Joel Peterson on How to Build a Reputation
My strategic communications team sought to interview a business leader at the GSB who emanates warmth and competence. We all thought of Joel Peterson. Within four hours of emailing him, he responded and agreed to meet us before his JetBlue board meeting. His willingness to accommodate us on such short notice conveyed openness, adaptability, and genial preparedness. and commitment . It comes as no surprise that Joel’s reputation at the GSB, taken from an informal poll of MGE students, is kind, warm, committed, and firm. How has Joel developed such a stellar reputation?
Joel has a clear approach to building a reputation. Articulate your values clearly and carefully, and think of them as priorities and not virtues. Then communicate these values clearly through your words and actions. Consistency between words and actions is key to building a reputation.
While many of us might be successful in articulating values, communicating them to others can be challenging. We may know what we stand for, but don’t know how to get others to see that. I’ve read articles and books on branding that talk about its importance — the idea of Me Inc. — but few provide concrete steps to execute this essential task. . Joel had some good suggestions: Negotiations, conversations, and stories are effective vehicles for communicating values.
Joel believes that reputations are either reinforced or violated in negotiations. “A lot of people feel like it is a win or lose game. I solve for fairness. I try to understand what the other party wants and try to give it to them at a cost that is attractive to me. I may give them a dime for two nickels. I try to make a fair trade.” He now earned a reputation of being collaborative and fair, and consequently others want to conduct repeat business with him. .
Joel argues that honesty and integrity are other important values for his success. These come through when he spoke candidly about the mistakes he made or his references to a personal journey from egocentric to more selfless management.“When you make a mistake”, Joel told us, “recognize it as fast as you can and apologize. There is nothing quite as powerful as a real apology.”
Stories are another way to communicate values. Joel shared an anecdote about his willingness to invest in a student of his when no one else did. Andy Dunn, a GSB student and founder of Bonobos, had just disbanded a working partnership with his co-founder and friend. Despondent and unable to find further funding or support, he came to Joel. Joel knew Andy as a student and had a good impression of him. He felt that Andy had good values and so offered to invest in his vision while refusing Andy’s offer of a Term Sheet. Bonobos’ story showed Joel’s kindness, independent thinking and willingness to mentor and trust the capabilities of those he taught to make smart decisions.
Having a crisp reputation — the essence of what people experience with you — starts with consistency, and is the foundation of effective leadership.
