Brand Reputation Matters, Especially in a Tough Economy  
by Cathlyn Driscoll

As a business owner, your brand is your reputation, and your reputation is your brand. What your clients and vendors think of you can spread like wildfire, whether that be a good reputation or a bad one. Your brand is easily hurt so guard it with great care. Honoring your commitments, providing the services you promised, and paying your bills promptly. During this challenging economic climate, it can be difficult to pay your bills. We all know that, we are all in the same economic mess out there. But an effort should be made to pay them none the less. If you are having some challenges of late, seek out the person or company you are indebted to, tell them that you intend to make good on your debt, and even if it takes you longer to pay, you’ve protected your reputation in the meantime. You did the honorable thing. You owed up to you debt, acknowledged it, and promised again to pay. Far worse is the company or business owner who ignores his or her debt, or makes excuses why they are not paying.

Small Local Businesses
If you are indebted to someone in your local area and behave like this, surely the word will soon be out on the street that you don’t pay your bills. What does that say about you and your business? You cannot be trusted. Vendors will be apprehensive to work with you, as they feel they won’t get paid. Where will you be without your vendors? Remember, just as in life, you want to treat everyone the way you'd like to be treated. Even if you have a sterling reputation to start with, failure to live up to your obligations can take you down swiftly and hurt your business for a long time. Why chance it? Remember, if you've signed a contract, you are legally obligated to make good on your word too. The best bet is to just follow through and avoid legal actions of any kind. Guard your reputation, your brand and your business carefully. It’s a delicate thing.

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