How can you identify the needs of a coaching market for business coaching?

You can overthink niche thinking when you start your business coaching practice. Source a wide range of clients, then see where your skills, culture and service align. Niches can be industries you serve or skills you offer, yet client history is an interesting niche to explore. One pattern that I hadn't expected but seems obvious now is that many of my clients are business leaders who were once high-performing athletes in college, pro-sports or international-level competitions. They are looking to apply the discipline, values and measurability that made competitive sport so compelling. They are extremely driven and recognize the power of teamwork and support in achieving big goals.

This is the way to find your niche. 1. Look to your past clients (no clients? Look to your relationships). 2. Who did you love working with? 3. Who did you hate working with? 4. What are the commonalities in each? 5. Whittle down the options to a smaller group The way I help my clients do this is by looking at it from several intersections. 1. What do you do (this is your service) 2. Who do you do it for (this is your market) 3. What makes them special (what is a characteristic that will help make the niche narrower) In my example: 1. Service: Business Coaching 2. Who: Webdesigners 3. Characteristics: Introverts The beauty about being niche is that it still attracts everyone else because you are seen as someone with authority.

To understand your coaching market, start by defining your niche through a balance of introspection and market research. Reflect on your strengths and passions—what do you excel at? Then align this with market demand. For example, many coaches find success specializing in leadership transformation because they have both the skills and the passion for guiding change. Next, focus on the specific challenges your ideal clients face. Whether it's scaling for small businesses or fostering innovation for executives, knowing these nuances lets you offer tailored solutions. The key is not just to stand out, but to stand for something meaningful where your impact creates lasting value.

Market research interviews are the most reliable data source when conducting qualitative research. You want to ask specific open ended questions on topics you know you want deeper insights to. It is vital to record and transcribe the call so you can analyse the language used. This is where the greatest value in the market research lies.

By far, the most helpful way of validating your market as a business coach is to have conversations with your network. Refrain from approaching your business development like an SAAS company would. Have as much human contact as possible. Join boards, find referral networks and constantly communicate with your community while looking to add value. People hire people they like and trust – especially when finding an advisor and expert who can help expedite their business growth.

Validating your market is crucial to confirming that your coaching services meet real needs. Start by offering free or discounted sessions, webinars, or workshops to showcase your expertise. For instance, I’ve seen coaches test their niche with a simple webinar, gather feedback, and refine their approach before launching fully. You can also create a landing page or social profile where potential clients can engage with your offerings. An MVP—a streamlined version of your service—allows early adopters to experience your coaching, giving you valuable insights and building trust. By validating first, you ensure long-term growth and impact.

I kind of disagree with the term "Business Coaching" in general. The "purpose" of Coaching, for me, personally, is a way to create an impact, to leave behind a legacy that will stay for a bit longer than my natural life on this planet. When I do justice to this purpose of my life, in whatever ways, the business follows automatically! When I just focus on the business, I tend to get lost in and/or pressurized by the financial aspects of it. Once my purpose is defined clearly and well, the target segments, the niche, the USP, etc., all stand out. It has even given room to be creative and innovative and is helping me to deliver things for the 1st time in the Coaching industry!

It's crucial to distinguish the type of business coach you want to become. Some coaches focus on delivering strategies, essentially guiding clients through a blueprint to achieve business goals. Others concentrate on coaching the business owner, emphasising leadership and self-leadership skills. Some coaches combine both approaches. For this, it's essential to have plenty of experience in the strategic elements, before you mentor or teach others. Pure coaching however will not necessarily require that.