As an entrepreneur, think about what you are doing.
Fundamentally, you are asking people to believe in you. To buy into what you do.
What you are really asking for is trust.
Entrepreneurs are specifically very interesting people to me.
I am an entrepreneur. I have started multiple businesses and recently exited one of our businesses not too long ago.
Entrepreneurs have somewhat a love-hate relationship with the concept of reputation.
Any good entrepreneur knows that if you’re ever going to sell your business, make an exit, or do a transference of ownership, you need to build a business that is not completely dependent upon you.
Your personal reputation is one of the fastest ways to grow your business.
Customer Loyalty
Why does reputation matter for entrepreneurs?
As an entrepreneur, you are asking people to believe in you. To buy into what you do.
You are asking somebody who may not know you or is not familiar with your company.
You may not have this huge company that everybody has heard of.
And you are asking your customers to believe in your product.
And you are asking your team members to believe and trust in your vision.
Trust is based upon your reputation.
Are you trustworthy?
Are you worth being believed in?
Can I have good faith that your product or your service is going to be good?
Do I believe that your company is going to grow and be able to give me the career path that I want?
What about when it comes to financing? Especially if you are trying to raise capital of any kind.
Build a Personal Brand With Your Reputation
What is the investment? It is basically a gamble on your reputation.
You hear people say this all the time.
“Don’t bet on the horse. Bet on the jockey.”
What do they mean by that?
They mean they are betting on you.
When someone invests money, they are investing in the model, strategy, and the idea.
But what are they really investing into?
More than anything, they are investing in you.
It is your reputation.
It is the perception of who you are, what you stand for and what you can deliver on.
That is what they are investing in.
Whether you are trying to attract investors, customers, or team members, the value and necessity of your reputation as an entrepreneur is indisputable.
It is critical.
People must know, what do you stand for? Can you be trusted and are you worth believing in?
Let me know in the comments below.
