By Nick Tolksdorf

Your name is the only thing you have when you’re born, and it’s the only thing you take with you. The importance of understanding the worth of your name cannot be understated. Your reputation is the most critical aspect of your professional life and a strong, positive reputation is a key component in building and maintaining business relationships. Much like a drill sergeant inspecting his troops, the slightest difference can go a long way to being noticed. In a business environment where competing companies can be virtually identical, a good reputation is the differentiator you need to be competitive.

Your reputation is built and maintained through trust. To build trust, you need to be able to articulate to your client what actions you are going to take, and then follow through on your plan. This requires you to be able to honestly assess what you can accomplish and avoid making promises too big to keep. By actually doing what you say you will do, you establish a precedent for future interactions that your clients can trust your word.

Simply being smart is not enough to succeed. You need to find a way to differentiate yourself. Every firm and business employs smart people, but being smart doesn’t make your company money, getting results does. Being able to apply your skills and achieve the results you set out to achieve for your client builds a strong business relationship that can lead to future business together. Repeated successes become a reputation for success, which in turn leads to more clients. This means that a good reputation gives your business a critical competitive edge.

Additionally, the mentorship of young professionals is important for the long-term growth of your business. By helping young professionals grow, you plant the seeds for new business relationships when they begin to reach managerial positions and can influence the “buy” decision for professional services. Sadly, young professionals today tend to miss this valuable opportunity to develop strong business relationships with their employer and to learn what it means to be a professional. Instead they prefer to job hop, hindering their ability to learn and grow as a professional.

Your reputation is your business’ single most important asset. It is imperative that you develop it and allow it to work for you. Investing in it will help your business stand out and be competitive in your field.