The value of being a thought leader and how to become one

Thought leader is an industry-wide buzzword that many want to claim. Every business and C-suite executive wants to be seen and known as a valued and trusted authority within their industry. Below, we explore the ins and outs of being a thought leader, the value of the practice in business, and why and how you can implement it and use it to take your company to new heights and unchartered territories.

What is thought leadership?

The term “thought leadership”, coined by Henry Ward Beecher, first made its introduction in the business language in 1887. The phrase has shifted over the years but today, Joe Kurtman’s definition, “A thought leader is someone who has a deep understanding of the business, are recognised by peers, customers, and industry experts as someone who deeply understands the business they are in, the needs of their customers and the broader marketplace in which they operate. They contribute original ideas, unique points of view, and new insights,” has been widely accepted.

Simply put, thought leadership is offering answers to some of your industry’s biggest questions, and giving unique viewpoints on issues challenging the marketplace. It’s when a business executive or organisation is accredited as being a leader in their industry and their input, expertise, and opinions are esteemed.

The advantages of being a thought leader

Thought leadership is a solid marketing strategy that gets you closer to your audience and customers. It’s a way that allows you to share your insights in articles, blogs, business publications, podcasts, and more. Because of the audiences these platforms target, your voice is heard across different sectors and adds value to your business.?

In a nutshell, thought leadership:

• Builds and improves brand awareness
• Fosters customer loyalty
• Strengthens your position in the industry
• Boosts your credibility
• Encourages forward thinking
• Assist with lead generation and driving traffic to your online platforms

As a thought leader, you set yourself apart from other organisations. It’s possessing influence and using your position to benefit a cause, group, or business.

The challenge of thought leadership

Being considered a thought leader is an enviable goal for many individuals and organisations. But putting yourself, your ideas and new ways of thinking can come with detractors, those who argue against your approaches and disagree with your perspectives. Here, you need to be prepared to defend your position and exude confidence in your ideas that will encourage hard conversations and challenge the way things have always been. If you can stand firm through the pushback, you set yourself up to a status level that will inspire change and other leaders.

Tips to develop yourself into a thought leader

Becoming a thought leader is a long-term process that doesn’t happen through one viral video or blog post. You don’t need to be a Steve Jobs to be regarded as a thought leader, but you do need to lead. It needs a strategy, commitment, and dedication to creating a public image and proving yourself as a reliable leader. Here are several recommendations to help you develop yourself into a reputable thought leader:

1. ? ? Find your area of expertise

You need to discover your niche and area of expertise and become an expert in the field. This requires time to learn more about the industry, experience in knowing and understanding how it operates, and the challenges it faces. This will give you the authority to speak on and about the industry.

2. ? ? Know your audience

Before sharing and putting yourself out there as a thought leader, you need to conduct market research to understand who you will be speaking to – who your audience is. Publishing content is great, but you need to make sure it gets in front of the right audience so that it’s effective and serves the purpose. Knowing your audience will also guide you in creating the right content.

3. ? ? Quality over quantity

You need to focus on producing quality content and thought pieces over having lots of content. As a thought leader, you are a specialist in your field, which means you don’t talk about everything at any given opportunity. Instead, you are specific, consistent and conduct yourself as a consummate professional and share your knowledge on similar platforms.

4. ? ? Knowledge is key

You can’t stop learning. Industries and marketplaces are constantly changing and likewise, you need to monitor industry developments, remain informed, and be part of contributing innovative plans and solutions. You can do this by keeping up to date with your skills , subscribing to newsletters and industry platforms, keeping track of the market, and knowing whom other industry thought leaders are and what they’re saying.

5. ? ? Keep learning

Thought leaders, as the name says, are leaders and as such must possess or keep working on developing leadership skills , qualities, and their own leadership style. It’s helpful to meet and connect with other leaders, and learn from them, their mistakes, and wins. This way, you expand your knowledge and gain insights and perspectives that will prompt conversation and change in your field.

Thought leadership allows you to not just be a part of the conversations but to initiate and lead them. Either as an individual or organisation, you build a strong reputation amongst competitors and establish yourself as a solutions-driven business by creating and delivering original, purposeful, high-quality, and solution-based content to clients, customers, and the industry.