Money or Reputation

By Cole Carter

Do you think money is more important than your reputation?

What does reputation mean?

One may define the word reputation as being “one’s overall qualities as judged by people in general”; or the name which one earns for himself through righteous deeds. Likewise, the reputation of a business can bring about success or failure. The customers experience with the business can have a positive or negative profound effect. A good reputation is said to be legally protected in some lands; one can always attain more money – but once a reputation is destroyed it’s difficult to get it back.

For many years, word of mouth has proved to be a valuable tool that is used to convey messages, ideas, and beliefs; however, in this modern age of social networking sites such as Instagram or Facebook, websites, apps and other methods of instant communication can quickly ruin the reputation of a company, so it is important that business owners maintain a good and healthy relationship with its customers. Likewise, it would be a great idea to use social media monitoring tools such as Google Alerts, Tracker, in order to find out what sort of feedback your company is receiving; and the opportunity to resolve any issues or concerns promptly.

There are several reasons why a good reputation should be chosen before money; for instance:

1. A good name builds confident, trustful and loyal relationships
2. A good reputation opens doors of opportunity.
3. A good reputation serves as motivation for you to try to improve yourself and business

In addition, there are many ways that a business owner can build their reputation in order to increase profitability and establish themselves in the market.

1. Create trust – There is a wise proverb saying “Let your Yes mean Yes and your No mean No; by doing this, your business will build credibility with customers.

2. Punctuality suggests dependability – people appreciate those who stick to their word; complete task on time and meet deadlines.

3. Be proactive in solving errors, issues or concerns – The number one rule when dealing with customers is: the customer is never wrong. Whatever concerns the customer has; fix it.

4. Learn how to use technology – Learn to utilize technology; take advantage of training classes- this will ensure your business is keeping up with the world around your company will be perceived as being competent and capable to deliver the service needed. This will definitely establish the company’s brand and maintain its reputation.

5. Maintain an Update and professional website – Keep the website current and update with the company’s progress. Information that is dependable will gain more loyal customers.

6. Be responsive – Accurate and Prompt customer service will show the customer how important they are.

7. Community Service – Give back to your community; whether its donating money, time or food for an event – remember it’s always better to give – and this will definitely establish a positive reputation of your business.

Although there is nothing wrong with making money; but, business owners want to make sure that they are not destroying their valuable name in order to attain money. Remember money comes and goes- but a good reputation is harder to build than to destroy.