Business Consulting Versus Business Coaching

Many businesses are turning to business consultants or business coaches for aid as the problems and uncertainties of doing business in the COVID-19 age rise. You can seek a career as a coach or consultant to assist businesses improve their performance and achieve their goals if you have business knowledge and experience.

You have the option to start your own business as a coach or consultant, with the freedom to set your own schedules, choose the customers you want to work with, and apply your knowledge to assist other businesses flourish.

What is the difference between a consultant and a business coach? Which job do you think you'd be best suited for? Well, let’s find out here.

What does a business consultant do?

Professionals that specialize in a specific area of business are known as business consultants. They will examine a company's systems, procedures, and people resources in order to find inefficiencies and devise methods to assist it achieve its objectives.

When a company hires a consultant, they usually bring their own processes or frameworks to help it reach its objectives more effectively and efficiently. They will identify tasks that need to be completed in order to meet the company's goals, and they may even work on behalf of clients to finish projects.

In most cases, businesses would hire a business consultant with specialized knowledge to assist them in resolving business issues and weaknesses. Business consultants are also called in to assist companies with team and morale building, and change management after a merger or acquisition.

What is the role of a business coach?

A business coach assists business owners in clarifying their vision for their company and then planning and prioritizing the goals and strategies required to move their company closer to that vision. A good business coach focuses on assisting clients in increasing the profitability, efficiency, and overall success of their businesses.

Business coaching is defined by the International Coaching Federation as "partnering with clients in a thought-provoking and creative process that inspires them to maximize their personal and professional potential." Business coaching is a distinct service that is not to be confused with therapy, consulting, mentoring, or training."

Business owners hire a coach because they want someone to show them a tried-and-true path and to provide them with the steps and guidance they need to grow their company. A business coach meets with the business owner regularly to keep them on track to the commitments they made in their coaching sessions.

Business Consulting versus Business Coaching

A key distinction between a business consultant and a business coach is that a coach fosters and inspires accountability. They will assist their clients in defining their business vision, setting goals to move their business and themselves towards that vision, and tracking their progress. They will not, however, do the work for them. Every action that needs to be taken is held accountable for business owners. A coach and a business owner work very closely together. The procedure is open and clear.

Business consultants will identify areas for improvement, recommend solutions to problems, and develop an action plan to guide the company in meeting its goals in a specific area, such as marketing, human resources, or digital transformation.

Consultants may fill skill gaps in an organization on specific projects, or they may provide management consulting to supplement and support an in-house team. They may even take action on some of the tasks, but they will not hold the company or its employees accountable for completing those tasks.

Which one is right for you?

The decision to become a business coach or a business consultant is influenced by several factors, including your level of experience, specialization, qualifications, personality, and, most importantly, how you see yourself working with clients.

So, Where do you get the most ticks?

Business Coach

Sees the bigger picture
Enjoy mentoring and guiding others
Experience in running or managing a business
Help business owners to look for and create solutions to their problems
Focuses on the individual
Places value in building long term relationships
Helps business owners to achieve both professional and personal goals
Highly collaborative approach
Time to develop clients’ IP

Business Consultant

Business Consultant
Specialist in a specific field
Detail oriented
Teach or train people in skills they do not have
Experience in a specific aspect of business
Identify problems and recommend solutions
Focuses on systems, processes and teams
Short term projects and contracts
Focuses on remedying a specific problem or business objective
Consultative approach
In and out depending on terms and requirements of the project

Business coaching is for you ...

You want to help others grow. Business coaching is about helping others succeed in their business. In return, your business will succeed. It also requires patience, empathy, diligence, and work. What you put in, you go out. But the biggest reward is to see your customers realize their dreams. To be a good business coach, you need to:

Business savvy
Active listeners
Passionate about people
Powerful communicator
Goal-oriented and organized
Accessible and friendly
Disciplined
Strategic and analytical
Good motive
Start strong

By participating in an established and recognized coaching franchise, network, or franchise, you can gain the value and credibility that accompanies it. The more well-known the associated brand is, the greater the benefits in terms of recognition and credibility.