Business
The Reputation Cost of Financial Missteps: Travis Schreiber on Rebuilding Trust
Global Banking and Finance Review
Company
Travis Schreiber, Director of Operations at Erase, has seen this happen countless times. He’s spent years helping businesses and professionals manage how they appear online. “You can’t separate money from reputation,” he says. “When a lien or bankruptcy shows up in search results, people assume it’s a red flag, even if it’s old or resolved.”
Perception is reality in business.According to BrightLocal, 84% ofpeople won’t consider a company rated below 3 stars online[1] , and financial issues can have the same effect. They signal instability and create hesitation.
Avoid shortcuts. Buying fake reviews or paying shady “removal” firms can backfire. With the FTC’s 2024 rules, deceptive review practices can trigger fines up to$51,744 per violation[2] . In the UK businesses can face penalties up to 10% of global revenue[3] .
A financial misstep refers to a mistake or error in financial management that can lead to negative consequences, such as loss of money, poor investment decisions, or damage to a company's reputation.
Consumer perception is how customers view and interpret a company's brand, products, or services, which can significantly influence their purchasing decisions and overall trust in the business.
Bankruptcy is a legal process through which individuals or businesses unable to repay their debts can seek relief from some or all of their liabilities, often resulting in the liquidation of assets.
Fake reviews are misleading or false evaluations of a product or service, often created to manipulate consumer perception and influence purchasing decisions, which can lead to legal repercussions for businesses.
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