Once upon a time, over at Facebook, I came across a rant — from a life coach, trainer, facilitator, leadership consultant, Enabler (ever seen an overcrowded resume?).
The poor guy had lost the plot and was going deep. He said, “Today, we have more speakers/coaches than the audience. The supplies have somehow overshadowed demand.”
That day I realized two things:
- Building your opinion on social media is dangerous.
- Many of these “coaches” are uncoachable.
It’s a shame. But that’s also a blessing in disguise.
In this post, I’m going to solve the oversupply problem. And tell you what to avoid while selecting your coaching niche.
Why oversupply is actually a good thing.
Here’s why you have an advantage.
First, most uncoachable coaches are too slow to adapt. In – Why 96% of coaching businesses fail – we found this to be a major reason for failure.
Let’s deal with the false economics first.
Do we really have an oversupply problem?
The criteria for that guy was how many Facebook posts he was seeing in his feed.
But ever had that feeling where you watch something once and then you start seeing that-kind-of-thing over and over again?
It’s NOT oversupply. It’s AI — Artificial Intelligence.
It’s just AI pushing things you’ve interacted with.
And the poor guy misinterpreted. He thought that the mines have been overmined. There’s no more gold. The industry is overcrowded.
Over at LinkedIn, we’ve 6 million coaches – out of 610 million professionals. That’s not even 1%.
Plus, there’s no number 1 brand of coaching.
Why? Why shouldn’t you feel good about it?
Hard-working pioneers are going out and spreading the word
ABOUT YOUR INDUSTRY.
Sometimes I feel my ideas are stolen – without any credit. Actually, that’s what happens with pioneers. They take the arrows.
A classic example: many people suffer from chronic pain yet never go to a Chiropractor. Why? Because it just never occurs to them.
They try it once. Love it. And refer their friends.
And this leads to one conclusion.
While selecting your coaching niche – avoid being a pioneer.
But if you find “pioneers” doing well – that’s a positive sign. Can you ignore it?
Be first in their minds – not the industry. That’s exactly “The Law Of The Mind” – stated by authors Al Ries and Jack Trout in The 22 Immutable Laws Of Marketing.
Plus, avoid coming from a place of scarcity. It shows. You’ll never be able to reach 610 million professionals over at LinkedIn.
But if someone did then it pays to learn to stand out and package your coaching.