Why Be(com)ing a Trusted Authority?
Why Be(com)ing a Trusted Authority?
If you’re 30 and over, I’m sure you grew up with the mindset that a good education is not only key but your insurance to a safe and well-paid job.
At least, that was my experience. Neither of my parents went to university because it was beyond their parents’ means so they always made me believe that having a uni degree means you belong to the elite group and the top jobs will come knocking on your door. Well - that not only wasn’t the case back when I graduated from uni and it is even less the case in today’s economy, with Less hierarchical structures and senior roles.
Especially over the last 2 years, when Covid-19 hit and a large number of the workforce wasn’t only stood down or their role was made redundant which forces them to rethink their careers but also was a big realisation for many that they don’t want to stay in their role, in their profession, industry or in the corporate system fullstop.
That means, more highly experienced professionals exit the corporate world and enter the gig economy. But that’s not even it. With more technology all around the world, we don’t just have local competition anymore. We’re competing with a global workforce where there will always be someone who’s more qualified than us, more experienced than us, who has more degrees, certifications and awards and highly likely can also do what we do cheaper and faster.
That means simply competing on credentials makes us a commodity and puts us straight to tthe bottom of the barrel.
So how else can you create a career where you not only control what you do and how but also determine the level of income, impact and fulfillment? Of course!
By becoming a trusted authority.
The word ‘trust’ is an important distinction because it means being an authority by choice, not by title. And that is so important given we can’t rely on staying in a company forever to eventually land the senior role, we don’t need to be part of a reputable brand to be recognised and respected and if we want to pivot down the track, for whatever reasons, we can because people know us for more than just our credentials and titles. They know us for our story, our characteristics, our promise we can make.
Ok- so far so good Now we know the logical reasons on why becoming a trusted authority should be on your radar. But let’s talk about the real benefits of it, the advantages that you can enjoy when you have this status.
1. It allows you to build a career on your strengths. When you’re clear about what value you not only can but thoroughly enjoy delivering, to whom and how, you determine the format of what your career should look like. If you enjoy speaking and teaching, building educational products like workshops, keynotes and courses would be a good business model. Maybe you don’t enjoy showing up live and the presenting part but you really enjoy working with a handful of clients, business or projects on a very intimate consulting level. Or you have no intentions of leaving corporate ever but you do want to get a table on a reputable board or add guest lecturing at universities to your portfolio career. As Trusted authority - you take the shots
That leads us into the next advantage:
2. You can enjoy effortless forward motion aka less chasing, more attracting.
As Trusted Authority you’re known for what you know, not what you do. Big part of building your authority status is to be able to articulate how you can solve the problem and be visible to the right decision makers. I always say ‘when you can’t be found, you can’t be considered’ which means that simply getting visible in front of the right people, for the right reasons and with the right approach opens doors that you often can't even think of yet.
That’s the beauty of sharing your knowledge that people will see you, recommend you and reach out to you rather than you having to chase them. It’s always harder when they haven’t had any interactions with you and cold contacts take a lot longer to convert in one or another way. You’d have experienced that also with applications - if you’re known because you have a strong online presence and/or a good relationship with the recruiter, you’re more likely to be contacted than someone who pops out of the blue with little to no social proof and digital footprint.
But it doesn’t stop there! Because once you’re being contacted, you’re in the driver’s seat and have a lot more input what the engagement, whatever it may be, could look like and it brings us to our next benefit:
3. You have the ability to influence.
One of the biggest differences between an expert and an authority is the ability to communicate not only the results you can deliver in a way that resonates with your decision maker but also can explain how you get there. Experts know how to solve a problem, they dive straight into solving it. An authority however, is able to explain the process to go through, uses stories, metaphors and similes that are relevant to their decision maker. An authority has the confidence in delivering not only repeatable outcomes but predictable ones. Because they’ve systemised their knowledge in a way that is easy to follow for others. Having this so called signature framework, system, process or method is also what makes you stand out in any interview or pitch situation but also that builds the foundation for our next advantage:
4. You can monetise your branded IP through a diversified income portfolio.
Whilst an expert comes in to solve a problem and their success is dependent on their actual delivery, aka their hands to create the outcome, an authority builds a system that is based on their own intellectual property and the sum of all their years of experience, expertise, education and packages it up in a message that lives beyond them. It could be through online courses, coaching programs, books, templates etc. This is where leveraged income streams come in. But no one starts there, it’s a gradual build up and of course, you first need to be an expert in your field, meaning being able to create results, have a track record of delivering those and then take all those learnings and package them into a framework that is easy to follow, easy to communicate and easy to implement. At the time of the recording, I have 11 income streams, some are bigger than others but they are all connected somehow. For example - when a company books me for a keynote for their conference, they usually buy a copy of my book to send to the participants and from speaking to a group, there are at least 2-3 executives who want 1:1 coaching. When they experience the difference, they usually get me to work with their teams. So that means I already have 4 income streams although the book part is neglectable. The revenue from book sales certainly wouldn’t enable me the lifestyle I have and want in future and that was never the intention. But the ideas, insights and frameworks i’m sharing are all very similar. The difference is the depth and intensity those people work with me. Addressing a room with 100 executives, you of course don’t get personalised support. This is why selected people reach out from there who realise that this is exactly what they need to progress.
That’s just one of a few ways I can multiple my income streams with the same or very similar content. But having diversified income isn’t the only advantage of being able to systemise and communicate your knowledge which leads me into the next point:
5. The idea and concept I cover makes people think differently and that has a ripple effect on their teams, peers, families and eventually industries.
An authority leads a conversation that is relevant to a certain audience and/or addresses a particular issue and is also recent, meaning: it connects proven systems, frameworks, learnings, approaches and experiences with current events, challenges and trends whilst continuing to explore new and different ways of solving a challenge. An authority is never done mastering their craft. Authorities are life-long learners because they realise that their best thinking 5 years ago is now their biggest baggage. This is the exciting part for me because it ‘forces’ me to stay curious, challenge my own status quo and approach and refine as i go.
This is also what I want to share with you which is why I never hold back with behind the scenes insights, and sharing stories where things didn’t quite go as planned. There is no end-result. Your goal posts shift as you grow and that’s a good thing.
Yes, of course you’ll face imposter syndrome, more than you can ever imagine but that means that you experience growth. You can’t know yet what hasn’t been discussed or discovered. It’s an iterative approach and also takes other people’s insights into consideration.
