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You can't build a reputation on what you are going to do.

What matters is not whom you know but how you are known to them.

The essence of a good reputation is not in trying to conjure up a good story to hide substandard performance, but in sensitizing management to the need to adjust performance so the deeds speak for themselves. It boils down to deeds versus declarations. A record of responsible deeds is the organization's insurance policy when and if something goes wrong.

In a world where trust is more perishable than ever—where one negative experience can color a buyer’s perceptions forever—businesses must figure out how to effectively capitalize on the trust they have built while at the same time protecting their hard-won reputations. They must also learn how to harness the democratization of information—particularly the Web-based input and unfiltered opinions of self-anointed “experts” and dissatisfied customers—to help market their offerings, handle problems and keep their brands strong.

Most of us separate character and reputation. We define our character as “who we really are” and our reputation as “who other people think we really are.” In situations where their assessment differs from our own, we generally characterize the assessment of others as “wrong.” It takes courage to realize that, in some cases, other people’s view of us may be just as accurate—or even more so—than our view of ourselves.