How Is Your Reputation Affecting Your Bottom Line?

Reputation matters, especially in the case of service providers.

My wife and I were watching "Holmes on Homes," a home improvement show on HGTV. If you've never seen the show, it features Mike Holmes, a contractor in Canada. Mike reconstructs homes where dubious contractors have recently done less than adequate work. After going into the home and assessing the situation, he and his crew demolish the subpar work and rebuild as it should have been in the first place ... if not even better.

While watching the show, it occurred to me that these homeowners had been burned -- many to the sum of $50,000 or more. Yet they let this guy come into theirs homes and suggest major reconstruction. This often includes such things as tearing down walls and ceilings or rewiring a portion of the house, even though these weren't involved in the first construction.

What gives them the confidence to trust this guy even though they have little faith (if any) in contractors? It is his reputation. Sure this is bolstered by the fact that he is the star of a television show. But then again, that's one of the most powerful tools he has in building his reputation.

Here are my questions for you. Do you have a strong reputation in your field? If not, why not? How can you make it stronger? If so, how can you continue to build on it?

If you do not have a strong reputation in your clients' circles, then you are not going to readily get paid what you are really worth. Consequently you must continuously build your reputation. Follow through on your promises. Volunteer your time. Do things your competition is not doing. Do whatever it takes to not only get your name out there, but to also have it associated with a sterling reputation. As a result, you'll also build a more profitable bottom line.

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