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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