Do you need a business coach? Or maybe a consultant or mentor? Which would help you the most? If you’re unfamiliar with the differences, it can be confusing for small business owners.
Running a business can be tricky and challenging. You sometimes end up in complex situations with complications that require quick, simple, and practical solutions. It is hard for business owners to make all the decisions by themselves.
Business coaches, consultants, and mentors can guide and help you make the best decision considering your context. Their guidance and support can help small businesses expand and excel, and even big business can hire a consultant. An expert’s valuable opinion can significantly improve professional development and success in the industry that you’re operating in.
But, which type of business advisor should you choose for your company? Do you need the help of a coach or a consultant? Well, the right mentor can give your business just what it needs!
Most people don’t understand the critical differences between a business coach, consultant, and a mentor. If you’re one, this post will certainly help. And if you don’t have some degree of humility, then none of these will help.
What is a Business Coach?
Coaches are familiar; from the wellness industry to the field of business, they play their part everywhere.
A business coach’s expertise is asking the right questions. They use their coaching skills and techniques to help a business owner explore the problems. As such, these professional advisors focus on what you desire to achieve and shine the light on gaps to getting there.
Your business coach will be your wingman as they help you to spot problems in the business and walk by your side finding solutions with you. They will become the support system that establishes the right questions so you can find practical, accurate answers and develop your leadership skills.
Business coaches may help in the areas of emotional intelligence, active listening and developing executive presence. It’s common for a business owner to have a close relationship with their coach as they will often talk about various aspects of the business in privacy.
Through quality business coaching, you can focus on what truly needs your attention and provides accountability for taking action to move forward. In the next section, we’ll talk about the difference between a business coach vs business consultant.
What is a Business Consultant?
Consultation refers to providing expert advice to someone in a professional field. As such, consultants pass on their knowledge and expertise to their entrepreneurs providing technical and professional advice. However, this does not mean your business consultant can answer all your questions immediately.
Clients pay business consultants to solve a given problem that they’re facing. A consultant will be responsible for delivering a practical solution or idea to solve the issue as efficiently as possible.
Business owners can altogether leave their problems in the hands of the consultant. As a business owner, you don’t need to play an active role in finding solutions after you hire a business consultant.
Your business consultant can be a part of your business long-term, or you can hire one for a specific problem as needed. Usually, consultants come into action based on projects. They are a proactive part of the business and play a responsible role in enhancing its efficiency.
A business consultant listens to your problems, understands their context, and looks for the best course of action. You will need to provide them with data such as scope definition, briefing, and review phases.
As it goes on, your consultant will get a better understanding of your business better and can provide better solutions according to your company’s specific requirements. Usually, a business consultant will evaluate the practices in your business and the solutions that you already applied.
What is a Business Mentor?
Now that you know what roles a business coach and business consultant play, let’s look at the responsibility of a business mentor. Typically, a mentor will usually support an individual, the “mentee,” as well as the business.
Whereas a consultant has a solid business background, but not necessary specific industry knowledge, a mentor has been or is in a place that you want to reach.
In other words, they are experienced in a particular field and advise others with less experience. You likely need support and advice from a mentor if you’re a young entrepreneur new to the area of a particular type of business.
Good mentors are trusted guides for their mentees and are willing to pass down their skills and knowledge. As a business mentor transfers knowledge they gained from experience; your business is more likely to experience growth as your career develops.
Bottom Line
Most young business owners are unaware of the differences between a business coach, consultant, and mentor. The three types of business advisors are vital in helping a business grow and expand.
Your business coach helps you set goals and achieve them by asking insightful questions, while a business consultant is responsible for solving a problem. If you’re new to the industry, you will need the experience and knowledge of a business mentor.
Paul Strobl, MBA, CPC
Owner of Confide Coaching, LLC
Paul is a Master Life Coach for GenX and GenY executives and business owners. Originally from Houston, Texas, he has been location independent for most of his adult life. He currently resides in the Rhodope Mountains of Bulgaria near the Greek border with his brilliant wife, 13-year-old stepson (officially adopted in 2021!) and a Posavac Hound rescue.
