Business Coaching in Melbourne

Creative Entrepreneur P.O. Box 732, North Melbourne, 3052, Victoria, Australia, Creative Entrepreneur P.O. Box 732, Nor 3052
0408 510 378
Federico Re

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 !