10: Why Do Some Coaching Niches Fail?

It's heartbreaking but some niches never pay off. They just don't ever get off the ground really.And it's confusing because they are often about topics everyone cares about or targeting audiences that NEED so much help.But that's part of the problem.When people buy support to get what they need they'll most often turn to free resources or to known resources like therapists or doctors.It's WANTS that inspire investment in programs that lead to personal transformation and most other expensive services and products.WANTS drive investment in things and experiences, not needs.Seekers and Non-SeekersSeekers are what I call the type of people who invest time and money from their own pocket into their personal and professional growth.Coaches are seekers.Seekers:Are driven by their desire to make a meaningful contribution to the world.Have social personalities (even if they are introverted) and enjoy influencing others.Are always actively working on themselves and their top goals.Want to become masters at what they do.Buy and read self help or educational books.Will go to an experiential weekend retreat and invest a bundle in it.Pay for vocational training, like coach training, so they can do something they really want to do.Not all people are attracted to those things. Sometimes it's circumstantial. Sometimes it's behavioral.3 Types of Non-Seekers1. People who were taught to be fiercely self-reliant.2. People who invest most of their time and money on things they value more than their own personal growth.3. People who don't value themselves highly right now for whatever reason.So you can see it's important to consider whether your target audience is full of seekers or not.Popular But Usually Profitless Coaching NichesI'm about to list some audiences who are not generally seekers, which means they are less likely to invest in hiring you to help them overcome problems and reach goals.Full time stay at home momsThey invest time and money in their kids. Yes, they'll love your free stuff and Facebook groups but they won't consistently or significantly invest in support to be a better mom, live a more balanced life, or to thrive in motherhood.A client once came to me who had put 5 years into building a coaching business focused on moms. She is a highly intelligent go-getter who diligently tried every marketing approach. She had great programs, products, freebies, an effective website. She had a big list of moms but few bought anything she sold and usually only something very low cost. It was heartbreaking for her. She had to abandon it.Another client decide to work with mom entrepreneurs. That was different because the focus was helping them to build their business and still have energy for family. The goal to build a business shifted their behavior from the non-seeker to seekers.Empty nestersThese people do have real challenges but the state of being an empty nester won't inspire them to invest in programs to get through that experience unless they already know they want to fill their time with a business venture. Again the shift from empty-nester to business owner changes the buying behavior.DivorceesThere is no doubt these people could use some help. I've seen many coaches try this audience and not make a good living at it. The only exception was a lawyer who became a coach. She had ready access to newly divorced individuals through her colleagues and past clients who valued her.... to see more profitless coaching niches