Hello there, this is Coach Ajit.
And in today's video,
we are talking about a topic that I get way too many times.
How do I find a profitable coaching niche?
How is it that somebody as a coach, as a life coach,
as a business coach, as a health coach, a wellness coach,
how do you find a profitable niche?
But before we get there,
let's answer a more important question,
which is often asked by coaches more specifically, which is,
do I even have to find a niche?
I'm a coach, I can impact anybody's life.
I'm a coach, I can help anybody and everybody,
why do I have to limit myself by identifying a niche?
Well, here's the reason why
you even want to identify a niche.
You see, you are right in saying,
and thinking that you're a coach,
you can help anybody and everybody.
But what happens when you're trying to help
anybody and everybody is that your conversations
are not directed.
Your focus is not directed.
You're not showing up for exact meetings
looking for a particular type of person,
a particular type of conversation.
And because you're not looking for that,
you are engaging in whatever's coming at you.
So what you're becoming is a lot more reactive
because you are infinite.
And so you're thinking everybody's my client.
And so you are just saying, universe,
send me anybody, which is making your conversations diluted.
It's not leading you to a more interested client,
a more ready client.
So the reason to find a niche is to create focus,
is to create some direction, some area of progress.
And one must also understand
that when you start working on a niche,
it's not that you are then boxed into it.
You will evolve from the niche,
which means you will have served the market,
then you will evolve that market,
and then you will evolve that market,
and you'll keep evolving that market.
Let me give you an example,
let me explain this with an example.
When I started first coaching,
I started with a small micro niche
of a few hundred entrepreneurs.
I was working with only individuals
that were in the online education space
in a particular revenue size.
I said the person that most benefits by working with me
is a company that is doing
anywhere between one to $2 million in revenue,
they're in online education.
And what they really lack is team
and structures and systems.
And so I can coach them and work with them
in all of those things
that will help them grow their coaching business.
While I started working in that niche,
or I started with that niche.
As I was starting to be more expansive,
I realized that my methodologies
actually is applicable to all online businesses.
Then eventually I realized that that methodology
is so translatable that
I could train business coaches in it.
And so I created a Certified Business Coach program.
Then soon enough,
I found that the methodologies that I was using
with my business clients and personal clients,
both were implementable as a life coaching philosophy,
as a life coaching methodology.
And so, I introduced Certified Life Coach.
Now, right now we have open enrollment
for Certified Life Coach.
So if that's something that you're interested in,
we'll post that link below.
And let's get back to the topic.
So that is why you wanna identify a niche,
but then also see your niche
as an ever-expansive opportunity as you evolve,
as your focus and your direction needs to evolve.
And that is what will happen.
But you don't start with saying, everybody's my client.
You start by saying, O type of person is my client,
and here is how you will define that person
and find out if this particular market is profitable.
So, we'll get into questions and exact descriptions
on how to really find out
if a particular niche is profitable,
and if this is the perfect niche for you.
But before we get into that.
So there are two things to consider
when you're identifying a niche.
First is learned skill and second is lived experience.
And both of these ways are the right ways
to get in the market.
Let's talk about learned skill.
Learned skill is where you go to a training school,
like Evercoach, and you train yourself
into the skill of a particular type of coaching.
Say, for example, you decided to do
the Certified Life Coaching program with us,
it's a learned skill that you would have
if you had no prior experience
or have evaluated your own coaching philosophy.
It's a learned skill that you would have.
Now, secondly, is a lived experience,
which means you may have lived a particular life.
And based on that life, you want a coach, right?
There's an experience of life you've had,
you may have integrated some learned skill in it,
but at the same time,
it more stems from your living of your life.
And so the clients that you're really seeking
are more in the direction of people
that are more like you, maybe two, three years ago.
Let's take an example of a lived experience coaching niche.
A lived experience coaching niche is for example,
you are somebody who helps people lose weight
in a gentle way, right?
And because you're working with such an audience,
it might be because you, two, three, four years ago
was living that experience.
And because you lived that experience,
you know exactly who that person is,
you know how they operate, what their feelings are,
what their emotions are.
And so now today you wanna work with this exact person.
You wanna work with an older version of you.
And that is you finding your niche
by asking the same set of questions
that I'm gonna give you in a second,
but because of your lived experience.
Now, you could do the same outcome
if you have a learned skill of helping people lose weight.
You may not have lived that experience fully
or in the capacity that this lived experience person did,
but you are passionate about the topic.
You're passionate about health.
You're passionate about wellbeing.
And so, you can create a coaching niche
or enter a coaching niche
based on your learned skill, right?
Neither of them is wrong,
none of them is better than the other,
it is just experiences or skill.
And your capability that you've developed
from either of the ways really matters
when you are actually working with a client.
The reason why I wanted to give you this distinction
is because if you understand lived experiences
and learned skill, you will be able to say, okay,
which is the kind of coaching I want to do?
Do I wanna do a lived experience type of coach?
Do I wanna only work with people
that have had the same experience as me?
And my market will evolve as I will evolve,
or I'm a learned skill kind of a coach
where I wanna acquire a particular skill
and work with a marketplace.
This is also why coaches sometimes feel like,
if I don't have a successful business,
I can't coach a business, that's not true.
It's not always about a lived experience.
Sometimes it's about a learned skill.
So with that in mind,
here are some questions that will guide you
to identify your niche.
If you take the time,
if you take an hour to really answer these questions,
really ponder on them,
you will find that there will be a sense of clarity
that will come through to you,
that after which questioning your niche
or where will I find a profitable niche
will become a really easy thing.
You will not really struggle with that.
So let's go take a dive into these questions
that will help you identify your profitable coaching niche.
The first question that you must answer is who do you serve?
Who is the person that is the perfect person
for you to serve?
Now, if you were stemming from lived experience,
you will know exactly who this person is.
If you're operating from learning skill,
you may have to get a little bit curious and really asking
who is it that I want to serve?
Is it a man or a woman?
Are they in a particular age group?
Are they parents?
Do they have a particular kind of job?
Are they entrepreneurs?
Who is this person that I'm really serving?
And you'll find that clarity based on
if you had lived that experience,
or if when you were learning a skill,
this would be a question that you would ask
as you were signing up for the program.
Who's the market?
Who's the person that I'll be helping?
Who's the person that I can help, right?
So the first question to answer is who do you serve?
The second question to answer is
what is the problem that you will solve?
And the reason for this question
is so you can direct your energy towards conversations
with these potential clients
in the direction of the problem that you solve.
Let's take an example that you are a business coach.
If you're a business coach and you say, hey,
I wanna work with entrepreneurs who are men over 45
with two kids who lives in a particular part of the country,
I wanna go serve these people.
And you just start talking to this person and you say,
hey, how's business going?
They will give you way superficial information
because that's what a candid conversation looks like.
But if you know exactly the problems
that you're focusing on, you may ask a question.
Let's say, if you're focusing on team
is how are you dealing with remote work?
And are you able to deal with remote work?
Because people are trying to work more and more from home
and COVID has put such restrictions
in most countries and most states.
So a question like that, which would be more directed,
which will help you identify exactly the problem
that you will be solving for a client.
And we'll open up a dialogue in that context.
And that's why it's so important
for you to know exactly the problem
that you're working with.
The third question is why you?
And this really stems into your story or your methodology.
Again, depending on if it's your lived experience,
you probably lean a lot more into the story.
And if you are a learned skill,
you probably lean more into your methodology.
If you did one of our methodologies
like Certified Life Coach or Business Coach,
you could talk about that methodology.
And that's basically the answer to this question.
How do I help solve this problem?
I help solve this problem by helping people
be more aware of what's happening in their life.
I help them really re-engineer their mind
and organize their mind.
I really help them build bio-engineering habits
and protocols for themselves.
And I really help them build a habit of meditation
and guide them through it.
And because of that, you have a clear distinction
of why you are the perfect coach
for this category of person,
which brings me to the fourth question.
The fourth question is what is the pain
that your client will not experience
because they will get the outcome that you defined before?
Here's the reason why this question
is so, so, so, so, so critical.
You see, a lot of the times we go, okay,
there's a problem, right?
Somebody is, let's say overweight
or somebody feels like they have gained too much, right?
During the holidays or something like that.
They feel that way, if that has happened,
that's a matter of fact, and they may state it as a problem.
But what does it feel like for them?
Do they feel more lethargic?
Do they feel like they lack energy?
Do they feel like they can't engage with their partners
or their family members or their kids?
Because that feeling is what we are really solving.
And if you know the feeling that your client has,
the feeling that they're experiencing,
you will find that it's easier to communicate with them
because you can have a heart-to-heart conversation.
You're not just talking surface level, here's the problem,
let me give you five steps to really solve the problem.
You know exactly how they feel
when they are in that problem,
when they're in their head, when they're in that body,
when they're in that situation of business,
when they're in that relationship, you know the pain.
So now you can talk to the pain.
You can really communicate with the pain,
which makes it easier for you to relate to the person.
And not in some superficial way,
which talks about the problem,
but it doesn't really do anything
in the sense of connecting with the client.
The next question that you wanna answer is,
where do these people hang out?
What is a place that I know these people would go to?
Are there groups, are there live events?
Are there organizations?
And if I know what these places are, can I get an invite?
Can I somehow be in that group?
Can I somehow go hang out in that community?
Here's the reason why this is so important, right?
And that is what makes it profitable niche,
and not just a niche.
The first questions will help you identify the niche.
What makes it profitable is your access to the niche.
If you have access, somehow.
It doesn't have to be like,
you need to know the who's who of the community.
For that matter, you wanna know
the people who are on the ground for the community,
because those people are real people
that are connecting, looking for coaches.
They're the ones that are looking for solutions.
They know how to find a solution.
They don't have any ego around them.
They really are looking for somebody
that can help them live a better life.
You wanna find out groups like that.
You wanna go, okay, what are those groups?
Where are these groups?
Can I go hang out in there?
Is there a possibility that I can actually
engage with this community in one way or another?
Can I go to these events?
Can I get an invite to these events?
Because as you get invited to these events,
as you end up in this community,
because you answered the above questions,
you will be able to build a heart-to-heart connection
with you and your potential client.
And then you can follow structures
that lead to great coaching conversations and enrollment,
if the person is right to engage with you,
which brings me to the final step
to really know which one's a profitable niche.
Get invited to a few of those events,
show up for a few of those groups and those events,
and really invest time in listening to what people are saying.
What you're listening for in your potential clients,
in these groups, is there just pain,
or is there an intent to solve the pain?
The reason why you're looking for the
intent to solve the pain is because a lot of times,
people just like to talk about
their pains and problems in life.
They don't necessarily want to solve it.
They're not actually looking for a solution,
they just wanna be able to express the problem, right?
And that is okay if you were a therapist,
but you're a coach.
You're most likely solution-focused,
and most likely your clients are gonna pay you
to get to an outcome.
And that is what these meetings will do for you.
Going into these groups, listening, don't try to coach them.
Don't try to enroll them, don't do any of that.
Go there as a curious listener,
curious and interested person, and just engage in dialogue,
really see what people are doing
to solve the problems that they are saying they have.
And as you interact with all these amazing individuals
that are really trying to solve
these problems for themselves,
you'll be able to identify if this is a pain community.
If this is a community
that is willing to invest time and money,
and of course, that will lead to change in their lives
to get the outcome that they want.
And if they're not interested,
you know this niche is not gonna be profitable.
If they are interested,
before even you made your first offer,
before you offered your first package,
before you did anything,
you now know that this community is willing to pay.
They're willing to pay whatever is required
in context of the outcome that they're gonna get.
And now you can say this niche is a profitable niche.
The steps that most of us miss
while identifying our profitable niches
is we don't do this legwork.
The last two steps are critical.
You need to be able to identify not only the groups,
their characters, their feelings,
but you need to be able to identify,
do we have access to it?
And if you have access,
can you go in there and actually listen to them?
If you would, you would really know
if this is gonna be a profitable niche for you or not.
I'm pretty confident if you do all these steps,
you will be able to identify a profitable niche.
What do you think I missed, if I missed anything,
or what is it that resonated with you in this video?
Share it with me in the comment section below.
I'd love to hear your thoughts.
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that have been trying to go down this road
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Thank you for tuning in today.
I'm Coach Ajit, and you're watching this on Evercoach.