Comments on: Professional Reputation Management Services: Stress or Necessity? http://www.businesspundit.com/professional-reputation-management-services-stress-or-necessity/ Entrepreneurship, Startup Companies and Business Philosophy Mon, 23 Nov 2009 02:54:25 -0600 http://wordpress.org/?v=2.8.5 hourly 1 By: Reputation Management Pro http://www.businesspundit.com/professional-reputation-management-services-stress-or-necessity/comment-page-1/#comment-10287 Reputation Management Pro Mon, 03 Nov 2008 15:02:06 +0000 http://www.businesspundit.com/?p=6062#comment-10287 There are multiple reasons for monitoring and managing your company's reputation online, regardless of size. Let me offer a perfect example: One of my clients was a small oil and natural gas drilling and investment company (approximately 12 employees). Early on, this company made money by buying into larger drilling projects and reselling percentages of their share to investors. Due to SEC regulations, a qualified investor must own so much in liquid assets and meet the minimum income requirements. This type of person does not invest without research, and they always Google the name of the company and the CEO to learn more about their reputation, integrity, and history of success. Someone went to a public forum for oil and gas investors and began submitting falsified information about my client. This information was the first impression many investors had when seeking to learn more, and we still don't know how many potential investors were lost during that time period because no one was monitoring the company's and CEO's reputation beyond simple vanity searches. We're talking potential millions of dollars lost due to a bad impression. There are too many oil and gas companies out there. Investors will find someone who doesn't have a major black mark on their record to trust their money with. This small company benefited from online reputation management, but would have saved money had they been monitoring and managing BEFORE a crisis occurred. Now they know better. Sadly, this is the most likely scenario for most business owners. With tight budgets and a struggling economy, CEOs and CFOs gamble on their future reputations and profits by waiting to spend on online reputation management until disaster strikes (and they're just hoping it never will). The buried ostrich head in the sand approach is a gamble most companies might not take if properly educated about the risk versus reward of proactive management. There are multiple reasons for monitoring and managing your company’s reputation online, regardless of size. Let me offer a perfect example:

One of my clients was a small oil and natural gas drilling and investment company (approximately 12 employees). Early on, this company made money by buying into larger drilling projects and reselling percentages of their share to investors.

Due to SEC regulations, a qualified investor must own so much in liquid assets and meet the minimum income requirements. This type of person does not invest without research, and they always Google the name of the company and the CEO to learn more about their reputation, integrity, and history of success.

Someone went to a public forum for oil and gas investors and began submitting falsified information about my client. This information was the first impression many investors had when seeking to learn more, and we still don’t know how many potential investors were lost during that time period because no one was monitoring the company’s and CEO’s reputation beyond simple vanity searches. We’re talking potential millions of dollars lost due to a bad impression. There are too many oil and gas companies out there. Investors will find someone who doesn’t have a major black mark on their record to trust their money with.

This small company benefited from online reputation management, but would have saved money had they been monitoring and managing BEFORE a crisis occurred. Now they know better. Sadly, this is the most likely scenario for most business owners. With tight budgets and a struggling economy, CEOs and CFOs gamble on their future reputations and profits by waiting to spend on online reputation management until disaster strikes (and they’re just hoping it never will). The buried ostrich head in the sand approach is a gamble most companies might not take if properly educated about the risk versus reward of proactive management.

]]> By: Reputationist http://www.businesspundit.com/professional-reputation-management-services-stress-or-necessity/comment-page-1/#comment-10145 Reputationist Wed, 29 Oct 2008 14:05:47 +0000 http://www.businesspundit.com/?p=6062#comment-10145 What I hear in your response to reputation management is someone who is comfortable with their persona. I would suggest that his comfort is not that wide spread. In those cases where is some question or uncertainty keep those situation in mind is important. The accompanying point is with that uncertainty would also could benefit from planning a strategic plan in place to set in motion the kind of reputation that suits the leader's need. What I hear in your response to reputation management is someone who is comfortable with their persona. I would suggest that his comfort is not that wide spread. In those cases where is some question or uncertainty keep those situation in mind is important. The accompanying point is with that uncertainty would also could benefit from planning a strategic plan in place to set in motion the kind of reputation that suits the leader’s need.

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