Kim Kirmmse Toth - Small Business Coach

Can Planning and Niches Really Bring Riches?

When you think about building your coaching business what first comes to mind? For many of you it’s to do something you love and make excellent money as well.

There are so many things that need to be thought out and many pieces that need to be put together that it can certainly seem a bit overwhelming. The key is being able to see the big picture, then to break it down into smaller more manageable pieces.

So, let’s begin at the beginning. You need a plan. You need to know what kind of business you want to create. Also, let me add that the order of these might be different for each of you. In the long run however, they all need to be paid attention to.

Step 1: You need a Business Checking account, business checks, business credit/debit card, tax ID number, and talk to your accountant and/or lawyer about becoming incorporated.

Step 2: Who do you want to work with? What do you want to help them with? What are you an expert at? What are your gifts?

Step 3: What kinds of programs, products or services do you want to offer your clients? There are High End Coaching Programs (group or private), Teleclasses, Workshops, Retreats, Master Mind Groups and Membership sites and many other options.

Step 4: How are you Branding yourself? The more clear your brand the easier it is to market yourself to your target audience.  Your website, blog, and ezine will all be consistent with your Brand

Step 5: Please don’t go this alone. Being an entrepreneur is a wonderful and glorious thing, but it takes work and lots of support from those who have traveled this road before you (as well as support from those you love!)

I know you are independent and self sufficient but unless you have built other successful businesses in the past, and even if you have, having a mentor or coach is invaluable.

Now, let’s go back to these 5 steps. They are each important in their own right. All of them are part of your ‘plan.’ I understand that women do business plans in a different way than men, but you still need some sort of a framework to work from. Simply jumping in blindly is a recipe for failure. The other vital step is Step 2.  This is your Niche. Your Target Audience. Your Ideal Client.

You will set yourself up for struggle if you do not have a Niche. Without a Niche you will be marketing to the world. That will be very time consuming and very expensive.  The other discouraging piece may be that you end up working with people you might not necessarily really want to work with. You want this business to be fun, not painful!

So, my words of wisdom for you, from a woman who has been down that ‘nicheless road’ is please don’t do that!  You DO need a Niche to be Rich!!!

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