Last week we began a series of articles on the common misconceptions surrounding the Business Coaching and Consulting industry and we continue today with:
Misconception # 3: Business Coaching and Business Consulting are the same
This is a HUGE misconception because they are definitely NOT the same.
Lamentably the general business community (and some coaches/consultants) use the terms interchangeably. However, in my view all this does is serve to perpetuate the mismatch of expectations between coaches/consultants and their clients.
Let me explain:
Business coaching is all about providing a structured approach to addressing properly diagnosed issues concerning the business.
In order to ascertain the issues the right coach will ask many questions
and perhaps may even undertake a formal business diagnostic process to determine the issues and their importance/priority before beginning “treatment”. This is important, because using a medical analogy,
“prognosis without diagnosis is malpractice.”
Business coaching will provide a framework upon which the business owner can be held accountable and may involve use facilitation, training and mentoring techniques.
Importantly, the aim of business coaching should be that the business owner learns through the process of doing and being coached – just as an Olympic swimmer will learn and improve their technique and personal best “PB” by following the coach’s instruction. An Olympic swimmer is not an Olympic swimmer the first time they enter the pool and they would be the first to tell you how invaluable their coach was/is to them achieving the Olympic dreams and goals.
The same applies in business. That is, through the business coaching process there is an opportunity for valuable intellectual property (IP) to be imparted to the business owner which they can retain and reuse when the business coach is no longer working with their business. This means that the investment in the business coaching can be amortized over many years to come.
Meanwhile …
Business Consulting in its purest form is about the client providing the consultant with a brief which the consultant may research or validate further before going away with the business owner’s authority to implement, review and evaluate certain “solutions” into the business. There is usually little or no transfer of IP to the business owner and their team. Rather, a solution is provided to a diagnosed problem – thank you very much.
When consultant is no longer around, or if other related issues come up, the consultant will need to be called upon to “fix” these as they occur, since the business owner and their team will not (since no IP was transferred) have the skills, knowledge or inclination to do so for themselves.
The investment required will be different than if you were seeking a business coach, because consulting requires more intensive resource allocation from the consulting firm.
That said, let me be plain, there is no one right methodology. Different companies have different needs.
Yet it is super important to realise the differences otherwise there will be mismatched expectations and inevitable, yet unnecessary, conflict between coach or consultant and client.
Misconception # 4: If I use a business coach/consultant that means something is wrong with me, or my business
Nothing could be further from the truth.
In fact more and more of the clients The Right Team and The Results In Business Institute network across Australia and New Zealand service are recognising that the business owner rarely brings the multiple skills set of management required to run a truly successful operation and maximise their return on investment.
Skills such as marketing and sales seldom come easily to administrators and manufacturers and vice versa, while cost control, administration, productivity and personnel management are specialist needs which a good business coach will be able to assist with.
In fact in the 21st century it is companies that are already successful in their industry and who want to maintain their success or competitive edge or indeed take their company to the next level, that are recognising the value of having the right business coach or consultant work alongside them. Indeed, their business coach or consultant is one of their trusted advisers, just like their accountant and lawyer.
In fact, according to the Australian Institute of Management (quoted on Inside Business TV program in July 2005) seventy per cent of its member companies hire coaches.
Is your business one of the 70%? If not why not?
Are you perhaps missing out on an awesome opportunity to further leverage your time and money through accessing external expertise as you need it? Food for thought eh!
Join Our Team – calling for Expressions of Interest
We are continuing to expand and are looking for quality people to join our team.
You can work from home or existing commercial space (your choice).
A range of opportunities exist to suit different people and their circumstances. Some require little or no investment while others require an investment.
If you:
• Are looking for a change of career (by choice or as a result of redundancy)
• Feel tired of others looking at you as if you have reached your use by date
• Wish to make a worthwhile contribution to the SME business community in Australia, New Zealand or North America
• Have middle to senior management experience and want to leverage the skills you already have (and learn new ones)
• Are a young person with big dreams/aspirations and want a vehicle that can help you reach them AND you are willing to learn new skills
• OR are a person of unquestioned integrity and ethics (we will do background checks)
• Are accustomed to earning between $100,000 p.a. through to $300,000 p.a. (and more) or believe you are worth this and are willing to prove it!
Then drop me a line with your name, contact details and your resume in the first instance and I will be in touch for an initial confidential chat.
PS: If this profile does not fit you, then perhaps you know someone it does. Why not do them a favour and forward them this article. | 
