Large firms don’t have a monopoly on good ideas

By Rhea Wessel

If you’re a small business owner or startup, you may find yourself wondering how to compete with the bigger players who have more resources and larger marketing budgets.

The answer lies in making use of one of your most valuable assets—your firm’s unique knowledge and insights—to create thought leadership that will differentiate you from larger competitors.

In this article, I’ll share how small firms can identify their best ideas and refine them into thought leadership content that positions you as an industry authority.

Why This Matters to Me

No matter the size of your firm, everyone is always facing a more well-resourced competitor. But that doesn’t mean they have a monopoly on great ideas.

In fact, being part of a smaller, more agile team can allow you to innovate quickly, respond to market needs faster, and connect more personally with your audience.

To be able to identify and share your unique insights is more a matter of skill and process than resources. For me, it’s important to help people understand that and to use the advantages they have.

No one is stopping you from creating content that resonates with your audience on a deeper level—content that the bigger firms can’t replicate because it is based on your distinct experiences and expertise.

How to Identify Your Firm’s Best Ideas

How do you identify the ideas and knowledge that truly set you apart?

For starters, you can?ask your clients. Don’t underestimate the power of direct feedback. Engage with your clients and ask them why they chose to work with you and how you’ve made a difference. And then dive into their needs. The solutions you have to offer can be fodder for thought-leadership content.

Another idea is to get a writer or comms professional to interview you?about your thinking and current understanding of where the market is going. Choose a skilled interviewer who can dig for a salient kernel of insight.

Record the interview and then harvest the transcript for anecdotes, quotes, posts and as the basis for an article.

Developing a habit of brainstorming and writing?will also boost your output of ideas that can serve your clients. Consider reserving a dedicated time each week to devote to your thought leadership and idea production. You can see this time as your mega-batching time for idea generation. Use tools like charts, lists and mind maps to get the creative juices flowing and get your ideas out of your head and into words.

These are things I discuss in my book, Write Like a Thought Leader. In fact, the ideas that I present in it come from my years as a writer plus the charts, lists and mind maps I used to externalize my thinking and make it clear and actionable for others.

The qualities of a good idea

During your ideation sessions, realize that you’re trying to give voice to something that is as-yet unarticulated.

And understand what makes a good idea good.

Here is how I define one:

Good ideas are new.

They’re clear and easy to grasp.

They are something you can use immediately or almost immediately.

Typically, good ideas are short.

And a good idea gives you a shot of dopamine when you hear it for the first time. Wow! Now that’s a thought!

Finally, don’t wait for inspiration to strike between meetings. Set up systems and processes to actively mine the wealth of insights that already exist within your business.

Your most valuable ideas are often the ones that come from the everyday work you and your team are already doing. These are the ideas that are born out of solving real problems for your clients, the insights that come from repeated successes, and the lessons learned from failures.

Becoming a Small Giant

Once you’ve identified some good ideas to work with, the next step is to refine them. This is where you turn raw insights into polished thought-leadership content that stands out – even against those competitors with more resources.

By systematically identifying your firm’s best ideas, refining them, and strategically packaging them into content, you can punch above your weight and stand out against larger competitors.

As a smaller firm, you have the advantage of agility, intimacy with your client base, and the ability to offer fresh perspectives. Embrace these strengths, and use them to carve out your niche as a thought leader in your industry.

The key is to start small, be consistent, and always focus on providing fresh thinking to your audience.

And remember, the journey to becoming a thought leader is a marathon, not a sprint. It’s about building trust and authority over time, one piece of content at a time.

-Rhea Wessel is a writer and founder of The Institute for Thought Leadership. Her new book on using AI to boost your thought leadership is due out in 2025.

-Check out our coaching packages?and workshops for your company.