Keep Your Clients Through Tough Times

Stock quotes in this article: MRK , WB , AXP  

Retain Your Best

One of the first things doubting clients ask is whether the company's best employees are staying.

So, even though I had to lay off 40% of my work force, I made sure to retain our best people and make this fact well-known.

When clients see that top employees are staying, they're assured of continuing quality of service and company stability.

Denial Is an Ugly Thing

I once worked for a company that ran into similar trouble. When its clients asked pointed questions about what they heard, the president denied there was a problem.

I met with one of these clients, who said he didn't buy the president's answer and didn't trust him.

Trust and honesty, especially in a bad situation, are your most valuable currency.

Remember, most seasoned businesspeople have gone through similar situations and will notice when you're not being straightforward.

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Marc Kramer, a serial entrepreneur, is the author of five books and is an instructor at the University of Pennsylvania's Wharton's Global Consulting Practicum, where he serves as Country Manager for Chile.

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