Why does it pay to have a good business reputation? Well we could have a look at the downside of having a bad reputation first. Reputation by the way is defined as “the beliefs or opinions that are generally held about someone or something.”
Not having a good business reputation
Bad news it seems travels much faster than good news – sadly. What is worse – is that often people may not go and let the “said” business know first. They will often let other people know first. Faults will be repeated and then passed onto others known to them. Rather like a bad case of Chinese whispers. People will not feel confident in referring your business – it’s services and it’s products. Without high ethics also means that this can easily cause the demise early on in a young business’s life. I have heard it said that with one negative review of your business is takes thirteen positive to cancel that out. So it pays for others to have a a good feeling about your business reputation. This is something of which you don’t have a good deal of control over it seems.
Why it pays to have a good business reputation
As previously noted – good news travels fast. If you want that to be about your business go above and beyond to gain that good reputation. It will gain for you referrals that don’t need to be paid or advertised for. You will have a better employee morale in your business and they will work for a positive and different motivation. You will be a stand-out where business is concerned. You will also be on a firm foundation in what you stand for. You will also possibly have a better standard of people wanting to work for your business. It will add to your “bottom line” or profit. At future times it will help give you resources to grow as a business in different directions. A good business reputation is good business
How to gain a good business reputation
- Respond as early as possible
- Be trustworthy and of excellent character.
- Have a great product and/or a great paid for service.
- While Social Media Influence has it’s place – remember that to be around for the long term look for other ways to gain your good business reputation as well.
- Have well trained staff who have a knowledge of your ethics and values and put them into practice.
- If you are not able to do something – don’t put off responding. Let the client/customer know what is happening.
- Don’t be inefficient in your service – cover what you say you are going to and don’t miss things.
- Don’t think that just having a quality product is all you need to be successful. Service means just as much
- Search and ask for feedback – customers and clients do know best in many things.
- Act with decorum if you have a difficult customer/client. Go the extra mile where possible. Do be aware that if you have done everything you can let them know the following: That you have done all you can and that another business may suit them better if you are unable to meet their needs.
- Add to your community – no matter if you don’t get paid for your time or even if no one knows of it.
- Make use of collaboration opportunities for both future referrals and also referring customers/clients whom you cannot meet the needs of. I have a Facebook group where you can make use of collaboration opportunities
- Establish a good relationship with your suppliers, creditors and/or contractors as well as your employees. This pays dividends.
- If you find you cannot meet the customer/clients needs – refer them to another business of good reputation who you are sure will meet their needs.
- If you have wronged a customer/client or any of those I have listed above – go as quickly as you can to heal the relationship.
- Go the extra mile or beyond what is expected.
- Don’t make haste to be “rich” first and foremost- let your relationship with others be “rich” Be a person known for good business sense and one who is a great business person.
- Most of all keep learning – how to implement good business ideals, people and how to best build relationships and to be a good leader. While we can learn on the job – so to speak – do try and set aside time for outside your industry to see how others do things and what you can learn.
What footprint are you leaving?
My mistake with someone else’s reputation.
Only recently I was in a position to make business referrals. That was fine. I could do that easily. There was one thing I went against my own value though. I brought out the negative aspects of a business and allowed how I felt about them to have free reign.
Sure I may have been on the receiving end of their lack of business knowledge. Where I went wrong was I passed that information onto someone else when I believed it would have been better if I had let it go.
To me it was a big mistake. I made amends with the person I passed the information onto. If I had been asked for recommendations and didn’t feel I could recommend that person – I would have left that business out and recommended others. Not all businesses are perfect – they have weaknesses. A careful person looking for recommendations will look for certain characteristics for different projects. Which takes wisdom too.
I believe that many are learning in business and it is not always an easy road. To me it would be better that we allow people to learn themselves by the reactions of their clients and customers and then improve. It is not for us to make a judgement. At least not me!
Deborah Hunter Kells
I have a wide range of interests and the top of my list is people and relationships. I appreciate our big wide world and nature which tries so hard to deal with what we do to it. As noted you will find a variety of topics covered (see Home page) My appreciation goes to my team and others whom I collaborate with to make this blog successful and resourceful. Thanks especially to my team: Sarah, Tina, and Billah (See footer for more of their details)