Business Awards: To Pay or Not to Pay?Sep 26, 2023
The Truth About Buying Business Awards: A Shortcut to Success or a Slippery Slope?
Over the past few months, we've been approached by several organisations telling us that we've won or been nominated for various business awards. Each time, we politely declined the offer. Why? Because every single one of these organisations wanted money in exchange for granting us an award. The price tag ranged from a few hundred dollars to thousands. What struck us the most was that there was no clear criteria for winning these awards; it seemed the only criterion was our wallet.
That's not our vibe - at all.
As entrepreneurs, we all yearn for recognition for our hard work and dedication. Awards and accolades can indeed be a fantastic way to celebrate our achievements and build credibility in the business world. However, buying business awards is not the way to go.
In recent years, a concerning trend has emerged among entrepreneurs and businesses—a trend of purchasing awards and accolades to embellish their websites and office walls. While it might appear as a shortcut to success, let us tell you why it's not the authentic path to greatness.
Credibility and Authenticity: Genuine awards are earned through hard work, innovation, and exceptional performance. Buying awards not only diminishes our credibility but also undermines the trust of our customers, partners, and peers.
Missed Growth Opportunities: When buying awards, the opportunity to focus on real growth and improvement is missed. True success comes from continually striving to be better, not from seeking external validation.
Wasted Resources: Money spent on buying awards could be better invested in the business. Whether it's research and development, marketing efforts, or employee training, these resources could significantly impact our bottom line.
Short-Term Gains, Long-Term Losses: Quick fixes seldom lead to long-term success. Instead of chasing instant gratification, entrepreneurs should focus on building a sustainable business that consistently delivers value.
Damage to Reputation: Once the truth about buying awards comes to light (and it often does), the damage to our reputation can be irreversible. It's not worth risking the trust and respect we've built with our stakeholders.
Missed Opportunities for Real Recognition: Authentic awards often come with extensive networking and visibility opportunities. When buying awards, the chance to connect with industry leaders, potential partners, and mentors is missed.
So, what's the alternative? Invest time and resources in the business, the team, and the community. Create meaningful impact and aim for excellence. When recognition comes our way, it will be because we've earned it, not because we bought it.
Join Female Fusion
No matter what stage you are at in your business journey - everyone has a place at the table. This is where we start, build, grow and scale our businesses - TOGETHER.