The Importance of Reputation and Building Trust

In this episode, #1 Bestselling Author and Highly Acclaimed business & Entrepreneur Expert, Mel Abraham, talks about how you can build a great reputation. It is something that takes years to build and moments to destroy. Your reputation is envisioned from the outside in and developed from the inside out. Without a good reputation, people won't buy from us, they won't trust us and will definitely break up with us in terms of business and financial transactions.

But if you get it right, you get tons of return customers who tend to buy more. You also build goodwill that are the intangible values for any business. It also creates loyalty for a premium and the entire community will be willing to pay more to get a chance to work with you.

So, when it comes to reputation building, what you need to know is:

• Perception is reality: Instead of what you think, it matters what those around you think. So, we need to manage their perception and then manage their reality.
• Shrink the gaps: The wider the gap between perception and reality, the bigger the problems you have. We want to shrink that gap.
• Control active voice: Control the conversations that happen around your business. Get ahead and make sure that you have twice as many positive messages in the marketplace than negative.

Reputation Navigator

Your reputation is huge and it depends on three things:

1. The things that you say,
2. The things that you do, and
3. The things that are seen.

There’s more:

• Trust is the result of doing what you say and saying what you do.
• Role model is the intersection between what you do and what is seen.
• Notoriety comes from the combination of what you say and what is seen.

Also focus on “Who” we are building the reputation with. These are the stakeholders of your reputation:

1. Community
2. Suppliers
3. Owners/Investors
4. Customers
5. Team

We also need to see “What” our reputation is built on. There are five broad categories for it:

1. Financial
2. Relations
3. Quality
4. Governance
5. Social

Manage your reputation on all these levels and you will be on the right path to build it in a great way.

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ABOUT MEL ABRAHAM

Mel is the founder of Business Breakthrough Academy and Thoughtpreneur Academy where he helps entrepreneurs bring their businesses to the world and build the lifestyle that they want. Mel is one the most sought after entrepreneurial mentor and strategic thinkers of our time. Unlike many othe