The basic criteria for being a thought leader is offering value to your target market audience. You need to understand your market’s pain points to be able to engage your audience. And what better than the web to get your thoughts out there?
Demonstrating your knowledge of the industry trends brands you as an expert and will make you stand out of the crowd. Here’s why becoming a thought leader is such a hot property in any industry:
1. Helps get more business
If your clients fall in love with your unique approach to solving their problems, the price factor doesn’t exist anymore. A unique and compelling offering can command a high price. For instance, just look at what Apple charges for an iPad in comparison with what Amazon charges for its Kindle or what the competing tablet computer makers charge for theirs. This works the same way in professional services and other B2B businesses.
2. Helps reduce competition, if not eliminate
When a firm creates a poignant point of view on an issue, it does so by redefining the problem and offering a novel solution. By persuading your audience that the traditional ways of solving a business problem are now insufficient, you will have eliminated many of your competitors (sometimes all) from consideration.
Real thought leadership reshapes a business issue and offers a completely offbeat solution that yields smart results. If it’s radically different, it means you are the only one who can solve it your way (for now ‘til others catch on.
3. Boosts morale
It’s nice to be appreciated for one’s skills at work. In the minds of your target audience, thought leadership raises your IQ by 50 points. (I didn't say this; personal computer pioneer Alan Kay once said something to this effect.)
So if you are able to add value to someone’s decision or contribute to a business’ growth, it is obvious people are going to look up to you – thereby boosting your morale and giving you a sense of contentment.
But please note that becoming a thought leader is not an overnight job. It takes a lot of hard work and time to establish yourself as the “go-to” person in the industry. Be patient and think of it like training for a marathon or learning a new skill. It will take time and the rewards are most certainly worth it.
In the next article, we will discuss how you can start the process of promoting yourself and building your personal brand. Stay tuned.