“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” – Warren Buffet
A solid reputation is a key factor in the long-term success of any family business, and it takes a lot of work over a long time to build one. Don’t let your hard work go to waste by failing to protect yourself against the impact of bad press. A single negative article about your business can have far-reaching implications for your business if you aren’t ready to act quickly and don’t have a pre-emptive reputation management strategy in place.
As a family business it can be difficult to take control of your search results once a media narrative against you has begun, which is why it is so important to actively build a positive online reputation before anything happens.
Effects of a Negative Reputation on your Family Business
A negative reputation has the potential to cost any business customers, employees and investors, but the impact can be much more pronounced for family businesses. Trust is a major factor in why people want to buy from and work for a family business instead of a big brand or corporation, so their reaction can be stronger when a negative story makes them feels this has been betrayed.
Personal Implications of a Negative Reputation Having your name and personal identity attached to your business can be a huge benefit when it comes to gaining customer loyalty and trust, but in a crisis it can be disastrous. Your name and personal reputation could be tied to the story, potential affecting your future career opportunities and coloring your relationships and social interactions. It will also be much easier for the press and the public to contact you to ask for a comment or simply harass you via your personal means of communication rather than your business. This can also impact your family and loved ones who are connected to you online.
If you want to protect your family business from the dangers of a negative online reputation, ReputationDefender’s online reputation experts will build and protection your business’s image online.