Why Your Reputation Is Your Stock-in-Trade

Famous Quotes

In today’s knowledge economy your reputation is your stock-in-trade. It’s your most important asset that you own next to your health.

This is no misnomer. In today’s interconnected “news” always-on world, your name will arrive at a destination long before you do.

Unfortunately few people gives this a thought. But, some like the ancient philosopher Socrates did. Socrates (– 469 BC – 399 BC) said: “Regard your good name as the richest jewel you can possibly be possessed of – for credit is like fire; when once you have kindled it you may easily preserve it, but if you once extinguish it, you will find it an arduous task to rekindle it again. The way to gain a good reputation is to endeavor to be what you desire to appear.”

Joseph Addison wrote: “Why you have to constantly work on your Reputation: Admiration is a very short-lived passion, that immediately decays upon growing familiar with its object; unless it be still fed with fresh discoveries, and kept alive by a perpetual succession of miracles rising into view”.

Stephen Covey spoke about sharpening the saw, others speak about constant learning and upgrading of your own repertoire of skills. My blog updates aims to help you to keep your own saw sharpened.

These quotes are backed up by the “Oracle of Oklahoma” Mr. Warren Buffett . Mr. Buffett is famous for this quote:

The key statement here is that ” you’ll do things differently”

The implications of these quotes is that your name – your reputation is something that needs constant work just like a gardener attending to his flower beds. Like as in gardening it does not take much for weeds to grow, pests to come and flowers to wilt.

Personal Reputation boils down to three crucial elements:

1. Know-how (Your intellectual capital i.e. what you know);

2. A Network of contacts (Social Capital – who you know);

3. Your Reputation (Reputational Capital – who trusts you).

The key for any person who is interested to build their own reputation is to work on these elements as part of their own career development plan.

It is interesting and disconcerting that I often get emails from managers who tell me that they do not wish to receive information about Reputation. I chuckle, because these are the managers who are going to find it increasingly difficult in the years to come. In a society where intangibles rule, where the common currency for trust is reputation, more and more organizations are including management of reputation into KPA’s.

Learning how to manage reputation and mitigate this risk – Reputation Risk should be on your To-Do list, that is if you want to remain current and relevant.

Constant attention and vigilance is needed if you want to maintain and safeguard your reputation. Do you know what drives your reputation? Do you know what can add or subtract from that reputation?

Read my blog posts and sign up for my training and learn how to boost and safeguard your own reputation.