to
called
understand
articulation University,
of Business: NN
this
entrepreneurs.
An
by
I
the
community like
North-Eastern
D’Amore-McKim
entrepreneur
the
is
School
defined
as
anyone who founds or organises a
business, then continues to be an
active participant in the operation of that business. In other words,
an entrepreneur is anyone who launches and continues to run their own company. NN
They further say that there are 4
types of entrepreneurship models: small up,
business,
large
scalable
company
entrepreneurship.
and
start-
social
Entrepreneurs are a large and key part
of the value chain of large organisations. They are the backbone of the Indian economy. I am not planning to bring
many statistics to validate this actuality, as that would be preaching to the choir,
but I do want to highlight some data. According to msme.gov.in: NN
The
Micro,
Small
and
Medium
Enterprises (MSMEs) produce over 6,000 types of different products. NN
They are 50% of India’s total exports.
NN
They contribute to 45% of India’s total industrial employment.
NN
And, represent 95% of all industrial units of the country.
The
entrepreneur
community
have
been game-changers for the Indian economy; not only for their ideas, but also
for
imagination
their
and
vision, grit.
gumption,
They
have
innovated, kept pace with the times
and adapted to new concepts and tools to stay competitive. They have grown their businesses and are extremely successful. They are sharp and on top of their game. They have the relationships,
the brand and the equity, which have been
nurtured
with
utmost
care.
They have clarity of their purpose. Entrepreneurial spirit as a leadership trait has a place now in the corporate world.
102
Understanding Entrepreneurs What caught my curiosity is, what does this community of entrepreneurs do to
get their relationships, brand and equity to serve them better and claim that rightful space?
Let’s use 3 questions to set the context to
this
conversation
on
how
this
community manages their reputation.
The 1st Question I Always Ask is, “How Did it All Start?” I like this question. There is always an inspiring story here, sometimes spanning
generations.
It’s
always
unique, as there are so many pegs around which the story of any start-up can be written. The core narrative is kind of institutionalised.
The 2nd Big Question is, “Who Are You Serving?”
moments:
which
intangible
asset
events,
an
as one of the building blocks of their business early in the game. Business
is
all
about
by
Knowing your pillars of reputation management helps create competitive advantage! Reputation can be defined by two characteristics, whether for
individuals or companies: Capability and Character.
According to me, both are needed. Reputation is also made of defining
by
the
entrepreneur
communities
reputation management and fits in well
doing. I
with
what
Under
have
they
each
shared
have
of
some
the
been
pillars,
indicative
measures. This is not by any means an exhaustive list.
Foster Trust NN
Entrepreneurs they
appreciate
themselves
are
the
that
chief
ambassadors of their companies. NN
They understand being consistent and proactive with their presence,
engagement and communication is important. NN
They have many unique stories
to share of their legacy, business, vision, people, product, challenges, opportunities, coincidences, failures,
wins, values, solutions, innovations, and more.
Invest in Relationships They align and rally people around their company’s shared purpose. NN
They strive for win-win solutions to
- Brad Sugars
Reputation Management: A Strategy
experienced
are intuitive. ‘FIND’ is my acronym for
NN
how well they build your business.
is
measures for reputation building used
relationships.
How well you build them, determines
organisation
My observations say that most of the
Whatever their offering, they have
management
an
reputation,
extended period of time.
The 3rd Question is, “When Did You Start Investing in Building Your Equity?” reputation
like
its stakeholders, consistently over an
on who and what they would like to
integrated
isolated
Building
you are as a company. It is the way
policy meetings. They also have a plan include next in their game plan.
not
requires being authentic about who
chain - be it customers or the extended
customer seminars, trade shows and in
are
endemic.
requires listening, empathy and care. It
They have their arms around their value stakeholders. I have met them in
but
create
long-term
their company. NN
They
consistently
equity
identify
for
and
navigate their stakeholders to the value they bring.
Nurture Networks – The Obvious and Not So Obvious NN
They are on the front foot looking
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POLYMERS Communiqué l June - July 2021
