143: Should You Stick with Your Coaching Niche?

Do you have a coaching niche that hasn’t paid off yet? This episode explores 10 strategic things that could be missing for you. The full transcript of this episode can be found at prosperouscoach.com/143.Nearly all coaches are hoping for more traction in their niche. And I want you to understand something that may take the sting out of this. Nearly all businesses of all kinds are hoping for more traction all the time!So you may be thinking: “It sounds like it’s not worth it to start a business!” It absolutely is worth it if you’re serious about being the driver of a career that’s tailor made for you. If you want to choose how and when you work and with whom … if you want to be the one who decides your own fees, when you take time off and how often … your own business can give you that.BUT you have to be in it to win it. Win it a bit at a time until you find the sweet spot. Screw your courage to the sticking place— as Shakespeare advised — and take risks knowing that you CAN make it with time and patience.Maybe you don’t have time or patience. That in itself is a deal breaker. It’s not a good idea to start any type of business out of desperation. If you are on your last legs financially starting a business is not a good risk for now.Start your business from a place of strength. Start your business when you’re hungry enough to motivate yourself and not so hungry that you’ll be under enormous pressure.You don’t have to be independently wealthy to start a business. You just need a wealth of patience plus the willingness to try something, give it a fair shot for a decent amount of time while making small adjustments to improve yourself and your strategy.ALLOW your business to unfold but don’t sit back and wait for it to happen without you.I know I’ve used this metaphor in the last episode … your business is your baby. You would not judge a child harshly for not having it altogether in the first few months or the first few years would you? No, because you know there are developmental stages and every child has it’s own pace. That’s true for your business also.If you’ve had your niche for a long time – let’s say a couple of years – and it hasn’t begun to pay off the way you want it to, should you abandon it?Well the answer is possibly. Sorry there’s just not a clear straight forward answer here because there are so many variables to consider. Some have to do with the way you’re behaving and some have to do with strategy.So let’s look inside your niche and your business. And by the way, I did a whole podcast series called Coaching Business Checkup that culminated in a beautiful free downloadable assessment to help you identify what needs to change in your coaching business … and yeah, it could be your niche for sure. It could also be several other things. If you want to check out that series start with prosperouscoach.com/62To read the FULL transcript and see links to other resources click here.And if you want some help assessing your niche and business so far, grab a Strategy Session with me at prosperouscoach.com/strategy.