At the Thinking Ahead Institute, we are “motivated to influence the investment industry for the good of savers worldwide” and “harness the power of collective thought leadership”. As a fairly new addition to the team, I found myself wondering about thought leadership in practice – ways to do it, its effectiveness and the value that can be gained.
Thought leadership is a concept often used in the business and professional world to describe individuals who are recognized as experts in a particular industry or a subject. In the age of information that we are living in now, however, establishing yourself as a thought leader means navigating a vast and dynamic landscape and it is much more than just having knowledge. Thought leaders are known for their innovative ideas, insights and perspectives on important topics, and would have a degree of influence on people around them.
Below are just some of the key ingredients to becoming that authoritative voice in your area of expertise:
- Self-awareness
“Knowing yourself is the beginning of all wisdom,” said Aristotle. Pinpointing the area of intersection of what you love, what you are good at and what the world needs is the first fundamental step in the thought leadership journey1.
- Consistency
A thought leader would be expected to have a clear, authoritative point of view on their chosen subject2. Consistency in finding your specific message and sticking with it is critical for building trust and becoming a recognised voice people can look to.
- Innovation
Innovation is at the heart of thought leadership. To establish yourself as a thought leader, you would need to be introducing new concepts, technologies, or approaches for the advancement of your field. Having knowledge is a good start, but finding novel solutions to challenges is the key aspect of thought leadership.
Value and purpose of thought leadership
The purpose of thought leadership is multifaceted. It can help individuals and organisations to build credibility and trust with consumers3, it is tied closely with content marketing, and it is likely to generate wider networks and relationships within a given industry.
Importantly, thought leaders play a crucial role in educating the industry and contribute to the overall development of their field. They are often responsible for shaping industry opinions and can drive positive change.
The differences (and similarities) between thought leadership and influencing
With ‘influencer’ now being a popular career choice, it was important for me to establish the distinction between influencing and thought leadership. They do share some similarities, as both involve having an impact on the opinions of others, but there are key differences in their focus and approach.
So, while thought leadership and influencing are related concepts and overlap in strategies, they differ in their purpose and goals.
In conclusion, thought leadership takes time and consistent effort in producing high-quality content, engaging with the audience, and staying current with industry trends. Navigating the complexities of the changing world around us is challenging and thought leaders can provide direction through diverse perspectives and willingness to challenge the status quo. Thought leadership is most inspiring when it is not just about individual success, but about creating a ripple effect of positive change that extends throughout the industry. Its real value is in the long-term impact in shaping the future of industries and societies.
1 Thought Leadership: Self-awareness and wisdom, Jose Noguera https://www.linkedin.com/pulse/ep-58-thought-leadership-self-awareness-wisdom-jose-noguera
2 Forbes, “11 Actions To Take Today If You Want To Become A Thought Leader” https://www.forbes.com/sites/theyec/2020/09/09/11-actions-to-take-today-if-you-want-to-become-a-thought-leader/
3 Edelman, 2021 B2B Thought Leadership Impact Study https://www.edelman.com/sites/g/files/aatuss191/files/2021-09/2021_EdelmanLinkedIn_B2B_ThoughtLeadershipImpact.pdf