Love this clever turn of phrase from Publius Syrus. Reminds me of something Mark Twain or Benjamin Franklin could have said.
"We must master our good fortune, or it will master us." Let's look at fortune a little bit, and attempt to understand this saying at a deeper level.
Merriam-Webster defines reputation as the "overall quality or character as seen or judged by people in general." It isn't made up of one particular action, although a particularly good or bad one could certainly cement or destroy a reputation.