The market value of the coaching industry is expected to reach $20 billion by 2022. Consulting is also following a similar trajectory, showing that people are increasingly searching for advice and assistance that they are willing to pay for. But what is the difference between them?
Luckily, they are both used for quite different purposes. Read on as we discuss coaching vs consulting and decide which is best for you.
What Is Coaching?
Coaching is a method of personal development in which a group or individual achieves a specific goal. That objective may be business or employment-related, or though more often, it is personal.
The coach’s job is to help the target individual or group achieve the desired outcome. They may do it by seeking out personal challenges to overcome, breaking down tasks into more manageable chunks, or facilitating change. A coach will empower people to take ownership of their actions.
What Is Consulting?
Consultants typically serve business interests and are experts in a particular field. Companies will bring them in to get advice on a range of issues, assess problems with a business, and provide solutions. Many companies will hire them as a magic bullet to avoid closures or to facilitate growth, mergers, and acquisitions.
Coaching vs Consulting
Coaching and consulting do not need to go head to head, as they are used for quite different purposes. The main differences have been collected below.
Approach
As the coach works with personal goals, any good coaching guide will be about concentrating on the individual. Identifying strengths and weaknesses is a large part of this. A coach will then support the choices and decisions made by the client using their expertise.
Consultants have a much more niche-specific approach to business problems. For example, specific companies may request help implementing solutions such as RightAngle consulting or give service in other areas. They don’t work with the behavior of individuals but will have technical or business knowledge to provide.
Outcomes
A coach will not provide answers or do the work for a person. They will promote self-awareness of problems and encourage the person to achieve change through smaller, easy-to-digest goals.
With the consultant, they will provide advice based on information gathered from data and reports. Much of this may be related to funding, how to improve cash flow, and the future of a business. The client then can choose to implement these actions or not, and either way, they will still have to pay the consultant for their time and expertise.
Do I Need a Coach or Consultant?
When you need problems solving of a personal nature, you will need a coach. These may include help with relationships, behavior, or building confidence. Coaching could also be used to help build a cohesive team in a business.
When problems relate specifically to business niches, get a consultant. These are for specific business needs, not personal ones.
Find the Right One for Your Needs
Now you can assess the coaching vs consulting debate; you should know which one is right for you. Make a shortlist of people who have experience in helping with your issue if you want a coach. For consultants, search online for ones who deal in your business niche.
This article is one of many to help you navigate the world of business. Check out our other articles on finance and marketing, and let us help your company thrive.
