Just like starting any small business, identifying your target market is one of the key elements of developing a successful life or business coaching practice, as well as how to get coaching clients. During this process, it is essential that you take the time to discover the type of target market that is a solid match for your individual coaching style and background. All too many new coaches make the mistake of either taking on every potential client that walks through the door or going after a market that is simply a bad match in search of higher profits.
In Book Yourself Solid, business coach and author Michael Port asserts that nearly all of the clients that he works with would be better off if they simply dropped about 25% of their clients. While this bold advice sounds counter-intuitive on the surface, the fact of the matter is that many small business owners spend far too much time trying to appease their most difficult clients when they could be using their energy to attend the things that matter most and build their business. By taking the time to identify one or more niche target markets for your coaching practice, you can avoid this dilemma right from the start and spend your time working with the clients that you were born to serve.
You need only look inward and meditate on what values and principles are most important to you in order to discover which niche target markets are right for you. Coaches with a lifelong knack for developing business strategies, managing others and boosting profits will probably find that niche markets within the business and executive coaching industries are best suited for them. Individuals who are less money motivated and more centered on issues such as family, relationships, spirituality and personal growth will discover that there are a whole host of niche coaching markets available to them within the life coaching industry.
To find out more about some of the more popular coaching niches, take a moment to read 75 Life and Career Coaching Niches.