To highlight the importance of knowing your prospective client, you can imagine the success you’d have if your target market was adolescent youths from broken families and you promoted your $1,500 monthly coaching service in the Financial Review!

Whilst this example is obviously ridiculous and extreme, clients can be a fickle bunch and it’s crucial that your services are tightly aligned with your prospects profile and needs.

Most novice coaches come from the mindset “I’m going to coach XYZ group”. But they give little thought to the specific challenges, needs, desires and nuisances of their target group (niche). And without this information they’re almost doomed to failure.

They first develop how they’re going to coach, and then try to impose that service onto their target client. This approach does not work!

You must be client driven rather than product driven. You should first identify the specific client group you want to work with and then develop services and products that satisfy and fulfil their unique and specific needs.

What’s the best way to determine the needs of your target client?

Ask them! Interview them; survey them; take them to lunch and pick their brains; hold tele-sessions; talk to industry professionals already dealing with them; go to industry events; read their journals.

Asking the hard questions up front is so important to the long term success of your coaching business and your market niche (more on developing that niche soon).

Remember that it’s not enough for you to perceive that someone NEEDS what you have to offer. They have to WANT what you have to offer and be motivated to buy it.

The benefit you purvey with your offer must VASTLY exceed in value your clients’ perceived risk of investing in it.

Focus your attention on client groups who are already looking for the solution you provide and are willing to invest in the solution. Here is a 7-Step Process to develop products and services that are in high demand by your target clients:

  1. First determine the top 3 most serious and annoying challenges that your target group want to solve.
  2. Determine how regularly they face these problems and the financial and emotional cost to them having these problems recur.
  3. Develop solutions to solve these top 3 challenges/problems.
  4. Package your solutions as service and product based offerings.
  5. Price point your services based on the financial costs your clients incur by not having the problem solved.
  6. Establish yourself as a specialist who can help them solve the challenges/problems they have.
  7. Demonstrate to them through quantifiable proof how you have solved their problems with like groups.

If you take this approach, not only will your services be aligned to your client, your clients will actively seek you out to have their costly recurring problems resolved!