Several years ago, having a “life coach” or “business coach” or “mindset coach” was kind of a new thing.
Some people could clearly see the how a coach was able to help them, while others were a bit skeptical.
Fast forward to today, and the coaching industry is booming, even a bit saturated.
The good news, more people are seeing the value of a coach to help them in specific areas of their life. They are realizing they don’t necessarily need a therapist, but they do need help.
People don’t want to see a therapist if they need help with their way of thinking, or need help with setting up their business, or need help parenting young children or getting kids to sleep at night, or just need someone to guide them to make more money.
So, they turn to a specialized coach.
And life coaches are making a lasting impact.
But with so many people also wanting to become full-time coaches, it can be hard to break into the industry and be successful.
As an aspiring, or even seasoned coach, you have to be able to stand out in the market.
You need to provide VALUE to others.
And you have to provide something that everyone else isn’t already doing.
You have to put YOUR SPECIAL STAMP on it.
You need a competitive edge! Something that helps you stand out from everyone else, that sets you apart from all the other coaches out there.
What is it that you do that everyone else doesn’t? Or what do you do differently than everyone else that will help your clients?
This doesn’t have to be complicated, but as you market yourself and how you can help those in your niche, be sure to showcase your competitive advantage.
What is a Competitive Advantage?
A competitive advantage is something that allows you to offer a higher quality of service or provide more benefits than other businesses. It is something that is unique to your business, something other similar businesses do not have or don’t do.
Ultimately, your competitive advantage will help you attract, gain and keep more clients.
It can be tempting to think of things like hard work ethic, good customer service, or cheerful attitude. But a competitive edge is more than that. If you think about it, most coaches would say they offer those things.
To truly have an advantage, you need no have something or do something no one else does in the same way. You need something that is unique to YOU and YOUR BUSINESS.
It could be a signature program, a specialized process, an individualized way of thinking or looking at things, an original product or a special recipe.
How do you determine your competitive advantage?
- First, make sure you have a clearly defined niche and understand the difference between an audience, niche and ideal customer avatar.
- Understand your unmet customer needs or the problem you are able to solve
- Make a list of things you do differently than other similar coaches
- List what you do (or things you know) that no one else does that specifically help your customers. Examples include special formulas, frameworks, systems, processes, education, experience, contacts, advanced knowledge and training, etc.
- Create a statement you can use as an “elevator pitch.” It can be something like,
“In addition to _______ coaching, I also offer _________.”
“As part of my ________ business program, I use a ________ formula to ____________.”
“Unlike other _______ coaches, I _____________ so you can ____________.”
An example, my competitive advantage is,
“Unlike other business coaches, I don’t just tell you WHAT you need to do to set up your online business, I actually walk you through exactly HOW to do it and train you on the tools you need. This way, you get to spend your time doing what you love most while your business runs smoothly in the background.”
One of my favorite quotes is,
“Why fit in when you were born to stand out?”
– Dr. Seuss
If you want your business to be successful in today’s coaching market, you need to have a competitive advantage so you clearly stand out in the crowd.
Download your free copy of the How to Define Your Niche Guide and Worksheet and see how to use your competitive advantage statement.
