Professional Development

Prepare Yourself to Be a Thought Leader

Thought Leader Accounting

A though leader is basically someone who is well-known in a specific area/expertise within their industry. The basic criteria for being one is offering value to your target market audience – you need to understand your market’s pain points to be able to engage your audience. The best way to do this and get your thoughts out there for the world to see through the web.

Demonstrating your knowledge of industry trends brands you as an expert and will make you stand out in the crowd. Below are reasons why becoming a thought leader should be a high priority in any industry:

1. Helps get more business

If your clients fall in love with your unique approach to solving their problems, the price factor doesn’t exist anymore. A unique and compelling offering can command a high price. For instance, just look at what Apple charges for an iPad in comparison with what Amazon charges for its Kindle, or what the competing tablet computer makers charge for theirs. This works the same way in professional services and other B2B businesses.

2. Helps reduce competition, if not eliminate

When a firm creates a poignant point of view on an issue, it does so by redefining the problem and offering a novel solution. By persuading your audience that the traditional ways of solving a business problem are now insufficient, you will have eliminated many of your competitors (sometimes all) from consideration.

Real thought leadership helps reshape a business issue and offers a completely offbeat solution that yields smart results. If it’s radically different, it means you are the only one who can solve it your way (for now at least, until others catch on).

3. Boosts morale

It’s nice to be appreciated for one’s skills at work. In the minds of your target audience, thought leadership raises your IQ by 50 points. (I didn’t say this, personal computer pioneer Alan Kay once stated something to this effect.)

So, if you are able to add value to someone’s decision or contribute to a business’ growth, it is obvious people are going to look up to you – thereby boosting your morale and giving you a sense of contentment.

But please note that becoming a thought leader is not an overnight job. It takes a lot of hard work and time to establish yourself as the “go-to” person in the industry. Be patient and think of it like training for a marathon or learning a new skill. It will take time but the rewards are most certainly worth it.

Laurence is a manager at QX Accounting Services & Founder of Accounting Leaders. QX Accounting offers outsourced accounting services, tax return preparation, bookkeeping and payroll compliance for small to medium sized accounting firms. Laurence focuses on freeing up small practitioners in order to get them to focus on growing their practice.

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