you have an extraordinary chance of having a large share of clients who will be valuable in your business’s growth.
Identifying your niche can be an uphill battle, especially for new coaches. There are different strategies you can employ in the market identification stage:
- Face-to-face inquiries
- Social media accounts
- Paid surveys
Picking your niche with the right market size ensures you don’t lose money in your coaching business. A large market also enhances the profitability of the company while enhancing faster growth. If the market size is narrow, your business will be invisible and struggle to give a good return on investment.
4. Specialize in the Selected Niche
The final part is the execution of your coaching niche. There is a need to identify your coaching business’s unique style, methodology, and structure in this stage. You have the freedom to apply different approaches that resonate with your niche and clients.
The coaching business will take a while before it surfaces or becomes profitable.
Every business takes time to mature and thrive in the market, don’t expect something magical instantly. However, the consulting niche can also fail due to unexpected challenges. Don’t pressure yourself. You have the freedom to try something new or incorporate different approaches until you succeed.
5. Find a Coach or Mentor
I am an experienced coach and consultant and have been helping coaches and consultants in the identification of a coaching niche. My services are customized in ensuring every coach identifies the best and most marketable niche that suits their ability and skills.
If it’s not me, and you are wondering how to find a coach to help you refine and define your coaching business, hire a coach to help you build your practice in the coaching industry. Every coach needs a coach.