My belief is that most business owners share a unique “edge”: they are visionaries who are comfortable with the idea of putting their own money on the line. As a matter of fact, their entrepreneurial spirit is driven by their strong sense of self-belief that they can do what others are not capable of doing or solve problems that others are incapable of solving. That is what makes them successful. Despite our best efforts, I have yet to find enough hours in the day to be an expert at everything. We all have come to the point where we realize we are not equipped to solve a problem. Because of this, I don’t have the time to become an expert at everything. Hence, I’m not a dentist, a fighter pilot, or a breakdancer in my spare time…yet. Exploring the Benefits of Hiring a Business Coach or Consultant: What is the Difference?
As a result, when we are seeking answers to questions that we have, we often turn to coaches and consultants to help us find those answers. However, here’s where the problem lies: how many times have you hired coaches and consultants that weren’t that helpful?
There are lots of reasons why entrepreneurs have trouble researching and selecting the right coach or consultant when it comes to hiring one. It’s like searching for the right physician when you have no idea what your diagnosis is. And that’s a sure way to end up frustrated and wasting a lot of time and money.
In order to help you decide on who to hire, let’s look at some tips that will help you make an informed decision.
What are the differences between a coach and a consultant?
I’m sure you already know what a coach can do for you, but in a crowded economy, people are sometimes trying to get a little too clever with their ways of defining them, which makes it difficult to work together. So let’s make sure that we’re all operating from the same set of definitions.
Neither a coach nor a consultant is interested in offering you a solution to a business problem, but the approach they take to helping you solve that problem differs significantly.
In different ways, a business coach and a business consultant take different approaches to improvement. A business coach works exclusively with you, helping you improve your leadership skills, while a business consultant takes a more hands-on approach by providing solutions specific to the business.
My personal opinion is that coaching should be done with you while consulting should be done for you. To put a bow on it, I like this model: coaching is done with you, and consulting should be done for you. Let’s take a closer look at which option is going to best fit your goals, and yes, there are those that straddle this definition – but let’s use this for clarity’s sake.
Is a Business Coach an Efficient Solution?
Let’s take a look at the business coach, who offers the “done with you” approach to business coaching.
As a small business owner, you might have noticed that one of the biggest weaknesses you have is you often get more engrossed in what your business does than you do in how to make it work.
Obviously, the problem becomes even more challenging as your company scales and your focus shifts from simple execution (such as baking cakes, for example) to operations (such as hiring staff to bake cakes) to strategy (such as expanding our offerings and opening new locations? Selling cakes online?
A lot of business owners will feel out of their depth at this point as they are forced to work on new strategies and strategies that aren’t always the same as those they developed while building their businesses. It takes a different set of skills and experience to develop and implement new growth strategies.
An experienced business coach would be very beneficial to the company owner in this situation since they can provide them with the guidance and support they need in order to be successful in their business.
Turning entrepreneurial leaders into great business leaders
In a similar manner to how you hire an accountant to handle your taxes, a good business coach understands that managing a growing business can be challenging. It is their experience that has prepared them for a leadership role you need to play in your business, and they can help you become the leader your business needs.
One of the things that I find appealing about business coaching is that it is not just a conversation between the coach and the owner, it is more of a collaboration between both.
So if I were your coach, I really wouldn’t be there to lecture you on how you should run your business. I’d be there to help you tap into the valuable insights you already have and turn them into a vision for the future.
Business coaches seek solutions by asking questions, not providing answers.
In spite of the fact that I do not want to be confusing at all, business coaching is not a series of therapy sessions in which all your feelings about life are explored on a comfortable couch. The person you bring to the table has experience and insight that can help you bridge that gap between where you are and where you want to be.
The business development and leadership expertise that they provide is like a pulley that applies pressure to the weight you’re trying to lift and makes it lighter. The challenges you’re facing won’t disappear just because of their expertise, but your new strength in leadership will enable you to overcome them.
When Should You Consult?
It is important to keep in mind that a business consultant offers specific solutions to your business challenges, whereas a business coach is more focused on providing guidance. Think about a consultant as a professional subject matter expert who is able to roll up their sleeves and get right down to work.
There are many types of consultants available, depending upon the need your business may have: sales, marketing, HR, and production to name just a few. If you need a specialist for just about any aspect of your business, you won’t have to look too far to find one.
You might be thinking at this point that coaches help with those types of things too. But why would I need a consultant instead of a coach?
In terms of what each practitioner does, the fundamental difference lies in what each is trying to achieve. A coach is primarily focused on improving you, while a consultant is focused on your company. But here are some reasons why a consultant might be beneficial to you.
Benefits and Challenges of Working with a Consultancy
You can get rid of time-consuming tasks.
Even though you won’t be — or shouldn’t be — 100% hands-off with your consultant, bringing one on will relieve you of the burden of trying to develop and implement solutions on your own, freeing you up to focus on more important issues.
A consultant provides reliable coverage for a need so that your business continues to run smoothly while you focus on other tasks that need your attention. Due to this, you are able to continue to be as productive as possible while at the same time moving your business forward.
You take a shortcut to fill your knowledge advantage over other competitors.
It goes without saying that you are an expert in your field, but if you are unsure as to whether or not you can resolve a particular problem (or if your staff can’t solve it), then consulting might be a good idea.
You might not be able to find the answer to your problems by your own, but they might be able to point you in the right direction because they have worked in many different fields.
You can complete the process quicker
As I work with business owners, I see a lot of them standing in their own way because they have avoided bringing in a third party for a variety of reasons (often valid), such as the fact that they have experienced ineffective and overpriced consultants in the past. When you find the right consultant, you gain the benefit of using their skills and experience right into your business, which will save you a lot of time and money in the long run.
Would I benefit from a Business Coach or a Business Consultant?
My point is that the two strategies have very different kinds of value and I believe that every business would benefit from having both in its arsenal. The combination of a clear vision for the long term and a clear plan for the short term is one of the most powerful weapons a business can possess.
As a result, the following are my recommendations for hiring a coach or a consultant if you are looking to hire either of them.
If you have enough money to hire an expert
In cases where you will be overseeing an area for a long time, it is more likely that you will benefit from the assistance of a coach. In such a situation, a coach can prove to be an invaluable resource as he or she helps you develop your vision and leadership skills. You won’t just benefit from their insights now, you will have the tools necessary for long-term success.
If someone…, then you should hire a consultant
When you require a consultant’s expertise to be applied to a specific situation, you might want to consider bringing them on board. A consultant is intended to act as an auxiliary to your existing team, providing temporary assistance to fill in any gaps in your abilities. This may include anything from sales and marketing to human resources to industry-specific service providers.
What if you need both?
Having both of these needs in a business is not uncommon. In some companies, it is a necessity as a leader to be supported and guided, but there are also challenges that are specific to your company.
Insights produced by questions paired with solutions based on responses are what you need both reflective guidance and expertise in the business.
It’s possible to find programs that combine the best of both worlds under one roof in order to meet your requirements. If the consulting element fits the needs you are trying to meet, then one of these programs might be the right choice for you.
How we do the work
In order to provide a better understanding of how our approach works, I will use our model here at Value Prop as an example. We offer owners a blend of coaching and consulting outcomes in order for them to be able to take the right steps to grow their revenue.
As a business coaching company, we help business owners develop into leaders who know where they wish to take their business and how to achieve it by providing them with the tools they need.
Besides advising our clients on how to deal with their growth challenges, we help them implement solutions to those challenges that are unique to their businesses. We provide business owners with the tools to develop and implement the strategies that will allow them to grow again.
Learn more about our unique, strategic approach to growth before you leave the office. I am confident that you will find that our approach will help you find solutions to your challenges and make sure your business is well-positioned for new revenue growth. Follow me on Facebook.