Most times, legal practitioners have a hard time turning a profit in their law firm despite the ton of work they put in. Others find that juggling business management and their core competence, which is law, does not seem to be working out well.
There are many ways that a law firm can solve the problems of business management and entrepreneurship. They can either employ a manager whose job is to solely administer the business side of the firm or employ the services of executive coaches for their staff.
The latter option seems to be the better one and more effective for all concerned. This is because executive coaching does not only involve business development coaching; it will take the participant way beyond that and yield a far greater dividend at the end of the day. Stay with us as we expand further on this thought.
What is Executive Coaching?
This is a term that refers to leadership training that is meant to help executives develop their leadership skills and also enable them to build and maintain their reputation while succeeding and getting to the peak of their careers. It goes beyond professional development to the personal development of the participant.
This coaching program often focuses on a number of areas, such as leadership skills, psychology, motivation, and business development. Coaches, as the participants in this program are referred to, can leverage this program to get feedback about where they are in life and career, how to pivot on a career and other issues. Below is a summary of issues that an executive coach can help a lawyer address:
- Uncertainty about the next level of a law practice
- Financial profit and/or professional recognition are not commensurate with the work put in.
- Diversification of practice in a law firm
- Getting unstuck at a career crossroads
- Building leadership skills, team building, and staff support
Importance and Benefits of Executive Coaching
As we have mentioned earlier in the introduction, this coaching is not only important and beneficial for professional life; it also comes in handy for personal development. Find below some more benefits of this program:
Helps the Executive Combat Isolation
It is said that it is lonely at the top, and this is something that everyone who has climbed or is climbing the corporate ladder can attest to. This is so because not many people can relate to the stress and responsibility that come with being at the top of a career ladder. Even though most executives engage in coaching to deal with an issue that may be work or business-related, they quickly find out that the training helps to alleviate the feeling of isolation.
Most executive coaches understand the responsibility and stress that come with top positions in a law firm and indeed any business organization. To this end, they go over and above to help these executives connect with others in the same situations, thereby forming support networks and invaluable relationships that help them along their career journey.
Helps to Improve Thought Leadership
The coaching process helps an executive build or improve their thought leadership. As people grow in their careers, personal brand becomes very important. However, many executives do not have the energy or time to build a solid personal brand. One of the things that an executive trainer does is to help the trainee find and employ strategies that will grow their brand and visibility online.
Helps to Elevate the Executive Presence of the Coachee
Another thing that this program does is to hone the communication and influencing skills of the senior official. The trainer helps the trainee strategize on their presentation abilities, how they conduct one-on-one or staff meetings, and how they improve their executive presence in the firm.
Helps the Trainee Operate in their Competence
The area of competence or genius in this instance is Law. The trainer does not only concentrate on the weaknesses of the trainee but goes ahead to help them own their genius and harness it to the fullest. This means that an average attorney should expect to become an unbeatable law guru after a period of coaching, all thanks to the unlocking of their competence and area of specialization.
This translates even to personal life because the coachee becomes comfortable in doing what they know best and also exploring their best self.
Helps to Increase Self Confidence
When you come in contact with an effective executive coach, they help you develop your leadership and team-building skills. They do not necessarily tell you how to run your law firm or how to relate with your clients. The essence of the coaching is to help you build your self-confidence such that you overcome the imposter syndrome and confidently own your decisions and successes. You can learn more about imposter syndrome here: https://www.verywellmind.com/.
Conclusion
As a lawyer, you do not have to struggle to make your firm profitable; neither do you have to remain stuck in a legal niche that is no longer satisfying or profitable to you. We have shared some reasons why executive coaching is important and beneficial for lawyers. Note that these benefits are applicable to executives in all professions.