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Business Mentor, Business Consultant, and Business Coach: What’s the Difference?

Business Mentor - Business Consultant - Business Coach for entrepreneurs

Hi everyone! I hope you’re all having a fantastic day. It’s great to have you back for another exciting blog post. Today we’ll look at the differences between a business mentor, a business consultant, and a business coach. All three are important and serve a purpose, but they are also very different from one another. We regularly encounter a lot of questions about their differences, so let’s go over some of the most common ones below!

Business Mentor 

A business mentor is different from a business consultant and a business coach. A business mentor is someone who has “been there, done that”. He/She has been where you are and understands what you’re going through firsthand. As a general life example, suppose you’re the parent of a 5-year-old and you’re being mentored by someone whose children have already left the house. This person has walked in your shoes before.

So, assume you have a million-dollar business with 10 employees and you want to grow it to a multimillion-dollar business with 100 employees. If you’re mentored by someone who owns a $250 million business with hundreds of employees, that’s a great business mentoring opportunity for you. This person will tell you about their journey to get to where they are now.

Another distinction to consider is that a business mentor isn’t really acting as an accountability partner. He isn’t holding you accountable for specific action items and he isn’t necessarily walking you through processes in the way a business consultant would. He’s definitely not developing processes or performing other types of consultant work for you. He’s basically giving you feedback, possibly offering some ideas and resources, and sharing his real-world experiences with you.

A third distinction is that a business mentor isn’t typically paid. You might take your mentor out for dinner, get a cup of coffee, or grab a beer while you discuss things, but it’s not a paid position.

Business Coach

I don’t want to get into too much detail about business coaching services and business consulting services because we’ve already discussed it, but coaching is about empowering you and working on yourself. There could be a more comprehensive approach. A business coach equips you with the necessary tools, works on your mindset, creates accountability, and sometimes motivates or inspires you. Yet, you are responsible for the majority of the work, and your business coach will hold you accountable by asking probing questions.

Business Consultant

A business consultant may be an expert in his field and he may perform a significant amount of work for you. He develops the processes, rolls up his sleeves, and works with (or for) you to build the system. You could also hire a business consultant instead of hiring a new employee, and this would be an example of a seasonal situation in which someone comes in for six months to two years. He does his thing, and then leaves.

 

You are now aware of the key differences between a business mentor, a business coach, and a business consultant. You might need all three of them at certain phases of your life, or you might need one more than the others, at other times. At EntreResults, we can act in all three roles. We can lead with coaching to empower you and work on your mindset, but also engage in some consulting. Depending on the situation and your needs, there may be times when you need to be mentored as well.

Now that you understand the fundamental differences, it’s time to make your decision based on your needs and reach out to business mentors, business coaches, and business consultants for assistance. If you have more questions about this topic, we’ll be happy to answer you! Just let us know by sending them to our inbox!

Above all, make it a better than amazing day!