Why You Ought to Construct a Private Status Earlier than Beginning a Enterprise

Why You Should Build a Personal Reputation Before Starting a Business

When you are the entrepreneur of a successful business, you automatically build a reputation for yourself. However, there are many benefits to having a better professional reputation before even starting your business.

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26, 2020

5 min read

The opinions expressed by the entrepreneur's contributors are their own.

Before starting a business, consider building a personal reputation. You may be able to do this naturally by achieving notable success in your field. For most people, however, this means that you put a lot of effort into building a personal brand on social media.

Why is your personal reputation such an important factor in entrepreneurship success and what steps should you take to develop it?

The value of building a good reputation early on

When you are the entrepreneur of a successful business, you automatically build a reputation for yourself. However, there are many benefits to having a better professional reputation before even starting your business.

For example:

  • Time and availability. Running a business is time consuming as many entrepreneurs work 60 hours a week or more. This leaves you with little time to develop your personal reputation. Starting this process before starting a business will give you the time it takes to get yourself started.
  • Appeal to investors and partners. An impressive personal brand will also help you approach investors and potential partners early on. Your business idea will be much more impressive when backed by someone who has tens of thousands of social media followers.
  • Early business momentum. With a cult following or a sizeable audience, it will be much easier for you to provide inspiration for your company at an early stage. Once you've got your business up and running, a warm introduction can help you reach new prospects. You will also have more impact on your existing audience.
  • Long term durability. Don't forget that roughly half of all businesses fail within the first five years. If you have a pre-existing professional reputation and your business is going under, it's easy to incorporate your personal brand into your next business.

Related: 8 Reasons Why Having A Strong Personal Brand Makes You Successful

Elements of an Effective Reputation

So what exactly does it mean to have a good professional reputation?

These are some of the key elements:

  • Thought guidance. Part of your reputation depends on your ability to be a thought leader. Thought guidance is a popular concept, but its core idea is easy to understand. You need to propose new ideas and unique thoughts to be seen as an expert, which sometimes means volunteering or deviating from the norm.
  • Industry familiarity. You also need to be familiar with your industry. That means being able to have intelligent conversations and staying up to date on the latest developments. For many newcomers to personal branding, this is the easiest element to master.
  • A large circle of contacts. While numbers aren't everything, your personal brand will be more respectable when you have a large circle of contacts. This is where you can increase your social media followers and connect with like-minded professionals.
  • Commitment and presence. After all, you need to be consistently committed; This way, you will stay tuned with your followers and readers. Participate in discussions and respond to people who ask you questions. Say "yes" to more options.

Related: Your personal brand is just as important as your business brand

Paths to personal brand development

If you want to create a better personal brand before building your business, you should use multiple channels. Before you start managing these tactics, take the time to define the brand you want to build for yourself. What do you want to be known for How will you differentiate yourself from others in your field?

With this set up, one of your top priorities should be to create a website for yourself with a regular release schedule. Your writing will be useful in establishing your status as a thought leader, and over time, these posts will help you rank higher on search engines. They also serve as materials that you can use in other outlets.

From there, you can target an audience using social media platforms like Facebook, Twitter, and LinkedIn. Publish your best posts on site. and engage in frequent discussions. Reach out to new hires on a regular basis and keep in touch with your existing contacts, especially if they are in the same industry. Over time, you can cultivate an audience of thousands.

It's also a good idea to post new posts to outside publishers and feature your industry on podcasts. The more attention you get, the more notable you become. Every new platform or every new news feed that you use will introduce you to a new target group segment and increase the reach of your content even further.

As long as you are consistent in your development and add real value to your industry, you should be able to build a good personal reputation for yourself. Once this is done, it will be much easier for you to attract investors and partners, and you will be able to give your company an early boost when it is time to start developing.