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Mentoring vs. Coaching vs. Training can be confusing. These definitions will help you identify which one would most benefit you!
Mentoring is a knowledge-tiered relationship whereby the mentee benefits from engaging with an exceptionally experienced person in their field. The mentoring relationship offers direction, mentor opinions, and recommendations to the mentee. (To the extent mentor can do so within SEC regulations.)
The relationship involves a mentor sharing their personal experience, understanding, and trading insights with mentees.
Mentoring is, in essence, like a good father, son relationship. The mentor sets an example and gives guidance based on what the mentor believes is best for the student. The mentor’s guidance is based on the mentor’s belief system.
The purpose of coaching is to unlock your potential to maximize your performance. Coaching helps you to discover what to do.
A coach’s guidance is focused on helping you discover your own answers based on your personal beliefs, opinions, and resources. He believes in your ability to figure it out.
The coach helps you to learn and perform your best through leveraging your own personal beliefs, knowledge, resources, and experience.
Training simply relays knowledge and techniques.
Training can help you learn a new trading strategy or improve your understanding of a known trading strategy.
The good trainer is an expert in their field with vast theoretical knowledge. They will train you on procedures and processes. The learning experience flows in one direction: from the trainer to the trainee.
Be aware that some people who specialize in training are not necessarily “doers”.
Good trainers are excellent at relaying theory.
Trainers often lack the practical real life experience required to be a good mentor or the specialized training required to effectively coach.
This dynamic sometimes makes some trainers poor mentors and/or coaches.
Yes, there are exceptions, some trainers have a large amount of practical experience and make good coaches or mentors.
The role of the trainer is to relay theoretical knowledge and techniques. The role of the trainer does not include offering personal guidance. A trainer would not be expected to become involved the trainees specific goals and objectives.
Do coaching, mentoring and training overlap?
Yes, absolutely! Sometimes coaching, mentoring, and training are happening in unison! That said, sometimes the 3 approaches will be in direct conflict with each other.
Effective learning requires all three, training, coaching and mentoring!
Instruction on theory and technique will allow you to gain a theoretical understanding of the process.
Opinionated guidance from a battlefield tested mentors will help guide you through the effective application of theory, and educate you on where theory breaks down.
A great coach will help you develop a belief in yourself and your ability to discover solutions. Coaching will help you become self reliant, assist you in creating your own path based on your personal beliefs, and ultimately allow you to maximize your performance.
Luckily at Locke In Your Success LLC. we offer all three, Training, Mentoring, and Coaching!
Highly skilled trainers. Powerful Training Programs. Informational Webinars
Battlefield tested professional trader mentors
Highly skilled, professionally trained coaches
We look forward to helping you become the best trader you can possibly be!