June 03, 2021

How To Have More Than One Target Market #107

45 minutes

Today on the show the focus is how to expand your online coaching business into other target markets.

The Episode: How To Have More Than One Target Market

One of our main messages for students is to identify and focus on a single target market or defined client avatar. But this does not mean that you can never branch out and serve other markets and a broader range of people. This episode is all about how and when you can do this and is also a reiteration of keeping things simple in the beginning. Ultimately you want your online coaching business to grow and change according to your needs and skills, so listening to feedback and staying authentically yourself should be the guiding principles of whatever choices you make.

In This Episode

Expanding a target market after the initial phase [0:21:34]
Tricky transitions into new areas [0:24:43]
Allowing space for organic growth and reinvention [0:29:12]
Making appropriate shifts that suit you and your lifestyle [0:30:53]
Sharing the unique and quirky parts of yourself [0:34:42]

“When you are starting, you need a competitive advantage, you need something that is going to give people a reason to take a shot on you.” — Jonathan Goodman

The First Steps

As we often say, keep it simple when you are starting out, and this means focusing on one target market! Once you have an established customer base in a market, you can begin to consider expanding it, or approaching other demographics. This is not a necessity, and it is completely acceptable to stay in your lane and never leave, it is up to you! What you definitely do not want to do is mess things up by trying to juggle more than you can handle.

The Problem with Branching Out

It can be a real challenge to transition from an in-person practice to something strictly online, and this is mostly because becoming accustomed to one way of doing things can make it hard to recognize its flaws and abandon it. The reality is that in-person training is just not a good business model anymore and does not serve any of the people involved as well as it should. You can train whoever you want to but try and free yourself from the limitations of your past experiences.

Staying Flexible and Open-Minded

In the early stages of a coaching business, you will not know what it will become. So do not focus on executing a big vision initially, you want to leave space for trying new things and for exploration and reinvention. You can really adapt your business to your life, and we highly recommend staying genuine and quirky because that is what people will connect with! As always, real-time feedback is invaluable, so take notice of what people relate to and what they are saying.

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