Who are you?
What do you offer?
To whom do you offer it?
These are critical questions that must be answered if you hope to build a thriving coaching business and, answering them is often not as simple as it seems.
As a passionate, heart-centered coach, your goal is to help others discover a better life or build a growing, vital business. To do this, you must identify your passion; yet, your business can’t just be about your passion. The key to business success is in finding niche clarity; identifying the “sweet spot” in your market that aligns with your passions AND fulfills a need that your clients are willing and able to pay to resolve.
Without this connection to your business, you won’t feel authentic in your marketing efforts and coaching, which will undermine your effectiveness in both.
Next, you need a clear understanding of your target market. Otherwise, you’re likely to end up with a jumbled mix of offerings that can be confusing to potential clients and very difficult, if not impossible, to market. The key here is to research what’s needed – not what you hope to offer – but what is actually necessary and is not being provided, or not being done well.
The most effective way to build your business is to do all you can to build your reputation as an expert in an area that fulfills your client’s needs, and that provides you with a unique competitive advantage. You want people in your niche to know that you are the “Go-to” person for the type of coaching you’ve chosen.
Defining your Target Audience
Finally, you need to know who will benefit from what you have to offer – as well as how it will benefit them. You need to answer this question for them: “What’s in it for me?”
Once you’ve answered that question, it’s time to build a profile of your target audience, with programs and services tailored to meet their needs. There are two things to be conscious of as you work through the process of defining your audience and your offerings to them:
- Focus too broad – By spreading yourself too thin, trying to build your business by being all things to all people, you’re more likely to prevent business from coming your way because no one can figure out exactly what you do.
- Focus is too narrow – On the other hand, while your efforts do need to be centered on specific pain points – and the solutions you offer, your success requires defining a market niche that has an audience that is large enough for you to approach and work with.
Having a clear sense of your niche is just the beginning of the journey. It’s an essential piece, but it’s not the endpoint. Verifying that your niche idea is viable is critical to your success.
For help in defining your niche, and gaining clarity for your coaching brand, contact me today.