People frequently overlook the value of having a good reputation until things deteriorate. However, it’s important for individuals and businesses alike, especially if they aim to expand beyond their existing reach.
A company’s reputation is a valuable asset that should not be treated lightly. Building a positive online image requires a deliberate effort that will ultimately determine the success of your company. We will explain why you need to build a positive reputation and how to maintain it.
Table of contents
- Benefits Of Having a Positive Business Reputation
- How To Build a Good Reputation in Business Online
- How to Keep a Good Reputation
Benefits Of Having a Positive Business Reputation
Approximately 20% of new businesses fail within their first two years, 45% in the first five years, and 65% in the first 10 years, according to the U.S. Bureau of Labor Statistics. With these statistics, one would wonder about the causes of this increasing business failure. While there are a number of reasons associated with this failure, the major reason is the lack of a positive reputation.
Companies with good reputations have a tendency to last longer than companies that are struggling to build a good name for themselves. The BLS statistics also state that only 25% of new businesses make it to 15 years. Some examples of companies that have a positive business reputation and have passed the test of time include:
- The Walt Disney Company: In the entertainment industry, Disney comes first with top-notch, family-friendly entertainment. The Marvel and Star Wars movie producer has garnered a positive business reputation since its inception and is one of the top companies with a good reputation.
- Samsung: Known for producing electronics and smart appliances, Samsung is another reputable company that has been in business for a long time. The innovative tech company has retained a good position because of its many offers and benefits to customers, thereby building its reputation. Read more: https://bit.ly/3qcG802