What is REPUTATION and why is it so important in business?
Ok I know I have been banging on about reputation the last few weeks but I do have a book out so its no surprise is it?
However maybe its as simple as doing the right thing? Take a look at the picture - what do you think the boy sees? I think it his Dad telling him what he should be doing and the look on the boys face is he understands that what Dad says is what needs to happen!
Perhaps his Dads reputation already proceeds him who knows?
I was stumped a few days ago when someone actually asked me what reputation is. This from a business person of some years. Frankly I was staggered and more to the point they did'nt have a sting at the end of the conversation - they were serious!
So I thought lets be trendy and ask AI expert ChatGPT and this is what it came up with - bare with me for my comments at the end...
ChatGPT:Reputation refers to the collective perception or opinion that people have about a person, organization, brand, or product based on their past actions, behaviour, and performance. It represents the overall image and credibility that an entity holds in the eyes of its stakeholders, including customers, employees, investors, partners, and the general public.
In business, reputation plays a crucial role as it directly impacts the success, sustainability, and overall value of an organization. Here are a few reasons why reputation is important in business:
In summary, reputation is important in business because it affects customer trust, brand value, partnerships, employee relations, investor confidence, crisis management, and the overall operating environment. Building and safeguarding a positive reputation should be a strategic priority for any business seeking long-term success and sustainability.
Wow and all that took less than thirty seconds!
Here is my point.
If a machine can get it, what does it take for a business or business person to get the message that reputation is everything? Good gets you by, great is an improvement, but wonderful gets you the real clients who want you, want to work with you and are prepared to pay you what you are worth.
So simply put do you want to be considered good, great or even wonderful?
Perhaps a start would be to take my How to Grow a Reputation that Delivers More Profitable Business Scorecard which will take sixty seconds and then have a complimentary chat with me - it might just get you there...
Until the next time...
Peter Roper The Family Business Man