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Why a Coach Isn't the Same as an Advisor

Years ago I got screwed on fundraising terms and, afterward, my advisor asked why I hadn't called him first. Simply: I forgot.

This is why founders need a coach in addition to advisors.

Advisors and mentors are "on call". They're available when you need something. And they're amazing because they usually ask for nothing in return -- maybe a little equity.

But in the daily chaos of starting a company, keeping it alive and (someday, maybe) growing it into a thriving enterprise, it's almost impossible to pull yourself out of the weeds and take stock of your resources, the people who can help.

Whether you're engaging with a coach on a weekly, bi-weekly or monthly basis, there are standard check-in points where that resource reaches out to you and asks "what's going on?" You can't forget to take advantage of that resource, because they'll track you down and ask "why did you miss our meeting?"

When I think about the many, many times I screwed up in my startups, there are some that a coach wouldn't have helped. But many of them -- in some cases, multi-million-dollar errors in judgement -- would have been avoided with a single standing call with someone who knew what the hell they were doing.

Advisors and mentors are wonderful supplements to a coach, but not a replacement. Make sure you have all three.

Eric Marcoullier · Obvious Startup Advice
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