Business Consultant vs. Business Coach

[Blurock]

Ramsay is an albatross manager.
He flies in, he craps on them and he flies out...

[Dave A]

Maybe Ramsey's Kitchen Nightmares falls in the category of business rescue. It certainly is an intervention!

[Rebel]

Maybe Ramsey's Kitchen Nightmares falls in the category of business rescue. It certainly is an intervention!

Might be an intervention - but I have not heard the word "interventionist" - he holds their hands for a while and shows them = COACH

[Yvonne]

Any recommendations for a business mentor? also any idea of what a business mentor or coach could charge?
Obviously it would depend on what is requested, but just an idea of what sort of budget one would need, to hire a coach or consultant for ad-hoc advice?

Someone able to specifically answer “what if” questions ie. Employee earnings.
As the hardest problem is trying to be fair to employee earnings/cost of living, without putting the company at risk due to “committed” earnings, when profits are declining.

Employees expect an annual 10% increase, but in a declining market that threatens the very existence of the business?

I would be incredibly grateful if someone would be kind enough to give their input as to what a fair “motor vehicle allowance” would be for an management position in a company only employing 11 people?

Thanks
Yvonne

[Blurock]

I would be incredibly grateful if someone would be kind enough to give their input as to what a fair “motor vehicle allowance” would be for an management position in a company only employing 11 people?

Thanks
Yvonne

How much is the manager worth? Usually a package is negotiated as cost to company. That is what the company is prepared to pay for the service. Once that is settled, the package can then be tweaked to allow for the best tax deductible benefits to the employee. No use giving a car allowance if the manager does not travel. In that case the car allowance may be a burden as it may not have a pension component. With low mileage he will then also have to pay additional tax at the end of the year.

[Yvonne]

Any member able to give any idea of approx. costs to consult with either a coach or mentor?

[flaker]

Well here in South Africa, i would think between R3000-R6000 per month with your coach and yourself getting together 3 to 5 times per month??

[BusNavig8]

Any member able to give any idea of approx. costs to consult with either a coach or mentor?

Personally I think that one usually only goes looking for a coach or a business consultant when the "bucket starts leaking in a business" and usually the bottom has already started showing signs of fall out. Because of this I think that the costs are dependent on what needs to be done in the business and each situation is unique. Sometimes its just a small thing and does not warrant a huge investment, other times it does. The other problem is that unless the business owner is prepared to change their way of thinking then a business consultant or coach will be a waste of money. A possible route would also be on a retainer basis. I would say make an investment in an appointment with a good consultant/coach and find out what it is that needs to be done and then take it from there. Make sure you are prepared to take there advice (that is why you need to be very fussy about who you ultimately decide to use) and be fully invested in the process.

[Blurock]

the costs are dependent on what needs to be done in the business and each situation is unique.

I agree with BusNavig8. First analyse the problem and write it down, so that you understand what is wrong. No use calling in a sales expert if you need an accountant, or an HR technician if your production process or systems need adjusting. Get the expert for the job. Cost is not the issue, your business and its survival is.

The other problem is that unless the business owner is prepared to change their way of thinking then a business consultant or coach will be a waste of money.

Do not call a mechanic if you do not want your car fixed. Your business is in a fix because you are doing something wrong. Get a second opinion, but please don't do nothing

A possible route would also be on a retainer basis. I would say make an investment in an appointment with a good consultant/coach and find out what it is that needs to be done and then take it from there. Make sure you are prepared to take there advice (that is why you need to be very fussy about who you ultimately decide to use) and be fully invested in the process.

I have recently fired a client who paid me a handsome retainer because the managing owners were to lazy and disorganised to implement what we agreed on to get their business back on track. I was not prepared to risk my reputation with lazy people who arrive at work at 10 in the morning.

[flaker]

Personally I think that one usually only goes looking for a coach or a business consultant when the "bucket starts leaking in a business" and usually the bottom has already started showing signs of fall out

Agree, but not quite.I would strongly advice any business that may be profitable,have no cash flow problems etc to still look at coaching/mentorship. When one is immersed in a business, complacency does set in, and somebody looking at it from the outside with different set of eyes could just make tremendous improvements in many different facets of the business.

[Blurock]

Successful people never stop learning. Entrepreneurs are inquisitive and are always searching for opportunities, but also for better ways to do business. They are the ones that attend refresher courses, join study groups or employ business coaches.

[BusNavig8]

Successful people never stop learning. Entrepreneurs are inquisitive and are always searching for opportunities, but also for better ways to do business. They are the ones that attend refresher courses, join study groups or employ business coaches.

Hence the very reason why there are so many business failures. Entrepreneurs stop doing all the things they did when they started out. - innovating, researching etc. My belief is that you need external input to keep the focus right, and I mean that in the correct sense. Its just so easy to work in your business and not on your business, get caught up in day to day issues, be left behind when technology changes or when there are better ways of doing things. We get complacent because we know which of our clients love us and are loyal to us, and we think it will last forever and that they will be forgiving if our service slips or other areas are not quite functional, and they will but eventually your competition will win them over. It is true that even thriving business need a mentor but how many businesses do you know that employ a mentor in a working business, not many.

Again there is also a difference between motivation and inspiration. One is external and one internal. I don't attend motivational talks as a rule. They are like a Red Bull High and when they drop you , you fall hard, why because the external factor was removed, and then you have to go back for more. Where is the real value in that. Give me inspiration any day - that will get me going and keep me going. As a rule I digest a business failure and a business success every week and break it down to see what I think the factors were and where similarities exist. This exercise has helped me hugely.

[adrianh]

@BusNavig8 - I like the way you think and I agree with you.

I am starting to dislike the word "Entreprenuer" because it is now applied to any person who does anything at all for profit. Any fool can buy and sell and pocket the difference. Would one consider a prositute to be an entreprenuer if she makes a huge profit? What about if she takes commission off others, would she be an entreprenuer or a pimp? what about a drug dealer that turns a profit or the drug merchant who has 10 drug runners working for him.

We need to seperate issues. An inventor, innovator, entreprenuer, sound business man are not the same thing. Having ideas is wonderful but one needs to be able to bring the to market and keep them there through innovation. I'll say this for my mentor, he forces me to be lean and mean, he provides enough direction to and backing to make me figure out for myself how to drive the business.

As far as I am concerned the most important thing in business is Evolution. A business isn't a house that is planned by an architect, is built and then stands forever. It is more like a car that has many parts that fit together to make the whole. Some parts break down often and need to be redesigned, some parts eventually wear out and some are no good from the start. We have to look at the whole, the parts, how the parts fit together, how they interact with one another and the outside world and we need to evolve all the time. We sometimes need to throw out the engine and replace it with another and sometimes we need to simply need to write the car off or trade it in on another.

There are no easy answers in business, there are better ways of doing things and worse ways but there certainly are no right ways cast in stone. The purpose of a business coach, instructor or mentor is not to drive your car for you but to enable you to make better judgements of the state of each component of your car. They will not give you a manual for your car, they can give you basic driver's ed but you need to use the tools to learn how to build, maintain, evolve, repair and nurture your own car.

Odd analogy I know, but i do think that it is apt.

[Blurock]

@adrianh. Right on the button.

Every business is unique and to survive you have to evolve with the market and be curious enough to learn new things.

[Dave A]

I have to agree that even when things are going well, it's a very good idea to keep getting an outside perspective.

I've never had a formal "mentor", but I have a few people in my orbit that I'll bounce thoughts past from time to time. And I'm also fortunate enough to have a good relationship with a number of other folk in my industries.

Sometimes I also use TFSA (that one helped put things in perspective quite nicely).

I've found sometimes it's the external feedback that helps - and other times just taking the time to try to present the issue to an outsider in an understandable manner that leads you to answers.