Is your company at a standstill or are you just turning your idea into a business? What is the best support for you?

While a lot of information is available online and through different associations, workshops, blogs and your network, if you are starting your business or looking to grow your business, you will save a lot of time and money reaching out to a business consultant or a business mentor that has the experience needed in your field in order for you to achieve the success you are looking for quicker.

So what exactly is the difference between a business mentor and a business consultant and what can you expect from each?

A business mentor is someone with years of experience who is knowledgeable in a specific area who helps guide a less experienced person in the expansion of their business. Business mentors can work complementary or charge a small fee.

In order to have a successful mentorship experience, the person receiving the mentorship should be willing to:
1. Share information about their business in detail.
2. Be ready to receive advice from a mentor and be open-minded.
3. Take the time to work on discussed business development in the discussed timeframe.
4. Be respectful of the mentor’s time and willingness to support you. Show up to planned meetings on time and do not reschedule. This is precious time.
5. Share progress and milestones.

The mentor should be willing to:
1. Dedicate enough time to be able to bounce ideas with you.
2. Offer you the best advice based on their experience without telling you what to do.
3. Motivate you to go further.
4. Challenge you.
5. Be there for you through your ups and downs.
6. Be honest with you if they feel you are doing something that can jeopardise your business.
7. Sign a NDA

A business consultant is someone that provides professional and expert advice in order to grow your business. From evaluating your current business module, to helping you improve it and bringing in new ideas to increase your market share and profit. Their services are usually paid per hour or per project.

A business consultant can work with you on:
1. An action plan to grow your business
2. Share precious advice and direction when you need guidance
3. Be a sounding board offering solutions when challenges arise
4. Share their extensive network
5. Be a trusted partner
6. Be a board member

Not sure which one is more beneficial for your business needs, contact us today!

Sabrina Polakoff is part of the talented group of mentors at Start it @KBC!  She works on mentoring entrepreneurs in their journey and helping them achieve their success.

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