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Warren Buffett, chairman and CEO of Berkshire Hathaway, has been able to build and sustain one of the strongest reputations in the business world.

What's even more astounding is that most of the companies owned by Berkshire Hathaway have outstanding reputations of their own. Buffett puts his own reputation on the line through the decisions made by the managers that run his companies.

This is why one of Buffett's highest measures of success is your reputation, bar none. It's an invaluable asset that should be guarded every day. To bolster this point, consider two quotes famously attributed to Buffett:

"It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently."