I was at the Confederation of British Industry's annual conference a few weeks ago during which a panel discussion focused on the interesting subject of business reputation.
The stage was awash with CEOs and MDs who despite their no-doubt huge salaries I'm sure most people wouldn't envy. Steve Easterbrook, UK managing director, McDonalds; Martin Broughton, former chairman, British American Tobacco; Iain Coucher, chief executive, Network Rail – see what I mean - companies which have taken and continue to take quick a bit stick!
But all of what was said during the discussion is pertinent to small businesses. Your reputation is vitally important to your success. And in these days of social media, managing that reputation among the general public is vitally important. Do something wrong and within minutes negative stories will be visible to the entire work on the internet.
Ultimately, you have to accept that you can't always do things right but it's how you accept your mistakes and respond in putting them right that's key.
Developments in technology have actually made it easy to interact with your customers and clients. Only a decade ago it was a lot to harder to find out what the public was saying about your company but type your business name into Google nowadays and you can find out.
And if big businesses like McDonalds are doing it why aren't you? At any one point, Easterbrook told the CBI delegates, there are more than 100,000 blogs discussing his company. Admittedly, references to your small business are going to be nowhere near that figure but if you're to become an owner of a company anywhere near the size of the fast food giant you should be out there on the web chatting, posting, networking and engaging. "There's a greater opportunity with more customers than ever before to build understanding," Easterbrook said. Take his advice.
Many small firms are already doing it. Richard Osborne, founder of company formations service Quick Formations, told me earlier this year that if he had to give small company owners one piece of advice it's "be honest, admit when you've done something wrong and put it right". To communicate directly with his customers he has used the likes of UK Business Forums, something he couldn't have done 10 years ago but by doing so allows the world to see he's honest and willing to rectify problems when they occur.
Equally important in engaging with the public is making sure transparency, openness and honesty is embedded into your entire company structure with staff fully aware of the importance. If you apply such simple rules, you'll place your business on the road to success.
To conclude, I'll refer you to another speaker at the CBI conference. Albert Ellis, chief executive of recruitment firm Harvey Nash, urged businesses to follow three tips:
The stage was awash with CEOs and MDs who despite their no-doubt huge salaries I'm sure most people wouldn't envy. Steve Easterbrook, UK managing director, McDonalds; Martin Broughton, former chairman, British American Tobacco; Iain Coucher, chief executive, Network Rail – see what I mean - companies which have taken and continue to take quick a bit stick!
But all of what was said during the discussion is pertinent to small businesses. Your reputation is vitally important to your success. And in these days of social media, managing that reputation among the general public is vitally important. Do something wrong and within minutes negative stories will be visible to the entire work on the internet.
Ultimately, you have to accept that you can't always do things right but it's how you accept your mistakes and respond in putting them right that's key.
Developments in technology have actually made it easy to interact with your customers and clients. Only a decade ago it was a lot to harder to find out what the public was saying about your company but type your business name into Google nowadays and you can find out.
And if big businesses like McDonalds are doing it why aren't you? At any one point, Easterbrook told the CBI delegates, there are more than 100,000 blogs discussing his company. Admittedly, references to your small business are going to be nowhere near that figure but if you're to become an owner of a company anywhere near the size of the fast food giant you should be out there on the web chatting, posting, networking and engaging. "There's a greater opportunity with more customers than ever before to build understanding," Easterbrook said. Take his advice.
Many small firms are already doing it. Richard Osborne, founder of company formations service Quick Formations, told me earlier this year that if he had to give small company owners one piece of advice it's "be honest, admit when you've done something wrong and put it right". To communicate directly with his customers he has used the likes of UK Business Forums, something he couldn't have done 10 years ago but by doing so allows the world to see he's honest and willing to rectify problems when they occur.
Equally important in engaging with the public is making sure transparency, openness and honesty is embedded into your entire company structure with staff fully aware of the importance. If you apply such simple rules, you'll place your business on the road to success.
To conclude, I'll refer you to another speaker at the CBI conference. Albert Ellis, chief executive of recruitment firm Harvey Nash, urged businesses to follow three tips:
- Communicate authentic messages
- Embed a culture of transparency in your company
- Accept that leaders do make mistakes so know where your reverse gear is
