guidance on Breaking Bad News to Clients

One of the toughest parts of anyone's job is being the bearer of bad news. We don't live in a perfect world and not every firm transaction turns out the way we expect it to. In my business, there are about 300 ways a transaction can go wrong and about 50 of them we either have no control over or have no visibility of. This is particularly true in involved transactions where there are many dynamics involved in reaching the conclude line.

Unfortunately, somewhere along the path to the conclude line, you may encounter and obstacle a delay or even a deal killer. So, the billion dollar quiz, is: how do you most effectively and professionally break this news to the client while still maintaining the top degree of professionalism while preserving your reputation? The respond is to effectively carry on your client's expectations from the very beginning. You can do this by giving them a few firm mantras they can all the time count on, no matter what happens.

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In my company, it is our course to tell the client from the very beginning, "Mr. Client, we like your scheme and would only accept it if we plan we had a very high probability of funding your project. I can't promise you that it will happen. But, what I can promise you is this: we will all the time tell you the truth, the good truth or the bad truth....just don't shoot the messenger!" We then pause, and can roughly hear a sigh of relief. In the past they've likely had an feel where they were in the dark for a long period of time, only to find out their scheme was denied.

You see, this is what everybody wants. They just want the truth in real time, and they want you to have the courage to deliver it. We supplementary interpret that if there is a problem, we want to get them involved immediately, because they may have some understanding into solving the problem. This seals the bond in the connection in the middle of you and your client. Another thing to tell them up front is that if you have no news to share, you won't feel them. And, not to misconstrue this as negligence, it's just the most effective way for you to run your business.

Again, it goes back to managing expectations in the beginning. If there is a delay, tell them immediately. And all the time go back to your mantra when you have to break some bad news: "Mr. Client, I promised to all the time tell you the good truth and the bad truth as soon as I get it. Today, I have a bad truth to share with you and I need your help in getting this issue resolved." Try it and you'll be surprised. As always, honesty-timely honesty- is all the time the best policy.

guidance on Breaking Bad News to Clients

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