A few years ago, there was an entrepreneur who went to an investor to raise capital to start the business. Since he had the experience, management and know-how of the industry, all he needed was some investment. The Investor while understanding the business and his expertise agreed to invest money into his business. But when he gave him the money he said “If the business succeeds, then you shall make a lot of money and so do I, but if it fails, then I shall lose the money but you shall lose more than that”. What the investor desired to say is that his reputation would be at stake if the business fails. This was a mind opener to the entrepreneur and he was very careful about the business as well as its reputation. He ran his business in such a way that it never tarnished its reputation and the business succeeded and earned a lot of money for both, himself as well as for his investor.
Moral of the Story: Losing a reputation is not just like losing money. Money could be earned back in a short time, but earning a lost reputation is a monolithic task. If you can safeguard your reputation, then you can also grow from it.
Find more interesting stories in the Book “The Reputation Builder”
Disclaimer: All stories are a work of fiction. The names and characters do not exist, except in the mind of the author built to suit the story. Any resemblance to any persons, living or dead, or any business, in existence or not, is purely coincidental.