“It takes 20 years to build a reputation and five minutes to ruin it.”
— Warren Buffett, one of the most successful American investors in the world
Too many successful entrepreneurs try and repair their online reputation after an attack, but it’s a lot easier to prepare for one in advance. Below are eight tips to guard your reputation and your business.
As you become more visible online, it’s only a matter of time before somebody posts something unflattering, rude or false about you. Depending on the post, it can result in lost opportunities and damage to your reputation or business. Your impulse may be to slam or discredit this person, but this will only escalate the situation and bring more attention to it. Instead, use this dissatisfied customer or post to your advantage. It can be turned into a positive if handled correctly, which would be one-on-one either through phone or private messages.
Often, disputes arise from misunderstandings and/or lack of disclosure. Don’t hide hidden fees or negative aspects about your business. Be upfront right from the start about both positive and less attractive characteristics of what you are selling. If a business deal is ever anything less than crystal clear, refrain from getting involved. Usually, it’s the deal which seems too good to be true that ends up being the worst—and everyone involved will remember you for it.
It may seem like a sweet deal—having friends or family invest in your business or provide a loan. Be forewarned, they’ll expect more from you in any deal they are emotionally and financially invested, which can cause disputes or legal problems. Should your business fail and your friends or family lose money, you could irrevocably damage the relationship. Put in print any and all risks of the financial venture and have it notarized to protect you from potential legal battles in the future.
The worst has happened. Incredibly damaging accusations have been made about you. Who will stand by—and more importantly up—for you when the chips are down? When it comes down to your word versus another’s, your tribe’s objectivity will be key. If a conflict arises and you had some part in it, admit your role in it but hold the other party up to the same standards. State the whole truth. After you have said your peace, ignore any gossip or assumptions that continue and your tribe will back you up.
You want to build trust? Dependability? Take accountability for your actions. Always do what you say you’re going to do, when you say you’re going to do it. If you say you’re going to return a phone call within 24 hours, do it. Set up an appointment? Make it and keep it. Give a referral to someone? Put it in writing then follow up with a phone call. You have very little control over your reputation, especially as you gain more public exposure. But you do have 100 percent control over your character.
As long as your actions are aligned with your inner values, others’ perceptions of you won’t have a long-term effect on your personal and professional life. If you focus on a high standard of inner integrity, everything in the outside world will eventually work itself out—even when you make mistakes. Never compromise doing the right thing because you think your reputation will suffer. Instead, lean into transparency. Do the right thing and tell the world about it.
Be willing to take responsibility for your actions. As a LifePharm IBO you likely have an upline and a downline. If you are working together as a team, you should stand as a united front. People make mistakes, but when you try to hide those mistakes, your reputation can be ruined. Don’t make your client find out from someone else you made a mistake. First, fix the error, train your people better, then provide your client with a solution, not a mess!
If you are a long-time IBO, you’ve heard us emphasize multiple times the importance of having a mentor. This can be a LifePharm leader, team member, or anyone you admire who you would like to emulate. They should have experience in creating a connection with people, then a relationship, loyalty, support, etc. They will have been through ups and downs, made mistakes and solved them. Maybe they would have liked to do things differently, and this is where you can learn to grow—from the mistakes and successes.
Reference
1. Success Magazine, January 26, 2017