MediaVision Blog : Search Engine Marketing

Warren Buffett once said, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” I would compare reputation management to walking through a swamp. If you know where the sturdy branches to hold onto are, you’re likely to make it through. But low and behold, you stand in an area of quick sand, or swamp water and you aren’t holding onto anything for support, the feeling of helplessness overtakes you. Once the first foot is in, it’s going to take a lot of sweat (maybe some blood) and tears to try and get back into that safe zone, ultimately saving you from eternal reputation damnation.

Many companies thrive through effective reputation management, while others struggle from time to time (Enron, for example). Integrity is a key factor when managing the way other companies and the public see you. Once your integrity is threatened through wrongdoing, incompetence, or just pure negligence, you are bound to suffer in more ways than just a burned reputation.

The scary thing about a reputation crisis is that it isn’t actually a rare occurrence. It is just that occasionally companies know how to cover their asses really quickly before the media gets wind of the situation and blasts it over the front pages of the newspapers, news channels, online news feeds and so on. It is essential that each company has someone there in a management position to deal with a sticky situation that might cause uproar among customers if they were made aware of the blunder.

Another quote by Warren Buffet that I found interesting states, “In the business world, the rearview mirror is always clearer than the windshield.” This, for some, may seem like a rather abstract perception. I thought it was quite thought-provoking. It is often easier for organisations to look back at their previous experiences and learn a thing or two about how they handled tough times a year or two ago. Whereas trying to predict the future and coming up with solutions to problems that haven’t surfaced yet, is not as practical. The former process forces people in the business world to assess their strategies and procedures that may have worked, or not have worked for them in the past and to come up with new innovative approaches.

It is always a good time to do some spring cleaning in-house, especially when your reputation is on the line.