G-BLLC06DBK9 520165642414387 57 | How to build your profitable niche and offer pyramid - Women in The Coaching Arena

Episode 57

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Published on:

11th Apr 2024

57 | How to build your profitable niche and offer pyramid

Today, I bring you a unique how-to guide aimed at cutting through the noise with a holistic approach. Here's a roadmap to constructing your profitable niche and offer pyramid, ensuring your coaching business not only stands out but thrives.

Key Takeaways:

1.Front Door Focus on A to B Transformation - [00:01:00]

Emphasise a simple, relatable 'I help' statement that speaks directly to what your clients actively seek, ensuring you address their front door needs before exploring deeper issues.

2.Is It a Bleeding Neck Problem? - [00:05:00]

Prioritise urgent, pressing problems that your ideal client needs to resolve immediately, rather than nice-to-haves that lack urgency in their eyes.

3.Demonstrated Through Concrete Ideas - [00:09:00]

Develop clear, compelling offers that solve specific problems quickly and effectively, avoiding over-complication and focusing on immediate value.

4.Your Point of View - [00:12:00]

Share your unique perspectives, beliefs, and stories to stand out in the crowded coaching market, creating a niche of one that attracts clients to your distinctive edge.

Conclusion:

[00:13:00] Jo underscores the importance of continually refining your business edge, beyond mere tactics like DMs or ads, toward building a robust and distinctive coaching practice.

Useful Links

How to secure more coaching clients' free training

Download the 12 ways to get clients now

Learn about The Business of Coaching programme

Connect with Jo on LinkedIn

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If you’re kind enough to leave a review, please do let Jo know so she can say thank you. You can always reach her at: joanna@joannalottcoaching.com

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Mentioned in this episode:

Signature Solution Launch Offer

If you want to get clear on your niche and signature coaching offer, the Signature Solution self-study course will take you through the process. Use the coupon code GIFT to get 50% off in this launch period only (expires 10pm on Friday 19 July). Click the link to sign up now https://go.joannalottcoaching.com/signaturesolution

Signature Solution Launch Offer

If you want to get clear on your niche and signature coaching offer, the Signature Solution self-study course will take you through the process. Use the coupon code GIFT to get 50% off in this launch period only (expires 10pm on Friday 19 July). Click the link to sign up now https://go.joannalottcoaching.com/signaturesolution

Transcript
Speaker:

Hello and welcome to Women in

the Coaching Arena podcast.

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I'm so glad you are here.

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I'm Jo Lott, a business mentor

and ICF accredited coach

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Microphone (Samson Q2U Microphone):

and I help coaches to

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build brilliant businesses.

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I know that when you prepare to enter

the arena, there is fear, self doubt,

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comparison, anxiety, uncertainty.

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You can tend to armor up and

protect yourself from vulnerability.

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In this podcast, I'll be sharing

honest, not hype, practical and

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emotional tools to support you to make

the difference that you are here for.

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Dare greatly.

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You belong in this arena.

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Hello, welcome to the 57th episode

of women in the coaching arena.

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I am so glad you are here.

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I have thought long and hard about

what to record for you today.

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Because I think there is

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so much how to content out there.

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And there is so much noise.

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That I'm really hesitant to add to that.

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But I do want to help.

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So what I thought I would do

today is bring some how to content

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into a more holistic approach.

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So you build something really solid.

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So this is my profitable

niche and offer pyramid.

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So I would love you to think of a pyramid.

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And we're going to start from the bottom

and there are four layers to this pyramid.

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Our first step on the

bottom of our pyramid.

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Is a front door focus on a

simple a to B transformation.

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So this is your I help statement.

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So I help coaches to get

clients with honesty, not hype.

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That is my I help statement.

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You was, might be something like I

help mums who are stuck in a rant,

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get into a job that they love.

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Maybe it's I help leaders who

struggle to speak up in meetings

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communicate clearly and concisely so

that they get their next promotion.

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I often talk here about the

front door, back door framework.

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So if you're thinking about

your, I help statement.

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Really think about whether you are

focusing on the front door needs, which is

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something that they are actively looking

for, that they know that they want.

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So that might be for

example, to get a new job.

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And what we can end up doing as

coaches, because we know that there

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is so much more to getting that job.

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Is focusing on the back door, which

is knowing their values, elevating

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their mindset and improving their

confidence, knowing their strengths.

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and yes, we do need to talk about

that stuff, but we always need to

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lead with the front door, which is the

thing that they really, really want.

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And I often talk about when

I first qualified as a coach.

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And my friend was applying for jobs

well beneath her pay grade because

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she'd lost a lot of confidence in having

children and taking that step back.

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And so I was wanting so eagerly to use

my new coaching skills and saying, come

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for coaching, it really help open your

mind and we'll work on your confidence

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and we'll do all this amazing stuff.

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And she said to me, That's really

nice, but I haven't got time right now.

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I need to get a job.

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And what I could have done is sad.

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Come work with me.

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I will help you to get that

next job that you want.

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And then in that first session, no doubt.

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She would have said.

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Well, the big problem really is that I

feel like I can't apply for that one.

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And then we could have had the real

backdoor discussion that we needed to

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have about why she wasn't applying for the

jobs that she was more than capable of.

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But to encourage her to want to

move forward on that problem.

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I needed to focus on her desire.

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Where her current awareness was, which was

focusing on that goal of getting a job.

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So our core concept for the bottom of

our pyramid is focus on the front door.

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So think about your particular

client's front door desire.

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What do they say?

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I just need to.

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Fill in the blank.

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No one just needs to know their strengths.

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No one just needs to know their values.

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They are nice to have.

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In the eyes of our clients.

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Yes.

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We know as coaches that

they are all very important.

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But in the eyes of the average person,

trying to get by until next Tuesday,

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they are not on the to-do list.

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So really think about what is that

front door focus that you need to

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think about for your ideal clients?

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So we're moving up our pyramid now.

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So we are on level two of our pyramid.

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Which is

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is that a bleeding neck problem.

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So for your ideal client.

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Is this a bleeding neck issue.

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So John Mendoca I think he's called

is the first person who I've heard

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say this bleeding neck issue, but I

think it's a really great analogy for.

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Is this an urgent problem that

I need to sort out right now?

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Or is this a sprained ankle where

I can just hop along, which in

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marketing terms, sadly means never.

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And in a world where I would love people

to prioritize nice to have things.

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There is nothing you can do if

the people you want to help won't

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prioritize that problem in their life.

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Yes.

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If you really go all in, maybe

you might be the one in a million

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who can really frame their

problem as essential to sort out.

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But your life will be really hard if you

try and focus on a problem that your ideal

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client isn't prioritizing in their life.

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There's a quote from Perry Marshall,

which is from the 80, 20 sales and

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marketing book, which says, "if you

want to make money, your service

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has to deal with something that

involves one or both of the following.

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One is pain and great inconvenience,

loss of money, threat of loss.

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And, or number two.

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Some craving for pleasure that

borders on the irrational.

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So we buy to move away from

pain or move towards pleasure.

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Usually to move away from pain.

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So what is a painful enough, very

specific problem that you could

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solve for your ideal client?

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I'm running a program to help people to

create an online course and group program.

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And, what I talk about in that program

is different options to help people to

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see that there are various solutions.

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So, for example, do you want

to do a flagship course, which

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is a really long in-depth.

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Program about a big, broad issue.

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Do you want to do a focused course,

which is one tiny part of that problem.

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So for example, instead of having a

leadership course, You could have a

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course to help people to communicate

effectively in team meetings.

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So that is a really great way of

trying to identify actual specific

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problems that you could solve and

sell quite quickly in your marketing.

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So really do think about how you can break

down that big goal into a very specific

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problem that you can help them to solve.

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That can often be a way of really

focusing on a bleeding neck issue,

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an actual problem that they are

actively aware of and wanting to solve.

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We're on step three of our pyramid now.

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Firstly, we've had our, I

help statement at the bottom.

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Next up was is that bleeding neck issue.

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We are on the third layer of

our pyramid now, which is, is it

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demonstrated through concrete ideas?

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So, this is when your offer comes in.

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So just like I talked about

that in that last example.

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You could have a specific offer.

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It can even be a half day thing.

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Where you work on helping someone

to communicate effectively

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in the next team meeting?

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That's a really easy offer to get

out there and start talking about

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rather than spending months and months

behind the scenes, trying to come

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up with your signature framework.

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I would really encourage you to spend as

little time behind the scenes as possible.

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Building these offers that no

one will probably ever see.

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Because you will procrastinate,

you will go round around in circles

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thinking should there be five

steps or should they be four steps?

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And it really doesn't matter .What

matters is, this person is struggling

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to speak up in their team meeting.

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What is the quickest, easiest

way you can help that person

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to solve that specific problem?

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And package it up in a way that helps them

to want to take part in what you're doing.

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So, for example, what Joe Wicks did with

cooking is he's not selling, cooking.

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He is selling lean in 15, so

15 minute meals and workouts

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to keep lean and healthy.

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So he has taken that

big concept of cooking.

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We can take our big concepts of

coaching and think about a way of

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packaging it up so it's exciting.

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So, is it something like

15 minute meeting mastery?

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I've just made that up off

the top of my head, so I'm

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sure you can do it better job.

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But hopefully you see my point

in that we want to package it up.

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So it's exciting.

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And so that person wants

to do something about it.

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Another example is the book the first

90 days where they have focused on

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the first 90 days in a new role.

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They understand what that's

focusing on enough to buy it.

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90 day bootcamp is another example.

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Where we can visualize where

we want to be by summer.

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So we think, yes, I do

want a 90 day boot camp.

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They're not branding it as fitness.

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Like no one wants fitness, but what we

do on is the vision that by summer we

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are going to have an amazing body and 90

day boot camp really encapsulates that.

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So, how can you encapsulate

your offer into something that's

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exciting and appealing for people?

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So we're at the top of our pyramid.

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You have made it.

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So step four, the top of our

pyramid is your point of view.

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So start sharing your thoughts,

your opinions, your why, your

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vision, your school of thought.

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Your desired impact,

your story, your beliefs.

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Anything that makes you different because

that is something that is your edge.

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And no one else in this industry can copy.

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And why people will want to work with you.

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So do really pin down what is your

point of view in relation to your niche?

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Why is this so important to you?

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And how can you start weaving

that into your message?.

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So you have made it.

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We built our four step profitable

niche and offer pyramid.

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So to recap, the first step at the

bottom of our pyramid was focusing

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on a front door transformation.

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Next up was, is it a bleeding

neck problem to solve?

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Our third layer of our pyramid is, is

it demonstrated through concrete ideas?

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And the top of our pyramid

is your point of view.

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How can you weave your point

of view into your message?

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So you stand out and create

your own niche of one.

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So I hope that was helpful in

helping you to lay your business

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with an even greater edge.

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So think of it like a diamond

with loads and loads of edges and

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what I encourage my clients to do.

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Is keep finding your edge again and again

and again, and that is really what it

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requires to build an amazing business.

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It isn't enough to just hire someone to

do DMS for you or put Facebook ads out.

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It's about really having a solid

business and being committed to

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build that business and continue

to find your edge in this industry.

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So I hope you had a wonderful Easter

holidays, or if you are still on holiday,

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that you are having a great time.

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And like I say, at the end

of every episode, trust

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yourself, believe in yourself.

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and be the wise Gardner who

keeps on watering the seed.

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Microphone (Samson Q2U Microphone):

Thank you so much for listening to this

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episode of Women in the Coaching Arena.

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I have a mess of free resources on

my website joannalottcoaching.com.

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That's Joanna with an A

and Lott with two T's.

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joannalottcoaching.com.

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And I'll also put links in the show notes.

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Let me know if you found

this episode useful.

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Share it with a friend and

leave me a review, and I will

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personally thank you for that.

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Remember to trust yourself, believe

in yourself and be the wise Gardner

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who keeps on watering the seed.

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Get into the arena dare, greatly and try.

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About the Podcast

Women in The Coaching Arena
Helping compassionate coaches to grow their coaching businesses with practical and emotional tools so that more brilliant coaches build brilliant coaching businesses
Are you a coach who's passionate about making a difference and building a thriving coaching business? Join Joanna Lott, a business mentor and ICF certified coach, as she shares practical and emotional tools to help you succeed in the coaching arena.

In each weekly Thursday episode of The Women in the Coaching Arena Podcast, Joanna provides valuable insights and actionable advice on various topics, such as business strategy, marketing, mindset, energy and entrepreneurship. Whether you're just starting or have years of experience, this podcast is for you.

You have a gift that needs to be shared and Joanna is here to help you do it.

About your host

Profile picture for Joanna Lott

Joanna Lott

Joanna Lott helps coaches stand out and get clients - with honesty not hype.

She has 20 years’ experience of working within HR and Governance in trade unions and financial services.

After qualifying as an ICF Executive Coach she set about learning everything she could about business, sales and marketing and quickly built a profitable career and executive coaching business around her young family.

Other coaches started asking her how she did it, so she’s supported 35 coaches in the last year alone to help them to build their business and get clients so they can make a living doing work they love.