How to find a market niche?

In the wide field of Coaching and its dissimilar searches, we must constantly face the market as a great means of bringing together interests, either for a business or for the client. The client projects a need and we, the companies, have the challenge of satisfying that need and establishing that never-ending link between the demand and the solution. Now the question arises, is our solution for all demands? Well clearly no, we need to focus on a specific type of demand or what we would say, a market niche. How do we find our market niche? Surely we will think that the most demanded niche is the one we are going to cover, because in one way or another we are doing business and everyone wants to reach as many customers as possible. It is not essential to reach the largest number of people, but to target those who really need our knowledge.

What is a niche market?

The market niche is that area where you are going to develop as a Coach, many times it does not have to be the most demanded area, but one in which you can contribute the maximum to have a successful and efficient work. The niche market will always give us something back, it is a field where in addition to wanting to contribute we will be open to learn and enrich ourselves with knowledge. The market niche is a specific area of population that in many cases will determine the type of solution we use to solve their needs. Some Coaches have the capacity and preparation to cover several market niches, but it is usually good to choose only one where to develop our work; so do not feel limited.

How do we identify our niche market?

First of all, to identify our market niche we must feel empathy for the environment, we focus on a sector that we identify ourselves within. We choose a population sector where we can apply and develop our values. It is important that this medium allows you to put into practice your skills and what you are passionate about doing. Identifying our market niche is of great importance for our business because if we make the wrong choice we will not perform with the same impetus and we will lose organizational time. Knowing how to identify it is to have foresight, it must make you feel inspired by what you like to do, it must be an individual interest.

Our purposes.

An important element to concretize the decision of a niche market is to go back to the question of our purposes. What do we want to achieve in life? Why do we want to start a coaching business? How do we visualize ourselves in ten or twenty years? What is our need as entrepreneurs? What is the concept of our business? Our purpose answers all these questions and these answers help us to correctly identify our market niche. Once our needs have been identified, we analyze where they are most efficiently met, i.e. in which sector of the population.

Our strengths.

Knowing how to identify our strengths as a Coach will help us to find where we can do a better job with our clients. Our abilities and skills to resolve a certain conflict, especially with clients, are closely linked to our strengths. If we find ourselves in an unknown field of action where there is a demand outside of our knowledge or skills as a coach, it will be difficult for us to provide the right help. These strengths, which we also develop with time and experience, make it easier for us to provide efficient solutions to the needs of our clients in a given market niche according to our competencies.

Market research.

Logically, to identify our market niche we need to make a correct study of it. We must know who our potential customers may be, what is their purchasing level? An important issue of the mark