As you prepare to begin your business coaching career, it is important that you familiarize yourself with all of its aspects. Within business coaching, there are several niches that your clients may be a part of and that you can choose to specialize in. Whatever niche or niches that you choose to specialize in-or even if you choose to not specialize in any one niche-you will need to know about all niches that are involved in business coaching.
The niches discussed in this article are options that you may choose from, and you are not required to choose any of them. You may find, over the course of your coaching career, that there are more niches than those listed here. It is also possible that the niche that you originally begin your coaching career with is not what you remain with as you grow. 1
The corporate niche applies to clientele with large, multi-operational business. They can be of any size, with any kind of need for your service. This can cover international, national, and local businesses with multiple locations and departments within their business structure. The coaching used in this niche is more motivational-leaning than anything else. 2 It can also be broken down further into additional niches, so it may provide a wider audience base for you to work with should you choose to offer coaching for the corporate niche. You do have the option of focusing on one of those additional niches, but you do not necessarily need to.
Executive, or leadership, niche coaching is often for the higher-ups in a business. This can include owner-proprietors, CEOs, managers, and department heads. It involves heavy one-on-one coaching, and makes up a large portion of business coaching sessions. Some clients in executive positions will develop a long term relationship with their business coach. This may simply mean they will be a repeat customer or they can possible keep the coach on retainer as an employee of their business or company.
For those in the small business niche, you may be faced with some additional challenges. Small businesses often do not reach out to business coaches due to a number of issues. However, that does not mean that the small business coaching niche is going to be reduced in size or nonexistent. The amount of small businesses has been increasing and there are numerous types of small businesses out there, so the niche can be as varied and diverse as any other you may involve your coaching with.
Some business coaches choose to work within a specific career or profession. Doing so will narrow your focus and your audience much further than any other niche, depending on the career or profession in question. With a career-specific niche, you may find your audience expanding to include educational and training programs for those careers. Some program hosts, like universities, will sometimes bring in a business coach to speak with students as part of the program. In those cases, your approach to the session will be dependent on what is involved in the program and what the program host wants of you.
Like the corporate niche, the industry-specific niche for business coaching is an umbrella that covers more similar, smaller niches. It is entirely your decision if you want to specialize your coaching for certain industries, or even branches of certain industries. Depending on the industry that you focus on, you may actually find yourself with a rather large audience rather than a narrowed one.
Like with the career-specific coaching niche, you may find your services being requested for programs related to the industry you are focusing on. Many industries have conferences and conventions associated with it and will look for speakers and presenters to talk with attendees. Business coaches who are familiar with the industry are often a popular option that organizers choose.
Do You Need to Have a Niche?
Choosing to attach yourself to a certain niche with your business coaching is not a requirement for your career. For some business coaches, choosing to not focus on any one niche is an option. It is recommended by some experts that successful business coaching requires you to employ the idea of being a jack-of-all-trades with your coaching. 4 It allows you to cast a wide net for your audience, and even gives you access to clients who may fall into multiple niches. Even if you do choose to narrow your focus when you first begin your business coaching career, your clients may refer you to those outside of your focus, thereby providing you with an opportunity to expand it.
When you first begin your business coaching career, you may decide to follow certain niches over others. Over time and as you grow professionally, you may consider expanding your options. You may also find that your business coaching goes outside the box in terms of what niches you cater to. As you will be bringing in your own experiences and knowledge into your coaching career, you may find it beneficial to create your own niche with that information as a base. 5 This may be an attractive option for some, as it allows you to create a stronger bond with your clients by relating to them while also letting you put a personal touch on your work.
- Business Coaching Organization Memberships
- Dealing with Human Resources in a Business Coaching Service
- Basics of a Career as a Business Coach
- Required Experience and Education Development in Business Coaching
- Setting Up a Business Coaching Service: Marketing Tools and Strategies
- The Importance of Understanding Accounting
- Creating a Unique and Personal Brand
- Common Problems in Procurement Management
- Accounting Concepts: Understanding Working Capital, Cash Flow, and Assets
- Awareness and Implementation of Cultural Aspects of Communication
- Credit Checks for Businesses
- The Role of Nonverbal Communication in Effective Communication
- The Balance Sheet, Debits and Credits, and Double-Entry Accounting: Practice Problems
- Financial Ratios Calculations
- Analyzing Financial Data with Ratios in Accounting