Entrepreneurs achieve success by having an optimistic plan of where they want to be. However, if you can’t follow through on your plans and commitments, your public persona will erode, which is terrible for you and your company. Consequently, beware of the impact of overpromising and under-delivering on your business plans.
Bad Impression of Your Credibility
To preserve confidence and expand your firm, you must honor your commitments. While certain businesses with a high customer turnover rate may be comfortable providing subpar service, most can’t operate that way. It might take years to establish your reputation, but it takes only one or two dissatisfied clients to bring everything down. Honesty is the best way to avoid these pitfalls, or else your house of cards could tumble.
Negative Word-of-Mouth Spreads
No one wants to share their view on the world more than a dissatisfied customer. Customer connections are your company’s foundation, so if your efforts result in dissatisfied clients, expanding may be difficult.
Even with the greatest of intentions, mistakes may happen. Take responsibility for the problem if you can’t fulfill a delivery, can’t make the deadline, or must break your word for whatever reason. Contact the client immediately, explain your situation, and provide an updated timeline. Don’t choose an arbitrary date and risk failing a second time; otherwise, you may lose their company completely.
False Expectations Lead to Poor Results
Your objective is to gain someone’s goodwill and prolong their happiness. Making stuff up in front of customers isn’t what you do. While it’s vital to maximize your earnings by cross-selling, it’s best to try and avoid setting unrealistic expectations for your clients. If you do, you’re writing a check your mouth can’t cash.
If anything goes wrong, don’t assign blame. You’re accountable, even if you didn’t have a hand in it; dishing out blame makes you look weak and untrustworthy. Although it may be hard to accept, taking the brunt of the responsibility is your best play.
Lose Clients
The ultimate impact of failing on either side of the coin is losing a client’s business permanently. Because of the intense competition in business, you must establish your brand by providing elite service, unwavering trust, and effective delivery.
If you keep losing business, you’ll inevitably need to raise your client acquisition plan and hunt for creative methods to keep your existing clients.
Failing to recognize the impact of overpromising and under-delivering will lead you down the wrong path. Finding a middle ground for each action is paramount to ensure that your customers keep a smile on their faces and you maintain a long-lasting relationship with them.
