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.

I’m interviewing Hannah McNamara on 10 September on the topic of ‘What To 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!