Finding a mentor, coach or adviser
Every business owner hits problems they haven't solved before. The right mentor, coach or adviser can save you time, money and stress. The wrong one can cost you all three. This guide explains who does what, where to find free and low-cost help, and how to tell good advice from bad.
In short
- A mentor shares experience, a coach helps you set and reach goals, a consultant solves a specific problem, and a professional adviser handles regulated areas like tax, law and finance.
- Start with free help - business.gov.au's contact centre, government-funded advisers and low-cost mentoring services.
- Choose someone with relevant experience, check references, and agree the goals, cost and time up front.
- Use licensed professionals for financial, legal and tax advice.
- Walk away from anyone who promises guaranteed results or pushes expensive packages.
Who does what
| Type | What they do | Typical cost |
|---|---|---|
| Mentor | Shares experience and perspective, helps you think things through | Often free or low-cost |
| Business coach | Helps you set goals, build skills and stay accountable | Paid, by session or package |
| Consultant | Solves a defined problem: marketing, systems, pricing, IT | Paid, by project or day rate |
| Business adviser | General business advice, often through government-funded programs | Often free or subsidised |
| Professional adviser | Accountant, lawyer, financial adviser, for regulated advice | Paid; licensed or registered |
Many owners use more than one. A mentor for perspective, an accountant for tax and a consultant for a specific project is a common mix.
Start with free and low-cost help
business.gov.au lists several ways to get help:
- business.gov.au contact centre: call 13 28 46 (8 am to 6 pm, Monday to Friday) or use webchat for help finding information, grants and programs.
- Business advisers: business.gov.au’s adviser finder lists services that can help you solve problems, find funding and grow your networks, online, by phone or in person.
- Self-employment assistance through Workforce Australia, including workshops, business advice and coaching for eligible people.
- Events and workshops on planning, record keeping, intellectual property and digital tools.
- Financial counsellors, free and confidential, if you’re struggling with money.
The Small Business Mentoring Service offers low-cost mentoring Australia-wide, with volunteer mentors who have owned or worked closely with small businesses.
Also look at:
- Local chambers of commerce and business associations
- Industry associations for your trade or profession
- Your network: experienced owners are often happy to have a coffee and share what they learned. See Networking and referrals.
Choosing someone
Before you commit, ask:
- What experience do you have with businesses like mine, at my stage?
- What results have clients achieved, and can I speak to two of them?
- How do you work: how often we meet, for how long, and what happens between sessions?
- What does it cost, and what’s included? Is there a minimum term?
- What qualifications or memberships do you hold? For financial, legal or tax matters, are you licensed or registered?
Good signs: they listen more than they talk, ask about your goals and numbers, and are clear about what they can’t help with.
Get the most from it
- Set goals: two or three specific outcomes, such as “a pricing model that lifts margin to 30%”.
- Prepare: bring numbers, questions and updates to each session.
- Do the work between sessions. Progress comes from action.
- Review every few months: is it helping? If not, change or stop.
Know when you need a licensed professional
Mentors and coaches aren’t a substitute for regulated advice.
- Tax: a registered tax agent or BAS agent.
- Legal: a lawyer, for contracts, disputes, leases and structures.
- Financial products and investments: a licensed financial adviser.
Warning signs
- Guaranteed results or income claims
- Pressure to sign on the spot, or large up-front payments for long packages
- Vague methods and no client references
- Advice outside their expertise, especially on tax, law or financial products
- Upselling to more expensive programs before you’ve seen results.
If something feels wrong, walk away.
Becoming a mentor yourself
Experienced owners can mentor others through industry groups, mentoring programs or within their own team. business.gov.au notes that mentoring is a low-cost way to develop staff, and it’s good for the mentor too. See Training and developing staff.
Common questions
Where can I find a free business mentor in Australia?
Start with business.gov.au, which lists business advice services and runs a contact centre on 13 28 46. Government-funded advisers, local business enterprise centres, chambers of commerce and industry associations can also help. The Small Business Mentoring Service offers low-cost mentoring by volunteers Australia-wide.
What is the difference between a mentor and a business coach?
A mentor is usually an experienced business person who shares what they’ve learned, often informally and at little or no cost. A coach works with you in a structured way to set goals, build skills and keep you accountable, and is usually paid.
How much does a business coach cost?
It varies widely by experience, format and how often you meet. Ask for clear pricing in writing, start with a short trial or a defined number of sessions, and avoid long lock-in contracts or large up-front payments.
Can a mentor or coach give me financial or legal advice?
Only if they’re qualified to. Get advice about financial products and investments from a licensed financial adviser, tax advice from a registered tax agent, and legal advice from a lawyer. A mentor or coach can help you prepare questions for them.