The business side of thought leadership | Stephen M. R. Covey | 385

Many thought leaders start with speaking, consulting, and creating content. They love their insights, and want to share them - but they don't always stop and think about their business model. What products will you offer? How will you market them? What kind of ROI, KPI and other metrics will you use?

What would it be like to start on the business side, before stepping out with your thought leadership?

We are thrilled to have Stephen M. R. Covey join us again on our podcast. Stephen is the co-founder of Covey Link and Franklin Covey, the bestselling author of The Speed of Trust, and a global authority on trust, leadership, and culture. Stephens’s incredible career can be divided into two acts: first, as a leader on the business side of operations, he was charged with figuring out how to scale and leverage the work of his father Stephen R Covey; then, he stepped forward to share his own thought leadership alongside the gold standard his company achieves.

Stephen explains his realization that thought leadership practitioners don’t have to choose between impact and income. By aligning the two, and focusing on the audience that would benefit most from your insights, you can have great ideas and make money

Over the years, Stephen has watched the industry move from analog to digital and has continued to be at the forefront of change. We discuss the forward-thinking ideas he had during the analog years (creation of certifications and train-the-trainer), and talk about the challenges and successes involved with staying at the top in this digital world. Stephen also shares his reasons to believe that intellectual property will always be the underlying engine of any platform or medium.

We wrap our conversation by discussing Stephen’s new book, Trust and Inspire. Stephen enlightens us about how little leadership has changed from the industrial age. While we have polished and refined the system of “Command and Control,” today’s environment requires more. Stephen gives us a rundown of his new system, what “Trust and Inspire” looks like, and why it's more complete and robust way of leading is more relevant in today’s workplace.

Three Key Takeaways:

*             The primary goal of thought leadership should always be the mission. Balance the scales between margin and reach, and don't lose sight of the mission.

*             Even if you believe that your insights are for everyone, don't overreach. Focus on your most integral audience, and create a profitable core before reaching out to a broader field.

*             When the market wants something - give it to them!