There’s riches in the niches.
I’m going to start by admitting that I made some HUGE mistakes when I first started coaching. Mistakes that I learned from and I pass on to you so that you don’t spend months or even years trying to figure it out yourself.
I know you hear this all the time, and you should- because it’s true. If you help everyone, you help no one. Being too broad and general in your industry will get you no where fast. I know. I started off as a life coach who wanted to help people live a happier life. I didn’t attract a darn soul, because I wasn’t specific about my skills and who I could help.
After about a year, it finally hit me and my niche became working specifically with women who had were in a cycle of toxic relationships that had low self esteem and confidence. My niche was CONFIDENCE. My target market was women in shitty relationships. That clarity got me a lot of interest and I was actually now able to get people on the phone to coach them.
Eventually, my business evolved to working with entrepreneurs and confidence and then it just blew up from there.
If you’re having trouble attracting your ideal clients (or any clients at all), you may be in the wrong niche. Here are five reasons why you may want to reconsider your current niche.
No one else is doing it– I know this seems counterintuitive in a world where we are all trying to be different and stand out. But if your niche is something so unheard of, it proves two things: There isn’t a need for it, and people aren’t willing to pay for it.
Your market can’t afford you– If your target market is young single moms who just finished high school, and you have services in the $3000-$5000 range, you are just setting yourself up for failure. You target market can’t afford your services. Set realistic expectations and if you are hell bent on helping a certain type of person, then make sure your fees reflect that.
They aren’t coachable– Sometimes your target market just isn’t coachable. They never heard of coaching, don’t believe in it, don’t see the value in it and aren’t open to it. Your job is not to try to convince them that they need coaching. There are also times when you target needs more than just coaching, and therapy is a better solution for them. Do you research and make sure that you are the correct solution to your target market’s struggles.
It doesn’t fit your business model– There are some niches that require 1:1 work to be truly effective. Some niches just don’t work with a group model. Often times I see coaches want to go to the one to many model in a very private niche. Think about your audience. If you’re working with relationships and couples, abuse survivors or any industry that is really personal, they may not be open to the idea of sharing their personal lives with a whole group of people.
You haven’t gone there yet– People are very savvy and smart. They can smell fake a mile away. Make sure that you are experienced in your industry and niche before you create a business around that. This can mean anything from previous work experience, education, coaching certifications or trainings, or your personal journey there. If you are a coach who wants others to invest in your programs, but have yet to invest in a coach- something’s wrong. If you teach people how to build a six figure business, but have not done that yet- something’s wrong.
As you start to evaluate your niche, think about all of your previous experiences and lessons, training, education and schooling. For me, as much as I hated being in corporate, it gave me the skills I needed to thrive as a business coach. I was in marketing for 10+ years, built an International clothing brand from scratch and did social media for one of the largest casino resorts in Atlantic City. Those skills I was able to use and put together into a business where I now I help business owners get more visible and crush it online so they can attract their ideal clients effortlessly.
Hello! I’m a hypnotherapist in Wisconsin, and I’m trying to figure this niche thing out. I’m swinging between anxiety relief/management, confidence enhancement, and ADHD improvement. THIS IS TRICKY! You seem very knowlegable about this. Any specific pointers? Thanks for reaching out!