I know for a fact some of you are working hard and doing a truckload of free sessions, only to hear at the end of each free session "no thanks." What happened? What went wrong? Maybe nothing.
There are several important foundational steps to having a successful coaching practice. One of the pivotal ones is having a profitable niche. You can have the first page of Google and 100,000 social media followers, but if your niche is not a profitable one, it won't matter. We have all heard it said,"Do what you love and the money will follow." But at the same time, you need to determine if what you love is a profitable niche.
We are at a crossroads in our lifetimes. Because of the subprime collapse of 2007, and subsequent stock market crash, as well as all of the other financial disasters that have beset our world, people are more results oriented than ever. There is very little impulse buying compared to 2006. People today want to know what they are getting and what it is going to cost.
Gone are the days of buying something and not caring whether it works out or not. People who are buying coaching programs and coaching services are doing so to solve a problem in their life.
Think of it like this, if you woke up this morning with a headache, you want something to make the headache go away. Aspirin or any other headache remedy, whatever works, is fine with you. Do you care where the manufacturer of the headache remedy is located? Where their employees went to school? Of course not! Neither do the people needing the solutions you can provide care about your specifics. Your prospect has woke up with a "headache" and they want it to go away. If they can find you, and can find your "solution" without having to wade through pages of irrevelent info, you will have a client.
Couple this "headache" metaphor with the typical consciousness in our world around that "money is tight" and you have a market where people are looking to make their "headaches" go away, fast and with results that justify the expense.
This is where your niche selection is so important. You must be able to get in front of the right people in your niche and cut through the "fluff" to help them.
My friend, Carey Peters at Holistic MBA, has created a free niche starter kit. It is designed to help you determine if your niche is profitable, and also how to "narrow your niche." If you are having difficulty getting paying clients, give this free coaching resource a try.
Click here for your free Niche Starter Kit
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Respectfully yours,
Steve Davis
