Will you still have a business in 2010?

There’s no doubt about it, we’re in a tough market right now. There’s talk that we’re starting to come of the recession, but there are still many challenges in the coaching market that will continue into 2010.

One you might not have thought of (and I hadn’t until Hannah MacNamara mentioned it on our teleinterview) is that with more people being made redundant and looking for new careers, setting up as a coach can be a very appealing option.  What does this mean for you? Well perhaps more competition for the coaching work out there for a start. But also competition that is probably very well connected, may have worked in an organisation as an internal coach for a while and would win a coaching contract over you in a second.

There are also budget cuts in organisations, but also in personal households, where, let’s face it, there never was a budget for coaching in the first place. And when people or organisations are considering spending what precious funds they have, they seek advice from others and ask their opinion before they spend. The question for you here is, can they explain to their financial director/husband exactly what they want to spend the money on?

Both of these things could mean, and I don’t mean to scaremonger, but let’s be realistic, that if you can’t address these crucial factors in the coaching market right now, you might not have a coaching business in 2010.

So, on a brighter note, what can you do over the next 3 months to make sure you’re one of the ones who ‘makes it’ and even flourishes (because there is actually plenty of work out there if you just know where to look)?

Hannah suggested these 3 key steps:

1. Be business-like. Know what you’re offering, who you’re offering it too and build a compelling and easily explained case for buying the benefits of what you offer.

2. Be market aware. Know what the market wants by doing some proper research, then make a decision and stick to it with regards to your strategy based on facts, rather than jumping on every new marketing bandwagon you see. Know where the work is and go after it.

3. Stand out from the crowd. Be decisive, work out what the authentic you is all about and build a coaching business it. You’d be suprised how many people don’t.

Want to know more of Hannah’s advice? Listen to the recording of the call here.

Hannah McNamara – what should I ask?

I’m interviewing Hannah McNamara on 10 September on the topic of ‘What hannahmcTo Do Right Now To Make Sure 2010 is the Year Your Coaching Business Takes Off’ (register for the call here) as a way to help her promote her fantastic programme How To Find Your Niche, Your USP and The Market That’s Hungry For Your Services. I’ve had so many questions from people who’ve registered, but I won’t have time for them all. 

Here are some examples, but what do you want me to grill Hannah on most – she’s a feisty lady and I’d like to give her a challenge quite frankly. Why haven’t YOU signed up yet for her programme for example? 

  • What will be the greatest challenges for the coaching industry in 2010?
  • What 3 things could I do to be best placed to meet them?
  • You’re bound to say defining your niche is one of them (yes, this is a promotional call!): why?
  • My niche is coaching women, but someone told me that’s not really a niche – is that true?
  • If I specialise in working with one particular part of the market, that’s turning away work. Why would I want to do that in the current economic climate?
  • Your course costs £497. I’m struggling financially. Tell me why on earth I should spend what little cash I have on this?
  • Can you explain a bit more about the Coaching Stars Club (you get 6 months free as one of the bonuses if you’re one of the first to sign up).  What exactly do I get?
  • There are so many people out there bombarding me with free information about growing my business, why should I pay anything at all?
  • How long will it take me to crack this ‘nicheing’ thing once and for all if I sign up?
  • Do you just help me find my niche, or does the programme provide help for how to market once I’ve done just that?
  • What guarantees do you offer with the programme?
  • Can I pay in installments?

Leave me your questions and comments below and join us for the call to see how she handles being put on the spot!

How To Build A Coaching Database

I’ve been posting a lot of Hannah McNamara’s stuff over the last week, in parthannahmc to help her promote her free teleclass: How To Raise Your Fees And Still Get More Clients, but also just because she talks a lot of common sense and I reckon you’ll get as much benefit from reading these articles as I did when I was working out how my coaching business was going to run. Enjoy this one, and don’t forget to join me on her call on Thursday.

How To Build A Coaching Database Continue Reading →

How To Choose A Coaching Niche

This is another great article by Hannah McNamara – well worth a read before hannahmcyou listen to her free audio download: How To Increase Your Fees and Still Get More Clients.

How on earth do you get started when searching for your coaching niche?

If there’s one piece of advice for coaches that seems to get bandied about more than any other, it’s the value of setting up a niche for yourself. However, the reason it’s so often repeated is simply because it’s so true. When you have a niche, then you’re effectively the only water provider in a dry desert; you can pioneer the standards for your own industry and set your own terms, in addition to enjoying the lack of direct competition. Continue Reading →

Being Non-Judgemental: The Kiss Of Death for Your Coaching Practice

hannahmcHannah McNamara is running a free teleclass next week: How To Increase Your Fees and Still Get More Clients. I’m giving her a hand to promote it as I’ve long been a big fan of Hannah’s, she gives away loads of content on her call and is a great straight talker. She is also THE queen of nicheing, so you’d be well placed to listen to what she says! Continue Reading →

Niche Marketing For Coaches

nichemarketingforcoachesEvery now and again, along comes one of those books that dramatically impacts on your coaching business, mainly by giving you aha moments and making you think ‘of course, that’s so obvious! I’ll never see things the same way again!’

For me one of those books was Hannah McNamara’s Niche Marketing for Coaches. Hannah has a great style and talks in ‘plain english’ to explain the concepts of how to find your niche, and what to do with it once you’ve got one!

I’ve blogged about her book before, but I’m doing so again today as all this week I’m helping her to promote it as she’s got some fantastic bonuses to offer if you get a copy before midnight on Sunday this week.

These include 4 months free membership to my members area here at More Than Your Time, so if you’ve been thinking about signing up with me, now’s your chance to get in for free! Plus loads more goodies too worth over £1740.

Just click here to check out Hannah’s book and all the offers. Believe me, if you haven’t got or read this book, you’re going to struggle to grow a successful coaching business.

 

 

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Hannah McNamara asks ‘Why Niche?’

Hannah McNamara

Hannah McNamara

What do you want to be when you grow up? I remember this question being asked in school and the boy next to me telling me he wanted to be a burglar. Interesting career choice when you’re 7. Makes you wonder what his family life was like. When you’re that age and people start asking you what you want to be, you don’t really have any idea what the possibilities are. I looked around, remembered that the house opposite was having building work done and said I want to do that – to be a bricklayer, I meant. You could think “Go Girl!” and say that in this day and age (it was 1980) girls could grow up to be whatever they wanted to be or you could ponder on whether that was really the right career choice for a little girl who was the smallest in her class.

Then I found mud. More precisely I started digging and found things buried in the garden. Nothing valuable – an old tin can, a wrapper from a cake and some twisted wire, but it was exciting to uncover things that I didn’t know were there. As soon as we covered ancient Rome in school I was hooked. I wanted to be an archaeologist and when I watched Indiana Jones for the first time I was even more convinced! This continued for a number of years – I even studied Latin – until my dear grandfather told me there was no money in it. Back to the drawing board.

Faced with the uncertainty of having to choose who I was going to be (which I thought meant for the rest of my life) I consulted the careers advice service in school. They did a personality profile. Apparently I was perfectly suited to either being a gardener or a prison warden. How they came to that conclusion is a mystery, but suffice it to say that wasn’t much help. So for a few years I meandered around and at the age of 16 decided to choose Business Studies at A’Level. Bingo! Over the course of the next few years I went to University to study business, worked in Marketing and learned as much as I could about not only how business worked, but also what made people tick. It fascinated me that there were subconscious decisions going on all the time and I was intrigued to know the answers to questions like, “What makes someone choose that brand of shampoo over another?” and “What impact would a price change have on customer perceptions?”

I came to realise that much of what happens in the world today is connected to how you see yourself. We know that people have various filters which influence perceptions. It impacts on the paths we choose for ourselves and it impacts on whether people decide to choose one coach over another.

Lots of people talk about choosing a niche and it’s seen as something that’s quite straight-forward – something like, “Well, once you’ve chosen your niche, you create products for that niche and target the media catering for that niche”. Yes, this is all true. But too often we get completely stuck at the point of choosing a niche because we think we’re being asked that “What do you want to be when you grow up?” question without knowing all the facts.

Just as when you’re 7 you simply don’t have enough information upon which to make an informed decision, when you begin your journey as a coach you may feel pressured to choose a niche – to decide who you are going to be.

As the author of a book on Niche Marketing, you might expect me to wax lyrical about the reasons you should choose a niche and how you’re somehow naughty or not a real coach if you haven’t decided on one yet. In fact, I’m going to encourage you not to stress yourself out over it.

If right now you want to be a bricklayer (to use the example above) then focus on being a bricklayer. If you’re working as an independent coach, you have the freedom to change course as appropriate if it doesn’t work out. You can reinvent yourself according to what the market tells you they want.

You do need to trust your instincts. Don’t worry too much about trying to ‘be coach-like’ or being ‘non-judgmental’ when you’re making decisions about what kind of coach you want to be. You need to use your judgment and you need to be yourself. If you try to shoe-horn yourself into being a particular kind of coach because everyone else seems to be like that you are not being true to yourself and your coaching practice may suffer. Equally, don’t knock yourself out trying to be unique or choose too tight a niche – I only coach one-legged accountant called Marjorie. Being a business coach specialising in leadership, for example, is often enough to get you going.

I’m going to make a confession. I’m not a nice person all the time. I get annoyed with things. I’m a stickler for professionalism and when people behave in an unprofessional way it winds me up. I don’t like B.S. I like business suits and don’t wear tie-dye (a personal choice). Sometimes I utter a naughty word – usually a four-letter one when I’m in the office and I can’t find something. Sometimes I make snap judgments about people I meet (and the more I’ve learned about people through being a coach, the more I learned to trust my instincts). Does that make me a bad coach? Well, let me tell you this. When I gave up on trying to be what other people wanted me to be, my coaching practice got a whole lot busier. I sometimes utter a naughty word in coaching sessions for emphasis or to break the ice. My clients seem to like it. This might not work for everyone, but it works for me.

When I tried to get clients as a life coach it didn’t work. I used to hear comments like, “You don’t look like a life coach” and “You’re different from other coaches I’ve met”. I came out of the closet, so to speak. I’m loud and proud – I love business! I love the buzz of it. I love making money – it’s the tangible proof that I do a good job. I love helping business people to sort out their issues with their staff (and themselves). I love showing people how to manage their time better and be more efficient and effective at work. I love brainstorming ideas and seeking out new opportunities. I love being the person who challenges them to think outside the box – and rein them in when they go off at a tangent. I especially love small businesses because the people you work with can implement their ideas almost immediately without putting a proposal in, waiting for the quarterly meeting, running the gauntlet of office politics and then, maybe, just maybe being given the go ahead to make a simple change which has a huge impact.

I’m a business coach. What about you?

Hannah is the founder of www.marketinghelpforcoaches.com and the author of Niche Marketing for Coaches.

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