I have been asked many times the difference between coaching, and consulting, and how mentoring fits into this. It’s a good idea for business owners to know the difference and identify what they need help with before going out and hiring someone.

Mentors typical walk alongside of business owners and impart wisdom by sharing their own successes and failures. Mentorship is usually developed organically. Nowadays, many government agencies serving small business owners, such as Women’s Entreprise Centre, connect business owners with a mentor as well.

Coaches help by probing and asking questions business owners need to find answers to – it’s a self-discovery process. Business owners often benefit from having someone to keep them accountable. Coaches usually work with business owners over the phone for a couple of hours a month.

Business consultants, contrary to coaches,  focus on the business challenge and help by solving problems and offering suggestions to a specific business issue, such as marketing or strategic planning. Consultants work with business owners to understand the external environment they’re operating in, the internal business capabilities, and strategize to come up with the best course of action for the company to move forward.