Who To Hire? Do You Need A Financial Coach Or A Business Coach

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Episode 165: Who To Hire? Do You Need A Financial Coach Or A Business Coach

In this episode, I delve into the critical decision of whether you need a business coach or a financial coach. I’ll break down the pros and cons of each, helping you make an informed choice. We’ll discuss how business coaches can aid in growth but might fall short on specialized financial and mindset strategies, and why a financial coach can offer an integrated approach. Ultimately, this episode aims to provide clarity on finding the right guidance to strengthen your entrepreneurial journey. If you’re torn between the two options, this episode is for you!

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Resources: Who To Hire? Do You Need A Financial Coach Or A Business Coach

• Cashflow Calculator: https://aimeecerka.com/cashflow
• Money Mastery Academy: https://aimeecerka.com/academy
• Instagram: https://instagram.com/aimeecerka

Podcast Key Points

0:00 – Episode Overview
1:36 – All in One Solution
2:36 – Emotions Around Money And Why They Matter
3:38 – False Progress
5:06 – Well Rounded Financial Support

Episode 165: Who To Hire? Do You Need A Financial Coach Or A Business Coach

Do you need a business coach or a financial coach? This isn’t really a money coaching myth, but this is something that we need. To discuss along the same lines. Because sometimes you do need a business coach, sometimes you need a financial coach. And sometimes you need both. So we’re going to talk through some. Of the processes whenever I have this. Conversation with clients today.

Welcome to Your Money Your Life Podcast

This is the Your Money Your Life Podcast. I’m your host, Aimee Cerka, a money confidence coach for female entrepreneurs on the path to six figures. After over ten years in the personal finance industry and multiple personal, financial, and medical crises, I was fed up with the lies that are being shouted from the rooftops by the gurus and the media. So now I help you simplify, solidify, and scale your money. By blending tactile money strategies with mindset work, you can create unstoppable finances.

Together, you’ll finally figure out the money thing, so you can make more money. In less time without living off of beans and rice or sacrificing your lifestyle. The episodes here on the podcast are short and sweet. Being married, having four kids at home, homeschooling, being a CEO, running the household. I’m kind of busy, and I know you are, too. So let’s keep it simple and get to the point. Welcome.

Business Coaches vs Financial Coaches

I’m so glad you’re here. Welcome back to the Your Money Your Life Podcast. Today we’re talking about business coaches versus financial coaches, and which one is the solution that you’re looking for, right? So when you hire a business coach, you’re kind of thinking it. I mean, it makes sense to me, right? You’re looking to grow your business.

Pros of Having a Business Coach

It kind of feels like that all-in-one solution. Because a lot of times, business coaches will help you some with the mindset they have a business. So they understand the aspect where you’re going to save time and then you’re going to save money because you’re paying. One coach versus having multiple, right? So those are like the pros of having a business coach.

Things to Be Aware Of When Hiring A Business Coach

And before we go any further, I want to preface this like, I feel like you should have business coaches, and I’ve had business coaches. This is information to help you make educated, informed decisions on where things are at. Okay. There are some negatives to that. I don’t want… They’re not even really negatives, things to be aware of. Okay?

Specialized Money Mindset Training

So most of the time, these business coaches, they’re not necessarily specialized to teach money mindset. They will have some mindset training. They probably have some personal awareness to some of those stories that they can add in, but there’s a difference in being specialized with money. And of course, you know, I specialize in the emotions around money.

Money Emotions

And we’re going to approach like how we are tactically working on things with those, with those straight, oh, my goodness. With those strategies, we’re just going to change the word with the strategies that we’re using and we’re also going to talk about the mindset. And of course, the mindset is our thoughts, beliefs, emotions around money. And those emotions are such like, they show us what we’re thinking, what we’re feeling around money.

False Progress and Band-Aid Solutions

So when we handle the emotions, we’re able to handle all of that. The problem that becomes with somebody who’s not specialized, only working with somebody who is not specialized in the mindset is you can end up making almost like false progress because you’ll make more money. Because, hey, you’ve got a business coach. That’s great. Fantastic.

Working on Both Aspects

You’re working on your business, you’re making more money. Awesome. You’ve got it right. Not necessarily. Often it ends up being a band-aid solution because we haven’t worked on, again, the money mindset portion, those thoughts and feelings and the core parts, like we talked a couple weeks back when it comes to money, who you are, not just the mindset. Um, honestly, I feel like you can have both, right?

Should You Have Both Coaches

Like, having a financial coach is fantastic. Having a business coach is fantastic. But you need to weigh out those things and see what we’re working towards. So we’re not writing off just because, hey, I have a financial coach, so I don’t need to work on the business and vice versa. Like, I have a business coach, so I don’t need to work on the money or look at that. Consider those things.

Making Progress Stick

We want your results to stick right there. Entrepreneurship is an up and down roller coaster. Right. Like, we know that. But maybe the downs don’t have to be as bad when we’ve done the work that we need to. And that’s the support that I want to make sure that you have regardless of who you’re working with.

We’re probably more on board and there’s another pro here. And I guess I can’t speak to all financial coaches with this portion. So we’re going to speak to me specifically when you have the business coach, you might have that support like we talked about with the mindset portion that they can help you a little bit with the money mindset. Again, it’s not going to be as specialized, but hey, like, that’s going to be there. Right.

Tactical Strategy and Mindset With Money

But you’re missing the, like, tactical strategy and the mindset because that’s the part that we, the part that I blend, then is the tactical strategy in the mindset, we’re going to do both. And sometimes you can find coaches who will work on the tactical, practical strategy. And sometimes you’ve got coaches that are working like you have a money mindset coach and then it almost feels like multiple people, whereas, like, this is a hybrid.

Finding the Right Coach

So maybe you can find a hybrid solution even within the business coaching realm that would feel successful for you also. But I’ve got one client in particular that comes to mind that she was like, yes, to Money Mastery Academy because she was like, I know I need to do something. I don’t know if I need a money mindset coach. I don’t need to find know if I need a money coach, like for the tactical money stuff. And it was like, this is the best of both worlds.

Holistic Solutions

So looking again, we talked about this a couple of weeks ago, looking for those solutions and finding things that’ll give you that holistic, well-rounded solution that you need. So all in one solutions can be great. But I feel like we talk about this often in the entrepreneurial space when we start talking about things like, I use and love Kajabi for my coaching and courses platforms, but I don’t use them for email even though they have that because when we have that all-in-one solution, I know people use them for email, but they’re not my email.

Specialized Solutions

Those all-in-one solutions can have a lot of the things, but it’s much more generalized. And if you want to dive deep and get something that’s specialized and have that support, that’s where the differences can come in and who you are hiring. All right. I don’t know that we have an action step for today. This is much more like, hey, I want you to be aware of this going forward.

Making Informed Decisions

These can be the things that are holding you back. These can be the things that can accelerate your growth, like just making those informed decisions, right? All right, here we go. If you got questions, send me a message on Instagram. That’s it for now. We’ll see you next time.

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