63 | 6 Lucrative Coaching Niches: Finding Your Profitable Niche

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Hello and welcome to Women in

the Coaching Arena podcast.

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I'm so glad you are here.

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I'm Jo Lott, a business mentor

and ICF accredited coach

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Microphone (Samson Q2U Microphone):

and I help coaches to

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build brilliant businesses.

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I know that when you prepare to enter

the arena, there is fear, self doubt,

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comparison, anxiety, uncertainty.

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You can tend to armor up and

protect yourself from vulnerability.

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In this podcast, I'll be sharing

honest, not hype, practical and

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emotional tools to support you to make

the difference that you are here for.

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Dare greatly.

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You belong in this arena.

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Hello, welcome to the 63rd episode

of women in the coaching arena.

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I am so glad you are here.

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I am about to leave, to go to Sussex

for a yoga retreat for two nights.

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So I cannot wait.

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The sun is shining and it's

right next to the beach.

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And I'm so, so excited.

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But I wanted to squeeze in this episode

before I left, because I have just had

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a message from uh lovely coach who has

been trying to market her business.

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And what I noticed when I looked at her

page was that she's selling balance.

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And whilst that's all we want and

that's why I'm going on my yoga retreat.

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And that's what most of

us are seeking in life.

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It sadly, doesn't cut through

enough to actually pay for.

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So in this episode, I will focused on

the most lucrative coaching niches.

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Because sadly, no one pays for coaching.

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And I remember when I first trained as

a coach and heard this, I thought, what

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rubbish, what are you talking about?

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And now I get it because we just don't

prioritize things unless there is an

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urgent must have need in our life.

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So it's a really tricky thing and I

encourage you to always analyze exactly

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why you are paying for something.

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So let's talk about types of

coaching niches and how to

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make them even more profitable.

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So let's start with the business coaching

niche, because this is the one that I

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know most people think is the only one

you can actually make money from doing.

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But actually what I've discovered since

doing this niche myself is that actually

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lots of people also fail in this niche.

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And like, you may be thinking oh,

you know, the only people making

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any money is the business coaches.

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And I used to think the same, but

even if you are going to do business

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coaching, you need to get more specific.

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So if we think about different ways of

getting more specific in this niche,

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firstly, would be to get more clients.

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And I have a client I'm working with

at the moment who said she didn't

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want to mention the client word.

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And I said, I also don't want to

mention the client word, but I have

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done polls and all sorts of things.

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When I say, what do you ultimately want?

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And people just say clients.

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Well, this person wants it to do

is talk about growing your business

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and those more generic terms.

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But we also need to add the, so that,

you know, so grow your business so

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that you get clients and get to make

the impact and income that you want.

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So even in what may seem to be

profitable niches, you still

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need to be super specific.

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What exactly does that mean?

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Is that.

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Tech companies get clients, is

that coaches get clients, is

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that counselors get clients.

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Like who exactly are you going

to specialize in helping.

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Another one in the business,

coaching niche is sales.

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So you can be a specific sales

coach to help people to really

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nail those conversations.

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You can also get hired by companies to

help them to train their salespeople.

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I had someone that was previously

in my business of coaching program.

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So this particular coach that I

was working with really, really

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struggled with the lack of team and

social events and that type of thing.

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What I noticed was she was

an amazing sales person.

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And I was like, how have you never thought

to combine your sales skills with training

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teams so you get that buzz of being with

a team and using your coaching skills

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with others who need that sales skill.

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Because I do think often what we do

as a coach is try and immediately

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forget everything we ever did in our

lives and where I have seen people

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have the most success is by utilizing

all of their previous experience and

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bringing that into that business.

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So there are lots of different

angles you can go with this business

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coaching niche, but I do not want to

spend too much time because I want to

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cover lots of other niches as well.

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So let's talk about the executive

leadership coaching niches now.

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So I have had lots of clients

successful with helping people

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build leadership skills.

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Kate waterfall hill managed to

cut through the noise with really

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resonating posts about bad management.

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And that is how she now helps leaders

become better leaders because they

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may see themselves or see someone

they know in those posts and think.

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Yeah.

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You know, you've really got it.

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You understand where I'm at?

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Another person that has done

really well is Louise Thompson.

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She initially was focusing on

helping comms leaders develop

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their leadership skills.

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She is still doing that.

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Then she's also now using Tik-Tok, which

helps you to be a little bit more generic.

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Because Tech-Talk will promote

your content to those who

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are interested in leadership.

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So you don't have to be quite as

niche if you're using TikTok as you

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do on some of the other platforms.

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So Louise has done super, super well

resonating with her ideal client because

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she was a previous comms director.

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So again, how can you use your experience?

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To really resonate with your ideal

client, knowing that most ideal clients

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want to work with someone who has

achieved and been through the same

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thing that they want to go through.

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And as coaches, we know that that isn't

required, but as someone purchasing

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coaching, a lot of the time, that

is something that people look for.

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Let's talk now about financial coaching.

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I have another client who I am desperate

to help move into this type of coaching.

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She has been a finance director for years.

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And is really resisting niching

down, despite the fact she absolutely

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loves this niche, but she is

fortunately going on my yoga retreat.

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So I'm looking forward to

discussing that when we are there.

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Because it's such a great

niche in so many ways.

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So you can obviously niche into something

like the money mindset which denise

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Duffield-Thomas does really well.

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But you can also niche into helping

business owners with their finances.

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If that's something that

you are happy to do.

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And balance that with the emotional

side as well, because a lot of the

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time, it's not just about the numbers.

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People will avoid looking at

the numbers because of the fears

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and all of those other things.

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So it's such a great niche.

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If you are happy to really dive into

that, understand the numbers, but also

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understand the emotional side of things.

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Let's move on to career coaching niches.

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I have had lots of clients successful in

this niche and I previously used to be a

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career coach so I know this niche well.

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What lots of my clients have been

successful doing is figuring out what

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they want to do next in their career.

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So that kind of career transition phase.

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I've had a wonderful client, Natasha

gain lots of clients in this niche to

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help them figure out their next move.

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There are also ways of going

really specific in this niche.

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And lots of my clients have done this

by choosing a specific industry that you

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want to help people change career with.

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Also in the career coaching niche,

you can have gain a promotion.

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Or get a better paying job.

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That is something that most

people want because we are all

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obsessed by climbing the ladder.

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So that is another angle you

can use in career coaching.

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Let's talk about life coaching

now, because this is what I find

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the trickiest niche to sell.

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Because despite the fact we all need

every angle in our life sorting out.

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Most of the time we get one urgent

problem that makes us purchase

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something or look into doing something.

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So maybe you are having difficulties

in your marriage or relationship, and

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that's the kind of crux that makes

you think I need to do something.

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But then at that point, You are

looking for someone to help you

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with that particular problem

rather than general life coaching.

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The same with someone

helping you with your kids.

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Like there will be a crux point that

helps you to think you know, my kids

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are leaving home and now I'm feeling

really lost and I need to figure out

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what I'm going to do with my life.

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So that is a way, if you do want to

do more general life coaching, you can

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think about a specific time in people's

lives that they will seek out support.

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I guess what could also fall into the life

coaching niche is overcoming an addiction.

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One of my clients, Chloe

helps people to stop drinking.

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so helping people with a

specific problem in their life.

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I think the more general one, like

I talked about at the beginning of

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cultivating balance is really tricky.

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If you really do want to go into this, I

would advise, picking that type of person,

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like entrepreneurs who need balance and

need to connect back to their vision,

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why they doing this, that type of thing.

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So anything you can do to gain

an extra edge especially in

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this general life coaching niche

will really, really help you.

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Okay.

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The final one I will cover

is relationship coaching.

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And this reminds me to tell

you that people pay for health,

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wealth, and relationships.

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So think about how you can hook your

particular niche into those buckets,

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health, wealth, or relationships.

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Generally wealth, and any return on

investment you can, who can too is

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way easier to prioritize, but then

there are also people that will

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pay for health and relationships.

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So in this relationship, coaching niche,

you may want to help people improve their

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relationships with their partners, maybe

with their children be a better parent.

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Maybe it is a dating coach

to attract a great partner

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and what's holding them back.

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I'm hoping you are noticing the theme

through reflecting on this podcast.

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That people pay for specific problems

to be sorted out in their life.

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And that's a really tricky mindset

shift for a coach when we learn,

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we can help everyone with anything.

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And we are so desperate to do

this and use our amazing skills.

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But I think if you are struggling

with this, please just think how

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much of a difference will you be

able to make when you can actually

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help real people with real problems?

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And know that when they are in the front

door, you will get to do all of the

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amazing work you love in the back door.

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Let me summarize where we went today.

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So I talked about some

profitable coaching niches.

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Starting with business coaching.

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Moving on to executive

and leadership coaching.

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Then I covered financial coaching.

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Career coaching.

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Life coaching.

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And relationship coaching.

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There are loads of other niches.

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This is not saying other

niches aren't profitable.

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There's obviously health

coaching, fitness coaching.

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Loads of things I have failed to

mention here because we only have so

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much time but I hope what you have

heard, gives you the inspiration to

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think about how you can help solve real

problems with your coaching skills.

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If you want my help in doing this,

this is what I do in my program.

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The business of coaching, because once

you have your niche, you still need a

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really good offer and you still need

to become an expert in your field and

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become an expert marketeer as well.

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That is a skill that needs to develop.

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It isn't just something

that you should know.

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If you have never practiced

marketing and these skills before.

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So do join us -you will find

the link in the show notes

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to the business of coaching.

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Also, if you are listening to this

episode on its release date of Thursday,

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the 23rd of May tomorrow, the 24th

of May I'm doing a live workshop

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to help with many of these concepts

to become an expert in your field.

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So you will find the link

in the show notes for that.

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It's at 10:00 AM on

Friday the 24th of May.

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And like I say, at the end of every

episode, trust yourself, believe

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in yourself and be the wise Gardner

who keeps on watering the seed.

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Microphone (Samson Q2U Microphone):

Thank you so much for listening to this

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episode of Women in the Coaching Arena.

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I have a mess of free resources on

my website joannalottcoaching.com.

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That's Joanna with an A

and Lott with two T's.

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joannalottcoaching.com.

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And I'll also put links in the show notes.

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Let me know if you found

this episode useful.

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Share it with a friend and

leave me a review, and I will

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personally thank you for that.

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Remember to trust yourself, believe

in yourself and be the wise Gardner

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who keeps on watering the seed.

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Get into the arena dare, greatly and try.

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