Business Coaching in Melbourne
Business
Coach, Business Mentor, Business Consultant …. What’s the difference and who do
I really need ?
Nowadays, there are so many terms to
describe a ‘business expert’ – someone who essentially provides a service to a
business to help them start or grow an enterprise.
This term may relate to a micro business, a
startup and entrepreneurial enterprise, a small or medium business, and even a
large organisation. Such terms include ‘business
coach’, ‘business mentor’, ‘business advisor’, ‘business consultant’, ‘business
development expert’, ‘business planning expert’, and the list goes on.
Personally, I think all terms interrelate
with each other, and the distinction between these words or professions is not
really that critical to differentiate, or for a business owner to know the
difference. Rather, it’s vital that the
person offering business advice in a specific area (eg. business coaching or
whatever it may be), has had a high level of relevant experience in running an
operation of their own, which can be demonstrated with many years of ‘hard
knocks’.
There is a big difference between someone
with practical / hands-on experience in business building, versus someone who
has just stepped out of university and has simply acquired a fancy and
prestigious business qualifications like an MBA, and casually labels themselves
a ‘business expert’. Despite them possessing the theoretical knowledge of
business building, business planning, etc, do they really know the complexities
of a cash-tight business; one that is in a very competitive market; or one
where the business owners are not aligned with their thoughts and cannot agree
on any fundamental decision. My simple point is that ‘business theory’ is quite
different to ‘business practice’. So
what is more important?
After being in business for nearly 25
years, having worn many different hats including being a business coach, an
entrepreneurship coach, a business coach and mentor, a business development
expert, and even an executive / leadership coach, I’ve learnt that experience
and wisdom is not something you can buy off the shelf, or fast-track, but
rather acquire over the course of time.
Over the years, I’ve come across many young
/ inexperienced academics or those who have just entered the workforce, and
have labelled themselves ‘business gurus’, or whatever fancy term they conjure. Often these people offer unrealistic promises
of ‘exponential sales growth’, ‘rapid business transformation’, aggressive
market penetration, new-age influencer marketing, or whatever goal their client
may have on their wish-list.
Below are two scenarios where a so called ‘business
expert’ or business coach, may fail to provide the correct or relevant level of
assistance long term to a client. There are many causes to this problem, and
may be due to irrelevant business expertise; they possess limited business
development experience; have never had a start-up business themselves, and never
actually experienced the hard-knocks and pain of starting and running a small
business; or simply they have an overly inflated ego !