My niche created

Jun 11, 2023 | Professional reflections

Under the guidance of Christie Mimms and the Coach Pony Team, I've spent time working on my niche, something I have never got right in the past.
My approach to client selection has been haphazard for most of my business career, and I am sure this has worked against me.

This is one of the reasons I joined the Coach Pony community, to get help and guidance to find my niche.

A niche structure

Coach Pony provides a defined structure for creating a niche, known as the Pick 2 and Pick 4, consisting of:

  • The demographic
  • The demographic qualifier
  • The client’s big goal (the how)
  • The big goal qualifier (the why)

Why this niche

I spent some time considering why I want to coach. Post my authorised business, I felt the need to move away from money and focus on life. However, I have now reverted to focusing on life and money. This is because money is an arena I know about and because, in conversations, money is signposted as a challenge for many. I emphasise that I am no longer authorised to provide financial advice. However, I and those I talk to are deeply interested in the humanity of money and their relationship with money, and this will be my direction.

I have three principal reasons for going down this path:

  • After my father retired, Mom and Dad quickly slipped into a slow, stay-at-home life which seemed dispiriting and a waste of their experience and talents. So, instead, I vowed to remain active for as long as possible and do what I could to help others avoid being snared by the trap of inactivity.
  • Then, in my twenties, I made a severe financial misjudgement with ruinous consequences. However, I recovered when I put my life first and my money second, not the other way around. This philosophy has stood me in good stead since then and inspires me to help others see their money as a means to an end, not an end in itself.
  • Finally, twenty-five years ago, my wife and I started a family, and I started my financial planning business. My “job” was to raise my family with my wife and build a successful business. So, when Alex left home, and I sold my business, I felt fulfilled. However, I also felt lost, empty, and directionless. And my energy and wealth, and even my generosity of spirit, felt depleted.

Foundational principles

My services are routed in my conviction that you achieve spirituality by making a positive difference to others, which gives meaning and purpose to your life. In so doing, you become focused on others, not yourself, and let go of much of your “stuff” to focus on making an impact. And change is always a challenge, a sort of pilgrimage, leading to a more spiritual life.

However, I believe you must create and hold wealth in all its forms to do this. Wealth includes skills, values, relationships, networks, and financial wealth. There is nothing wrong with wealth. However, it becomes a millstone of materialism rather than a source of spirituality when used for personal ends rather than to make life better for others.

Money is the most common form of wealth and possibly the most important. Money makes the world go round. There is no doubt about it. However, money is destructive when it becomes the centre of your universe. Money is a great spiritual teacher, and I believe you handle your financial wealth better when you have deep financial maturity and excellent financial organisation.

This is the virtual circle of spirituality, wealth and impact.

My niche

After much thought, I have arrived at my niche:

I support parents whose children are leaving home to re-organise their lives and money so that they live with security and renewed purpose.

An alternative, slightly longer statement puts additional emphasis on the last part:

I support empty nesters who have survived parenthood to organise their money and their lives so they can grow wealthy, make an impact and thrive gracefully.

The direction I wish to take is now clear. However, I need to test this proposition, and my next step, as suggested by Christie and Coach Pony, is to test the proposition by interviewing at least three individuals.

What do you think?

Your views are important, and your fellow readers would love to hear your opinion,
so share your thoughts in the comments box below, and thank you for your time and generosity.

What do you think?

Your views are important, and your fellow readers would love to hear your opinion, so share your thoughts in the comments box below, and thank you for your time and generosity.

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