All three bring unique value to your new venture.
Need strategic direction, industry insight, or reaching into a network? Get yourself an advisor.
Need to learn, grow, or get better? Hire a coach.
Need financial support? Find an investor.
Each comes with a set of pros and cons.
Advisors provide wisdom, experience, perspective, and a network. But they’re not invested in your success in any material way. If you fail, oh well, that’s a shame.
Coaches help you identify and overcome your shortcomings, hold you accountable, and can provide tools and techniques. But they’re only invested in your success to the extent that they can use you as a testimonial. If you fail, you’re just an omission.
Investors provide the fuel (capital), likely strategy, and a network. They are deeply invested in your success, so they 100% want you to succeed. But that can lead to overbearing control of you and your venture. If you fail, you’re in trouble. If you succeed, you might still be in trouble.
You probably want one or more of these types of people along the way. Just remember, they don’t necessarily see what you see.
That’s all on you.
