Influence is the new capital.
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Just as a financial investment can help you grow your business, investing in yourself as a thought leader can bring returns in material ways you might not imagine.
In essence, influence is the new capital, fueling the growth of your personal brand and your authority, which in turn makes your business stronger.
And one factor that makes establishing your influence as a thought leader even more powerful today is the presence of artificial intelligence and the doubts it raises in people about what is and is not authentic. The paradox is that AI supplies us with an abundance of information that has led to a scarcity of trust. People look at all that information and they’re unsure what’s real, what’s credible, and what’s trustworthy.
That provides an opening for those who want to establish their thought leadership because the world needs trusted guides who can help people discern what they can trust. When you share your experience and expertise with the world — and you build a track record of giving good advice — you begin to build trust and your business benefits in many ways.
The key, of course, is to be authentic and to connect your expertise to real-world situations people face. As a thought leader, you can define a problem for people that you are equipped to solve. In doing so, you instill more interest in people who previously weren’t aware of you or, in some cases, weren’t even aware they had a need you could assist them with.
Recruiting and Retention
Your status as a thought leader can also improve employee recruiting and retention efforts.
One example of this is Brendan Keegan, a successful CEO who has authored three books through my company and has promoted his thought leadership through other efforts as well.
Brendan measures results in myriad ways, and one is an outsized ability to attract top talent. On one occasion, Brendan was speaking at his sales team’s conference, and as part of the introduction, the sales leader compared the thought leadership share-of-market across major peers in addition to then-CEO Brendan. After he spoke, a number of people approached him to say they had joined the company because of their awareness of his thought leadership, and they wanted to work for one of the leading visionaries in the industry.
Opening Doors to Opportunities
Thought leaders never know who might take notice of their work and the doors that can be flung open as a result.
You may see an increase in the number of opportunities to speak before groups that could benefit from your message. You could be asked to join a university’s faculty or become part of a prestigious corporate board.
But as is the case with a financial investment, the return on influence doesn’t necessarily manifest itself overnight. How quickly you see the rewards will depend on three primary factors that are in your control to influence.
One of those is the level of authority and credibility you have today. In other words, your starting point. What is the size of your audience right now on social media or for a newsletter? Is your credibility as an authority in your field validated by third parties, such as media outlets that have featured you or quoted you in articles or news reports?
Also, what are you doing to build your credibility? Are there certifications you can achieve that will add to that credibility? Are you making optimal use of the available platforms — a personal website, social media channels — so that people see you as someone who is engaged and willing to share their knowledge?
A second factor is making sure the insights you offer are visible and landing with your audience. Thought leadership requires a different mindset; instead of trying to sell, your goal is to teach and share your experience and knowledge. Your message should help your audience solve their greatest challenges, and you should offer a perspective that isn’t a repeat of what they already know. And, of course, being trustworthy. Make sure your actions and words are consistent so that expectations are aligned.
A third factor is the time and effort you are willing to invest. Authority doesn’t just happen. It takes work. If journalists or podcasters want to interview you, you must set aside time for those interviews and give them high priority. Speaking engagements take time and may require travel. Writing a book in which you share your wisdom takes a significant amount of time, even if a ghostwriter assists you. That ghostwriter will need to speak with you on a number of occasions to gather information about your experiences and the advice you have for readers.
If you don’t have the time to produce content for your website and social media sites, are you willing to partner with someone who can help you keep those platforms active? You may need to fill the gap between what you have the knowledge and inclination to do on your own, and what you can partner with others to help you achieve. The decision on doing it yourself or seeking help will depend on your priorities and how far you want to go. But that old rule comes into play that says when you are balancing cheap, fast, and easy, you can only have two of the three.
Ultimately, an investment in authority can enhance your influence, which will, in turn, bring experiences and opportunities that previously seemed beyond anything you might have envisioned.