There are so many terms for what is often quite similar to a business coach. It is easy to wonder what is what? There are also other terms I’ve seen being used, like ‘Business Strategist’ or ‘Business Supporter’. However, there are differences to some of these terms and remember if you’re engaging someone, ask exactly what they are and what they do and how they could help you. It may not be what you assume.
Business Coach
Business coaches are usually seasoned people who help businesses. They can work with you online, Face to Face or over Skype or Zoom. It might be in groups or individually. Personally, I prefer to help my clients individually as I like to provide very personalised and customised service. It’s not about me, or what the rest of the group needs, but what you specifically need!
Traditionally, coaches would not provide advice or specific recommendations but would ask questions – often excellent questions and frequently the questions that no-one wants to ask. Often the questions would lead the person (coachee) to the right conclusion or best solution for them.
However, these days (in my opinion) business coaches have (I believe through necessity) become more and will also:
- Help clients determine their goals, and more important guide them to achieve those goals through strategic planning and implementation
- Identify opportunities for the business in both improvement and growth
- Guidance and education around business and business leadership
- Feedback and accountability.
Business Mentor
Often the role of a Mentor is free, but not always. Mentors are often people who have been in an industry for an exceedingly long time and have a wealth of knowledge to share. Somewhat of a Master and Apprentice relationship. One example might be that a boss will mentor one of their employees (or a few of their employees) to help them grow, expand and become better at their job and their career.
The Mentor will often:
- Establish with the Mentee what their goals and objectives are
- Allows the mentee to be responsible for their own growth, planning and growth
- Commits to the relationship for a period of time and on a regular basis
- Actively listens and provides constructive and honest feedback
- Provides advice, guidance and shares knowledge and wisdom.
Business Consultant
A Business Consultant is the expert who offers advice, information, insights, and recommendations but also will often assist their clients in achieving their objectives. They will roll up their sleeves and dive in to help with their role frequently being solutions-orientated or project-based. Some examples of what they might do include:
- Organise and then assign business projects
- Meet with team, clients or other stakeholders
- Help recruit new hires
- Assist in implementing an activity
- Thoroughly review the internal operations and systems
- Create a marketing plan, budget, forecast or business plan
- Perform analysis or research.
Business Advisor
When it comes to the Business Advisor, this is someone who often is providing specific advice, based on their areas of expertise and extensive knowledge. They will provide guidance and strategy and make recommendations but usually do not stay involved as that advice is implemented.
Business Advisors are responsible for planning and executing business strategies to improve efficiency in the operational and financial management of the business. Their expertise may be around:
- Finances, including Liquidation or Bankruptcy
- Buying or selling a business or asset
- HR & IR issues
- Legal issues
- Long-term planning, addressing potential risks or opportunities.
What is Donna Stone?
Whilst I adopt the tag of ‘Business Coach’ (one can’t be a long hyphenate) I consider myself somewhat of a hybrid. I am a business coach, I am a mentor, I am a strategist and a consultant. I do ask relevant and great questions (and yes, often play devil’s advocate) and if I determine quite early on that the business is in ‘hunt mode’ and needs business in the door quickly or has a problem that needs fixing quickly, then I’m not going to just keep asking question after question in the hope that the client will come to the right conclusion. Even if the client isn’t struggling, there comes a time when the questions stop – and the answers come. I will provide advice and guidance and often different options. I will provide the pros and cons of each so that together we can come to the right or best solution. I don’t dictate what needs to happen. After all, my clients are adults and it’s their business; they make the final decision. My objective is that they make an informed decision and know the likely rewards or consequences of their choices. As importantly, I will show them the plan to actually implement. Many clients often know what they need to do, but sometimes lack the know-how on how to actually take a plan to action. What steps are needed and in what order.
Depending on the package level, I do often roll up my sleeves and help a client where they need it (or when they need it). This might be creating their budget, or marketing plan or working with them to write their business plan. These documents are not just ‘off the shelf’ – I actually work with the client to create documents which are relevant and worthwhile to the business.
Yes, I do provide strategy, planning and goal setting and often I work hand-in-hand with clients to help them achieve those goals. And yes, I do hold clients accountable. They get ‘homework’ to action which is not just ‘busy work’ but relevant to what they need to action and I follow up. If there is a clear lack of action, I dig in deeper to find out why. Is it avoidance, a blockage, time, or some other struggle?
Frequently, I am a sounding board. I will listen, provide thoughts or ask questions and possibly show an alternative solution that hasn’t been realised previously. This is absolutely a team effort; the more honest and open a client is with me, the more I can support, assist and guide them.
Additionally, I often have fantastic resources they can use, read or access. I also have some fabulous connections in the business world; people who I know and trust and who I definitely know will look after my clients as much as I do. (And if they didn’t, they know they would be hearing from me!) These people are not affiliates or pay me a commission; I use and recommend them because I know they do excellent work. After 30++ years of experience helping Aussie businesses, I have qualifications and experience in:
- Strategic Planning
- Marketing, Perception & Sales
- Finance & Money
- People, Systems & Operations
- Time Mastery and much more …
There are things I don’t know or don’t do. I will be honest and say “I don’t know that” but I will either find out the answer or direct you to an expert who does know. There is an awful lot I do know, but I am human and always learning and won’t guide anyone in an area I am not knowledgeable or am unlicensed to cover.
I care about my clients; my passion is truly helping them realise their full potential. We are friendly, but they are not my best friends – because I believe in being truly professional whilst maintaining warmth and empathy.
Whether you’re looking for a Business Coach / Advisor / Mentor / Strategist or a Hybrid – and would like to work on your business or yourself – either solving a problem, growth, improvement or something different – reach out to me at my contact page.
