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Are you starting your life coaching business but not sure what niche to choose that will be profitable?
Today I'm sharing how to guarantee a profitable niche for your life coaching business! My first coaching business failed, but my second business was fully booked within two months. I'm excited to share what I learned so you don't make the same mistakes and you can have a successful coaching business the first time.
Okay, so there are three awesome ways I’m sharing today that you can use to guarantee a profitable niche for your life coaching business.
#1 Don’t reinvent the wheel.
If you’re feeling inspired to create a new program, package, workshop or course, you can absolutely create something new - new in the way you teach it. But what I don’t suggest is trying to create a completely new idea that hasn’t yet been sold.
Why? Because it will likely take you longer to grow your business. And my opinion is that the more friction you encounter during this start up phase, the lower your chance is of succeeding in business.
So, here’s the deal. If you are creating something that people don’t yet understand or don’t yet know about, you’ll first have to educate them on what it is. This means you’ll have an extra obstacle to overcome before your potential clients can even begin to understand how you can help them. This will make whatever you have, harder to sell. Period.
So, to help you guarantee a profitable niche for your life coaching business, I suggest first starting with areas and problems that are already proven to be profitable.
#2 Do a validation of your potential niche (or problem you solve) online.
I first learned this process from digital marketer, Pat Flynn of smartpassiveincome.com. So, one example of a quick validation online would be to check out blogs about a potential niche. On blogs you can see what topics and problems bloggers are creating and what their community is responding to.
To do this kind of search, in a blank google search type the word Blog and then your keyword.
Your keyword will be a topic related to your potential niche.
Then, you can review the responses that come up and start seeing what might be a profitable niche for you.
Another way to do a quick validation online is to check amazon book sales. Check for any hot or bestselling books in your potential niches (and you can also see what people are saying about that book in the review comments).
And I’ll mention one more way to validate your niche online. When you have a problem - where do you go to search for how to solve that problem?
Google of course! Just like from Pat’s tip earlier in this video.
And just think about this. Billions of people around the world are typing the problems they are looking to solve right into that tiny search bar.
And you can get your hands on that data as well and use that to validate a profitable niche - which is something I show my clients how to do in my programs.
So, the bottom line here is that you are looking for a niche that exists already, the problems people are already looking for help with and paying money to solve.
Okay, don’t worry - I’m not going to ask you what’s in your own google search history, but I’d love to hear…
What was the last online training, course or workshop you bought to help you learn more about growing your life coaching business? Share in the comments below! I’d love to see what you’re learning.
#3 Let people tell you what they want.
One of the processes I teach my clients is to connect with real people who are experiencing the challenges with their potential niche. By talking to these people, you can ask them what they most want help with and what format would be most helpful for them to receive it in.
So, instead of assuming what people want - you’ll let those people tell you exactly what they want.
Simple? Effective? Awesome? Yes, Yes, Yes!
So, let’s recap how to guarantee a profitable niche.
First, don’t reinvent the wheel. Create something in a niche that’s already selling.
Second, Do a validation of your potential niche online.
Third, Let the people in a niche tell you what they want.
And here’s the deal.
I know when you’re just starting out with your life coaching business, it can be really confusing to decide what direction to go with for your niche.
You might worry about choosing the wrong one. Or you might have so many ideas that it’s hard to narrow down. My best advice is to think of it all as practice. You’re on a business building journey and you will get there. Don’t give up!
Do you want more guidance on how to guarantee a profitable niche? It's so much easier when you have a clear message itself and a hot market. Click below to download my guide 7 STEPS TO GUARANTEE A PROFITABLE MESSAGE & MARKET.
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