Business Advisor vs Business Coach: Which one is right for you?
It’s not surprising that in the past Business Coaches and Advisors have been placed under the same umbrella. They both exist to help business owners achieve their goals. However, while Business Coaches have a reputation of promising the world, Advisors like to take a more realistic and practical approach.
So as a business owner, why should you choose an Advisor over a Coach? We’re glad you asked.
Teach a man to fish
Advisors that double as accountants *cough* like us, put as much time into educating you about the financials of your business and how to optimise them as they do in taking care of general accounting duties, which means more bang for your buck. If your accountant is not taking on an advisory role – they will take care of your back end but there’s no education. It’s important to be across what your accountant does and thoroughly understand your businesses financials.
Driven by data
Accountants and Advisors know data, and how to use data to make your business better. We create dashboards that help us to work with you and plan for the growth of your business. This means we make decisions based on our data and only take calculated risks. Some Business Coaches can become overenthusiastic and drive you to make quick decisions that can have a long term impact on the success of your business. When working with an Advisor, you can trust that each decision is well thought out with the data to back it up
We know tech
While a good Business Coach will be tuned into tech, Advisors are tuned into the tech that will contribute to the efficiency and money-making that happens within your business. RBK’s Advisors know accounting software (hello Xero!) like the back of their hand and what plugins will help take your business to the next level. They can also help you use and set up payment gateways such as stripe or document management systems such as HubDoc to help keep on top of your bookkeeping.
Don’t get us wrong. There are some amazing business coaches our there and they can help businesses immensely in their field of expertise but if it’s numbers and efficiency you’re after, we think you can’t go past an advisor. Do you want to grow in 2020? Engaging an experienced Business Advisor (we know a few!) can have a huge impact on the profitability of your business and the efficiency of your operations. Get in touch with us today to see how we can help.