Here’s How Start-Ups Can Establish Credibility

Credibility is one of the most important traits of a business. It determines whether your business will be successful, or will it fade into the background.

 

Imagine a scenario where you are trying to convince a team of investors to equip a new technology that costs a fortune. You could easily persuade them. However, the challenge is that your investors are meeting another team of burgeoning entrepreneurs, who have a similar proposal to make. And these guys have already established credibility in the market.

 

Whom do you think investors would choose?

 

The team who has been deemed credible, right?

 

Hence, it is important for you to focus on building a reliable image. But, here’s a tricky aspect about credibility: it cannot be established overnight. So, as a start-up, you need to engage in strategies that help you sell your products and build a trustworthy reputation in the market.

 

In this article, I will share the fundamentals of earning credibility. Let’s understand what goes into building a business that is trusted by everyone, suppliers, investors, lenders, and customers.

 

Be Honest

One thing that will crush your business credibility is dishonesty. Be honest about what your customers have to say about your goods or services. If it has negative feedback, let your investors or lenders know about the efforts you are putting to make your products better.

 

Stakeholders and investors seek transparency from entrepreneurs, they are investing their money into something, hence they deserve honesty from you.

 

Be Knowledgeable

As the owners of a business, along with employing skilled people in the team, you and your co-partners too must be skilled in all aspects of the business. This will instil confidence in your stakeholders and build a foundation of trust towards your business. When you know what you are doing, people know you can be trusted.

 

Be Friendly

When your customers contact you to give their feedback or share the issue they are facing with your products, be polite to them. Form a team of friendly and responsive customer support, who will try to fix their issues as soon as possible instead of deferring or denying it.

 

When you are good to your customers, they will share their experience on online platforms such as Google, Facebook and Twitter. Good feedback across online platforms is important for businesses, as it helps you create a credible image.

 

Be Confident

It is difficult for start-ups to establish a reliable standing in the market via endorsements or achievements, However, if you are confident about yourself and your business proposition, it will speak volumes for you.

 

Make Use of Dun & Bradstreet’s Credibility and Business Insights Group

You can position your business with Dun & Bradstreet’s proprietary suite of reports, which acts as a catalyst in generating interest among existing and potential stakeholders, investors, and lenders.

 

Let a trusted company like Dun & Bradstreet offer its outlook on your business, so you can establish legitimacy, creditworthiness, overall market standing, and business viability. This tool is especially helpful for new businesses, who are trying to gain some visibility (good image) in the market. This also helps you get a D-U-N-S Number which puts your company on a Global platform.

 

Credibility is often ignored by entrepreneurs, but it is the most important aspect of being successful. If you are credible, your partners, stakeholders, and investors will trust you even during a downfall. You can inculcate the aforementioned qualities within your business and utilise Credibility and Business Insights Group to earn the trust.