Episode 2

What's the Difference Between a Coach and a Mentor in Business?

Published on: 31st March, 2024

What's the Difference Between a Coach and Mentor in Business?

In the journey of entrepreneurship, having guidance and support is invaluable. Both coaches and mentors can provide this, but they serve different roles within the context of personal and professional development. Understanding the distinctions between these two can empower business owners to choose the right type of support for their specific needs.

What is a Coach?

A coach is a professional who focuses on helping you reach specific goals or improve particular skills. In a business context, coaches are often hired to address specific issues or to enhance certain competencies within a set timeframe. They use structured methodologies and techniques to achieve results, such as setting goals, creating action plans, and accountability measures.

What Do Coaches Do?

Goal Setting: Help clients define clear, achievable goals.

Skill Enhancement: Focus on developing specific skills for personal or professional advancement.

Performance Tracking: Monitor progress and adjust strategies as necessary to ensure continuous improvement.

What is a Mentor?

A mentor, on the other hand, is typically someone who has walked the path before. They offer their knowledge, insights, and wisdom to guide mentees through their journey. Mentoring relationships are more informal and long-term than coaching and are often not paid engagements. Mentors share their personal experiences, providing advice, support, and encouragement to help mentees navigate their career or business challenges.

What Do Mentors Do?

Sharing Experience: Offer insights and advice based on personal experiences.

Providing Guidance: Help mentees explore options and make informed decisions.

Emotional Support: Offer encouragement and moral support through challenges.

Choosing Between a Coach and a Mentor

Identifying Your Needs: The choice between a coach and a mentor largely depends on your current needs and objectives. If you're seeking to improve specific skills, address a particular challenge, or achieve a goal within a short timeframe, a coach might be what you need.

Coaching is action-oriented, focusing on achieving tangible outcomes.

Conversely, if you're looking for someone to guide you through the complexities of your business over a more extended period, a mentor could be more beneficial. Mentoring is about personal growth and holistic development, with the mentor providing insights drawn from their experiences.


In navigating the complex waters of business, having a coach or mentor can be like having a lighthouse guiding you through the fog. By understanding the distinct roles each can play, you can make an informed decision about what type of guidance will best support your journey. Whether choosing a coach for their structured approach to achieving specific goals or a mentor for their wisdom and long-term guidance, the right choice can propel you and your business towards success. Remember, the journey of growth is continuous, and at different stages, the support of both a coach and a mentor could be invaluable.

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Disclaimer

The information in these show notes is purely factual in nature and, therefore, does not constitute, and should not be relied upon as, legal, Tax or financial product advice. None of the information provided considers your personal objectives, financial situation or needs, and you will need to make your own decision about how to proceed. Alternatively, you should consider seeking advice from a Tax Agent, Lawyer, or licenced Financial Adviser

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About the Podcast

The Australian Small Business Show
The Australian Small Business Show has been created by small business owners, for small business owners.

Your hosts Matt Heighway and Kristy-Lee Billett, who have both been running businesses for over 15 years, will bring our first hand experiences to offer insights, advice and inspiration to help you build a successful small business.

Each week we’ll discuss one specific strategy, topic, resource or tip that’s relevant for every small business, and we’ll be inviting along some amazing guests and friends in business to share their expertise with you.

Whether you're starting out, scaling up or a seasoned small business owner, this Australian Small Business Show is the show for you.

About your hosts

Kristy-Lee Billett

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Kristy is a nationally recognised HR expert, passionate small business advocate, podcast host, mum, wife, beach lover and runner.

She has spent more than 20 years now working in the field of Human Resources, People Management and Recruitment.

For the last 10 years she has dedicated herself to exclusively supporting small to medium sized businesses, those who employ less than 100 staff with all aspects of their HR, recruitment, people management and resource structures.

She founded her first business in 2006, and today she continues to direct this business, which is now known as People Powered Business.

Today She loves working with businesses inside our People Powered HR community to help them gain the knowledge, tools and resources to handle absolutely anything when it comes to their teams, with complete confidence.

Matt Heighway

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Matt is a CPA who has been working with business owners in multiple capacities for well over two decades. After commencing his career as an Accountant and Business Adviser, his own national start-up won numerous business awards and was featured in BRW fast 100. Since the business sold, he has been working with small-medium business owners helping them with business growth strategies and holistic business coaching.

Matt also is the Director of Lifetime SMSF, an accounting practice that specialises in Self-Managed Super Funds. Helping Australians manage their retirement nest eggs has been a lifelong project for Matt and he continues to get joy from helping.

Matt is a lifelong learner who loves to chat with other business owners. he is passionate about small business and always wants to see them win. He is at his best when things need turning around though, and gets his motivation helping small business owners come back from a set back.