Most businesses are started by driven people with developed skills and a passion for their expertise. Others find a gap in the market and create a solution to the problem. They believe in a product or concept and work hard to bring this to life.
The decision to start a business varies from person to person, but their desire to succeed is driven by one of the following 4 key drivers.
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- Motivated by their Passion.
Passion is a powerful force. It’s what gets us up out of bed each day doing the things we love and striving to be better. This could be a skill, a particular industry, a product or a service. They see that their concept will help their target market and are driven to take ownership and develop a business around this.
2. Flexibility and Work-Life Balance.
Working for corporations or businesses sometimes lacks flexibility. You can work additional hours one day then 5 mins late the next morning and be crucified for it. You may volunteer, look after elderly parents or a young family and want more flexibility. Having your own business is tough and can mean additional hours, but it is on your terms.
3. Ambition for leadership.
Working for corporations or other businesses can mean that your ideas go unheard. They have a desire for more control over their work environment, the decisions and the direction of the business.
4. Desire to make a difference
People are motivated to make a difference in their community or have a positive impact on the world. They have strong values and feel a sense of achievement from making a change for the better.
When researching the small business survival statistics, the results are alarming. Around 50% of businesses fail before they reach their 5th birthday. There are many reasons businesses fail, but your success rate can be improved by working with a business coach or business consultant.
Seeking the advice from a business coach or business consultant is a smart business decision. Their skills and experience fill a knowledge gap that when partnered with you is a powerful force that propels your business growth.
There are many different areas that a business coach or business consultant can help you with. From building your business foundations, efficiency improvements, business planning, sales process, marketing, growth improvement, financial management, strategies and more. They are often confused as being one of the same, but it is there approach that sets them apart.
What is the different between a business coach and a business consultant?
A Business Coach
Business coaches typically work with one or more individuals within an organisation. Their techniques focus on shifting mindsets to achieve a specific personal or professional goal. The purpose is so you come to the realisation of the problems, bad habits and behaviours that might be blocking business performance. They ask questions rather than provide solutions.
The benefit is that you break the bad habits holding you back and gain the ability to identify them before they become problems in the future. Once the habits are broken you can focus on the positive and grow your business.
A Business Consultant
Business consultants work in collaboration with owners, the leadership team, or employees to solve problems. They have often been in similar positions and can help solve problems through their own experiences of how they’ve helped other clients. They listen and ask questions to learn as much as they can about your business. They need to understand the way you run your business, your uniqueness and what you believe in. This includes your business foundations, structure, processes, goals and your team. Once they understand your business and what you want to achieve, they identify and assess problems to provide solutions.
The benefit is that they focus on the problems. Once you are clear on your business’s identity, they use this to solve the problems, improve efficiency, productivity and grow your business.
Often business coaches and business consultants work in partnership with their clients as they are both relevant and can assist their clients in different ways.
Let’s take a look at how a coach and a consultant would work with a local football team.
A coach works with the individuals within the team by watching and providing advice on techniques. They would also assist by helping the team come together as one to increase the chances of winning. They don’t go out and play the game for the players, but they support and give feedback to improvement techniques and the result of the games.
A consultant will talk with management and coaches about how to structure the club and the teams. They may discuss how to attract more sponsors and how to get more people coming through the gate to watch the games. They will then go about building process and putting these plans into action working in conjunction with management and coaches. This will in turn strengthen the club’s financial position and longevity growing the club.
Which one should you choose to propel your business to success?
As in the football team example, there is no reason you need to choose. They are both relevant to support you to succeed in business. One helps you with your mindset and habits to be a stronger business owner. The other fills the gaps in your skills to solve problems and implement solutions.
If you decide that you only want to work with one or the other, then take some insights from this article. Think about the way you are as a person and the way you work. A business coach will discuss your feelings and mindset, while a business consultant will focus on the problems and provide solutions.
Want to find the best business coach?
Are you a business owner who is struggling to grow and looking for expert advice? We can help find the best business coaches matched to your specific needs. Click below and fill out the form and we will be in touch!
What’s Next?
As a business consultant with a financial background, I have helped clients gain the power over your competitors. Developing your business fundamentals such as your values, purpose, vision and mission is the first step to changing your business culture and cementing expectations. Use your fundamentals, along with a budget to devise a business plan as a road map to your vision. This highlights roadblocks to overcome which we work with clients to find and implement solutions. This increases staff retention, efficiency, productivity and cashflow helping you grow and achieve your goals.
Get started by downloading my FREE ebook How to run your business efficiently with less staff or book your FREE 30 min intro consult today.
