Whether you’re just starting up a business or into your 20th year of running one, there are many reasons why you may want to invest in some outside help.
You might need assistance building a new website and tracking orders, or you want advice on how to communicate better to your staff and customers. Maybe your business is going badly and you want to know why, or it’s going really well and you want to know why (so you can replicate that success).
This is where business coaching or business consulting can be very handy.
Both coaches and consultants are dedicated to helping you achieve business growth and improve how you operate, but their approaches are different. Only one of them will adopt the method best suited to where you are now and where you want to be going forward.
Keep scrolling to find out exactly what business coaching and consulting is, how they are alike and unlike, and which one would be a fit for you and your needs…
What is Business Coaching?
Business coaching is about helping small business owners become better versions of themselves.
Often looked upon as a mentor or motivational–like role, it’s the job of a small business coach to support and educate business owners, as well as provide recommendations for their company’s vision, growth and goals.
They essentially see any and all issues in a business as starting from the top – the founder, director or manager – so they work towards improving their mindset and boosting their skill set so that they can start implementing changes and get results on their own.
Business coaching services often include:
- Constructive criticism.
- Identifying industry networking opportunities.
- Advice on company growth, goals and development.
- Assessing strengths and weaknesses.
- Analysing what has contributed to the company's successes and/or failures.
- Learning to overcome a range of physical and mental roadblocks.
- Gaining self–confidence and autonomy.
What is Business Consulting?
Business consulting is about providing small business owners and their teams with the expertise they currently lack.
Often seen as an additional tool in your business management arsenal, it’s the job of a business consultant to collaborate with companies on the more problematic areas of their business’ operations and plan solutions and problem–solving, step by step.
They will educate themselves on the best practices for your industry and specific business, analyse issues (as well as pick up on new problems) and come up with a customised plan which they will work on and reassess accordingly with their client.
Business consulting services often include:
- Providing a fresh perspective.
- Sharing expertise and experience.
- Identifying problems.
- Planning solutions.
- Initiating strategies.
- Monitoring results.
- Making ongoing changes where necessary.
Similarities and Differences?
In a business setting, the terms coaching and consulting can’t really be used interchangeably.
Although it's the intention of both professionals to help grow their client’s business in–store and/or online and pinpoint untapped potential, their methods and objectives are pretty different when it comes to creating successful businesses.
Business coaches and mentors are concerned with the growth and mindset of the leader and their team. Business consultants focus on fixing particular challenges and gaps within the business itself.
- Both are from outside of the business.
- Both offer a new perspective.
- Both bring knowledge and expertise in a variety of areas.
- Both can help you reach your goals.
- Both can be hired on either a short–term or long–term basis.
- A coach will teach the business owner to accomplish tasks on their own, while a consultant will often undertake tasks and make decisions for the owner.
A coach will address personal problems impacting the business, while a consultant will only help with problems directly related to business operations.
A coach will help develop soft skills like organisation and communication, while a consultant will help develop technical skills like website management and data analysis.
A coach is one expert, while a consultant often comes with a team of experts in a range of fields, such as finance, marketing, social media management, PR and more.
What's Best for Your Business?
Whilst a coach will work on improving you, a consultant will work on improving your business.
A small business coach is primarily focused on providing guidance and giving personal advice on good leadership, reliable customer service and accelerating self–confidence. A small business consultant is focused on coming up with specific solutions to specific issues, such as dwindling sales, poor website performance or low organic engagement.
A qualified and experienced consultant can also attend to the overall running of your business by developing a comprehensive plan and ensuring all areas – from management and marketing, to HR to finance – are making the most of the tools, capabilities and opportunities at their disposal.
You should hire a business consultant if you are:
- Ready to start or improve your marketing strategies.
- Keen to put actions and best practices in place.
- Wanting to attract and retain the right customers.
- Time poor and need an expert to do the groundwork.
TR Consulting offers a range of business consulting services. Get in contact with us today to find out how we could help your business grow online!