Category Archives: Business
The dilemma is “To do an MBA or not”.. What better way to find an answer than by looking at this good infographic on ROI (Return of Investment) of an MBA course Agree? Disagree? Leave a comment to let me know
There are some buzzwords which will not go out of fashion in the business / corporate world. “THOUGHT LEADERSHIP” is one of them. When I first heard the word more than a decade ago at the start of my professional career, I was in “awe” as the word sounded important and impressive.
My first thoughts were “Don’t we all have a zillion thoughts zooming in our minds every single day, so what qualifies for thought leadership? How can anyone demonstrate leadership with their thoughts? Who decides that it is thought leadership? How does one demonstrate thought leadership?”
With time and experience, I found these answers. Today, “Thought Leadership” is an integral part of my professional responsibilities.
And here’s the thing|
1) It is still in vogue to be associated with this “T” word or / and have it in your professional resume
2) It is still important and impressive to an individual / organization
According to Wikipedia, the term ‘Thought Leadership’ was coined in 1994 by Joel Kurtzman, editor-in-chief of the Booz & Co magazine Strategy & Business, and used to designate interview subjects for that magazine who had business ideas which merited attention
“Thought Leadership is simply about becoming an authority on relevant topics by delivering the answers to the biggest questions on the minds of your target audience.” By Michael Brenner
I think Thought Leadership is many times about asking the RIGHT QUESTIONS too. In fact many times the questions are more important than the answers – as they get one to think and provide the direction for your strategy and plans.
“Thought leadership should be an entry point to a relationship. Thought leadership should intrigue, challenge, and inspire even people already familiar with a company. It should help start a relationship where none exists, and it should enhance existing relationships.” By Daniel Rasmus
I fully concur with this definition. The only thing is that very many times “Thought leadership” is incidental or accidental, and consequently so are the relationships which is possibly and probably not a good space / place to be in for any business.
According to a Forbes article,
“A thought leader is an individual or firm that prospects, clients, referral sources, intermediaries and even competitors recognize as one of the foremost authorities in selected areas of specialization, resulting in its being the go-to individual or organization for said expertise.”
“A thought leader is an individual or firm that significantly profits from being recognized as such.”
I agree with this view. The most challenging part is to become a Thought Leader, or the big HOW? I’m not so sure if Thought Leadership always results (directly) in increased profitability. It can – provided it is marketed / positioned well, and reaches the right audience / reader.
Wikipedia says that “Thought leadership is often used as a way of increasing or creating demand for a product or service. High tech firms will often publish white papers with analysis of economic benefits of the product as a form of marketing”
Agreed! It is really about putting your voices and views in the marketplace and promoting it on multiple online / offline channels that your prospects view.
Why is Thought Leadership important today?
Simply because it is a competitive marketplace and every individual / organization has several thoughts on a periodic basis. Establishing “continuous leadership” on your thoughts is a direct testimonial to the kind of team that you have and a clear ‘market message’ that nurturing and sharing these thoughts is important to you / your team and your organization. Thought Leadership can sometimes be your one and only “key differentiators” in the GTM (Go-To-Market) Strategy. Hence it is imprative for organizations to build, nurture and demonstrate “Thought Leadership”
How to demonstrate Thought Leadership?
With your content. With you communications. With your conversations (online / offline)
Who should drive Thought Leadership?
The beauty of Thought Leadership is that it
Integrates with a SME (Subject Matter Expert)
Integrates with content and social media functions
Integrated with marketing functions
Integrated with Leadership
And so it really is a collective collaborative constructive responsibility of an individual / team / organization to showcase / demonstrate Thought Leadership over a period of time.
And lastly who determines it to be “Thought Leadership”?
This is a tricky one since it depends on who is the addressable market for your offerings / solutions / services / products and who is the (potential) target customer. What may be “Thought Leadership” to one may not be “Thought Leadership” to another. The point is that there should be an “industry / community / group” of experts who “publicly” ratify a thought as “Thought Leadership”…
Agree / Disagree? Leave a comment to let me know
The decision or choice to be an entrepreneur is no easy one (usually).. – whether you are a new kid on the block or you’ve had a corporate career for some (or large) part of your life.And yet, I increasingly read see and hear of so many people taking the deep plunge into entrepreneurship..
I always wondered “Why entrepreneurship?“…And I discovered 36 compelling reasons
(1) To create something new / unique / innovative
(2) To have a fair chance to make money that a corporate job can probably never really pay you
(3) To fell the thrill / high of building a new business / enterprise (This is very different from 1 above)
(4) To be your own boss
(5) To get away from your current boss / company / life
(6) To work on a purpose larger than yourself / life
(7) To generate employment and improve the quality of life for someone somewhere
(8) To work wholeheartedly on something that you are deeply passionate about, and strongly committed to
(9) To create wealth
(10) To experiment with something you’ve never done before
(11) To fulfill a dream
(12) Entrepreneurship is in the blood ; They can’t / won’t do anything else
(13) To lead from the front (really from the front)
(14) To make life worthwhile
(15) To truly solve a problem / market need
(16) To make life easier for someone somewhere
(17) To address a higher calling
(18) To challenge yourself, and push the envelope
(19) To be in control of your life – and not dependent on someone
(20) To live a life (style) that you’ve always desired
(21) To be in full-control of your time at work
(22) To take-over the family business / set-up
(23) To be in power, and to have the power to control, influence and determine the outcome of a zillion things
(24) To build / create / groom / mentor individuals ; a great opportunity to do it your way
(25) To prove a point – to yourself or someone else
(26) To dis-prove a theory / hypothesis / widely held popular belief. For e.g.: He / She can never be an entrepreneur
(27) To find a way to do something better / faster
(28) To pioneer the way to do something in a cost effective manner
(29) To settle past scores with someone. Sometimes jealousy or revenge are the cause for one to embark on entrepreneurial ventures
(30) To heal wounds of the mind and heart; To some entrepreneurship is therapeutic I’m told
(31) To do something worthwhile / productive with your time, skills and knowledge
(32) To pay the bills and put food on the table
(33) No one else is ready to employ / hire you :(
(34) To make a difference in someone’s life
(35) To maximize usage of both sides of your brain :) – Entrepreneurship needs optimal usage of the left and right side of the brain. Ample role of creativity and logic
(36) To leave a legacy which your forthcoming generations will be proud of
Did I miss any? Leave comments to let me know
This week at work has been a lot of creating marketing assets and planning an integrated marketing campaign. Suffice to say, it was busy and I don’t know how time went by. The one point which was much debated and discussed was COLORS!! :)
I can’t emphasize the role importance and significance of colors in any communication, and more so if it is a marketing related corporate communication. Colors can be the one and only reason why you and I read something or not, why I feel or think something after we read a specific communication. I guess it is the same for you..
So on my (delayed) post for this week, I’m going to share with you some of interesting and insightful points on the “world of colors”.
ONE COLOR can MAKE IT / BREAK IT.. Agreed?
Social Media is everywhere. In the morning news, in the paper, in the bus / train / car, in the clothes, in the phones, in the here and there and everywhere. Almost everyone I know thinks Social Media is the new age God / Goddess if you will. The mantra (or myth) is that if one embraces Social Media, then it is one step in the right direction, specially in a business context.
And yet, so many companies make some very fundamental social media mistakes. So what are those mistakes that i’ve heard or seen. Are you making them too? Read below to figure it out
(1) I hear about Social Media buzz, I sparingly use Twitter / FaceBook, I can speak about Social Media without sounding like a fool.. BUT I don’t REALLY UNDERSTAND Social Media. Please go take a Social Media 101 class
(2) I’m sure Social is key for my business because everyone else is doing Social. Really? Please re-think
(3) I’m sure that Social Media Marketing would be effective for my business, but I’m not really sure who my customers are and if they are active on Social Media. Really? Go check how you’re making money. Once you know your customers, ask / find about their social media presence
(4) I don’t know if Social Media is right for my business. Read the article on How to determine which Social media fits your business
(5) I don’t really know what and how to measure on Social Media. Go figure
(6) I need to hire a very social person to handle my Social Media business. No! Virtual social is very different from the real-world social, and they can be at two ends of the spectrum
(7) Social Media Marketing is free. No! It takes time and Time is money, remember?
(8) Spending lots of time on social media means I’m doing it right. Quantity and Quality are two different things right?
(9) Social Media Marketing is about putting someone all the time on Social media. Oh! No not really! They should be doing the right things on social
(10) It is better to be in Social Media and do something than not be on Social Media. Hmm.. Well debatable! But if you’re there, you better do something right. If you get it all wrong, then you’re better off not attempting Social