Bad Blood by John Carreyrou, Re-read Week 7, Chapter 9: The Wellness Play

This week the fallout from overpromising the on the ability to deliver the miniLab spreads to Safeway in our re-read of Bad Blood, Secrets and Lies in a Silicon Valley Startup.  Overpromising is a problem every team and organization faces. Almost all humans want to say yes and make people happy. As trained problem solvers, we rarely meet problems that we can not overcome, and hence we are…

Robo-advisers may be overpromising investors on the benefits of 'tax-loss harvesting’

Leading automated financial advisers — often called”robo-advisers” — such as Wealthfront and Betterment tout daily tax-loss harvesting as a way to significantly increase your returns. But independent research suggests the technique has less effect than claimed and may be more a gimmick than a true advantage for invest… Personal Finance

Work has not been.

These are things I’ve been told in the past:

"You have the work ethic of a dead person"

"You are the most part-time stripper I’ve ever supported financially"

"Wait, you’re still doing that?"

"I don’t think you can call yourself a stripper anymore"

"Seriously? Are you coming in?  I’ve been at the club the past couple weeks to see you and you’re never there"

By Craig Ballantyne, ETR, July 12, 2012 My mother is not the type to get upset. But I could sense the irritation in her voice when I asked, "How's your new house coming along?"

 It had been over three weeks since I last visited the farm, and, unfortunately, there had been practically no progress made on her new house. She listed the excuses she had been given from the contractors, her voice full of exasperation.

 Later that afternoon, Bally the Dog and I went for a walk from the current farmhouse over to where the driveway had been laid for her new home. It was less than a mile walk over the stream, through a cornfield, and up a hill. There we found the grounds to be almost exactly the same as they were last month. The foundation had not even been poured.

 I could see why she was so disappointed. When the project was initiated, she was assured of a move-in date of July. Now it's looking like September at best.

 This was a classic case of a business over-promising and under-delivering and thus failing to meet the expectations previously set in my mother's mind. This is one of the biggest, most common communication mistakes that people make on a daily basis.

 How many times has someone promised you the following and then left you waiting?

 "I'll be home by seven o'clock."

 "I'll have that report on your desk by the end of the day."

 "I'll call you back in an hour."

 Or worse, how many times have you been the one making false promises? How many times this week? How many times today?

 It's a mistake you can't afford to make, not when you want to build long-term relationships with clients or colleagues.

 Instead, you must use the "make a promise-keep a promise" system. That's the formula for success. That's the equation for deep relationships.

 Make a promise. Keep a promise. It's so simple, yet day-after-day we see businesses, politicians, and spouses all over the world drop the ball on this.

 In your family life, you simply need to do all that you say you're going to do. If you promise to be somewhere at a certain time to do something, you must fulfill your obligation. And, just as important, as self-improvement legend Jim Rohn advises, "Wherever you are, be there." That means not being engrossed in your smartphone while at the park with your children or, the ultimate disrespect of all, texting while having dinner with someone. Either don't promise to have that dinner or have the patience and courtesy to wait until later to send your phone messages. Make a promise to be there, and keep it.

 In your business, do all that you say you're going to do. Honor your contracts. Deliver on the promises made to your customers, suppliers, and partners. Avoid the temptation to over-promise and under-deliver. Be clear in your offer and make sure to avoid overextending yourself in the process. If you know you can't deliver on a promise, don't sell it. That mistake will only cause you a nagging headache and dent in your reputation.

 That's how you build relationships the right way, from day one, so that you never lose your prospect's faith. And so you can avoid disappointed customers, like my mother.

 Fortunately, and better late than never, the contractor called my mother and said that everything was now back on track. They would be getting to work on the foundation of the house early next week.

 But that relationship is permanently damaged. She'll never have the same level of trust in the contractor as she did when he first made his promises.

 Don't let this happen in your life or business. Put yourself on the line. Make your promises, keep your promises. Over-deliver value and exceed the expectations of everyone you deal with in life.

 As my friend Bedros Keuilian teaches, "You need to over-deliver, give faster results than promised, and become the go-to leader for your market."

 It all starts with doing what you say--and more.