Your corporate reputation is the first thing that impacts execution of your strategy
Let’s be clear what we mean by your corporate reputation. We are not talking about designing corporate logos and slogans, but the more important question of what do your customers, competitors and partners think about your company.
Why does this matter? Because what they think about you determines what is possible for your company right now.
If customers know you as a product company, you will have a hard time selling them a solution.
If three different companies made the same market entry move, the incumbent may regard one as harmless, another as too strong to counter, and a third as requiring immediate aggressive action to block. It is the different competitive reputations that determine the different reactions.
Before you even get to the negotiating table, your reputation will have got there first. It impacts potential partners and colours their reaction to any deal you propose.
How can you cultivate a reputation to make executing your strategy easier? There are no short cuts – it takes consistent, persistent action, aligned to the reputation you want. Show customers results generated by your strategy. Train your competitors through repeated action/reaction cycles. Avoid any inconsistent action. The impact can be enhanced by consistent and ongoing communication, but words will make no difference on their own.
