Let’s set the scene: you’re an executive that’s six months into your role as the CEO of a technology company. A major part of your responsibility is shepherding your new company through a merger within the next 6-9 months.
You don’t want to admit it, but so much needs to be put in place—and you don’t know where to begin. And, everyone on your leadership team seems to be looking to you for all the answers (wait…isn’t that why they’re on your leadership team?). You need advice, and fast.
In consulting your peers, everyone one of them says, “hire a consultant,” “start working with a coach,” or “check in with your mentor.” Your peers are smart people—and they’re absolutely right—working with a consultant, coach, or mentor will be the way forward. But what’s the difference in what these roles provide, and how do you know when it makes sense to work with one over the other?
A consultant is an expert you hire to solve a specific problem/deliver a specific solution
Consultants are experts who either have formal qualifications when it comes to a type of work, or direct experience carrying out that work for other organizations. They can help you complete time-specific projects that you need to get done, but don’t have the time, brain space, or expertise to get done yourself. In the case of our CEO example, you might hire an M&A consultant to hone your strategy and objectives, develop the internal team that will be responsible for the merger, and build a repeatable process you can use for future opportunities.
Hiring a consultant is also key because they’re able to come in and be a trusted thought partner by giving an outside perspective. When you bring in a consultant in this capacity, you’re involved in defining the scope of the consulting work and reviewing the work—but most of the time you’re not playing an active part in the work of the solution itself. However, you do make the decision on whether the work was completed and the problem solved. A coach works with individuals to reach a specific goal or desired situation
The act of coaching is an individually-tailored one, as the relationship is often one-on-one and more personal. Contrary to the work of a consultant, a coach doesn’t solve their client’s problems by presenting them with a solution. Instead, a coach stimulates discussion based on their client's strengths and resources.
As an Executive Coach, I help my clients discover—or uncover—their own answers. We hold our clients as naturally creative, resourceful, and whole people—there is nothing “wrong” with them because they are seeking coaching. I see my role as helping leaders understand their current competencies and focus on identifying and clarifying their values and goals so they can live their best lives—both professionally and personally. Working with a coach helps you approach challenges with clarity.
To carry our example forward, coaching has little to do with handling the merger itself—and everything to do with supporting you as the CEO through the merger. It’s about the person, not the problem.
A mentor is a trusted advisor who’s been where you are today
Mentors have almost always “been there” and “done that.” They act as a guide for a mentee, and it’s usually a person who’s been on the same career path as you or has the job you want. To round out our example, you might have a mentor who’s currently a CEO at a larger or more established financial services organization.
Strong mentor/mentee relationships are built on two important things: knowledge transfer (usually from the mentor to the mentee) and being a sounding board (usually from the mentee to the mentor). Having a mentor can increase your confidence, help you become a better problem-solver, and can boost your emotional health—when you don’t feel like you’re out there on your own, you feel better, right?
When should you consider working with a consultant, coach, or mentor?
Here’s my personal cheat sheet:
Consider working with a consultant when:
There’s a knowledge gap in your organization
You’re looking for a fresh, unbiased, and outside opinion
You know you have an issue, but you don’t have the time or the resources within the organization to solve the problem, or
You know you have an issue, but aren’t sure what’s causing it. (Consultants aren’t involved in your company’s politics—we’re unbiased—which means a good one can sniff out the issue pretty quickly.)
A coach is in order when you’re looking for a long-term guide for making a shift in your leadership and life, but need some accountability and support.
And, there’s no right or wrong time to have a mentor in your life. No matter where you are in your career or business owner journey, they’re always value to mentorship. They’ve walked the walk, and if they’re in the same organization, they can help you navigate the politics and culture, helping you learn the ropes faster.
Here’s the truth: we were not put on this earth to go solve our challenges alone.
And, that goes for leaders, too. There is massive ROI when the investment is in yourself or your organization. Working with each of these roles can create the shift or transformation you’re looking for. And if you’re specifically looking for a consultant or coach, let’s chat.
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