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Business Coaching vs Business Mentoring – What’s the difference?

Written by Rick Fitzpatrick • Director and Founder
Published on 03 Jul 2018

In this post, we want to alleviate the confusion around business coaching and business mentoring. At first thought, the names seem interchangeable, don’t they? But it turns out they really do differ in terms of how they approach you and your business. So let’s tackle the subject and explain Business Coaching vs Business Mentoring – What’s the Difference?

Q: Do these services really differ?

A: Yes

Q: Aren’t the terms interchangeable?

A: No

Q: Surely you get the same service out of them?

A: No

 

Business Coaching

Your business coach is just like a sporting coach. They will work you hard until you reach what you set out to achieve. It’s like an athlete training for a marathon. Their trainer will be there in the lead up to the event, but once they have successfully completed the big race the coach tapers off. Business coaches are training and conditioning you to reach specific and measurable business goals. They hold you accountable, advise on strategies and techniques, and perfect skills to reach a certain target. They then taper off knowing that their trainee has learned the skills and capabilities to handle that business situation in the future.

 

Business Mentoring

Business mentoring is a professional relationship. It takes time, energy, commitment, and loyalty. By creating a supportive environment, they aim to inspire confidence when navigating the complexities of the business world. They are invested in your personal journey. They want to develop you as a whole person. Unlocking your business and personal potential. Business mentoring is about the transference of knowledge, expertise, and experience between mentor and mentee.

 

 

What do you need? A business coach or business mentor?

If you wish to fully flourish as a business leader, owner and or operator the answer would be both. There are similarities between the two but they have distinct differences. Business mentors are more nurturing than business coaches. They are supportive, encouraging and aim to instill character traits within their mentee, such as confidence, to maximise their business and personal potential. It is a long-term investment that aspires commitment and loyalty.

 

Business coaching is more tangible. There is a process, a structure, a ‘training’ schedule. Your coach will identify your business needs and the skills and capabilities associated with those needs. Goals and objectives will be identified. You will then be coached in order to improve your skills, competencies, and performance with regards to the identified goals and objectives. It’s a short-lived relationship. Once you have learned that skill and met that goal, you can apply it to future business situations and start to focus on a new business endeavor.

 

Business coaching + business mentoring = flourishing business

At Fitzpatrick Group it’s more than just business planning. It’s more than learning the skills to enhance your performances. It’s more than applying strategic thinking and innovative business analysis tools to develop action plans unique to your business. It’s about aspiring confidence so you can make educated business decisions. It’s about aligning your business and personal goals. It’s about unleashing your business and personal potential.

Check out another recent blog in this category.

Rick Fitzpatrick is the founding director of Fitzpatrick Group. Rick is a Certified Practising Accountant (CPA), Chartered Accountant (CA), Registered Company Auditor, Registered Tax Agent and Certified Business Coach. Authour • Rick Fitzpatrick

Director and Founder, Fitzpatrick Group

Post Categories: Small Business

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