fbpx
Joanna Lott Coaching

Let’s explore the most lucrative and profitable coaching niches to help you find your niche sweet spot. Jo emphasises the importance of getting niche-specific to attract clients motivated to pay for solutions to their real problems. She dives into six promising niches – business, executive/leadership, financial, career, life, and relationships – sharing high-level strategies for positioning your services.

Timestamps:

[00:0002:00] Introduction

[02:0006:30] Business & Executive/Leadership Coaching Niches

[06:3009:30] Financial & Career Coaching Niches

[09:3012:00] Life & Relationship Coaching Niches

[12:0014:00] Recap & Closing Thoughts

Whether you’re just starting out or re-evaluating your niche, this episode will help you find your lucrative coaching focus.

Useful Links

FREE LIVE Workshop: How to become the go-to-coach – 24 May 10am-11.15am.

How to secure more coaching clients’ free training

Download the 12 ways to get clients now

Learn about The Business of Coaching programme

Connect with Jo on LinkedIn

Rate and Review the Podcast

If you found this episode of Women in the Coaching Arena helpful, please do rate and review it on Apple Podcasts or Spotify.

If you’re kind enough to leave a review, please do let Jo know so she can say thank you. You can always reach her at: joanna@joannalottcoaching.com

Enjoyed This Episode?

Don’t Miss the Next One! Hit subscribe on your favourite podcast app to be notified each time a new episode of Women in the Coaching Arena.

Transcript
undefined:

Hello and welcome to Women in the Coaching Arena podcast. I'm so glad you are here. I'm Jo Lott, a business mentor and ICF accredited coach

Microphone (Samson Q2U Microphone):

and I help coaches to build brilliant businesses. I know that when you prepare to enter the arena, there is fear, self doubt, comparison, anxiety, uncertainty. You can tend to armor up and protect yourself from vulnerability. In this podcast, I'll be sharing honest, not hype, practical and emotional tools to support you to make the difference that you are here for. Dare greatly. You belong in this arena.

undefined:

Hello, welcome to the 63rd episode of women in the coaching arena. I am so glad you are here. I am about to leave, to go to Sussex for a yoga retreat for two nights. So I cannot wait. The sun is shining and it's right next to the beach. And I'm so, so excited. But I wanted to squeeze in this episode before I left, because I have just had a message from uh lovely coach who has been trying to market her business. And what I noticed when I looked at her page was that she's selling balance. And whilst that's all we want and that's why I'm going on my yoga retreat. And that's what most of us are seeking in life. It sadly, doesn't cut through enough to actually pay for. So in this episode, I will focused on the most lucrative coaching niches. Because sadly, no one pays for coaching. And I remember when I first trained as a coach and heard this, I thought, what rubbish, what are you talking about? And now I get it because we just don't prioritize things unless there is an urgent must have need in our life. So it's a really tricky thing and I encourage you to always analyze exactly why you are paying for something. So let's talk about types of coaching niches and how to make them even more profitable. So let's start with the business coaching niche, because this is the one that I know most people think is the only one you can actually make money from doing. But actually what I've discovered since doing this niche myself is that actually lots of people also fail in this niche. And like, you may be thinking oh, you know, the only people making any money is the business coaches. And I used to think the same, but even if you are going to do business coaching, you need to get more specific. So if we think about different ways of getting more specific in this niche, firstly, would be to get more clients. And I have a client I'm working with at the moment who said she didn't want to mention the client word. And I said, I also don't want to mention the client word, but I have done polls and all sorts of things. When I say, what do you ultimately want? And people just say clients. Well, this person wants it to do is talk about growing your business and those more generic terms. But we also need to add the, so that, you know, so grow your business so that you get clients and get to make the impact and income that you want. So even in what may seem to be profitable niches, you still need to be super specific. What exactly does that mean? Is that. Tech companies get clients, is that coaches get clients, is that counselors get clients. Like who exactly are you going to specialize in helping. Another one in the business, coaching niche is sales. So you can be a specific sales coach to help people to really nail those conversations. You can also get hired by companies to help them to train their salespeople. I had someone that was previously in my business of coaching program. So this particular coach that I was working with really, really struggled with the lack of team and social events and that type of thing. What I noticed was she was an amazing sales person. And I was like, how have you never thought to combine your sales skills with training teams so you get that buzz of being with a team and using your coaching skills with others who need that sales skill. Because I do think often what we do as a coach is try and immediately forget everything we ever did in our lives and where I have seen people have the most success is by utilizing all of their previous experience and bringing that into that business. So there are lots of different angles you can go with this business coaching niche, but I do not want to spend too much time because I want to cover lots of other niches as well. So let's talk about the executive leadership coaching niches now. So I have had lots of clients successful with helping people build leadership skills. Kate waterfall hill managed to cut through the noise with really resonating posts about bad management. And that is how she now helps leaders become better leaders because they may see themselves or see someone they know in those posts and think. Yeah. You know, you've really got it. You understand where I'm at? Another person that has done really well is Louise Thompson. She initially was focusing on helping comms leaders develop their leadership skills. She is still doing that. Then she's also now using Tik-Tok, which helps you to be a little bit more generic. Because Tech-Talk will promote your content to those who are interested in leadership. So you don't have to be quite as niche if you're using TikTok as you do on some of the other platforms. So Louise has done super, super well resonating with her ideal client because she was a previous comms director. So again, how can you use your experience? To really resonate with your ideal client, knowing that most ideal clients want to work with someone who has achieved and been through the same thing that they want to go through. And as coaches, we know that that isn't required, but as someone purchasing coaching, a lot of the time, that is something that people look for. Let's talk now about financial coaching. I have another client who I am desperate to help move into this type of coaching. She has been a finance director for years. And is really resisting niching down, despite the fact she absolutely loves this niche, but she is fortunately going on my yoga retreat. So I'm looking forward to discussing that when we are there. Because it's such a great niche in so many ways. So you can obviously niche into something like the money mindset which denise Duffield-Thomas does really well. But you can also niche into helping business owners with their finances. If that's something that you are happy to do. And balance that with the emotional side as well, because a lot of the time, it's not just about the numbers. People will avoid looking at the numbers because of the fears and all of those other things. So it's such a great niche. If you are happy to really dive into that, understand the numbers, but also understand the emotional side of things. Let's move on to career coaching niches. I have had lots of clients successful in this niche and I previously used to be a career coach so I know this niche well. What lots of my clients have been successful doing is figuring out what they want to do next in their career. So that kind of career transition phase. I've had a wonderful client, Natasha gain lots of clients in this niche to help them figure out their next move. There are also ways of going really specific in this niche. And lots of my clients have done this by choosing a specific industry that you want to help people change career with. Also in the career coaching niche, you can have gain a promotion. Or get a better paying job. That is something that most people want because we are all obsessed by climbing the ladder. So that is another angle you can use in career coaching. Let's talk about life coaching now, because this is what I find the trickiest niche to sell. Because despite the fact we all need every angle in our life sorting out. Most of the time we get one urgent problem that makes us purchase something or look into doing something. So maybe you are having difficulties in your marriage or relationship, and that's the kind of crux that makes you think I need to do something. But then at that point, You are looking for someone to help you with that particular problem rather than general life coaching. The same with someone helping you with your kids. Like there will be a crux point that helps you to think you know, my kids are leaving home and now I'm feeling really lost and I need to figure out what I'm going to do with my life. So that is a way, if you do want to do more general life coaching, you can think about a specific time in people's lives that they will seek out support. I guess what could also fall into the life coaching niche is overcoming an addiction. One of my clients, Chloe helps people to stop drinking. so helping people with a specific problem in their life. I think the more general one, like I talked about at the beginning of cultivating balance is really tricky. If you really do want to go into this, I would advise, picking that type of person, like entrepreneurs who need balance and need to connect back to their vision, why they doing this, that type of thing. So anything you can do to gain an extra edge especially in this general life coaching niche will really, really help you. Okay. The final one I will cover is relationship coaching. And this reminds me to tell you that people pay for health, wealth, and relationships. So think about how you can hook your particular niche into those buckets, health, wealth, or relationships. Generally wealth, and any return on investment you can, who can too is way easier to prioritize, but then there are also people that will pay for health and relationships. So in this relationship, coaching niche, you may want to help people improve their relationships with their partners, maybe with their children be a better parent. Maybe it is a dating coach to attract a great partner and what's holding them back. I'm hoping you are noticing the theme through reflecting on this podcast. That people pay for specific problems to be sorted out in their life. And that's a really tricky mindset shift for a coach when we learn, we can help everyone with anything. And we are so desperate to do this and use our amazing skills. But I think if you are struggling with this, please just think how much of a difference will you be able to make when you can actually help real people with real problems? And know that when they are in the front door, you will get to do all of the amazing work you love in the back door. Let me summarize where we went today. So I talked about some profitable coaching niches. Starting with business coaching. Moving on to executive and leadership coaching. Then I covered financial coaching. Career coaching. Life coaching. And relationship coaching. There are loads of other niches. This is not saying other niches aren't profitable. There's obviously health coaching, fitness coaching. Loads of things I have failed to mention here because we only have so much time but I hope what you have heard, gives you the inspiration to think about how you can help solve real problems with your coaching skills. If you want my help in doing this, this is what I do in my program. The business of coaching, because once you have your niche, you still need a really good offer and you still need to become an expert in your field and become an expert marketeer as well. That is a skill that needs to develop. It isn't just something that you should know. If you have never practiced marketing and these skills before. So do join us -you will find the link in the show notes to the business of coaching. Also, if you are listening to this episode on its release date of Thursday, the 23rd of May tomorrow, the 24th of May I'm doing a live workshop to help with many of these concepts to become an expert in your field. So you will find the link in the show notes for that. It's at 10:00 AM on Friday the 24th of May. And like I say, at the end of every episode, trust yourself, believe in yourself and be the wise Gardner who keeps on watering the seed.

Microphone (Samson Q2U Microphone):

Thank you so much for listening to this episode of Women in the Coaching Arena. I have a mess of free resources on my website joannalottcoaching.com. That's Joanna with an A and Lott with two T's. joannalottcoaching.com. And I'll also put links in the show notes. Let me know if you found this episode useful. Share it with a friend and leave me a review, and I will personally thank you for that. Remember to trust yourself, believe in yourself and be the wise Gardner who keeps on watering the seed. Get into the arena dare, greatly and try.

Leave a Reply

Your email address will not be published. Required fields are marked *