The notion of intellectual capital has been gaining traction as North American society moves toward a knowledge-based economy. Becoming a “thought leader” in your field is now considered one of the most effective ways to distinguish your brand in an overcrowded marketplace.
“Your [company’s] book value may be very very small, but by articulating your intellectual capital clearly, you can show that you are worth significantly more than your salary or the building you own,” said Nick Bontis, a professor at the DeGroote School of Management at McMaster University and associate editor of the Journal of Intellectual Capital.
“You want to establish yourself as an expert in your field and this is how people are developing brands for themselves,” said Prof. Bontis. “It allows you to make a phenomenon synonymous with your name so that your name comes up first in a Google search,” for instance, he said.
But how, exactly, does an entrepreneur or professional present his or her ideas in ways that will accentuate their value for others?
Increasingly, by turning to one of the new, “thought-leadership” marketing firms for help. These show small businesses how to identify their intellectual capital and how to use it to market their ideas and knowledge, rather than simply their products or services.
Toronto-based Highspot Inc., founded in 2007 by Ross Slater and Jennifer Tribe, is one such company. “We specialize in people who are really good at what they do and move them to being seen as leaders in their field. We help them become celebrities, or rock stars,” in their areas of expertise, said Mr. Slater.
Highspot takes its clients through every step of building a brand around intellectual capital. For instance, “There is huge cachet in being a published author” said Mr. Slater. A book project starts with determining the client’s actual intellectual capital, then providing ghostwriters and editors as necessary. The manuscript is self-published, and distributed through Amazon.com or other online distributors.
Highspot also does video and audio projects for clients and creates an online presence using social networking and websites.
One of Highspot’s clients is Toronto facial cosmetic surgeon Dr. Peter A. Adamson, who recently launched his book, Fabulous Faces: From Motivation to Transformation Through Facial Plastic Surgery. Dr. Adamson, who has been practising for almost 30 years and is a department head at the University of Toronto’s medical school, wanted to help people decide if cosmetic facial surgery was right for them. “I had been thinking about writing this book for seven or eight years but it seemed too daunting,” he said.
Dr. Adamson acknowledges there was also a marketing element, though he says his primary motive was to share the wisdom he had gained from his patients over the years. “Medicine is a profession but it’s also an entrepreneurial business, and cosmetic facial surgery more so than insured medical services, so we’re always looking to have new patients.”
The price tag for the book venture: $150,000.
Mr. Slater said Dr. Adamson’s project came in at the high end due, in part, to a swanky book launch in the Glass Room of the Royal Ontario Museum. The usual range for such a project is $40,000 to $100,000, he said.
“I tell our clients, you must think of it as a marketing expense.” The monetary return may not be immediate, or even tangible, but “there is a good possibility that you can recover the cost over time.”
He says several of his clients’ books have gone into second and third print runs and led to paid speaking engagements.
