Business ownership can be very isolating. You might have all these big hairy goals that you want to make happen, but it’s difficult to know how to get there. You might benefit from working with a mentor or coach that’ll help you move your business to the next level. What’s the difference between each, and how do you go about getting one?
A mentor stems from a strong relationship.
The best mentor-mentee relationships stem naturally from a work or personal relationship. This may a work colleague or boss that you had in a previous job. Or, that industry peer that is always looking out for you. If you start to think about all the people that have impacted your professional career, you’re likely to find someone that is already in that mentor role, or close to it.
In spite of a lot of ‘mentorship programs’ popping up around entrepreneurial circles, a traditional mentor is someone that guides you because they want to see the best for you. Traditionally, a mentor is NOT paid. (Those ‘mentorship programs’ are better described as coaching programs, which I’ll get into next.)
What does a mentor do?
Because this relationship should be natural, a mentor is typically looking out for you because they have an inborn interest in your success. In other words: they like you! However, it’s important for you as the mentee to be moving the needle forward. Invite your mentor to lunch. Share your goals and aspirations with them. Because of their vested interest, they will likely advise you on how to move forward in your business.
Mentors like to know that you are going places with the advice and support they are offering you. A good practice is to check in with your mentor frequently and update them on your progress. Share with them your good news and it’ll fuel them to do more to help you out. Mentors love to feel utilized for their knowledge. If you nurture your relationship with them, they will continue love on you and your business.
Hire a coach for their guidance and advisement.
You hire a coach because you want them to help guide you towards your potential. Each coach will have a different style. Some will act as a consultant to provide you with the best solutions to your challenges. Others are similar to a business therapist in that they listen to what you want, and try to steer YOU towards making your own decisions.
What will a coach help me with?
Coaches have all different focuses and skillsets. Therefore, you want to think about your biggest challenges and goals before searching for a coach. Where do you need help? What do you hope to achieve from working with a coach?
Your coach will guide you in the format that they deem is best for their clients. But, it’s helpful to go in thinking a little bit about your expectations to see if they’ll be a fit. How often do you want to meet? How much structure do you want? Are they available between meetings for phone calls or email?
Which do I need: a mentor or coach?
It’s not unusual to seek out advice from BOTH of these magical beings, as the benefits to your business are incredibly valuable. A good idea is to circle back with all of your personal and professional relationships. Create a list of people who are your cheerleaders. Chances are, you’ll find a mentor among them. As for coaches, there is no shortage of awesome coaches these days. Your best bet is to ask other small business owners who they recommend. And, then interview a few to see if they match your personality, your style of working, and have the experience to help you tackle your specific need.
Michelle Loretta is a business consultant and financial strategist for wedding and event professionals. As founder of Sage Wedding Pros she blends her past as an accountant for Deloitte, a sales and marketing manager for DDLA, a merchandiser for Coach, and a stationery entrepreneur to strengthen wedding businesses worldwide. Sage Wedding Pros is best known for Be Sage Conference, a summit for master-level wedding professionals. Michelle has been asked to speak at a number of industry conferences, including NACE Experience, Biz Bash Live, and The Special Event.