The Importance of Niching Down: Benefits of Finding Your Coaching Niche-Ep.213

Music, welcome to she coaches, coaches. I'm your host, Candy Mozek, and I'm going to help you find the clarity, confidence and courage to become the coach that you are meant to be, if you're a new coach, or if you've always wanted to be a life coach, then this is the place for you. We're going to talk all about mindset and strategies and how to because step by step only works when you have the clarity, courage and confidence to take action. Let's get started. Well, welcome to this week's episode.

I am so glad that you're here now, whether you're a new listener or you've been with me for many, many months, welcome. I am glad you're here, and I wanted to let you know this is the first episode in a Mni series that I've done. It's all about how to discover your best coaching niche. So this is the first of four episodes in this mini series, and I'm going to be releasing an episode each week over the next few weeks, so be sure to subscribe. Then you're going to know when the new episodes drop. I've recorded this episode for you, and this series if you are new to coaching and you don't know what a niche is, why you need one, or how to choose your niche. It's also for you, if you don't have a niche at all, or it's very, very general and you're not sure if you should be narrowing it down. And what might you narrow it down to And then thirdly, it is for those of you who are having a trouble time, a hard time choosing a niche, or if you're feeling conflicted or resistant to even having a niche and you're worried that somehow it's going to make signing clients harder. So I'll tackle a few things in this episode. First thing I'm going to tackle is we're going to start by defining what exactly is a niche. Then we're going to move on to talking about the difference between a niche and a client avatar. And then third, we're going to cover why you want a niche. What are the benefits of having one? In later episodes in this series, we'll talk about how to know that you've chosen a profitable niche. And I'm going to address some fears of choosing a niche, some of those common worries that you might have about choosing a niche. We were talking about niches, oh, so many times I'm saying the word niches, right? We were talking about niches in my group coaching program the other day. It's a program that I lead with some amazing coaches, and I really wanted them to understand why having a niche is important. And so we went through the steps about choosing their niche, and one of them finally said to me, oh, okay, I get it. If I want to sign clients and make money, I better niche down, and I agree that pretty well sums it up. So let's begin with what is a niche? Let's start by defining it. I went to Google, and Google says a niche is a specialized segment of the market for a particular kind of product or service, or you could also say it's a group of people with a specific need. Now this need is sometimes a problem they want solved, or it might be a goal they want to reach. I like to describe the niche as the what or your specialty. Of course, you're familiar with doctors. Doctors are a subset of the medical profession, and you've got general practitioners, GPS or family doctors, but you've also got pediatricians and surgeons and cardiologists. Now, if you were just to look at surgeons, you're going to find that there's even more specialties. There's orthopedic surgeons, there's neurosurgeons, amongst others. So if you look at these descriptions while thinking about a niche, you've got a health related niche, which is doctors, that's a niche, but then you could narrow it down to surgeons, which is a subset, a specific type of doctor, or even narrow it further to neurosurgeons. If you're new, it is okay to begin at that higher level. And as you grow in your experience and your expertise and in your marketing skills and how you coach, you may find it useful to narrow your niche down even further. So thinking about you and your niche, it's something that your dream client wants more of or they want less of, and it's key that for that niche, it's an urgent enough challenge that they want to work with someone to help solve the problem. Income or to reach the goal. If it's not urgent, if it's not pressing, they're not going to do anything about it. It doesn't matter enough for them to get help, which would mean, if it's not urgent enough or pressing enough, they're not going to be looking at hiring a coach to help them. The most common niches are bulked into four categories, money, health, relationships or personal and spiritual development, those are the four most common. So when we talk about money as a high level niche, you could think about it things like as wealth or debt management or career, because of career, is how you make your money or money mindset, which is that how to make more money or keep the money that you have more easily. In the area of health, it could be something like nutrition, overcoming illness, fitness, weight loss. It could be something in that area. And then for relationships, some examples of this could be parenting, dating, divorce or friendships. There's also coaches who focus in on personal or spiritual development, for example, meditation or stress management or connecting to your life purpose. Now it could be said that those personal spiritual development niches are maybe health like stress management is health related meditation and self love connects when with your relationship with yourself too. But for now, let's just say that there's those four general categories. So second, what's the difference between a niche and an avatar? The niche is the what? It's the specific challenge or problem that you help your clients overcome or the goal they want to achieve. And the avatar is the who. Now there's a bunch of different names for Avatar that you're probably have heard you've probably heard target market or ideal client client avatar, ideal client avatar, sometimes abbreviated as ICA or dream client. But consider all of those terms describe the who and the niche is the what. So example of who could be busy moms or CEOs or nurses or teachers, those are the who and the what is the niche. So let's put it together, an example like looks like this, helping busy moms go back to their career after maternity leave. Now the busy mom is the who, and the career is the what. Another example helping CEOs get into the best shape of their life. The CEO is the who, the client, avatar or dream client, and the what the niche is get fit. So now let's dive into this third piece. Why is it important to have a niche? What is the benefit of having a niche? Let's just put it plainly here, when you have a niche, it will help you attract and sign clients. That is the value. That is the main benefit. Just like my client said in the group program, if I want to sign clients and make more money, I better niche down there. It is right summed up. So having a good niche can be the difference between having no clients and a fully booked calendar. It's a pretty important component. People spend most of their time with their own internal dialog, and you could call that the W i i f m radio station. So it's really normal for people in marketing to refer to the W i i f m radio station, and they say, We're all listening to that radio station, and that radio station stands for what's in it. For me, it's the what's in it for me, radio station. So that's because we're always thinking about what's going on with our life, what's happening for us, what challenges are we dealing with? What goals do we have? People are busy. They're living their lives. They're thinking about their problems, dreaming about their goals. When they're ready to look for help, they've got their antenna up and they're looking they're scanning for a solution. When you have a niche, you will talk about those problems or those goals and show people how you can help them solve them. So when I say you talk about the problems, this is what I mean. You talk to people when you meet them, maybe you attend a networking event, maybe you deliver a workshop or offer a small keynote address. You post content on social media. Maybe you've got. A blog or a podcast, you show up with expertise to inform, educate, demonstrate all around that niche, and it's showing your dream client what is possible when they get help. So now what you've got is you've got a match, right? You've got your dream client, your who looking for specific help with the niche, the what, and then you show up demonstrating that you are the help that they want. This makes it really easy for them to see that you are the solution. So it's kind of if you're living in North America, it's kind of like the old commercial for Reese's Peanut Butter Cups. So those are our little chocolate bar where you've got peanut butter inside of a chocolate cup. And they're really popular. We would see TV commercials, and it would always show somebody eating and enjoying their chocolate bar while someone else is sitting and enjoying their peanut butter, they've got their peanut butter jar, and the other person has their chocolate bar, and somehow they collide, and they get the two mixed up. And it always sounded like this, you've got chocolate in my peanut butter, or you've got peanut butter on my chocolate. And that's the pretend story about how they decided that these peanut butter chocolate treats were going to be so delicious anyway. That's what I mean by they have a challenge, and you are the solution. That's the visual that I want you to think of, is like we put those two things together and it's a match. So another benefit is that it makes marketing, your business and your coaching so much easier because your niche gives you guidance about what to create. If you're a fitness coach for CEOs, you're going to talk about the things that matter to your dream client, things like, why is fitness important when you're in a demanding role? How will fitness help you excel at your role, how to get fit when you've got the limited time that you've got, what exercises are going to give you the best and fastest results? And then maybe even stories of leaders who went from unfit to fit and the ways their lives improved that before and after. Do you see what I mean? When you know what your niche is, it makes it so much easier to list out all the ways to create posts and to write messaging and record messaging for your dream client, to show them that you understand, you understand them, and you understand that you can help them. So finally, once you've selected your niche, you're going to use that niche to create a niche, specific signature coaching program. This is a package. So a signature coaching program is a package. It's a series of coaching sessions where you help your clients reach a specific result. This is exactly what your potential future dream clients want. They want the help to get the thing that they want, and your coaching program helps them get it. So it makes it so much easier to sign clients, right, because now you're provide providing the exact thing that they're looking for. So before we wrap this episode up, let me share with you a small story about one of my past clients. Meg, when we started working together, she knew that she needed a niche, but she didn't know exactly what it could be, what it should be, what would be best for her, so she looked at lots of different options and realized that she could choose something that she enjoy, where she had experience. She did the work and chose her niche and with guidance, it was a surprisingly easy process. Now she describes her niche like this, I help women regulate their nervous system to reduce stress and make self care and joy a top priority. So once she chose her niche, everything about her business became so much easier. This niche is her expertise. Of course, she is an expert in many areas in her life. She's a multifaceted, talented individual, but once she decided on this niche, creating social media posts, talking to people, designing coaching programs, was so much easier, and now I see her showing up all the time on social media with a good, strong, cohesive message.

All right, that's it for today. Thank you so much for joining me, and I trust that you've learned a lot about niches. Specifically, today, we talked about what is a niche, what's the difference between a niche and an avatar, and the benefits of niching down for coaches and how it makes signing clients and building your business so much easier. If you want to learn more and you're ready to take the next step, I invite you to check out my. Website, and also below here on the Episode notes, I have links to many of the niche, specific free resources that I've got. I've got lots of great free resources, but for those particularly, check out my website or in the Episode Notes, I've shared the links there for you, and I would love it if this is useful for you. Share it with a friend, share it with another coach who could use the help. Thank you so much for joining me, and I look forward to talking to you again next week. Thanks again for listening today. Please hop on over to Apple podcasts and leave a review. Also, I would love to hear from you did something that I say resonate. What else would you like to learn about? Click the link in the player and leave a comment on the post. This is going to give me great ideas for future episodes, so I can help you best Join me again next week from our coaching support and teaching to help you become the confident coach, you are meant to be you.