Mentorship vs. Therapy: 6 Key Differences Every Entrepreneur (and Mentor) Should Know

Entrepreneurs often seek mentorship for guidance on their startup and scaleup journey, but therapy is also becoming a valuable tool for business owners. To explore this further, Tamara Woolgar, the Executive Director at A100, sat down with Keara Gillis, a Founder and Therapist at Collectively Tangled, to better understand the important differences between mentorship and therapy. 

Tamara: Thanks so much for this chat, Keara. I’m keen to break down the key differences between therapy and mentorship. 

Keara: Absolutely! Both mentorship and therapy are powerful, but they serve different purposes. Let’s dive into six key differences.

1. Advice vs. Self-Discovery

How does the approach to guidance differ?

A mentor typically gives advice based on their own experiences—what worked for them, what didn’t, and what they recommend. If they don’t have experience in the space, mentors will often make introductions to someone who they think might have that experience. Mentors also ask questions, but their role is to provide guidance on the business rather than to facilitate deep self-exploration. Therapy, on the other hand, is less about advice and more about helping you develop self-awareness. A therapist helps you explore your thoughts, emotions, and patterns so you can make decisions that align with your values, not just external expectations.

Takeaway: If you’re looking for advice or connections to advice, seek a mentor. If you want to understand yourself better and strengthen your decision-making, therapy is the way to go.

2. Problem-Solving vs. Personal Growth

Entrepreneurs face constant challenges. How do mentorship and therapy support problem-solving?

A mentor helps you solve business-related problems—raising capital, growing a team, or refining your strategy. A therapist, however, helps you understand how you approach problems. Do you second-guess yourself? Avoid tough decisions? Therapy helps you develop emotional resilience so you can tackle challenges with confidence.

Takeaway: Mentorship helps with business problems. Therapy helps you strengthen your internal ability to handle challenges.

3. Short-Term vs. Long-Term Development

Do mentorship and therapy serve different timelines?

Yes. Mentorship often addresses short-term business goals—launching a product, sales, fundraising, or navigating an acquisition. Therapy, however, is about long-term personal development. It helps you build emotional intelligence, manage stress, and create sustainable habits that support your leadership and well-being over time.

Takeaway: Mentorship helps you achieve immediate business goals. Therapy helps you grow into a stronger, more self-aware leader for the long haul.

4. Business Strategy vs. Emotional Well-Being

Entrepreneurs deal with both business pressures and personal challenges. How do mentorship and therapy address these?

A mentor helps you strategize—what moves to make, what risks to take, and how to stay competitive. Peer support within mentorship is invaluable for normalizing lived experiences, sharing wisdom, confiding about challenges, and feeling less alone in the journey. A therapist helps you manage the emotional weight of entrepreneurship—imposter syndrome, burnout, fear of failure, and work-life balance. Therapy ensures that your mental and emotional well-being don’t get lost in the hustle.

Takeaway: Mentorship helps you strategize, and can help normalize your experiences as an entrepreneur. Therapy helps you stay mentally and emotionally grounded.

5. External Perspective vs. Internal Strength

How does each one shape an entrepreneur’s confidence?

A mentor provides an external perspective—you lean on their experience, insights and network. Therapy helps you build internal confidence, so you trust your own judgment. 

Takeaway: Mentorship gives you external guidance. Therapy helps you strengthen your inner voice and self-trust.

6. Business Communication vs. Emotional Intelligence

How do mentorship and therapy compare when helping entrepreneurs with communication?

A mentor helps you refine your business communication—how to pitch to investors, lead a team, or negotiate deals. They provide tips based on their experiences and what’s worked for them in professional settings. Therapy, on the other hand, focuses on emotional intelligence and interpersonal relationships. It helps entrepreneurs build self-awareness, navigate difficult conversations, set boundaries, and manage conflicts in a way that fosters trust and collaboration. Therapy ensures that your leadership is not just effective, but also emotionally sustainable.

Takeaway: Mentorship helps you master external business communication. Therapy helps you develop deeper emotional intelligence to improve all your relationships—both professional and personal.

Tamara: This has been wonderfully insightful, Keara, thank you for sharing! Any final thoughts?

Keara: At the end of the day, it’s not therapy or mentorship—it’s both. Entrepreneurs often need both mentorship and therapy at different stages of their journey. Knowing when to seek each can make all the difference in growing both your business and yourself. 

Your business is only as healthy as you are. By integrating therapy and mentorship into a routine, entrepreneurs can stay motivated, aligned with their goals, and resilient through the highs and lows of business ownership.

For more insights on therapy for entrepreneurs or to book a free consultation with a specialized therapist, visit Collectively Tangled. To learn how we are embedding access to mental health in the entrepreneurial ecosystem, read more about our recent collaboration with Innovate Calgary and the City of Calgary.

Tamara Woolgar

Executive Director, A100

With more than 20 years of experience in public relations across corporate, agency, and freelance sectors, Tamara Woolgar has been at the forefront of elevating Western Canada's tech and innovation ecosystem. As the Executive Director of the A100 since 2019, she has led the charge in building a dynamic community of top tech leaders, founders, and investors dedicated to nurturing the next wave of innovation.

Tamara's leadership extends beyond her role; as a biracial woman and a passionate advocate for Diversity, Equity, Inclusion, and Belonging (DEIB), she leverages her platform to champion social change within the industry. Her memoir, *A Flawless Mistake: Tales From a Beautiful Life of Colossal F*ckups*, published in July 2020, captures her journey with candor and humour, resonating with readers who see themselves reflected in her raw, relatable stories of resilience.

Under her stewardship, the A100 has solidified its role as a hub for growth, collaboration, and policy influence. The organization’s flagship initiative, Start Alberta, offers unparalleled insights into the province's startup ecosystem, connecting entrepreneurs to funding opportunities and driving the narrative of Alberta’s innovation economy on the global stage.

Keara Gillis
Co-founder and Therapist, Collectively Tangled 

As an entrepreneur and registered social worker, Keara (she/her) brings a unique blend of professional expertise and lived experience to her practice. She understands the challenges, stressors, and demands entrepreneurs face. Through thought provoking discussion, Keara empowers clients with practical tools to enhance their well-being both professionally and personally.

In addition to her focus on entrepreneurial mental health, Keara specializes in supporting clients with ADHD, helping them navigate life with greater clarity, balance, and confidence.