Episode 15 Coaching Versus Mentoring Gain Astonishing Results. M&S Monthly Podcast Show

Coaching Versus Mentoring What is the difference? And, Why you should make a coach your first recruit.

Coaching Versus Mentoring – How The Two Differ

Coaching versus mentoring, a coach asks the coachee the questions whereas the mentee ask the mentor the questions. This is the difference between a coach and a mentor. If you are looking for a coach, make sure you have a connection with the person and preferably choose a coach that has already travelled the journey of the path you want to take. 

This can fast-track your journey to success and avoid extremely costly mistakes in the early stages. No one when starting out in business knows all the pitfalls that are likely, so it is important to take on the support and help of others. 

Your First Member Of Staff

On today’s podcast we are exploring the many options open to us when looking out for help, in the start up phase and when you become more established. There is an argument that suggests, it is better to take on a coach or mentor before you take on your first member of staff. 

This would be a new way of thinking for many entrepreneurs starting out on their business journey and although it is an additional cost to the business, this approach needs to be considered to avoid employing the wrong member of staff and quite possibly.

The first member may not even be needed at the point and there may be a better source to get the work down by outsourcing the work. 

Camden Is a Mysterious Mistress

Depending on the project to be completed, you may find a site like www.fiverr.com a reliable source saving on costly employment mistakes. You must make sure you keep your cost base to a minimum in the early days of starting up 

Scale-Up Institute Report

Three out of four business startups fail in the first 4 years of starting so it is important to stack the odds in your favour by asking for help in the early days. Did you know, there have been more start-ups in the past 6 months than any other time in history, and according to the UK ScaleUp Institute published a report in 2019.

You can read it here: Scaleup Review 2019 the institute defined that a scale-up business had growth of 20% or more in a year. They also concluded in the report that all businesses growing by 20% or more had a coach or a mentor or both and this was a consistent factor to get external help and support.

Getting Help When Needed

Coaching Versus Mentoring, The help needed can come in many formats, a coach, a mentor, or a peer group of other like-minded business people who may face the same struggles. Or reading material directly linked to your chosen business or philosophy.

The overall cost may be lower, although, it will not be on a one to one basis, it can potentially provide the support all startups and even long-established businesses may need. Just remember, be open-minded and look for groups that work for you, not only on a business basis, you may find they can support you from a person more emotional perspective.

Many entrepreneurs struggle with loneliness in the early days, it can be extremely distracting when there is no one to call on, sometimes just for a chat over coffee or even a walk and talk in a local park nearby. The key message, to not be afraid to ask for help, it is amazing how much help is available when you start looking.

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This podcast has been sponsored by www.TeamEasyCrane.co.uk we help you build your very own business.

About Michael

Michael Crane

Entrepreneur, Business Owner, Presenter

Michael has built and runs a successful business for the last twenty years. He’s learned many lessons—some of them the hard way—and he’s met and talked with many other businesspeople. He’s sold thousands of products and learnt the one hundred and one things needed to run a thriving business. Now he’s bringing this knowledge and experience to educate, motivate and inspire other entrepreneurs.