| Coach, Consultant or Mentor? |
With the current state of the economy, it is more important than ever that business people get as much help and support as they need to ensure their business thrives and prospers for years to come.
The most successful achievers have relied on mentors to reach their full potential. There are many benefits to bringing a business mentor on board, whether its early stage of development or time to put an exit strategy in place. A knowledeable mentor can help business owners take a step back and see 'the big picture' and realign and focus while providing advice on improving results. A business mentor can be someone to confide in, a sounding board for ideas or a brainstorming partner. Often, simply someone to talk through plans and ideas that can help a business owner organise their thoughts and put them into place to make their company a success.
We have found through our travels that there is often a lack of clarity around the difference between a Coach,Consultant or Mentor and knowing which one is right for your business can be a difficult decision. Lets demistify the difference for you and then give you some tips for selecting the right one for your business.
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| A coach is usually responsible for increasing or improving performance in a given area. A coach sets goals and targets with you, drives you to achieve them and holds you accountable on a regular basis. A coach is a useful aid to your business when you are focusing on key drivers for your business and you need someone to keep you on track and hold you accountable against results. A coaches focus is usually task related and based on those goals you have identified and agreed upon together. |
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| A consultant is someone that comes into your business for a specified time frame under contract to execute a project or task as part of a business solution you have identified that needs fixing or putting in place. Consultants bring great expertise in targetted key areas to your business and add specilised outsourced skills to your team when they are needed. |
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A mentor is someone you can bounce ideas off and use as a sounding board as they steer you and guide you in the right direction and provide their knowledge and expertise where needed. Mentoring involves a developmental relationship between a more experienced mentor and a less experienced partner and involves sharing of advice. A mentor's focus, unlike a coach, is typically on the individual and not on a specific task or performance. A mentor listen's, asks questions and facilitates your goal setting and planning, decision making or problem solving process. A mentoree should request and confirm meetings, set the agenda and identify goals. It is also the mentorees responsibility to make decisions and take actions to achieve them. A mentor is a great resource a facilitator to assist you with developing and growing both you and your business.
Benefits of Mentoring:
- Fast and effective learning of work skills and a great way to achieve goals
- Having a role model to help clarify own desired future and self concept
- Having a sounding board to talk over issues of personal concern
- Provide a sense of belonging to the organsation
- Rapid career and personal development
- Come away with greater self-confidence, willingness to take on responsibility and the ability to take more informed risks
Qualities to look for in a Mentor:
- Someone with more experience in your subject or institution
- Someone in a more senior position
- Someone well connected and able to help you network
- Someone who has skills that you would like to learn or develop
- Someone whose work you respect
Tips for maximising your mentoring relationship:
- Make meetings with your mentor a priority
- Make a committment to work together with your mentor in achieving goals
- Establish guidelines and expectations for the relationship
- Follow through on commitments
- Frequently review goals and track progress with your mentor
- Exchange positive and developmental feedback, expectations and concerns as regular agenda items
- Prepare items required for meetings with your mentor
- Ask questions and listen actively
- Record notes from your mentor and instructions/lists of tasks required so you don't miss anything or forget instructions
- Maximise differences in work styles and life perspectives
- Take risks and act to build trust
- Actively seek networking opportunities
- View your mentor as a professional resource
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At I&IBS we have a 6 session Mentoring Program available and when undertaking our Business Plan Service it includes one-on-one mentoring sessions over a 6 month period. For details, visit www.i-ibs.com.au or email us to organise an obligation free chat over coffee about how we can assist you with developing and growing your business. |
Return to FREE RESOURCES list page. |
Current as at:1-Feb-07. © Important & Imperative Business Solutions (I&IBS), 2006.
The writer, Wendy Fogarty, is a Business Growth Consultant who has almost 25 years experience and a dedicated focus on business development through strategic knowledge management. Wendy has worked with many successful SME’s and been involved in aspects of their business development in the Illawarra and beyond. Wendy runs a boutique business consultancy focused on delivering a range of business growth services. Call Wendy today at I&IBS on 0242832221 to find out how she can help to develop and grow your business.
Disclaimer: The information published in the above article is subject to copyright and may not be reproduced in any form without written permission from Important & Imperative Business Solutions (I&IBS). The above article is intended as general information only and should not be relied on in place of specific legal or professional advice. I&IBS accepts no responsibility or liability for any damage which may be incurred by any person acting on this information provided.
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