Warren Buffett famously said that "it takes 20 years to build a reputation and five minutes to ruin it."
These 11 entrepreneurs have earned impeccable reputations and they learned the secrets of managing the reputation. By following their advice, you can save a lot of time building and protecting your reputation in any market.
Related: 11 Epic Life Hacks from Crazy Successful Entrepreneurs
1. Turn negative attacks into opportunities.
When you start getting attention, it's only a matter of time before someone posts something bad about you online, leading to lost opportunities and damage to your reputation or your business. Mark. Treat all negative social messages as opportunities, not problems. A dissatisfied customer or message can be turned into a fan if handled correctly. Do not respond publicly online to something negative, because you no longer draw attention to it. Communication is best handled directly over the phone or direct message.
—Grant Cardone, the top sales expert who built a $500 million real estate empire, New York Timesbestselling author of Be Obsessed or Be Averageand Founder of 10X Growth Con 2017 ; follow Grant on Facebook or YouTube
2. Always be totally transparent.
Often disputes stem from misunderstandings and/or lack of disclosure. Make a point in everything you do to be completely transparent and provide full disclosure. If a business deal is never crystal clear, don't get involved. Usually it's the deal that seems too good to be true that ends up being the worst – and everyone involved will remember you for it. I also refrain from doing business with friends or family because they will expect more from you in all transactions and they are more emotionally invested, which causes conflict or just generates headaches. And if the deal goes sour, you'll lose a good friend (or never hear the end of it), no matter how many times you've disclosed the risks.
– Manny Khoshbin , president of The Khoshbin Company and author of PlayBook Contrarian; arrived in America at 14 nearly homeless and now has a nine-figure net worth; follow Manny's incredible adventures on Instagram
3. Endure enemies.
In the modern world, everyone has a voice through Twitter, YouTube comments, Snapchat, Reddit, etc. So you have no chance of having a perfect reputation when you do something great.
A century ago, Nicholas Klein said, “First they ignore you. Then they ridicule you. And then they attack you and want to burn you. And then they build you monuments. Take Justin Bieber:A few years ago, he had the most hated YouTube video in history. People hated it; then it went out. The same with Kim Kardashian. It's part of the natural progression as you go from nobody to someone. It will pass if you persist.
In the animal kingdom, a new challenger is first ignored, then mocked, and finally hated– they question people's current status, so people are suspicious. In the human brain, this is called negativity bias. Negativity is more viral than positivity. Eventually, you will be loved – once people realize they can't beat you, they start to ally with you.
—Tai Lopez , investor and advisor to many multimillion-dollar companies that have built eight-figure online empires; connect with Tai on Facebook or Snapchat
4. Relentlessly focus on your tribe.
I was once slandered by a guy who made up lies to ruin my reputation because I rejected his request. I chose success as the answer. Anyone who doesn't do business with you because of lies was never going to do business anyway. Serve those who love you with unrelenting love and service. It's how you build an amazing reputation.
– Com Mirza , CEO of Mirza Holdings and “The 500 Million Dollar Man”; failed in eight consecutive ventures and now runs a nine-figure empire with over 600 employees
5. Deposit reputation currency daily.
Someone I trusted made incredibly damaging accusations about me in an attempt to hurt me in the main groups we share. It could have been the end. Fortunately, some of my deepest friends came to my aid.
I learned that integrity is the currency of your reputation and one day you may need to make a large withdrawal. So make daily deposits. Surround yourself with a reputable tribe of equal integrity:When it comes to your word versus another, the objectivity of the tribe will be key. If there is a conflict, clearly identify and admit your role. At the same time, hold the other party to the same standards, while acting decisively to share the objective truth and avoid gossip or assumptions.
–Chris Plow, advisor entrepreneur and serial entrepreneur
6. Always do what you say you will do.
Always do what you say you are going to do, when you say you are going to do it. Screw and your name is muck faster than you can imagine.
We once did some landscaping work and forgot to replace a dead plant that stuck like a sore thumb. To remedy this, we came back, replaced the plant that day and planted several additional flowers. Take responsibility for mistakes. People will appreciate it.
– Steve Griggs , founder and CEO of Steve Griggs Design ; went from $200 and a mower to seven figures a year
7. Cultivate personal integrity above all else.
As long as your actions are aligned with your inner values, the perception others have of you will have no long-term effect on your personal and professional life. If you focus on a high level of inner integrity, everything in the outer world will eventually work itself out, even when you make mistakes.
—Nafisé Nina Hodjat, Founder and CEO of The SLS Company
8. Always own the problems, then solve them.
I have spent nearly 20 years building both a personal and professional reputation for being impeccable. The key factor has been my willingness to take responsibility for my actions and all my employees and contractors. I work with multi-billion dollar public companies with exceptional reputations. People make mistakes, but when you try to hide those mistakes, your reputation can be ruined. Don't let someone else find out to your client that you made a mistake. First fix the mistake, train your staff better, then give your customer a solution, not a mess!
–Jim Mathers, CEO of North American Energy Advisory, Inc.
9. Look at your idols.
Look at everyone you admire. Their personal brand or reputation is crystal clear and visible to all:they are true to themselves. And because of that, they elicit an emotional response that creates connection, then relationship, loyalty, support, support, and even love.
– Adele McLay , business growth consultant, author, speaker
10. Take control of your character.
In today's world, with a booming fake journalism economy, you have very little control over your reputation, especially as you gain visibility. But you have 100% control of your character. Never compromise on doing the right thing because you think your reputation will suffer. Instead, lean toward transparency. Do the right thing and tell the world.
– Rafe Furst , entrepreneur, investor and co-founder of Crowdfunder
11. Protect your reputation as if your life depended on it.
Even if you succeed, you will still be the victim of online attacks. This is a fact that every entrepreneur needs to make peace and prepare. Protecting your online reputation doesn't happen by accident. Dedicate a budget to strategically build your online reputation so that when a malicious competitor tries to hijack your customers from negative reviews, they don't ruin your business.
In the top 10 spots on page 1 of Google is where your reputation grows or dies.
Too many successful entrepreneurs contact me to help repair their online reputation once the damage has been done. It's much easier to defend against an attack if you started protecting your online reputation before things went south.
– Jerome Knyszewski , CEO of HeavyShift Marketing ; protects and repairs the online reputation of celebrities, products and brands
Related: 9 Lessons Successful Entrepreneurs Wish They Heard Sooner
