Profitable Life Coach Niche Ideas in 2020

profitable niches

Wondering which coaching niche to choose?

Worried there are some life coach niches that are more profitable than others?

Desperately googling “life coaching niches”  or “types of life coaches” so you find something, *anything* that allows you to coach full-time?

I’ve got great news for you!

Instead of giving you a list of the top 10 niches for life coaches in 2020…

…I’m going to say something bold that should take your all stress away.

You don’t need a fancy-pants coaching niche finder to figure it all because (drumroll)…

ALL VALIDATED LIFE COACH NICHES ARE PROFITABLE.

What???

Yes.

Yes!

Here’s the first important thing

Now, the key point is the word “validated.”

Validated means you’ve done the market research to determine that the niche you have chosen, no matter how esoteric, has a market that is willing to buy.

Sober coach?

Anxiety coach?

Women’s empowerment coach?

Parental coach to help parents manage screen time with their kids?

Career coach for overwhelmed women who just want to be able to leave work before midnight?

It doesn’t matter.

All you have to do is roll up your sleeves and do the work!

Here’s how to roll up your sleeves and do the market research work to find your profitable niche

First off, start by imagining who exactly you want to help.

Draw a picture of them to focus your thoughts (seriously, this helps you get super clear). What hair color do they have? How old are they? What do they dream about?

Next up, think about what they complain about to their friends at happy hour, or over coffee. What specifically do they wish they could change in their lives? Think about the actual words they might use.

Then keep digging in your imagination: What do they want to be different in a year? Two years? Why is this important to them?

Got it?

Awesome.

Now ask yourself this: “What do I want to help these people achieve, based on what I know they want to change?”

There’s probably a few things you could help them with, but laser in on the one thing that gets you excited.

Are we good?

Excellent!

Next up, find these people!

Ask your network for help by using real conversations or emails, that make clear you are not selling anything as this can be off-putting: “Hey Friend, I doing research on a coaching niche and I’m hoping to talk to young women who are struggling to get promoted and want more out of their jobs. Do you know of anyone who fits that description? I’m just looking to do a quick interview to learn more from them…”

Once you identify some of these people, ideally at least 3 so you have a reasonable data set, then make a date and chat with them! Ask them why they are struggling to reach their goal, what makes them excited about said goal, if they’ve ever gotten help or worked with a coach before, and if they would ever consider paying for help to get there.

If they have sought help or are willing to pay for help. EXCELLENT. That’s a great sign.

Then validate further! Join some social media groups, Reddit threads, and other places where these people hang out, and listen to them. You can find these groups by going to the social media platform in question and searching for them. Go to Facebook and type in “over-40 online dating” in the search bar, for example.

The join the related group and watch what they post about.

Read the conversations happening. Are people asking for help with the thing you want to help them with? How are they talking about their problems? What trends are you seeing?

If you are allowed by the group rules, post your ask for research help and then jump on the phone or on skype or zoom to connect for 20 minutes and dig deeper.

Nothing replaces real person interaction in terms of niche validation! You’ve got this!

Finally, hop on google and LinkedIn and Pinterest and enter in the type of people you like to help, or the type of niche you are now in, and see if there’s any competition.

For example, on LinkedIn you might type in “resume coach” in the search bar, if you are thinking about niching down just to resumes.

finding a profitable niche

 

Or we could wander over to Pinterest. If you are thinking about helping women of a certain age get healthier, you might try the following:

finding a niche

If there is competition, awesome! That means you’ve most likely got a market :). Dive inteo seeing what your competitors are up to and then continue on!

If you have no competitors, and no one you talk to is interested in getting help or in paying for help, go back to the beginning of this post and start again.  You’ll find a great niche, just keep validating.

Here’s the second important thing

Being a coach-entrepreneur is hard.

Anyone who tells you it isn’t is flat-out lying and you should take your chocolate and run, not walk, immediately away.

So, when you choose a niche make sure you are choosing a validated niche that you like.

Not because you think you should do it.

Or because someone told you it was a good niche, or a profitable niche.

Or because you have a limiting belief that your niche is too specific (I have a student who helps people who work on yachts find … better careers… on yachts. Can you get more specific than that? Yet, she’s sold out her big program three times already and is hiring help. YES).

BARB testimonial

So, choose a validated niche that lights you up.

Even if it scares you a little bit, that’s okay!

It also needs to make you excited, and give you a jolt of energy.

You’ll need that energy to help carry you forwards through some of the normal ups and downs as you build your business.

Choosing a niche for a random reason usually = failure, so do the hard work of validating the niche that you want, then DO THAT.

Want more business help? But the kind that is MORE in-depth (and also free)?

Come to our awesome on-demand class on how to market your coaching business so you get paying clients!

Go here to see it. Whohooo!

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