mentor

Mentor vs. Coach – What’s the Difference and Which do I Need?

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Whether you are stuck in a rut or crushing your goals – having a mentor or coach who helps you with your personal development can be a game-changer. The first step of course is finding someone you are comfortable talking to – but how do you know if you need a mentor or a coach – and what the heck is the difference?

A mentor or coach can support your drive for greater self-esteem, problem-solving skills, and enhanced confidence in managing challenges, especially in uncomfortable situations. But they really aren’t the same.

Mentoring is defined as “A process of direct transfer of experience and knowledge from one person to another”. We often think of a mentor as a seasoned professional who provides guidance and direction to a mentee—usually a junior–level person with similar interests who may aspire to the position of the mentor. The mentor has already achieved success within the industry and is voluntarily sharing their expertise with a colleague. This doesn’t just apply to the corporate world, if you are starting your own business, you may find a mentor who took a similar path to what you want to take or who is already in the industry you plan to work in. Mentors typically aren’t paid; they volunteer their time to help mentor others.

Coaching is defined as “A method of achieving set goals. A coach helps their clients achieve specific, immediate goals as defined by the organization or the client”. If you are an employee, your company may hire a coach to help you, but as an entrepreneur, you may hire a coach to help you with a specific goal or skill. You may hire a coach to help you launch a business, write a book, improve on your social media or writing skills, etc. Coaches are paid for their work because it’s their job – their main business is coaching others.

Key differentiators

Relationship: Mentoring is oriented around relationships – yes, you might focus on learning things and improving competencies, but over time it becomes more about the bond and rapport you develop vs. business issues.

Coaching is more task-oriented. A coach is there to help you become more proficient in certain areas or skills you are lacking – for example if you suck at doing presentations, you might hire a public speaking coach.

Drivers: Mentors are development-driven, focusing on the future by sharing their past experiences and what they learned to help the mentee.

Coaches are performance-driven, focusing on the present, and improving or acquiring new skills that can be used immediately.

Duration: Mentoring doesn’t usually have an end date; it’s understood that there is a significant time commitment from both parties as you move from acquaintances to building a strong fellowship – mentoring can last years or even decades.

Coaching typically has a defined end date. You set a specific schedule to meet and it ends when the trainee masters the skills or goal that’s been defined. Of course, you can keep adding new goals to work on, but there is a defined start and end for each commitment.

Key take-a-ways:

  • Mentoring is a long-term process based on mutual trust and respect. Coaching, on the other hand, is for a short period of time.
  • Mentoring is more focused on creating an informal association between the mentor and mentee, whereas coaching follows a more structured and formal approach.
  • A business mentor has the first-hand experience of the mentee’s line of work. A business coach, however, does not need to have a hands-on experience of the kind of work the coachee is engaged in.
  • The topmost priority of a business mentor is to help develop skills that are not just relevant for the mentees in their present job, but also for the future. For a business coach, the biggest priority is to improve performance that impacts the present job.

Need help finding a mentor? Did you know that there are actually 8 levels of mentorship – check out this cool article on how to find a mentor? Finding the right business coach requires some legwork as well, here are 16 tips to help you find the right fit.

Now that you understand the difference, go forth, and find your new coach or mentor. Thinking of starting your own business or need some coaching in marketing, sales, or operations –  we may be able to help!

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improve sales

Improve your sales skills even if you aren’t in sales

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Sales, regardless if you are an actual salesperson or not, is just part of life and your career. Sales doesn’t always mean selling a product or service to a customer, in fact, you are probably giving sales pitches just about every day. That’s right, every time you pitch an idea, make a suggestion, or even go on a job interview, you are “pitching” yourself. So how can you improve your sales skills if you don’t pitch people often?

First off, selling kinda has a bad rap. You typically think of a sleazy used car salesperson, telemarketer, or door to door salesperson. But if you think about it, sales is really the most fundamental life skill. People think sales is pushing someone to buy something they don’t need, want, or can afford. But really, sales is moving someone to take action. And if you think about everything you did today, I’d bet quite a few of your actions involved selling. Am I right?

People are often uncomfortable with sales because they 1. Don’t understand it and 2. Can’t get past the used car salesman cliché. Selling is all about persuading, inspiring, and leading. It’s about collaboration and driving change. The best salespeople make you feel like the sale was your idea. Why? Because you trusted them, they had a genuine interest in your problem, they provided a solution that they knew would fix your problem. You wanted to buy from them.

People often buy for 2 reasons, to gain pleasure or avoid pain. Your job is to figure out which one it is. Sales really is about networking and listening to your customers. Find out who the decision-makers are, learn as much about them ahead of time as you can. When you talk to them take an empathic approach, one that focuses on understanding the other person and what they need. Serve, not sell.

What do the best salespeople have in common? They plan and practice. You wouldn’t show up to a golf tournament and expect to win having never swung a golf club in your life, right? The best in the biz have mentors and coaches who help them practice and make sure their conversation flows – they help them improve their delivery. Practice on friends, peers, coworkers, family, etc. until you get your pitch just right.

Making your “pitch” can be very nerve-wracking at times, but even with all that adrenaline flowing, it’s important to stay calm and not ramble. People don’t want to listen to someone drone on and on about how great something is. Selling should be a conversation, not a lecture.

A good salesperson knows when to fold ‘em and when to walk away. Yes, the late, great Kenny Rogers knew what he was talking about. Most salespeople hear no at least a few times before they make a sale, but they know when to press on, because that no is really a “not yet”, and when to throw in the towel. They are flexible and understand the path that their customer has to take in order to move forward.

Sales is a numbers game – it’s highly possible you will fail more than you succeed. However, it’s important that you don’t quit. You need courage and to always remember the long game. Sales is never rarely a one and done deal, and most times it’s actually not about you. If a customer is happy where they, they won’t get pleasure from buying and aren’t experiencing pain, then now is not the time. Check back in 3 months.

Have any great sales advice to add, we’d love to hear it! We also wrote a blog on increasing sales without a sales team, check it out.

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collaboration

Why Collaboration is EVERYTHING

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I learned very early in my career that finding a mentor is key to success – learn from others who have been down the path you want to go.  I also learned that being a mentor to others is not only gratifying it’s important to the success life cycle. So what does that have to do with collaboration?

 The Cycle

You don’t need to reinvent wheels – you simply need to take the design of the wheel, the research already done on the effectiveness of the wheel – and put your own spin on it.  The magic happens when that original wheel inventor actually learns a thing or two from you and your new spins on his/her design.

This is called Collaboration.  In the process of gathering intel and learning you are SHARING your wisdom in return.  The cycle of success keeps moving and growing the more you collaborate, learn and share. 

Starting

  • The secret to mastering the success life cycle is knowing who to collaborate with. It begins with YOU.  You must clearly define what you want, where you want to go and what you want to be.  Write them down.
  • Next you need to find others who have successfully achieved what you want. Social media is a perfect example of how this happens ALL THE TIME.  Want to run a marathon?  Head over to twitter, Facebook and Instagram and Google and search out expert marathoners. Become obsessed with learning everything they do from what they eat, how they train, how much they sleep and what they wear.  Adapt it to your lifestyle and go.  Ask questions, give feedback to others – soon you will be the expert and sharing your stories to help others!
  • Consider IRL collaborations. Meeting people face to face or IN REAL LIFE trumps online connections 90% of the time – if you are very intentional who you are connecting with.  It’s all about having a solid support system – the inner circle of folks who you deeply trust and feel comfortable sharing with.
  • Let go of your ego. Being a newbie or a learner is not a sign of weakness, nor is being a mentor to others a sign of superiority.  This is about collaboration and serving.  Egos should be checked at the door.

If you want to win the long game – don’t do it solo.  Know success is a journey – there will be ups and downs, having a support system will get you to the finish line a hell of a lot quicker than going solo.

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The Post Retirement Entrepreneur

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“I’m ready to retire, but not ready to stop working, stop using my brain, stop… doing.”

When you have spent most of your life in Corporate America – leading teams, driving change, mentoring generations – retiring to Boca or moving to the Villages isn’t always an easy transition for some.

In fact, many recent retired execs I speak with feel lost but, more importantly, feel the need to take what they’ve learned and do something meaningful with it – they want to leave a legacy, they want to make a difference.  This mindset often results in joining a board, volunteering, or even opening their own company and working as a consultant or coach OR all the above.

It all makes sense.  Many retirees live 20-30 years post retirement and if they truly loved their career why not continue working and giving back, sharing knowledge, and padding the “fun fund” while they’re at it.

Here are some interesting facts I’ve discovered about my fellow Boomers who are opting to be entrepreneurs for the first time. (note this is based on my personal connections – not some deep market research!)

  1. It’s not about the money – it’s about the meaning, the mission, and the legacy.
  2. Speaking of money – most don’t NEED to match their corporate salary, in fact, most shoot for 50-100K per year.
  3. Most opt for service-based industries – such as coaches or consultants because the startup cost is not huge and the transition is seamless. They aren’t learning new skill sets.  YET – some opt to go in a completely NEW direction including retail.
  4. More often than not – they prefer to go solo. No employees but bringing in contract workers if needed since many managed large teams for decades.  “Been there done that” is the mantra.
  5. Flexibility is important. They don’t want stress, they want to work when they want and vacation when they want.  They are “retired” after all.
  6. If they are consultants – they are insanely picky about who they will work with. It goes back to enjoying the journey not building an empire.

If you are approaching the magical sixties and aren’t really ready for retirement, but are ready to exit your current job – perhaps entrepreneur life is for you.

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