Consulting and Coaching: Which Do You Need for Business Growth and Strategy?

Whether your business is small, medium-sized or large, there’s still room for growth. As a business owner, you’re likely to know exactly where your business is lacking and where it could do better. Maybe you’ve even tried to come up with long-term strategies that will address this lack. It’s always a good idea to end the year with an annual report in which you come up with ideas that you could put into practice during the next calendar year. However, keep in mind that you don’t have to address all your business issues in-house. You can also get consulting or coaching to help your business do better.

Consulting

Consultants come in many fields—sales, marketing, accounting, IT, strategy etc. A consultant is someone who works with a number of companies but is not attached to any one. Hiring a consultant often makes sense in a small business if you don’t need someone in that department to work full time. For example, maybe you need a marketing campaign but you don’t want to hire a full-time marketing person. In such cases, it makes sense to work with a consultant who can come up with a marketing campaign for you as and when needed.

Consultants are usually very experienced in their fields because they’ve worked with a number of companies. Once a consultant understands what you’re looking for, they can work independently, without too much supervision.

Coaching

Whereas consulting solves your short-term problem by giving you the expertise you need in a certain field, coaching is something that can lead to long-term success for you and your business. A business coach can work with you independently or with a group of your employees. Coaches are a great help when it comes to problems such as motivation, procrastination, time management, managing relationships within the workplace, manifesting your goals and dreams etc.

A coach can help you clarify your vision for your business. They can also help you to empathise with others and be a good leader. Brené Brown, a well-known coach with a viral TED talk and several book deals, emphasizes the need to be vulnerable in everything you do, even though vulnerability is not necessarily a quality that is associated with the workplace.

Coaches bring a more general approach to business; their ideas and techniques can be used by anyone who wants to improve their work productivity and live a more fulfilled life.

Do You Need a Consultant or a Coach?

Both, consulting and coaching have an important role to play in business development. It’s important to think about exactly where your business is at and then decide whether you need consulting or coaching. If you’re in need of expertise in one field of business, then consulting may be a better idea, but if you want to expand your business vision, be a better leader or feel more fulfilled at work, then coaching might be the right fit.