Business coaching is the practice of providing support and occasional advice to an individual or group in order to help them recognize ways in which they can improve the effectiveness of their business. It can be provided in a number of ways, including one-on-one tuition, group coaching sessions and large scale seminars. Business coaches are often called in when a business is perceived to be performing badly, however many businesses recognize the benefits of business coaching even when the organization is successful. Business coaches often specialize in different practice areas such as Executive Coaching, Corporate Coaching and Leadership Coaching.
Business coaching is not the same as mentoring. Mentoring involves a developmental relationship between a more experienced “mentor” and a less experienced partner, and typically involves sharing of advice. A business coach can act as a mentor given that he or she has adequate expertise and experience however, mentoring is not a form of business coaching. A good business coach need not have specific business expertise and experience in the same field as the person receiving the coaching, in order to provide quality business coaching services.