8: 3 Crucial Parts of a Smart Coaching Niche

With today's episode we're heading into a new series — Smart and Profitable Coaching Niches.I know you might be groaning about this topic because the whole niche thing feels so hard.But this is my super power ya'll.Helping coaches design a smart and profitable coaching niche is the first thing I help my clients do.Because ... building a coaching business without a smart niche is like building a new house without a foundation.Think about it. If the foundation is good, the house is solid and secure. It won't fall down. If the foundation is crap, the house feels flimsy.If you've been feeling like your business is a bit flimsy and you don't know exactly what to do every day to attract clients that pay you well ... it's worth your time to get this centerpiece of your business right.And I'm sorry to say that a majority of coaches that I meet have glossed over their niche or haven't decided Instead they put up a website selling a certain type of coaching or all types of coaching and it doesn't work.If you haven't listened to my last episode called — Why Coaching is a Hard Sell — check it out. It explains why selling a certain type of coaching is hard -- too hard to enjoy and earn well. It's a great primer for everything I'm going to talk about from here on. Go to prosperouscoach.com/7 to find that episode.Most coaches only consider what they want to coach about. And it leaves out the most essential thing — who you serve and what they want so much they'd be willing to invest money to get it.Over the next several episodes I will reveal my process for helping coaches choose their niche.First a quick announcement ... I'm now offering Strategy Sessions. The way Strategy Sessions work is you and I have a private business coaching session that's recorded and later that session is aired as an episode in this podcast series.A Strategy Session is perfect for you if you are a trained coach who hasn't yet landed your own profitable coaching niche. It's okay if you haven't done anything yet to build your business.It's equally okay if you've tried one or more niches and, for whatever reason, it's not working for you.In our session I'll ask you questions to uncover possibilities. We'll identify a fantastic target audience for you, and brainstorm what they most want and how to apply your gifts and skills to help them get it.Knowing you audience and niche will give you a profound sense of direction and focus for you coaching business. I'd love to work with you.  Okay let's dig into this niche thing!Most Coaches Only Choose a TrackFirst, let's define it because in my nearly 2 decades of studying coaching niches there are some big gaps between what some call a coaching niche and what I'd call a coaching niche.Some people say that a coaching niche is the area you focus on, for example:·      Health and Wellness·      Relationship·      Career·      Business and entrepreneurship·      Executive and Corporate Leadership·      SpiritualitySee, to me, these are not quite niches. I would call these coaching tracks instead. You might have taken coach training in one of these areas ...