2 Critical Actions that Saved Belmont University’s Reputation

September 26, 2016

2 Critical Actions that Saved Belmont University’s Reputation:  When leaders or brands find themselves in the middle of a crisis there are two critical elements to remember in order to protect a reputation – time and decisive action. I’ve worked through my share of crisis situations over the past two decades – ranging from race car driver deaths to sponsor/brand crisis – and employed two vital components for successfully managing through those reputation challenges. Belmont University nailed both of them when the school was pulled into a social conversation by one of its students who posted a racially charged post on Snapchat. Click on the link below to read more from the New York Daily News. http://www.nydailynews.com/sports/football/belmont-boots-student-called-protesting-eagles-n-word-article-1.2799746 Below are 2 critical actions that saved Belmont University’s reputation. Time is not on your side Time is not on your side when assessing and beginning to manage a crisis situation. The Belmont University communications team quickly acknowledged, via the university’s Facebook page, that the administration was aware of the social post. Belmont University’s Facebook statement at 11:43 AM: “This morning, we were made aware of a racist social media post by a freshman student at Belmont. We reject comments rooted in racism or bigotry. This is not free speech – this is hate speech. The University is investigating and will take immediate action. As a Christian institution, it is our goal to build a diverse and inclusive community where all members feel accepted, safe and valued.” Acknowledgment, especially in today’s socially connected world, is a critical step in the timeline of reputation management. In fact, the expectation is that a brand or leader will respond through Social Media channels in a matter of hours. A response that takes too long can be considered to be avoidance or disinterest by the leader, organization or brand. Decisive Action is Necessary Theodore Roosevelt once said, “In any moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing.” While the crisis-management clock is ticking, the social-media monster is still feeding – people are watching social timelines for updates, posting comments and armchair quarterbacking what should be done. While it is beneficial to monitor what is being said, those comments should never guide your actions and next steps. The best way to chart the path towards action is to ‘check in’ with your values. Does your action plan align with your values? If so, move forward. Now. If not and you choose to proceed, then you are opening yourself (or company) up to additional scrutiny and reputation damage beyond the initial issue. It’s time to put your plan into action once you have evaluated and selected a values-based decision. Now that your decision has been made, you must see it through. Anything less is indecisive and will undermine your efforts. Belmont University’s Facebook Update at 1:22 PM (less than 2 hours later): “After investigating a racist social media post that surfaced earlier today, we can report that the person involved is no longer a student at Belmont. […]

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10 Eye-Opening Reputation Statistics For Every Leader and Entrepreneur

September 19, 2016

10 Eye-Opening Reputation Statistics for Every Leader and Entrepreneur Winning in the Reputation Economy requires leaders, entrepreneurs and any individual looking for success to be vigilant in growing, protecting and leveraging one of their greatest assets – their reputations! Every day we see, hear or read about people who are not paying attention to how their actions and decisions are negatively impacting their business, careers and organizations. A critical key is understanding the ways in which our reputations are tied to every aspect of our lives – and the positive, as well as negative, impact it will have over our ability to succeed. Shakespeare even knew the power of reputations – “Defend your reputation, or say farewell to your good life forever.”   My intent in sharing these 10 eye-opening reputation statistics for every leader and entrepreneur is to deliver a catalyst for how you can proactively develop, protect and evolve your reputation to help you achieve your goals. Here they are: 10 eye-opening reputation statistics for every leader and entrepreneur 60% of a company’s market value is tied to its reputation 84% of employees would consider leaving their current job if offered a job by a company with an excellent reputation 69% of job seekers would not take a job with a company that has a bad reputation – even if unemployed 70% of U.S. recruiters and hiring managers have rejected candidates based on information found online 50% of a company’s reputation is tied to the CEO’s reputation 78% of consumers trust peer recommendations; 14% trust advertising 84% of marketers believe that building trust will be the primary focus for marketing efforts in the future (do you trust people with bad reputations?) 58% of executives believe that reputation management should be addressed, but only 15% actually do anything about it 4 out of 5 consumers changed their minds about a recommended purchase solely on negative information they found online 33% decrease in shareholder value of an organization within one year of a crisis situation becoming public Because I am a big believer in over-delivering, here are two additional statistics that need to be on your radar and developed every day! 100% of your referrals are based on reputation 100% of your employees are your reputation ambassadors As a leader, entrepreneur or anyone looking to succeed, here are 6 key takeaways as you digest the data above! 1. Cultivating your customer relationships will not only drive greater life-time value (which according to studies is 10x the value of their initial purchase), but will also increase your referral pipeline 2. It’s not just your behavior (good or bad), but your employees behavior that becomes the reputation of your organization 3. Trust is one of the core components of a strong reputation and is a business accelerator in the Reputation Economy 4. Your reputation (and that of your company) is a market differentiator in attracting and retaining top talent 5. What you post on Social Media channels will be reviewed and can just as easily shut a door to opportunity as it can open one 6. You must know the online conversation/comments […]

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5 Must-Know Reputation Perspectives for Every Entrepreneur

September 14, 2016

5 Must-Know Reputation Perspectives for Every Entrepreneur Entrepreneurs know that their success is determined by several factors. Of course, it all starts with the idea or product that will be brought to market. However, even the best idea or product will languish without an entrepreneur with a high level of confidence, organization, discipline and passion. But, what’s missing from that launch list? Developing and maintaining a strong reputation! Every entrepreneur must make reputation growth and management part of their daily habits. Reputation development should also be seen as a sustainability pillar in their short-term and long-term business plans. Failure is a strong possibility if it isn’t. Social media platforms are a vital link for entrepreneurs to attract and retain venture capital, talent, lead generation and referrals. Entrepreneurs are using this global touchpoint to build their brand as well as identify assets and resources. But remember that social media is not a one-way street! Those who might be interested in associating with that entrepreneur are also using social media resources to check on their credibility, social feedback and the experiences of others before deciding whether or not to place bets on them. Let’s not forget that people still use the analog version of reputation research by just asking and tapping into their personal networks to get real-time feedback. An entrepreneur may have a great product, but if they develop a reputation for missing deadlines, being a poor leader, treating vendors with disrespect, mismanagement of capital, then even the best products will have a short lifecycle – with such a competitive marketplace who wants (or needs) to work with people like that? Below are 5 must-know reputation perspectives for every entrepreneur to better protect and grow one of their greatest entrepreneurial assets. People associate themselves with another person based on two things – When trying to decide on whether or not to associate ourselves with another person, we often rely on two factors. The first is our previous experience with that person. We quickly go into our mental hard drive to retrieve experiences and determine whether those were positive or negative. If we have no previous engagement with that person, then we tend to rely on what others have to say. That is when we’ll tap into our personal or professional networks to gain perspective based on others’ experiences with that individual and the reputation that has been created. Simply stated, these are called referrals!! Both approaches are rooted in historical experiences that strongly reflect upon ones reputation. Reputations surround our identities and drive trust/connectivity – Whether we know it or not, like it or not or embrace it or not, our reputations surround who we are and are solidifying factors to our identities. Always remember that our reputations speak for us when we are not there to speak for ourselves. Just as our reputations are aligned with our identities, so does our reputation drive trust and allow us to connect with those who can help us. This often happens on a daily basis, if you think about it. Think back to a moment when you asked a friend or colleague to […]

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Business Elevation Show with Chris Cooper

September 12, 2016

Business Elevation Show with Chris Cooper Recently I had the pleasure of speaking on the Business Elevation Show with Chris Cooper. Chris helps leaders and teams to elevate the performance of their businesses, people and themselves through consultancy, masterclasses, coaching, interviewing, speaking and broadcasting. He has hosted the ‘Business Elevation Radio Show (Be More. Achieve More)’ on Voice America for 4 years, accessed monthly in over 50 countries which has given him unusual access to high achievers and leading business and self development best practice. Chris speaks at events about ‘Engagement Starts With You’, ‘The Power To Get Things Done’, and ‘Elevate Yourself via On-line radio’. He is co-author of ‘The Power to Get Things Done (Whether You Feel Like It Or Not)’, published in Jan 2016 by Perigee Books (Penguin Random House USA). He has 25 years of multi-functional business experience to board level including 7 years with Mars Confectionery. Chris is also former Regional’ President of the Professional Speaking Association. For more information on Chris Cooper Business Elevation www.chriscooper.co.uk Listen to the full podcast below: Part 1 Part 2 Part 3 See the full Voice America episode guide here.  

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3 Critical Reputation Crisis Steps For Every Leader

September 9, 2016

3 Critical Reputation Crisis Steps For Every Leader: With today’s Social Media connectivity and people’s ability to voice their opinions or vent their angst, reputation attacks are no longer a question of ‘if’ rather it’s become a question of ‘when’. Of course, these attacks on our greatest personal asset are no longer limited to brands, celebrities, politicians and high-profile executives – we are all vulnerable. But fear not, as reputation issues don’t have to be issues if you know how to approach the situation. While there are multi-step, ultra-disciplined plans for handling reputation attacks, it’s vital to boil down the first few initial steps.  I’ve outlined three critical ones below. These do take some serious introspective work.  Your goals are to gain perspective, get over the hurt and anger and then identify the source of the attack to gauge the validity of the charges. Here are the 3 critical reputation crisis steps for every leader: Have you honestly identified the root cause of the issue? – Typically a reputation issue comes up due to a decision that led to an action or behavior. This takes getting very honest with yourself because if you are in denial about your decisions and actions, you’ll never truly address the issue or whatever this issue is. If left alone and unaddressed, you will repeatedly behave in the same manner and your reputation issues will end up being like one of those whack-a-mole games we see at carnivals – instead of the mole popping up again and again in different places, the behavior that first initiated your issue will just keep popping up again and again – I’m sure you can think of people you know like that!   How quickly do you move past your emotions to get to a plan – emotions are natural – it’s human nature to be upset when your reputation comes under attack – why me? How’d this happen? That person is out to get me! Those are all fair thoughts, but if we stew on those, we lose precious time.  I’ve learned over my 20+ years in communications and crisis management that time is the one resource you will never get back and you never seem to have enough of – move past the emotion and get working on your plan.   Is what is being said about you true and is the source credible? Identifying the source will enable you to validate the credibility of the accusations. There are times when you need to stand up and times when you need to remain focused on ‘staying the course.’ As a leader, you must be mindful of how much energy is spent on refuting the accusations versus continuing to let your consistent actions speak for yourself.   Leaders and entrepreneurs need to keep these reputation crisis steps close at hand in order to quickly and effectively stave off an attack. There is a saying in racing that sometimes you have to slow down to go fast.  While time is of the essence, how you deploy your time in crisis situations will dictate your recovery speed and success. Yes, […]

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