When you’re just starting out in business, it can be difficult to know where to turn for help and guidance. Business mentors and business coaches have the potential to be huge assets in your success story—but what’s the difference between the two? Which one do you need more? How do you choose between them? Here are some tips to help you find what works best for you!

What is business coaching?

You may wonder what business coaching is, what it does and how it benefits your small business. Small business coaching helps a small business owner identify the resources available to them, develop plans to implement those plans, and grow in areas that they may not have considered before. Business coaches help people like you increase your confidence, sharpen your skills or simply get unstuck in life.

What are the benefits of working with a coach?

• Increased confidence
• Ideas on where to go from here
• Solutions to problems you may not have thought of
• A sense of safety as if you’re being guided through tough decisions
• A plan for tackling projects that overwhelm you.

What is mentoring?

Mentoring is when a more experienced person offers knowledge and guidance to a less experienced person. It often takes place in an informal, non-directive setting. The mentor provides different sources of information and insight to the mentee, who gets to choose what they want to work on or learn about. The idea behind this form of coaching is that it will help the mentee develop their skillset over time and provide them with the tools they need to succeed in the future. Unlike mentorships, where the roles are typically reversed in age, small business coaches are typically peers to their clients. They also offer formalized services like one-on-one meetings as well as group training workshops (e.g., social media marketing). A coach can also serve as a role model and mirror self-reflective thoughts back onto your client.

What are the differences between business coaching and mentoring?

One of the main differences between business coaching and mentoring is the type of business that you are in. Business coaching focuses on a general overview of what you’re doing, whereas mentoring specializes in a specific industry. Other differences include how many sessions are offered, whether it is one-on-one or group sessions, and the cost of each session. The benefits of both depend on what you’re looking for, but we believe small business coaching will help you grow as a company by getting your wheels turning with practical advice that can be applied immediately to any company at any stage.

Which one should you choose?

Small business coaching and mentoring are both forms of business guidance. Business coaching and mentoring help entrepreneurs take their idea from conception to execution, offering different benefits in terms of expertise. However, it’s important to note that small business coaching tends to be more hands-on. If you’re looking for a business coach, here are some questions to ask before hiring one:

• Do you need someone who will give you feedback on your ideas or do you want somebody who will guide your marketing strategy?
• Do you want a coach who will advise your team or do you need someone with experience managing teams?
• Are they available when needed and how much can they work with your schedule?
• How often should they check in with you and what are their rates like?