Agree or Not, It's Considered Reality
Berkshire Hathaway leaders talk about the sharp-edged reality of reputation
The realities of reputation are not always pleasant. We or people we know may disagree with what one is and then struggle to positively influence critics’ conclusions, judgments and narratives about that reputation.
Berkshire Hathaway Vice Chairman Charlie Munger and Chairman and company CEO Warren Buffett talked a little about this at a Berkshire Hathaway Inc. annual shareholders meeting in 2015.
“For a while, you can fool people…,” Buffett said, “but when you get to be my age, whatever reputation you have, it's probably the one you deserve.”
I can see people shaking their head and hear them cursing now.
True, you can fool people. It happens so much more than it should. As far as what else Buffett said, let’s briefly talk about it. He says “when you get to be my age…” when the truth is the reputation you have and maybe, “deserve” can happen at a much, much younger age.
At the same time, his point is one to consider: Often, but certainly not always, a reputation — and I think he’s talking mostly about one being negative — is deserving, whether a person impacted by it likes it or not.
We are always building or deconstructing our reputation, for better or worse. So it is wise to be thinking about potential or likely negative impacts on people.
It’s also true that some damaged or completely mangled and “ruined” reputations are not deserving. We know why. Incomplete stories. False perceptions and faulty conclusions, misunderstandings, lies, guilt by association, etc.
Going back to Buffett’s assertion, yes, usually at his age (in 2015), a reputation is more likely to be accurate, based on behavior, especially when he has been closely covered by media and well known for decades. This can go for a person not covered by media too. In our own families we’re constantly watched. In relationships, business, workplaces, etc.
Munger had a thought on reputation as well. "Hardly anything is more important than behaving well as you go through life,” he said.
When you think about how people judge promptly and harshly and the consequences and punishments we can endure, it does pay greatly to be wise in our thoughts, impulses and behavior.
Michael Toebe is a reputation consultant, advisor and communications specialist at Reputation Quality, assisting individuals and organizations with further building reputation as an asset or ethically protecting, restoring or reconstructing it.
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