5 Ways to Prove Your Business’ Credibility to Peers, Competitors and Investors

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Credible Business

Most businesses aspire to be the “next big thing” in some way, shape or form.

They want publicity. They want to attract the attention of investors, meanwhile making their competitors and peers green with envy.

In short, they want credibility.

But being credible in the eyes of your industry isn’t all about your product, nor does it all boil down to your marketing. Instead, it’s about proving what you’re worth.

And that’s the keyword. Proof.

That is, where you’re going and where you’ve been, financially, historically and legally.

So how can businesses provide hard proof concerning their viability and credibility? Consider the following five strategies as a solid starting point.

Undergo an External Audit

You can sing your own praises all day, but they mean very little until a third party assesses exactly what you’re worth. Undergoing an external audit can help you do exactly that, providing objective evidence about where you stack up versus industry standards. Just bear in mind how to prepare for an external audit and record your results accordingly.

Sport a Squeaky Clean Legal History

Distancing yourself legal trouble seems like a no-brainer, but you’d be surprised at how many companies reputations sink themselves due to a scandal.

The more visible you are in your industry, the more a squeaky clean legal record matters. Also bear in mind how you’re only as good as the company you keep: vetting your employees and coworkers likewise matters toward keeping your reputation spotless.

Boast Your Financial Track Record

Although dollars and cents aren’t everything when it comes to your business, people will always ask first and foremost about your financial track record.

From money you’ve made on behalf of clients to growing a startup from scratch, any stories you can tell which display your ability to score a positive ROI are a major plus. Likewise, any funding you’ve managed to win in the past is also a good indicator of your success.

Let Satisfied Customers Speak for Themselves

One of the best ways to boost your credibility is by letting others do the talking in regard to what you’re worth. Consider how social proof in marketing in the form of reviews, testimonials and case studies can make your business look like a million bucks. When you have others talking about your positive results organically, your industry will take notice.

Come Up with the Perfect Pitch

Finally, having the confidence to approach investors signals just how much you believe in your company and its message. By preparing a pitch deck that’s investor-ready from the word “go,” you increase your likelihood of being taken seriously by potential sources of funding. If nothing else, the legwork involved in creating a pitch deck allows you to assess your strengths and use those to your advantage when speaking to anyone in your industry.

Every budding business should aspire to prove exactly what they’re worth to attract the right kind of attention from their respective industries. Through sticking to these strategies, your own company can put its accomplishments and credibility on display for the world to see.

Author: Susan Melony