“It takes 20 years to build a reputation and five minutes to ruin it. If you think about it, you’ll do things differently.” Warren Buffett. The definition of reputation is as follows. The general opinion that people have about someone or something. Also, how much respect or admiration someone or something receives, based on past behavior or character. Opinion tends to be held by many and should be carefully guarded. are you honest reliable? Or a person or company that keeps its word? All of this can affect the trust others place in you. Buffett advises people not to risk their integrity. Staying true to our values is easy in good times. We also have to do it in the face of difficult and stressful situations. Building a strong and positive reputation takes diligent effort. Maintaining a reputation takes just as much effort if not more. Buffett started as a paperboy selling soft drinks for extra pocket money and became a billionaire with a stellar portfolio and shrewd ideas. Those who know him describe him as someone who understands the importance of hard work and integrity. Values are important but not enough. People we trust must do what they say they will do, in the time promised, at the price quoted.
Buffett’s tips for building a good reputation are:
• Establish trust, rely on the behaviors of transparency and fairness.
• Offer products and services of good value and quality.
• Treat people with dignity and respect whether they can help you or not.
• Clear and fast communication. Delaying difficult conversations often results in a damaged reputation.
• Be of service to the community that keeps you in business.
Reputation destroyers to avoid include:
• Lack of follow-up. Everyone is busy today. What is your standard for a follow-up? What are your customer’s expectations? A company that follows up quickly and delivers on its promises is already doing the best marketing possible. I’d rather pay a little more and get the job done right. If circumstances change, let us know what’s happening. If the job turns out to be much more than you initially expected, renegotiate. A friend did some repairs on his house. The contractor was having a problem with a particular aspect of the job and stopped coming to the house. After three weeks, he fired him and hired a new contractor who finished the job in two weeks. Failure to communicate on this job has already cost the contractor over $50,000 in referred work. I love telling people yes, but if I can’t deliver what they want, I leave the job to someone who can.
• Misrepresentation (and bait and switch). I see many companies that will quote to get work with the expectation of changing the price later. Today someone told me about a company that had accepted the reconstruction of the soffit. The homeowner found the contractor was washing the concrete off the property without consulting her. Don’t reach into the customer’s pocket. When you extend the scope of a project, make sure the owner agrees. Even if you won’t charge a fee, make sure you get pre-approved.
• Being a hypocrite The office gossip will tell you that she hates people who gossip. The contractor criticizes a competitor’s failure to meet a deadline, but gives a hundred excuses when he misses a deadline. We should have high standards, and we should live up to those standards first. We tend to be critical of others, but find excuses when we commit the same offense. This is called the fundamental attribution error. We think, “She’s lazy, I’m overworked.” We should be as kind to others as we are to ourselves.
• talking too much Listen more than you talk. If you find yourself talking too much, stop and ask, what do you think? The philosopher Epictetus wrote: “We have two ears and one mouth so that we can hear twice as much as we speak.” My favorite quote about listening is from playwright Eugene O’Neill: “God gave us mouths that shut and ears that don’t…that should tell us something.” The more you listen, the more people will pay attention to you. I once taught a class to a group of workers in a plant. Three of the four men in the class talked a lot, but one man only spoke when I asked him a question. Of the four, when the quiet one spoke, everyone turned their heads and took what he said to heart. They saw him as a wise sage. Many skills make people more effective in the workplace, and listening is one of the most important.
There are sure to be several things that will destroy your reputation at work. Remember, when your reputation is destroyed, “All the king’s horses and all the king’s men…” You get the picture! The following reputation killers are so bad it’s hard for me to rank them. 1. A universal way to ruin your reputation is to take credit for someone else’s work. Give credit where credit is due and never pass up an opportunity to edify someone who has done a great job. People will work hard for you when they know they will get credit for their hard work. Nothing makes you look better than having great people working hard for you. 2. Never hide a mistake. Often our first instinct, when we’ve made a mistake, is to hope no one notices. But they will, the truth will find you. If you hide a mistake, when the truth finds you, your bosses, colleagues, co-workers and clients will look down on you. don’t you believe me Consider the damage the cover-ups did to the reputations of Lance Armstrong, Richard Nixon and Bill Clinton. There are hundreds more examples of failed cover-ups happening as you read this article. Some people get it wrong with mistakes, most people don’t. 3. Not completing tasks. While no one expects you to be perfect, they do expect you to do your job. Failure to complete your task may affect another’s ability to complete their work. If you are delayed in completing a task, notify those who will be affected immediately. It will still bother them, but letting them know can help prevent a delay from turning into a disaster.
As important as personal reputation is, it is even more important to our businesses. Reputation determines people’s trust in us. People make purchasing decisions based on their beliefs and values. Companies need to be aware that 58% of people buy brands based on their beliefs and trust. Additionally, 64% of people chose where to invest their money based on their beliefs and values. Also important for businesses, 60% of people chose a place to work based on their beliefs and values.
Your company’s reputation is its most valuable currency. Many businesses ignore the importance of their online reputation. If someone has posted a negative review of your company, don’t ignore it. Select a public or private response as appropriate. If you’re getting a report of a problem, it’s likely that it happened other times that wasn’t reported. Responding honestly to complaints is critical to future success. My favorite complaint response story involves a complaint letter written by a woman. It ended up on the desk of Herb Kelleher, CEO of Southwest Airlines. He complained that he didn’t like that there was no first class and no meals on board. He also complained about the boarding procedure, the lack of assigned seats, the flight attendant’s sporting uniforms and the casual atmosphere. Southwest’s reputation and business strategy were built on all of these things. Kelleher realized the adage “you can’t please all the people” and responded with a one-sentence letter. Dear Mrs. Crabapple, we will miss you. Love, Herb.
The best way to protect your reputation is to run your business with honesty and the utmost integrity. A consistent and strong reputation is the best defense against negative feedback. Negative feedback also has less impact when surrounded by positive feedback. Encourage happy customers to post. You can even offer an incentive such as a discount or gift card. If someone is trying to damage your online reputation, you may need to use an online management company to remove defamatory content. You can build good relationships with your customers by answering them. Whenever someone posts a positive comment, respond. “Thanks.” Or “It was a pleasure serving you.” These customer interactions will also make you look good to potential customers. Pay attention to what is posted about you. You’d be surprised how little some unhappy customers need to forgive.
Guard your reputation, your success depends on it.
Cami Miller is a business coach and works with executives, entrepreneurs and family businesses to develop strategies for success. She can be contacted at camimiller54@gmail.com