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How can you make more money from your niche?

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If you are a personal coach, you probably have a niche or a specialization that you focus on. Maybe you help people with their careers, relationships, health, or personal growth. But how can you make more money from your niche without working more hours or lowering your rates? In this article, we will share some tips and strategies to help you increase your income and impact as a coach in your niche.

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Khyati Bhatt

Founder @ Simply Body Talk, CueKids | Body Language Consultant to CXOs, corporates, media, research agencies l…
Christina Melville

Empowering service-based solopreneurs to effortlessly hit revenue targets and attract clients in their sleep with a…

1 Identify your ideal client

The first step to make more money from your niche is to identify your ideal client. Who are the people who need your coaching the most, who value your expertise, who are willing to pay your fees, and who are easy to work with? By narrowing down your target market, you can craft a more compelling message, offer more relevant solutions, and attract more referrals. You can also avoid wasting time and energy on clients who are not a good fit for your niche or your style.

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Khyati Bhatt

Founder @ Simply Body Talk, CueKids | Body Language Consultant to CXOs, corporates, media, research agencies l Executive & Leadership Coach l Tedx Speaker
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Sticking to your core strength or your unique approach in every content piece, advertising, discovery pitch or social media that goes out is crucial. If your audience gets confused about your services, they will just weigh your fees and hours against any other coach's without focusing on the value you bring on the table.

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2 Create multiple streams of income

The second step to make more money from your niche is to create multiple streams of income. Coaching is not the only way you can serve your clients and share your knowledge. You can also create and sell products, programs, courses, books, podcasts, or memberships that complement your coaching. These passive or semi-passive income sources can help you reach more people, diversify your revenue, and leverage your time and expertise. You can also upsell or cross-sell these products to your existing or potential clients.

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Christina Melville

Empowering service-based solopreneurs to effortlessly hit revenue targets and attract clients in their sleep with a signature offer | Business Mentor | CEO Mindset Coach | Rapid Transformational Therapy Practitioner
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Market research for the win! If you're not talking to your audience about their struggles and what they need from you, you're guessing that everything you create will actually make you money. Use your social media channels to ask questions, get on Zooms with people to do more in-depth research (which will give you gold for your marketing if you ask the right questions) and ask people when you meet them what's working and not working for them. Don't forget to research your competition - what are they selling, where are they hanging out to connect with their audience, what price points are they hitting with their services.

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3 Raise your rates

The third step to make more money from your niche is to raise your rates. Many coaches undervalue their services and charge too little for the value they provide. This can hurt your credibility, your confidence, and your income. By raising your rates, you can position yourself as a premium coach, attract more serious and committed clients, and increase your profit margin. You can also offer different packages or tiers of coaching that suit different budgets and needs.

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4 Build your authority

The fourth step to make more money from your niche is to build your authority. As a coach, you want to be seen as an expert, a leader, and a trusted advisor in your niche. This can help you stand out from the competition, attract more clients, and charge higher fees. You can build your authority by creating valuable content, sharing your stories and testimonials, speaking at events, collaborating with other influencers, and getting featured in the media.

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5 Expand your network

The fifth step to make more money from your niche is to expand your network. Networking is one of the most effective ways to grow your coaching business and generate more referrals, leads, and opportunities. You can expand your network by joining online communities, attending events, reaching out to potential partners, and asking for introductions. You can also nurture your existing relationships by staying in touch, providing value, and asking for feedback.

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6 Invest in yourself

The sixth and final step to make more money from your niche is to invest in yourself. As a coach, you are your most valuable asset. You need to constantly learn, grow, and improve your skills, knowledge, and mindset. You can invest in yourself by taking courses, hiring a mentor, reading books, listening to podcasts, or joining a mastermind. You can also invest in your health, well-being, and happiness by taking care of yourself, setting boundaries, and celebrating your wins.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Valencia M.

Success Mentor. Gallup-Certified Strengths Coach.
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One way I have been able to identify my niche is by getting a better understanding of my most lucrative client scenario. Once the ideal situation became real, I studied what led me to get to partner with a person or organization on an on-going basis. My goal then became to secure more business on purpose with the kinds of clients that created win-wins: an excellent experience which creates opportunities for future PR as well as referrals ;)

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How can you make more money from your niche?

1

2

3

4

5

6

7

1 Identify your ideal client

2 Create multiple streams of income

3 Raise your rates

4 Build your authority

5 Expand your network

6 Invest in yourself

7 Here’s what else to consider

Personal Coaching

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How can you make more money from your niche?

1

2

3

4

5

6

7

1 Identify your ideal client

2 Create multiple streams of income

3 Raise your rates

4 Build your authority

5 Expand your network

6 Invest in yourself

7 Here’s what else to consider

Personal Coaching

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