Why Thought Leadership Still Matters

why-thought-leadership-still-matters-in-2019

[[p]]The buzzword thought leadership has been thrown around so frequently that the term could be accused of being stale and meaningless.[[/p]]

[[p]]As Sangram Vajre Co-founder and CMO, Terminus explains in this [[a href="https://www.inc.com/sangram-vajre/3-reasons-you-should-never-call-yourself-a-thought-leader.html"]]article [[/a]]our mental fatigue may be&nbsp;related to its continued self- credited overuse on social media&nbsp;profiles and bios.&nbsp;[[/p]]

"The term "thought leader" is an attribution, a compliment that is earned and given to you, not something you type in a bio that's self-ascribed."

[[p]]However, when we remind ourselves of the term&rsquo;s original definition, it&rsquo;s easy to see why it has become used almost obsessively. And why it might need a refresh.[[/p]]

[[p]]In 1994, Joel Kurtzman, editor-in-chief of Strategy &amp; Business magazine, [[a href="https://www.forbes.com/sites/shelisrael/2012/03/05/what-makes-a-thought-leader/#447b12d45c45" target="_blank"]]coined the term [[/a]]to describe individuals &ldquo;who had ideas which merited attention.&rdquo;[[/p]]

[[p]]From this broad denotation, the term has taken on many forms.[[/p]]

[[p]]As &ldquo;thought leadership&rdquo; continues to become muddied, it&rsquo;s high time we outline how modern-day thought leadership matters for businesses in 2019.[[/p]]

[[p]]Jake Dunlap, CEO, and founder of Skaled, defines thought leaders as, .&rdquo;[[/p]]

[[p]]So, according to these sources, thought leaders are disruptors, great researchers and innovative thinkers who provide the future with a unique and impactful way of thinking.[[/p]]

[[p]]The foundation of thought leadership goes beyond the ego.[[/p]]

[[p]]It focuses on the [[strong]]deepest[[/strong]] responses to the biggest questions while meeting the ever-evolving needs of customers in a modern era.[[/p]]

[[p]]It&rsquo;s a pursuit that delves beyond growth and innovation, towards the betterment of the world at large &ndash;&nbsp;a job that doesn&rsquo;t stop at a single idea.[[/p]]

[[p]]Thought leadership illuminates the future with excitement and ideas that offer intellectual stimulation, inspiration and - sometimes - even a bit of discomfort in order to lead to change.[[/p]]

[[p]]Thought leadership matters because endorsing innovation and creativity creates a new outlook on not just an industry, but our whole society. It stimulates a reimagination of topics or issues that would have otherwise been left to become stale and shallow with no place in our ever-evolving world.[[/p]]

[[p]]A quick Google search will reveal the many definitions of thought leadership.[[/p]]

[[p]][[strong]]But which one do we follow?[[/strong]][[/p]]

[[p]]Here are two definitions we were particularly drawn to:[[/p]]

[[p]]In the words of [[a href="https://www.forbes.com/sites/shelisrael/2012/03/05/what-makes-a-thought-leader/#cfc8d775c45f" target="_blank"]]Shel Israel, a contributing writer at Forbes[[/a]],[[/p]]

A thought leader is someone who looks at the future and sets a course for it that others will follow. Thought leaders look at existing best practices then come up with better practices. They foment change, often causing great disruption.

[[p]]And Jake Dunlap, CEO, and founder of [[a href="https://skaled.com/" target="_blank"]]Skaled[[/a]], defines thought leaders as,[[/p]]

[Individuals] who draw on the past, analyze the present and illuminate the future to create a comprehensive, unique and impactful view of their area of expertise

[[p]]So, according to these sources, thought leaders are disruptors, great researchers and innovative thinkers who provide the future with a unique and impactful way of thinking.[[/p]]

[[p]]Despite its overuse, according to a [[a href="https://www.edelman.com/research/2019-b2b-thought-leadership-impact-study" target="_blank"]]2019 Edelman impact study[[/a]], 58 percent of all decision makers spend 1 to 3 hours reading &ldquo;thought leadership content&rdquo; on a weekly basis.[[/p]]

[[p]]That&rsquo;s because, like it or not, thought leadership is impactful, in 2019 and beyond.[[/p]]

[[p]][[strong]]1. Harbours Workplace Diversity[[/strong]][[/p]]

[[p]]A modern-day thought leader encourages workplace diversity which not only improves reputation but enhances the outputs of the company.[[/p]]

[[p]]According to the same study by Edelman, thought leadership is most [[strong]]credible [[/strong]]when it&rsquo;s provided by someone the prospect respects.[[/p]]

[[p]]There are plenty of people out there who have branded themselves as a thought leader.[[/p]]

[[p]]However, the truth is, it takes teamwork to create innovation. In fact, according to Entrepreneur, it takes [[a href="https://www.entrepreneur.com/article/196598" target="_blank"]]four types of people[[/a]] to make this magic happen:[[/p]]

[[ul]]
	[[li]]Creators[[/li]]
	[[li]]Advancers[[/li]]
	[[li]]Refiners[[/li]]
	[[li]]Executors[[/li]]
[[/ul]]

[[p]]While it takes a team to innovate, a [[strong]]diverse team[[/strong]] is required to make leading thoughts happen as it inspires innovation, faster problem-solving, and a variety of perspectives.[[/p]]

[[p]]In fact, according to a study by McKinsey &amp; Company, placing emphasis on diversity helps companies become [[a href="https://assets.mckinsey.com/~/media/857F440109AA4D13A54D9C496D86ED58.ashx" target="_blank"]]35% more likely[[/a]] to have financial returns above the industry median.[[/p]]

[[p]][[strong]]2. Motivates Discussions[[/strong]][[/p]]

[[p]]Criticism is an excellent indicator that you&rsquo;re doing something [[strong]]big.[[/strong]][[/p]]

[[p]]Think about it:[[/p]]

[[p]]If a piece of content is popular, chances are it&rsquo;s watered down crumbs of someone else&rsquo;s borrowed insight.[[/p]]

[[p]]As we&rsquo;ve seen from our chosen definitions, thought leadership is disruptive and true thought leaders are always introducing something new, something that introduces a novel way of thinking that completely unhinges the normal state of affairs.[[/p]]

[[p]]According to Forbes, [[a href="https://www.forbes.com/sites/markmurphy/2016/05/08/5-signs-of-high-emotional-intelligence/#38967e857e48" target="_blank"]]research shows[[/a]] a link between emotional intelligence and career success, and the #1 sign of this type of intelligence is people&rsquo;s ability to handle criticism well.[[/p]]

[[p]]If people are defensive towards content or ideas, it&rsquo;s because they&rsquo;re being forced to rethink a way they&rsquo;ve always known to be true. When backed by emotionally-intelligent individuals, thought leadership stirs conversation and creates a buzz around the idea and the company or individual who ignited it.[[/p]]

[[p]][[strong]]3. Promotes Helpful, Educational and Findable Content[[/strong]][[/p]]

[[p]]Thought leadership creates truly helpful and educational material as it focuses on innovative thought and embraces it from all angles.[[/p]]

[[p]]And [[a href="https://www.itsma.com/pdfs/research/ITSMAPersonasandB2I_AbbSum.pdf" target="_blank"]]according to ITSMA, [[/a]]customers are 48% more likely to consider doing business with companies that offer to address their specific business issues.[[/p]]

[[p]]When this leading material becomes findable online and is discussed with the [[strong]]right [[/strong]]audience, it transforms into a beacon of support for many individuals striving to accomplish something similar.[[/p]]

[[p]]Thought leadership creates personal and authentic material while tapping into meaningful options, themes, and issues that resonate with the company and customers.[[/p]]

[[p]]It recognizes that business is [[strong]]first and foremost [[/strong]]about enhancing an industry or the world at large - this creates content that is authentic and sought-after.[[/p]]

[[p]][[strong]]4. Helps Businesses Grow[[/strong]][[/p]]

[[p]]The process of developing a new perspective offers a chance to play with different ideas, separating itself from the mundane rigor associated with certain professional positions.[[/p]]

[[p]]This process and experimentation allow businesses to learn about their purpose on a deeper level, reflecting on both passions and imperfections. The journey then provides a clearer understanding of:[[/p]]

[[ul]]
	[[li]]What ideas have yet to be discovered[[/li]]
	[[li]]What the business offers in terms of talent and abilities[[/li]]
[[/ul]]

[[p]]This role as a thought leader is never finished. There&rsquo;s always room for growth and enhancement, experimenting and problem-solving.[[/p]]

[[p]]Think of [[a href="https://my.digitalmarketinginstitute.com/library/entry/as-netflix-continues-to-rise-the-svod-brand-competition-is-heating-up-s1t-a2r-h1t-a2r" target="_blank"]]Netflix[[/a]]. As a thought leader in its industry, Netflix continues to expand and innovate with an exact definition of itself, what ideas deserve attention and what its 140 million customers will love.[[/p]]

[[p]][[strong]]5. Ventures Outside the Corporate Box[[/strong]][[/p]]

[[p]]Genuine [[a href="https://hbr.org/2019/03/strategy-needs-creativity" target="_blank"]]thought leadership[[/a]] stimulates creativity.[[/p]]

[[p]]Some of the best types of creative inspiration begin by looking outside of the corporate box and towards the needs of others or the world at large.[[/p]]

[[p]]For example, [[a href="https://www.lemonade.com/" target="_blank"]]Lemonade[[/a]], the American insurance company offers insurance that &ldquo;doesn&rsquo;t suck&rdquo;, offering an insurance model that is reversed.[[/p]]

[[p]]The company saw something their audience and world needed and worked towards changing the idea of insurance altogether to make it affordable, simple, and extremely fair.[[/p]]

[[p]]Thinking outside of a normal standard creates an operation that is of service to others, rather than for one&rsquo;s reputation which always intensifies the amount of impact it provides.[[/p]]

Why Thought Leadership Still Matters

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