Friday, August 12, 2011

Axiom 9: A Good Reputation is Better Than Money in the Bank

"The real measure of wealth is how much you'd be worth if you lost all your money.

"It takes many good deeds to build a good reputation, and only one bad one to lose it.
-Benjamin Franklin

Reputation is probably the single most important factor determining a person's success or failure. Look above at the quote above from Benjamin Franklin. What goes through your mind when you read it? To me, I read the quote and get to where I see Benjamin Franklin's name and its his reputation that solidifies my belief in what I read. His reputation was so great that if he wrote that the sky was pink I might believe it. That, my friends, is the power of reputation. 

For me it has always been better to be honest, hardworking, trustworthy, dependable, and let my handshake be as good as a contract. I know sometimes doing the right thing requires more effort, but unless you are one of the smartest people out there you will get caught if you try to pull a fast one.

Your reputation determines your power over other people. It takes a long time to build and can be lost in an instant. Always air on the side of caution when it comes to your reputation - it is your most prized asset in life.

So how do you build and maintain a good reputation?

Simple. Your reputation is made up of three distinct aspects: confidence, character, and experience. Working on these three aspects will help build your reputation. I will delve more into ways that you can work on these three aspects at a later date.

Until then I highly recommend reading The 48 Laws of Power by Robert Greene. He has a great chapter on the power of reputation.