If the world didn’t have mentors or coaches, we wouldn’t have Apple, Microsoft or Karate Kid as we know them today. Steve Jobs mentored Zuckerberg, Bill Gates had Warren Buffet and of course, the Karate Kid had Mr Miyagi.
Both mentorship and coaching have their own benefits as well as some they share. Both will provide you with techniques to learn and grow, improve your business results, level up your growth and improve your business and interpersonal skills as well as your all-around individual performance.
While both share much of what they offer, there are some notable differences. The obvious is that Mentoring is usually free and Coaching is paid. But the differences extend far beyond just the investment.
Essentially, Coaching is performance-focused while mentoring is development focused but to make it super confusing but both have aspects of each. Let’s take a look into the benefits of both, so you can figure out which is most suited for your current needs.
“I pick Warren as somebody I have learned an immense amount from, just hearing his stories of how he dealt with tough situations, how he thought long-term, how he models the world. If you get a chance to spend time with people like that, it’s fantastic.”
Bill Gates
IMG Credit – https://www.stuff.co.nz/auckland/7927934/Meet-the-real-Mr-Miyagi
Mentoring: The Definition
A mentor is someone who shares their knowledge or experience to help another person to develop and grow.
I love the Karate Kid as a testament to the necessity of mentorship. For those who don’t know the story, Daniel LaRusso is a teenager bullied at school by a kid who knows martial arts. Turns out his apartment’s handyman, Mr Miyagi, is a kickass karate guru who becomes his karate mentor. Long story short, He teaches him to wax some shit on, some off and in the end, the karate kid wins using a technique he got from Mr Miagi. Heartwarming stuff.
Essentially, if the karate kid had never met Mr Miagi, he would have just been the Kid and got his ass kicked pretty effing bad.
“If I have seen further it is by standing on the shoulders of giants.”
Isaac Newton
In many senses, the same applies to business. I would argue that business is just as much (or maybe even more) of an ass-kicker than karate.
Mentors offer the knowledge only gained by the “been-there-done-that” experience. Usually providing support for the individual. They listen to the goals and vision of you an entrepreneur and provide advice on what is necessary for you to achieve them. They will share the wisdom from their own experiences to map out the path to achieve your own. They focus on personal and professional growth.
Coaching: The Definition
A coach is someone who employees a variety of strategies to provides guidance to a client on setting and reaching their goals.
Mentors are usually focused on the directive. Instructing, telling and giving advice. Coaching, While of course there is cross-over between the two, is usually focused on the non-directive and has a stronger focus on the day-to-day and big picture logistics of the business.
Business requires hard decisions, risks and strategy. A coach is instrumental in offering direction in making those decisions, mitigating those risks and offering advice on creating your business strategy.
A coach will with you to set and achieve goals in your professional journey. Taking the time to assess your desired outcomes and creating a roadmap of smaller goals in order to achieve the larger. This is especially important as Businesses Coaches are also useful for the big A. The big A, or lack thereof, often is the catalyst for major problem for entrepreneurs.
Accountability.
Running a business is very different to being employed by one. You do not have a boss to answer to or someone telling you what to do and when to doit. Which for many is the appeal, right? Problem is, that means we have to self-motivate and find other sources to keep us accountable. Coaches are a brilliant mechanism for just that.
Furthermore, coaches are brilliant for offering an external and fresh perspective. Building a business is often overwhelming and entrepreneurs have a tendency to get lost in the process. This makes it difficult to maintain consistent clarity because of the emotional attachment you have to your business. Your Coach will offer a non-emotive critical eye that will help to overcome those obstacles.
When deciding which is right for you, take the time to decide whether you are searching for insight and guidance from someone who has lived experience, or, if you are searching for trained professional to assist in your consistent business strategy and accountability. My recommendation is that you not only have both but you have numerous of each. As it is invaluable to have support as an entrepreneur from people with a variety of experiences and specialities.
If you are interested in either, CLS’s Founder and Managing Director Chrissy currently has a few spots available for both for the year ahead. You can pick from one off sessions, to monthly the choice is yours! You can find out more about how Chrissy can support you on your business journey here or by sending her a message via our contact page.