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business opinion - Wish Group

Is There A “Give Up” Point?

By Comments & Opinion, Business Insights No Comments

virgin-galactic-crashSomething that really struck a cord with me was the news about Virgin Galactic’s failure of their SpaceShip2. The story itself is really tragic, and ended with the death of one of the pilots. There is a lot of speculation on what exactly went wrong, but that doesn’t matter. In the end, pioneering this new field of Space Tourism will continue to be inherently dangerous. Should they continue with this work though?

A gut reaction is to say “no, they should obviously stop with this because it’s too dangerous.” But Virgin Galactic remains undeterred, and will in fact continue forward with their company. Personally, I agree that they should continue as well. Space travel being dangerous is nothing new. In fact, earlier last week saw another spaceship malfunction too, which was luckily unmanned but still could just have easily ended in tragedy and ended up costing millions. NASA, of course, will continue their work despite the loss of the scientific equipment and resources.

Commercial space flight seems extremely dangerous, but it’s far too simple to forget that commercial airline flights took years of trail and error as well to get to safe standards. Even then, there are still unfortunately accidents involved with there flights, as pioneering commercial flights took plenty of years of persistence and unfortunately there were good pilots lost to reach the formula to what we have today. The same principle applies to the automotive industry, as accidents were a regular occurrence when cars first appeared and there were many civilian casualties in the process.

The fact that this sounds cold isn’t lost on me, but hear me out. Virgin Galactic is on the forefront of this industry and truly pioneering what’s to be expected in the future. Science fiction stories have romanticized what space travel could look like centuries away, but we have many years until we reach that point – if we ever in fact reach it. We are going to have to put up with the grim reality that if we seriously want to take a stab at making space tourism and commercial space flight viable, there are bound to be more casualties. Is it worth it? It may be a tough pill to swallow and face, but throughout history there’s always a tough road with tragedies, but in order to make progress it’s sometimes necessary.

I’m very curious to hear your opinions on this matter, both from a personal perspective and from an entrepreneurial point of view. Should Virgin Galactic continue with this endeavour?

Why you Need to be a Thought Leader

By Comments & Opinion, Entrepreneurial, Business Insights, Foundations of Success, Leadership, Personal Accountability No Comments

As I mentioned in my blog post last week, using social media is a great way to gain exposure and build your personal brand. One point that I briefly touched on was about sharing your unique industry experiences through social media channels, and how this will make you a thought leader. But what exactly is thought leadership, and why is it important?

The term itself is pretty self explanatory. It’s someone who has established authority in their work field and has become the “go to” person when you need to know about a specific topic. I’m not going to explain how to become a thought leader, as there are plenty of articles that do a great job of detailing how to create thought leading content. However, I do have three main reasons as to why you need to be a thought leader – and one cautionary piece of advice:

Kills Competition – The best thing about being a thought leader is that you’ll instantly kill your competition. Think about it, if you were a potential customer and had to choose between two different companies, which would you rather choose: the company that has a president who regularly produces content as an expert in their field, or just a regular company?

Lead Generation – Speaking to the point above, generating knockout content that provides your audience with great value isn’t just useful for building a following. There’s bound to be people who’ll take a look at your content and decide that your product or service is worth the price of admission, based only on the fact that you’re an expert at what you do.

Increased Exposure – Another benefit to thought leadership content is the amount of exposure it will get you and your company. This will bring many visitors to your website or blog, and with the proper linking techniques,it can be great for your SEO, PR and content marketing efforts.

However, be Prepared to be in the Spotlight – The piece of cautionary advice that I mentioned links directly to the point above, and most entrepreneurs don’t consider it. Love it or hate it, once you’ve become an established thought leader every piece of information that you publish will be under scrutiny, which can lead to some nasty dialogue between you and your newly expanded audience.

It takes a long time to position yourself as a thought leader, but the sooner you figure out why you should become one, the sooner you’ll begin the process of becoming one. Of course, I myself am still on this journey, but I’m glad I started sooner rather than later. Are you trying to become a thought leader? What pieces of advice would you offer anyone starting out?