How Much Is Your Reputation Worth to Your Bottom Line?

Probably much more than you think and a new survey, which revealed that only one in four people believe that business leaders will tell the truth, should give even the most apparently popular of Chief Executives considerable pause for thought.

Trust in business leaders has hit its lowest ever score in the annual IPSOS MORI Trust in Professions survey, for the Royal College of Physicians, since the yearly index began in 1983. The proportion who said they thought business leaders told the truth fell to 25%, a miserable fourth from bottom among 16 different professions about whom opinions were sought in the survey. Only politicians, journalists and Government ministers fared worse.

The bailout of the banks and the recession are being blamed as the major contributing factor to this lack of trust. But it’s all too easy to view reputation as something only large corporate giants, like the banks, have to worry about. In truth, reputation is an issue that should be uppermost in the minds of everyone from the smallest of SMEs to the most high profile of statesmen and women.

Trust is the foundation stone of a positive professional reputation. It inspires confidence from amongst customers, employees and stakeholders and underpins opportunities for growth. Equally, the reverse is also true. A poor reputation will make you absolutely the last person anyone wants to do a deal with, work for, or recommend.

There are countless examples in the media of professional reputations waxing and waning. But perhaps the finest example of a reputation in freefall remains Gerald Ratner, who threw away his job and wiped billions of pounds off the turnover of his company overnight after calling his products ‘crap’ during a speech to the Institute of Directors. In a recent interview he confessed that, some nineteen years later, he still feels haunted by the mistake that cost him his hard-won reputation.

In the day-to-day battle of growing a business it can be tough to find the time and resources to focus on an issue like brand and reputation. But failure to do so can be catastrophic. Your reputation will affect your revenue whether you like it or not.

Could you be one of the business leaders 75% of people – including members of your own company – do not trust?

If you don’t know for certain, then it’s important to your business to find out.

The good news is, ultimately, that the health of your reputation is in your hands. Whilst you might get hit by incidents or events that knock you and your brand in the short term, if your strategy is right, you respond well and you make those events the exception rather than the rule, on balance people will put their faith in you.

But what if you’ve never really thought about your reputation before? Or worse, maybe you only know how much your reputation is worth to your bottom line because, like Gerald Ratner, the bottom has just fallen out of your business following something that you’ve said or done?

In my view, all leaders – no matter how large or small their organisation – should have a clear strategy to ensure that their reputation is positive and actively supports the future growth potential of their company.

I believe that the key to a great reputation is to understand how you come across to your key stakeholders; to learn how to listen and respond to feedback, to have a proactive strategy for your personal brand and to consistently, over time, lead with the behaviour you want people to recognise and put their trust in you for.

As respected US business investor, businessman, and philanthropist Warren Buffet once said: “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”

Perhaps it’s time to find out what your stakeholders really think about you?

Create Your Own Olive Oil Line Through Private Labelling

The hype on extra virgin olive oil is real and there’s no sign of it dying down.

As media spurs news about the so-called super food, more and more people are becoming aware of its capacity when it comes to cooking and health.

Aside from the fact that it smells good and tastes delicious, olive oil has a lot of notable health benefits. For one thing, it has anti-inflammatory properties, prevents stroke, and is rich in antioxidants. It can even alleviate the onset of chronic diseases like cancer, diabetes and prevents heart failures.

Right now, more and more studies are being done about it, further proving its healing power. Truly, it is considered one of the important foods nowadays, thus many people are also stimulated to start venturing into business. So how can you start earning through it?

One of the most effective ways to start your this business is to look for a private label olive supplier.

What is a Private Label?

Basically, private label is a marketing strategy that is ideal for those who want to create their own line of product.

By doing so, you can put your own logo, design, and branding. Also, you can control your own pricing, production, and all sorts of other modifications you might want.

It is also cost effective and much cheaper compared to those branded ones. This is a significant advantage for those who are still fresh in the industry. Cheaper prices can potentially lead to a higher profit margin.

Who Can Do Private Labelling?

Basically, anyone who loves doing business and has the passion when it comes to olive oil but doesn’t have the capacity to produce their own that can do private labelling.

There are numerous ways to use it so if you are creative enough you can definitely start your own product line.

Here are some examples:


Most hotels use olive oil soap and shampoo in their hotel amenity lines. Luxury hotels also use it as skin essentials as well.

Gift Shops

Extra Virgin Olive oil sets make perfect gifts for those who are health enthusiasts or anyone who loves cooking. Since Biblical times, olives have held a high symbolic meaning and have even been called gold liquid. Moreover, it is a unique gift as well.


Restaurants are the biggest potential market when it comes to private labelled olive oil for obvious reasons. By creating their own product line of it, they do not only add potential income, they are also spreading awareness about their restaurant.

If done right, and in partnership with the right private label olive oil supplier, owning a brand of olive oil can be easily attainable.

Time Line For Starting a Bakery

So what is a time line for starting a bakery?

Well… To start with, it means collecting all the information from your thoughts. Asking yourself questions? Very personal questions!

Can I do this?

Do I have sufficient experience?

Is my family on board with this venture?

Do I have to do everything alone?

Am I ready to put my dreams and desires up front?

Can I put my business first before everything else?

Do I have sufficient money to carry me through?

There are many, many, more questions that you need to ask yourself, but only you can ask them and once those personal questions are answered it is time to create your business plan. That business plan is again asking more questions and collecting more information from many different sources.

Once collected it needs to be installed into that business plan.

The time line for starting a bakery can be from a few days to several months and even years. But, once started the ending is usually very satisfying and quite rewarding. At least it has been for me. And though i never started out to become a baker in 1955, i certainly have enjoyed the 53 years i have been an employee of the bakeries in my life and owner of The Crusty Cottage Bakery.

Now given those years of experience and the knowledge gained in those years, it is giving me as much pleasure to show others what and how much i enjoyed my trade.

I would perhaps suggest to you to budget your time. This can be your time line for starting a bakery.

Today buy a notebook or writing pad, start writing down your thoughts and ideas.

Tomorrow, look at other bakeries in your area. Look to see what side of the street their market comes from. What other businesses are close that can complement the bakery or the type of bakery business you plan.

Check their quality and the prices. Look at their decoration and color schemes of the business.

Start compiling your business plan. It doesn’t have to be perfect or in proper order at this stage, but it is worthwhile cataloging into different folders for easy access.

Give yourself say six weeks to compile the business plan.

Be looking for a suitable location to put your business during all aspects of your time line.

You want a realistic time line for starting a bakery. So do not think you can start in one day if you are starting from scratch. Neither do you want to leave anything till tomorrow or next week. That is a sure way to fail.

The old saying “Do not put off till tomorrow, that which you can do today” is so true.

If you are buying into an existing bakery your time line for starting your bakery will be one to three months from start to finish.

The paper work should be seen by a lawyer and an accountant. Discuss with them the legal and accounting ramifications of this new business.

Do not pay any money to anyone till you or your lawyer, have done their due diligence, (just a word to explain investigations).

Believe in yourself first then look at all the information and decide your next move.

By looking at all the numbers from the selling bakery and by your own commitment you will decide one way or the other just what the time line for starting a bakery will be.

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