In business as in war, your reputation will always precede you. Thanks to the power word-of-mouth and viral marketing, many customers have will have opinions even before they step in your retail store or “Google” your website. In the era of cutthroat competition and sluggish economic growth, your brand reputation is a double-edge weapon that can be potent or blunt.

How customers distinguish you from other brands is the foundation of power and profitability. It can intimidate others even without making a move. Just the thought of Google entering in your niche is enough to make some entrepreneurs flee and venture in other industries. Now, that’s power!

There are 2 ways to build your brand reputation – offensive and defensive. First, create your reputation based on a simple yet sterling attribute. It can be speed, accuracy, passion for customers, or coolness. Something that others competitors cannot deliver. Be extremely focused. Hype it to a point that it becomes some sort of calling card to proclaim your presence in the market.

The other side is guarding your reputation against rumors and criticisms. Idle talks about your business or brand can turn into a wildfire if you’re not skilled in firefighting strategies. As brands become more powerful, more and more detractors will lunge at you.

Have an RSS feed of your company name so you can monitor who’s writing about you, positive or negative. Be active in your business community and make random phone calls to your customers to gather unbiased feedback. Put extra effort to improve the quality of your product or services. Brainstorm for worst-case scenarios that might happen to your business and prepare the appropriate action plan even before they happen. In short, be paranoid about brand reputation.