Chapter 34. Reputation Counts

"A good name, like good will, is earned by many actions and lost by one."

Your reputation is your most important asset. It's an intangible advantage that is far more valuable than money. And as it is with any asset, what you don't protect, you don't keep. Your good name is a terrible thing to waste. You must protect and polish your reputation, as one slip of the tongue, one wrong move, or one moral misdemeanor can tarnish or even destroy a lifetime of hard work.

A favorable reputation has a positive impact on almost every aspect of running a business: share price, sales, customer loyalty, recruitment, and retention. It is what sets a company apart from its peers. In an age of corporate scandals, paranoid customers, sky-high expectations, and almost zero tolerance for small mistakes, there is simply no substitute for a sterling reputation. Competition for reputation has always been a significant driving force that propels every economy forward.

Your reputation is a critically influential factor in your ability to achieve success and sustain any competitive advantage. The crown jewels of your success include your character and reputation; they give people the confidence to do business with you, and help you and your company weather the tough times.

Your reputation is a deeply held, emotionally driven view of the people and customers with whom you come in contact. Simply put, reputation is what people think of you. And this depends on not only what you are, ...

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