Show Notes

Air Date: 9/28/2021

How PR Can Build Your Business a Bank Account of Goodwill

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” In today’s world of seemingly constant crisis, Warren Buffett’s words ring truer than ever.

But this begs the question: How do you build your reputation? And, when crisis strikes, how do you prevent that reputation from being ruined?

Public relations can go a long way — long before crisis strikes. PR can help build your bank account of goodwill, granting you the positive capital to survive the ebbs and flows of positive and negative publicity. If you have a positive bank account of goodwill, then typically you can survive a negative “hit” to your reputation and still have a positive balance left over. However, if you already have a negative balance, then you’re just shoveling more and more dirt on the grave that is your business — whether it means a bad news cycle, lost customers or even bankruptcy.

Continue reading here.

 

The article read in this episode originally appeared on the Forbes Agency Council CommunityVoice™ in July 2021.

 

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