What is the Difference between a Founder Coach, a Mentor and an Advisor?

In the fast-paced world of entrepreneurship and leadership, many group together the roles of mentor, advisor, and coach. Yet, each one plays a unique part and provides distinct benefits. Knowing these differences can empower founders, CMOs, CROs, CEOs, and board members to make smart choices about who to partner with for their growth.

Mentors

Mentors are often experienced individuals who have already navigated the challenges you face. They typically have firsthand experience in similar roles or industries. For example, a Series A founder might turn to a Series C founder for advice on scaling their operations and managing growing pains.

Mentorship often happens in a casual setting, such as coffee chats or scheduled check-ins. A mentor provides value through storytelling, sharing what worked for them and what didn’t. 92% of small business owners agree that mentors directly impact the growth and survival of their business with mentored entrepreneurs found to raise seven times more capital and achieve 3.5 times more user growth than unmentored entrepreneurs.

However, mentees should be cautious. One potential pitfall is "overfitting" where they may mimic their mentor’s journey instead of carving out their own path. Additionally, mentorship can lack clear structure, making it difficult to track progress. A well-defined goal and a framework for the relationship can help this.

Advisors

Advisors are specialists with deep knowledge in specific areas, such as finance, marketing, or operations. For instance, a Series B founder might consult a seasoned Chief Revenue Officer (CRO) on how to build and scale their sales team effectively. These experts provide tactical guidance and can quickly pinpoint issues in their domain of expertise that need resolution. In my case, I am a Marketing expert with extensive experience with Productivity optimization, especially with Automation, and I advise startups on efficient Growth Strategy.

Many startups recruit a range of advisors over time in line with the stage they are in, creating a diverse support network for various challenges. According to a study, companies with advisory boards can perform better, achieving 27% more revenue growth than those without one.

However, relying too heavily on advisors or not knowing how to best leverage them can create challenges. They might concentrate on immediate problems, sometimes missing underlying issues that require a broader viewpoint. Choosing advisors with complementary skills can offset this risk.

Founder Coaches

Coaches focus on facilitating personal and professional growth through questions that inspire clients to reflect and find their own answers. A coach may assist a founder in improving their leadership skills, helping them see challenges from different perspectives, which can be vital for building confidence to autonomously define the best direction, eventually not needing a coach anymore until they need to address a new set of Goals they want to develop.

For example, a coach may help a startup leader enhance their communication skills by guiding them through real-life scenarios. Or ask the right questions about their Business Plan or Marketing Strategy for them to completely clarify the direction they want to take, having had the answers all along. A global study by the International Coaching Federation (ICF) found that 86% of organizations reported a positive return on investment (ROI) from coaching, with benefits including increased productivity, higher revenue, and improved employee retention and engagement.

Despite the advantages of coaching, the industry can be overwhelming. Many individuals promote themselves as coaches, making it hard to identify effective and qualified professionals, even if they have the ICF.

Coaches focus on facilitating personal and professional growth through questions that inspire clients to reflect

Finding the Right Support

When you are looking to engage a mentor, advisor, or coach, consider your specific needs and objectives.

• For personal experiences and relatable guidance, consider a mentor who can share their journey and offer insights you can resonate with.

• For specialized advice on immediate issues, look for an advisor who has proven experience in your area of concern. Their focused approach can help you tackle specific challenges effectively.

  
  

• For deeper personal growth, opt for a coach who can guide you in self-discovery and skill development. This process can yield benefits that positively impact your career in the long term.

  
  

Finding the Right Coach

Verify Real-World Executive and Corporate Experience

Look for Coaches who have demonstrated senior level responsibilities. I don't think titles are that important vs the level of responsibility and projects they have worked on. You might be managing $100M/year in budget and a CMO at a Series A startup may not be the right fit to coach you in budget management. But on the other hand may perfectly help you with P&L ownership. Investigate the level of seniority they have supported, ask them, reach out to their clients to hear their thoughts.

Demand Measurable Results and Credible Testimonials

Key word "credible". Go beyond website testimonials. Look for evidence of results directly relevant to your goals (e.g., compensation, transition, and seniority) on their LinkedIn, Glassdoor, Coaching Platforms, etc.

Insist on a Tailored Methodology and Business Understanding

Truly understand if their one-size-fits-all program has tangible impact on clients, hear it from them. Compare 1:1 Coaching programs costs. That is where the tangible value is (and the speed), in my opinion.

Conduct a Trial Session

Although it is not always offered, Coaches that provide 1:1 Coaching should be open to a quick 15min free trial session to assess not only what your Goals are but if they can support you and are aligned with your ways of working. Ask. And if not offered, ask why.

Verify Formal Training from a Reputable Body

Although many exceptional Career Coaches that rely on their professional experience don't have the ICF, if they do have it, verify it. Formal training ensures ethical standards and professional methodology. For example, I don't have the ICF nor a US recognized organization certification, but I was formally trained as a Career and Development Coach in the biggest Sports retailer in the world and have coached over 200 professionals with 80+ reviews.

Coaching is not about telling you what to do, it's about asking the right questions for you to realize you already had the answers all along. You need to be trained and practice active listening, powerful questioning, building rapport and trust (safe environment), effective communication (constructive feedback), goal setting and accountability and emotional intelligence and empathy. Verify their training.

Final Thoughts

Recognizing the differences between mentors, advisors, and coaches is essential for founders, CMOs, CROs, CEOs, and board members aiming to grow personally and professionally. Each role comes with unique benefits and challenges. Choosing the right fit depends on your individual needs and goals.

By carefully selecting mentors, advisors, and coaches, you can build a robust support system that encourages you business' growth and success. Whether you are at the beginning of your startup journey or pushing to scale your business, the right guidance can lead you to not only achieve your Goals but exceed them.